TYMAN PLC
("Tyman" or the
"Company" or the
"Group")
DIRECTOR/PDMR
SHAREHOLDINGS
Tyman plc announces that it has been
notified of the following transactions in the Company's ordinary 5p
shares ("Shares")
undertaken by an Executive Director and PDMR, Jason Ashton,
CFO.
DEFERRED SHARE BONUS PLAN (THE "DSBP")
On 23 April 2024, following the end
of a closed period, the Company's Remuneration Committee granted
the following nil-cost option over Shares (the "2023 Award") to Jason Ashton, an
Executive Director of the Company, under the terms of the Company's
DSBP 2023 (as part of the annual bonuses for the year ended 31
December 2023). Under the terms of the DSBP, 50% of the bonuses of
Executive Directors, which would otherwise have been payable in
cash, are delivered in the form of nil-cost option.
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Executive
Director
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Number of Ordinary Shares
subject to the DSBP award1
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Jason Ashton
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82,908
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1As customary for Tyman, the number of Shares were calculated
by reference to the 5-day average closing price prior to the date
that shares were awarded (5 trading days ended 13th
March 2024) of £2.861.
This 2023 Award would normally vest
(together with dividend equivalents in cash or Shares) following
the publication of the Group's audited results for the year ending
31 December 2026, expected to be in March 2027. No consideration
was paid for the 2023 Awards and no consideration is due to be
payable on vesting.
Impact of the recommended offer for the
Company
On 22 April 2024, the boards of
Quanex Building Products Corporation ("Quanex") and Tyman announced (the
"2.7 Announcement") that
they reached agreement on the terms of a recommended cash and share
offer, pursuant to which Quanex will acquire the entire issued and
to be issued ordinary share capital of Tyman (the "Transaction"). In this section, all
capitalised terms used shall have the same meaning as in the 2.7
Announcement, unless expressly defined otherwise.
Pursuant to the terms agreed by
Quanex and Tyman, awards under the DSBP shall vest or become
exercisable in full on the Effective Date. Awards under the DSBP
will accrue, in the ordinary course, dividend equivalents that will
be settled by Tyman in cash if they have not already been credited
in Shares.
The following disclosure is made in
accordance with Article 19 of EU Market Abuse Regulation No.
596/2014 as it forms part of domestic law by virtue of the
European Union (Withdrawal) Act 2018.
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1
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Details of the persons discharging managerial responsibilities
/ person closely associated
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a)
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Names
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i. JASON
ASHTON
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2
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Reason for the notification: GRANT OF OPTIONS
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a)
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Position/status
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i. CHIEF
FINANCIAL OFFICER
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b)
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Initial notification
/Amendment
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INITIAL NOTIFICATION
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3
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Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
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a)
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Name
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TYMAN PLC
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b)
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LEI
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213800AAFUV5PKGQU848
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4
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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
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a)
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Description of the financial
instrument, type of instrument
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ORDINARY SHARES OF 5P
EACH
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Identification code
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ISIN NUMBER:GB00B29H4253
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b)
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Nature of the transaction
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A. GRANT OF DSBP SHARES.
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c)
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Prices (s) and volume(s)
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Price
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Volume
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Nil
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82, 908
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d)
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Aggregated information
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- Aggregated volume
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· 82,908
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- Price
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· Nil
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e)
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Date of the transaction
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23 April 2024
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f)
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Place of the transaction
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LONDON STOCK
EXCHANGE
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24 April 2024
Enquiries:
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Tyman plc
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020 7976
8000
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Peter Ho - General Counsel &
Company Secretary
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www.tymanplc.com
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