TIDMELM

RNS Number : 3718H

Elementis PLC

05 April 2022

5 April 2022

   Elementis   plc 

('Elementis' or 'the Company')

   Director/PDMR   Shareholding 

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

Elementis plc announces that on 4 April 2022 the following Directors have been granted conditional share awards under the Elementis plc 2018 Long Term Incentive Plan (LTIP) with a vesting date of 4 April 2025 at a cost of nil pence per share.

 
 Name             Title                      Number of shares 
                                              (Performance Share 
                                              Awards) 
 Paul Waterman    Chief Executive Officer    1,236,244 
                 -------------------------  -------------------- 
 Ralph Hewins     Chief Financial Officer    559,656 
                 -------------------------  -------------------- 
 

The above quantum of awards are as detailed in the 2021 Directors' Remuneration Report and are based on award multiples set at 200% and 175% of salary for both the Chief Executive and Chief Financial Officer respectively.

In addition, the Committee will retain discretion to reduce the number of shares on vesting should it be considered appropriate to do so (e.g. in the event that there was perceived windfall gain).

Subject to the terms of the LTIP plan rules, the above awards will vest and become exercisable from the third anniversary of the grant of the awards subject to continued service and to the extent to which the relevant performance conditions (see below) are satisfied over the three financial years ending 31 December 2024. Shares that vest (post selling any shares required to meet associated tax liabilities) are also subject to a two-year holding requirement.

   Performance   conditions 

The full performance conditions to apply to the 2022 awards are as follows:

   Earnings   per   share   (33%  weighting) 
 
 EPS                   % of EPS part 
                        vesting 
 Less than 13 cents    0% 
                      -------------- 
 13 cents              0% 
                      -------------- 
 17.5 cents            100% 
                      -------------- 
 
   Vesting   will be on a  straight-line   basis   between   performance   points. 
   Relative   Total   Shareholder   Return   (33%  weighting) 
 
 Elementis versus                % of TSR part 
  FTSE ALL Share Constituents     vesting 
  (excluding Investment 
  Trusts) 
 Below median                    0% 
                                -------------- 
 Median                          25% 
                                -------------- 
 Upper quartile                  100% 
                                -------------- 
 
   Vesting   will be on a  straight-line   basis   between  the  median   and   upper   quartile. 
   Operating   Cash   Conversion   (33%  weighting) 
 
 Three-year Operating   % of Operating 
  Cash Conversion        Cash Conversion 
                         part vesting 
 Less than 85%          0% 
                       ----------------- 
 85%                    0% 
                       ----------------- 
 95%                    100% 
                       ----------------- 
 
   Vesting   will be on a  straight-line   basis   between   performance   points. 

Vesting based on the above performance conditions will be subject to a return on capital employed underpin. This will require the Committee to consider the vesting result determined based on the application of the EPS, TSR and operating cash conversion performance conditions in light of the return on capital employed achieved during the three year period ending 31 December 2024 relative to the Board's internal plans over the period. If the Committee does not consider the vesting result appropriate in light of the return the underpin enables vesting to be reduced to a more appropriate level.

Set out below are the notifications made in accordance with Article 19 of the EU Market Abuse Regulation.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
 1     Deta ils of the person discharging m anagerial responsibilities 
        / person closely associated 
 a)   Na me                              PAUL WATERMAN 
     ----------------------------------  --------------------------------------------- 
 2    Reaso n for the notification 
     --------------------------------------------------------------------------------- 
 a)   Position/status                    CEO, DIRECTOR 
     ----------------------------------  --------------------------------------------- 
 b)   I nitial notification/Amendment    INITIAL NOTIFICATION 
     ----------------------------------  --------------------------------------------- 
 3     Deta ils of the issuer, e mission allow ance m a rket participant, 
        auct ion plat for m, auctioneer or auc tion monitor 
     --------------------------------------------------------------------------------- 
 a)   Na me                               ELEMENTIS PLC 
     ----------------------------------  --------------------------------------------- 
 b)   L E I                               549300LQIH685LI2ML36 
     ----------------------------------  --------------------------------------------- 
 4    Deta ils of the t ransact ion(s): section to be re p eated 
       for ( i) e a ch type of instrum ent; 
       (ii ) each type of transa c tion; (iii) each date; a nd (iv) 
       each place where transactions have been conducted 
     --------------------------------------------------------------------------------- 
 a)   Descriptio n of the                 SHARES 
       financial instrument, 
       t ype of instrument                 GB0002418548 
 
 
       I d e ntification 
       code 
     ----------------------------------  --------------------------------------------- 
 b)   Nature of the transaction          Grant of a conditional share award over 
                                          1,236,244 shares under the Elementis plc 
                                          2018 Long Term Incentive Plan with a vesting 
                                          date of 4 April 2025 at a cost of nil pence 
                                          per share. 
     ----------------------------------  --------------------------------------------- 
 c)   Price(s ) and volum                   Price(s)   Volume(s) 
       e (s)                                 N/A        N/A 
                                                       ---------- 
     ----------------------------------  --------------------------------------------- 
 d)   Aggr e g ate d i n 
       formation 
     ----------------------------------  --------------------------------------------- 
 
                - Aggr e g a ted volume     N/A 
                 *    Price 
     ----------------------------------  --------------------------------------------- 
 e    Date of the transaction             2022-04-04 
  ) 
     ----------------------------------  --------------------------------------------- 
 f)   Place of the tr ansaction           Outside of a trading venue 
     ----------------------------------  --------------------------------------------- 
 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
 1     Deta ils of the person discharging m anagerial responsibilities 
        / person closely associated 
 a)   Na me                              RALPH HEWINS 
     ----------------------------------  --------------------------------------------- 
 2    Reaso n for the notification 
     --------------------------------------------------------------------------------- 
 a)   Position/status                    CFO, DIRECTOR 
     ----------------------------------  --------------------------------------------- 
 b)   I nitial notification/Amendment    INITIAL NOTIFICATION 
     ----------------------------------  --------------------------------------------- 
 3     Deta ils of the issuer, e mission allow ance m a rket participant, 
        auct ion plat for m, auctioneer or auc tion monitor 
     --------------------------------------------------------------------------------- 
 a)   Na me                               ELEMENTIS PLC 
     ----------------------------------  --------------------------------------------- 
 b)   L E I                               549300LQIH685LI2ML36 
     ----------------------------------  --------------------------------------------- 
 4    Deta ils of the t ransact ion(s): section to be re p eated 
       for ( i) e a ch type of instrum ent; 
       (ii ) each type of transa c tion; (iii) each date; a nd (iv) 
       each place where transactions have been conducted 
     --------------------------------------------------------------------------------- 
 a)   Descriptio n of the                 SHARES 
       financial instrument, 
       t ype of instrument                 GB0002418548 
 
 
       I d e ntification 
       code 
     ----------------------------------  --------------------------------------------- 
 b)   Nature of the transaction          Grant of a conditional share award over 
                                          559,656 shares under the Elementis plc 
                                          2018 Long Term Incentive Plan with a vesting 
                                          date of 4 April 2025 at a cost of nil pence 
                                          per share. 
     ----------------------------------  --------------------------------------------- 
 c)   Price(s ) and volum                   Price(s)   Volume(s) 
       e (s)                                 N/A        N/A 
                                                       ---------- 
     ----------------------------------  --------------------------------------------- 
 d)   Aggr e g ate d i n 
       formation 
     ----------------------------------  --------------------------------------------- 
 
                - Aggr e g a ted volume     N/A 
                 *    Price 
     ----------------------------------  --------------------------------------------- 
 e    Date of the transaction             2022-04-04 
  ) 
     ----------------------------------  --------------------------------------------- 
 f)   Place of the tr ansaction           Outside of a trading venue 
     ----------------------------------  --------------------------------------------- 
 

Person responsible for making this notification: Laura Higgins, Group Company Secretary

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END

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April 05, 2022 11:17 ET (15:17 GMT)

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