Spectris plc: Director/PDMR
Shareholding
This notification is made under
Article 19(1) of the EU Market Abuse Regulation 596/2014 as it
forms part of domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR") and relates to the grant of share
awards under the terms of the Spectris Long Term Incentive Plan
("LTIP") and the Spectris
Deferred Bonus Plan("DBP") to persons discharging managerial
responsibilities ("PDMRs").
On 23 April 2024, Spectris plc (the
"Company") was informed
that, Derek Harding and Andrew Heath, the Executive Directors and
PDMRs of the Company accepted awards, on the same day, granted by
the Company of nominal-cost share options over ordinary 5p shares
on 28 March 2024, pursuant to both the terms of the LTIP
("LTIP Awards") and the DBP
("DBP Awards"), as set out
below:
|
Name
|
Position
|
Maximum number of shares that may
vest under the LTIP Awards granted 1,
2
|
Number of shares under DBP
Award
|
|
Derek Harding
|
Chief Financial Officer
|
45,214
|
11,651
|
|
Andrew Heath
|
Chief Executive
|
63,953
|
16,376
|
1. Includes
1.4X multiplier. More details on the performance conditions
attached to these LTIP Awards and the multiplier can be found in
the Company's 2023 Remuneration Policy.
2. Derek
Harding's and Andrew Heath's LTIP nominal-cost options are linked
to a grant of market-value share options ("Linked Options"). Linked
Options are granted up to the £60,000 limit under the HMRC's
Company Share Option Plan. For the avoidance of doubt, no
additional gross value can be delivered from the exercise of these
Linked Options under the terms of the LTIP.
The total number of ordinary shares
over which these LTIP Awards and DBP Awards were accepted
represents 0.13% of the Company's issued ordinary share capital on
23 April 2024.
No consideration was paid for the
grant of the LTIP Awards and the DBP Awards.
The vesting of these LTIP Awards is
subject to the continued employment of the Executive Directors,
malus and clawback provisions and the satisfaction of performance
conditions set by the Remuneration Committee of the Company. The
LTIP Awards will normally vest on the later of the third
anniversary of grant and the determination of the performance
conditions. The Executive Directors' LTIP Awards are then subject
to an additional two-year vesting period. To the extent that these
LTIP Awards vest, they are exercisable for a period of five years
from the end of the additional vesting period.
The DBP Awards are not subject to
performance conditions. All DBP Awards are subject to malus
and clawback provisions. DBP Awards will normally vest, and become
exercisable, on the third anniversary of the date of grant subject
to continued employment.
The nominal award price payable by
each participant on the exercise of these LTIP Awards and DBP
Awards is 5 pence per share.
The information set out below is
provided in accordance with the requirements of Article 19(3) of
MAR and provides further detail:
|
1
|
Details of the persons discharging managerial
responsibilities
|
|
a)
|
Name(s)
|
Derek Harding
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Director and PDMR
|
|
b)
|
Initial
notification/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Spectris plc
|
|
b)
|
LEI
|
213800Z4CO2CZO3M3T10
|
|
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
Identification code
|
Option granted over ordinary shares
of 5p each
GB0003308607
|
|
b)
|
Nature of the transaction
|
Acceptance of a grant of a share
option over ordinary shares of 5p each on 23 April 2024, pursuant
to the terms of the LTIP and DBP.
|
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
|
£0.05
|
LTIP nominal-cost option under which a maximum of
45,214 ordinary shares may
vest.
|
|
|
|
£0.05
|
DBP nominal-cost share option of
11,651 ordinary 5p shares.
|
|
d)
|
Aggregated information
|
Aggregated Volume
|
56,865
|
|
Price
|
£2,843.25
|
|
e)
|
Date of the transaction
|
23 April 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
|
|
|
| |
|
1
|
Details of the persons discharging managerial
responsibilities
|
|
a)
|
Name(s)
|
Andrew Heath
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Director and PDMR
|
|
b)
|
Initial
notification/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Spectris plc
|
|
b)
|
LEI
|
213800Z4CO2CZO3M3T10
|
|
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
Identification code
|
Option granted over ordinary shares
of 5p each
GB0003308607
|
|
b)
|
Nature of the transaction
|
Acceptance of a grant of a share
option over ordinary shares of 5p each on 23 April 2024, pursuant
to the terms of the LTIP and DBP.
|
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
|
£0.05
|
LTIP nominal-cost option under which a maximum of
63,953 ordinary shares may
vest.
|
|
|
|
£0.05
|
DBP nominal-cost share option of
16,376 ordinary 5p shares.
|
|
d)
|
Aggregated information
|
Aggregated Volume
|
80,329
|
|
Price
|
£4,016.45
|
|
e)
|
Date of the transaction
|
23 April 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
|
|
|
| |
Name of contact and telephone number
for queries:
Carlie Sawyer
Group Reward Executive
07585 888 852
For and on behalf of Spectris
plc
LEI Number:
213800Z4CO2CZO3M3T10
Date: 23 April 2024