Polypipe Group PLC Director/PDMR Shareholding (5849U)
25 Noviembre 2019 - 9:24AM
UK Regulatory
TIDMPLP
RNS Number : 5849U
Polypipe Group PLC
25 November 2019
Polypipe Group plc (the "Company')
Notification of Transaction by Persons Discharging Managerial
Responsibilities
The Company hereby notifies the following changes in the
interests of Martin Gisbourne, a person discharging managerial
responsibility ("PDMR") in Ordinary Shares of GBP0.001 each in the
Company ("Shares") on 22 November 2019.
Grant of Long Term Incentive Plan award
The Company confirms that on 22 November 2019, in accordance
with its shareholder approved Remuneration Policy, it granted an
award (structured as a nil cost option) to Martin Gisbourne under
the Polypipe Group plc 2014 Long Term Incentive Plan (the "LTIP").
The award, which has been granted in respect of the financial year
beginning on 1 January 2019, is over the following maximum number
of Shares in the Company:
Name/Position Category Maximum number of Shares
M Gisbourne/ Group Marketing
& Strategy Director PDMR 23,531
---------- -------------------------
The vesting of each award is subject to the satisfaction of the
following performance conditions:
1. 25% of the maximum potential award is based on a Total
Shareholder Return (the "TSR element") performance condition with a
threshold of 25% of the TSR element reached on achieving median and
100% for achieving upper quartile performance relative to the Total
Shareholder Return of the companies in a comparator group
(consisting of companies in the FTSE 250 Index that are classified
as Industrials by the Industry Classification Benchmark) and;
2. 75% of the maximum potential award is based on an Earnings
per Share performance condition (the "EPS element") measured on a
cumulative underlying diluted basis with cumulative targets
equivalent to growth of 4% p.a. required to reach the minimum
threshold of 25% and 10% p.a. growth to reach the maximum of 100%
against 2018 performance.
The TSR and EPS elements are both measured over the three-year
period commencing on 1 January 2019.
Subject to the satisfaction of the performance conditions the
awards will normally vest on 22 November 2022 and remain
exercisable until the tenth anniversary of the grant date.
The notifications below, which have been made in accordance with
the requirements of the EU Market Abuse Regulation, provide further
detail.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Martin Gisbourne
-------------------------- ----------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status PDMR
-------------------------- ----------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name Polypipe Group plc
-------------------------- ----------------------------------------
b) LEI 2138005IF1N2RKJ6KO18
-------------------------- ----------------------------------------
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 Ordinary Shares of GBP0.001 each
financial instrument, in the capital of Polypipe Group
type of instrument plc
Identification code
GB00BKRC5K31
-------------------------- ----------------------------------------
b) Nature of the transaction Grant of an award, structured as
a nil cost option, under the Company's
2014 Long Term Incentive Plan.
-------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 23,531
----------
-------------------------- ----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
-------------------------- ----------------------------------------
e) Date of the transaction 22 November 2019
-------------------------- ----------------------------------------
f) Place of the transaction Outside a Trading Venue
-------------------------- ----------------------------------------
Contacts: +44 (0) 1709 770
Emma Versluys, Legal Counsel & Company Secretary 000
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Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
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END
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