Business Context and Reporting Period
This Form 6-K filing by Lloyds TSB Group plc (now Lloyds Banking Group Plc) is dated April 6, 2006. The document serves as a Regulatory News Service Announcement regarding the notification of transactions involving directors and persons discharging managerial responsibilities (PDMR). It details shareholdings and the grant of share options to three specific directors: John Eric Daniels, Michael Edward Fairey, and George Truett Tate.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document is strictly a disclosure of director shareholdings and option grants and contains no consolidated financial statements or performance metrics for the company.
Material Changes and Director Transactions
The filing discloses the following holdings and option grants as of April 5, 2006:
- John Eric Daniels: Holds 157,792 ordinary shares directly, plus shares held via nominees and trusts totaling approximately 480,121 shares including conditional performance awards. Granted options for 2,236 shares with an exercise price of 418p, exercisable between June 1, 2009, and November 30, 2009. Total options held following notification: 2,371,087.
- Michael Edward Fairey: Holds 71,035 ordinary shares directly, plus shares held via nominees and trusts totaling approximately 318,556 shares including conditional performance awards. Granted options for 1,789 shares with an exercise price of 418p, exercisable between June 1, 2009, and November 30, 2009. Total options held following notification: 1,866,264.
- George Truett Tate: Holds shares via nominees and trusts totaling approximately 221,144 shares including conditional performance awards. Granted options for 3,851 shares with an exercise price of 418p, exercisable between June 1, 2011, and November 30, 2011. Total options held following notification: 1,116,907.
All transactions relate to Ordinary Shares of 25p each listed on the London Stock Exchange. The percentage holding for each director is described as minimal.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items. The document is limited to statutory disclosures of director share ownership and option grants.
Key Facts for Investor Verification
- Verify the total number of options held by each director following the April 5, 2006 grants.
- Confirm the exercise price of 418p for the newly granted options.
- Note the differing exercise windows: Daniels and Fairey have options exercisable in 2009, while Tate's options are exercisable in 2011.
- Review the breakdown of holdings between direct ownership, nominee accounts (AESOP1), offshore trusts (HSOTC), and conditional performance share awards.