Director/PDMR Shareholding

                                                              Metro Bank Holdings plc (LSE: MTRO LN)

29 May 2025

 

 

Metro Bank Holdings plc (the "Company")

 

Legal Entity Identifier: 984500CDDEAD6C2EDQ64

 

 

Director / PDMR Shareholding

Grant of an interest in shares under the Metro Bank Holdings plc Shareholder Value Alignment Plan (SVAP)

 

At Metro Bank's 2025 AGM a resolution was passed approving the adoption of the SVAP. A copy of the SVAP rules is available at https://www.metrobankonline.co.uk/globalassets/metro-bank-holdings-svap-plan-rules.pdf.

On 28 May 2025, Daniel Frumkin (Chief Executive Officer) and Marc Page (Chief Financial Officer) were awarded a right to be granted a nil cost option on (or shortly after) each of 31 December 2027, 31 December 2028 and 31 December 2029 in accordance with the SVAP rules (the “SVAP Awards”). The number of shares in Metro Bank Holdings plc over which each nil cost option will be granted pursuant to the SVAP Award will be determined by the growth in total shareholder return from a value equivalent to a share price of 80p as at the relevant grant date. An option will only be granted provided a minimum share price hurdle of 120p has been met, and to the extent that the aggregate value (tested at each grant date) of the shares under all nil cost options granted to each individual does not exceed £60m in the case of the CEO and £12m in the case of the CFO. Payouts at this capped level currently requires a share price of £4.37.

Any nil cost options will vest (to the extent certain performance conditions have been met) in line with regulatory requirements, which currently require vesting over a three-to-seven year period from the date of award (28 May 2025), and a one-year post-vest holding period for instruments. Options will also be subject to malus and clawback provisions.

1.	DETAILS OF PDMR / PERSON CLOSELY ASSOCIATED:
(a)	Name	Daniel Frumkin
2.	REASON FOR THE NOTIFICATION:
(a)	Position / Status	Chief Executive Officer
(b)	Initial notification / amendment	Initial notification
3.	DETAILS OF THE ISSUER, EMISSION ALLOWANCE MARKET PARTICIPANT, AUCTION PLATFORM, AUCTIONEER OR AUCTION MONITOR:
(a)	Name	Metro Bank Holdings plc
(b)	LEI	984500CDDEAD6C2EDQ64
4.	DETAILS OF THE TRANSACTION(S): SECTION TO BE REPEATED FOR (I) EACH TYPE OF INSTRUMENT; (II) EACH TYPE OF TRANSACTION; (III) EACH DATE; AND (IV) EACH PLACE WHERE TRANSACTIONS HAVE BEEN CONDUCTED:
(a)	Description of the financial instrument, type of instrument	Right to acquire nil cost options over ordinary shares of 0.0001 pence each in Metro Bank Holdings plc.
	Identification code	GB00BMX3W479
(b)	Nature of the transaction	Right to acquire nil cost options to acquire shares in Metro Bank Holdings plc under the SVAP (the “SVAP Award”), determined by 2.5% of the growth in value (based on total shareholder return) above a market value equivalent to 80 pence per share, subject to the achievement of a minimum share price hurdle of 120p, and subject to a cap on the aggregate value (at grant) of shares subject to nil cost options of £60m.
(c)	Price (pence) and volume	Price(s):	N/A	Volume(s):	To be determined as described above in 4(b)
(d)	Aggregated information -   aggregated volume -   price (pence)	Not applicable - single transaction
(e)	Date of the transaction	28 May 2025
(f)	Place of the transaction	Outside a trading venue

 

1.	DETAILS OF PDMR / PERSON CLOSELY ASSOCIATED:
(a)	Name	Marc Page
2.	REASON FOR THE NOTIFICATION:
(a)	Position / Status	Chief Financial Officer
(b)	Initial notification / amendment	Initial notification
3.	DETAILS OF THE ISSUER, EMISSION ALLOWANCE MARKET PARTICIPANT, AUCTION PLATFORM, AUCTIONEER OR AUCTION MONITOR:
(a)	Name	Metro Bank Holdings plc
(b)	LEI	984500CDDEAD6C2EDQ64
4.	DETAILS OF THE TRANSACTION(S): SECTION TO BE REPEATED FOR (I) EACH TYPE OF INSTRUMENT; (II) EACH TYPE OF TRANSACTION; (III) EACH DATE; AND (IV) EACH PLACE WHERE TRANSACTIONS HAVE BEEN CONDUCTED:
(a)	Description of the financial instrument, type of instrument	Right to acquire nil cost options over ordinary shares of 0.0001 pence each in Metro Bank Holdings plc.
	Identification code	GB00BMX3W479
(b)	Nature of the transaction	Right to acquire nil cost options to acquire shares in Metro Bank Holdings plc under the SVAP (the “SVAP Award”), determined by 0.5% of the growth in value (based on total shareholder return) above a market value equivalent to 80 pence per share, subject to the achievement of a minimum share price hurdle of 120p, and subject to a cap on the aggregate value (at grant) of shares subject to nil cost options of £12m.
(c)	Price (pence) and volume	Price(s):	N/A	Volume(s):	To be determined as described above in 4(b)
(d)	Aggregated information -   aggregated volume -   price (pence)	Not applicable - single transaction
(e)	Date of the transaction	28 May 2025
(f)	Place of the transaction	Outside a trading venue

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Enquiries

For further information on this announcement, please contact:

 

Metro Bank Holdings PLC      

 

Clare Gilligan

Company Secretary    +44 (0) 2034028385 

 

About Metro Bank

Metro Bank provides corporate, commercial and SME banking and specialist mortgage lending, alongside retail and private banking services. Metro Bank offers relationship banking through a network of 75 stores in the UK, telephone banking from UK-based contact centres and digital banking via an award-winning mobile app.

Metro Bank appeared in second place for personal and business service in-store in the Competition and Markets Authority’s Service Quality Survey, February 2025.

Metro Bank Holdings PLC (registered in England and Wales with company number 14387040, registered office: One Southampton Row, London, WC1B 5HA) is the listed entity and holding company of the Metro Bank group.

Metro Bank PLC (registered in England and Wales with company number 6419578, registered office: One Southampton Row, London, WC1B 5HA) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. ‘Metrobank’ is a registered trademark of Metro Bank PLC. Eligible deposits are protected by the Financial Services Compensation Scheme. For further information about the Scheme, refer to www.fscs.org.uk.

Metro Bank is an independent UK bank – it is not affiliated with any other bank or organisation. Please refer to Metro Bank using the full name.