Tyman PLC Director/PDMR Shareholding (6313Z)
24 Mayo 2021 - 9:22AM
UK Regulatory
TIDMTYMN
RNS Number : 6313Z
Tyman PLC
24 May 2021
TYMAN PLC
("Tyman" or the "Company")
DIRECTOR/PDMR SHAREHOLDINGS
AWARDS UNDER THE TYMAN PLC LONG TERM INCENTIVE PLAN (THE
"LTIP")
On 21 May 2021 ("Award Date"), the Company's two Executive
Directors were granted the following share awards (the "2021
Awards") under the LTIP, in the form of nil cost options over
ordinary shares of 5 pence each in the Company ("Ordinary
Shares"):
Name Number of 2021 Awards(1)
Jo Hallas 205,111
-------------------------
Jason Ashton 118,445
-------------------------
(1) Number of shares calculated by reference to the 5-day
average closing price prior to the date that shares were awarded to
all other eligible employees (5 trading days ended 11(th) March
2021) of GBP3.4920.
As stated on page 119 of the 2020 Annual Report and Accounts,
2021 Awards to Executive Directors following the AGM are calibrated
as a number of shares using the same average share price used to
determine the numbers of shares awarded to all other eligible
employees in March 2021 (GBP3.492) to support alignment of
interests across the LTIP population.
Performance conditions
Under the terms of the LTIP, the Awards are subject to the
following terms:
-- EPS performance target. 40% of each Award is based on the
Company's adjusted earnings per share ("EPS") growth other the
three-year period to the end of the financial year 2023 ("FY23").
No part of an Award will vest if the three-year compound annualised
growth rate ("CAGR") in the Company's EPS to FY23 is below 4.5% per
annum. 25% of this element will vest if the Company's EPS CAGR is
equal to 4.5% per annum, rising on a straight-line basis to 100%
vesting if the Company's EPS CAGR equals or exceeds 12.0% per
annum.
-- ROCE performance target. 25% of each Award is based on the
Company's underlying return on capital employed ("ROCE")
performance in FY23. No part of an Award will vest if the Company's
FY23 ROCE is less than 13.0%. 25% of this element will vest if the
Company's FY23 ROCE is equal to 13.0%, rising on a straight-line
basis to 100% vesting if the Company's FY23 ROCE equals or exceeds
14.2%.
-- TSR performance target. 20% of each Award is based on the
Company's total shareholder return over the period 2021 - 2023
relative to the constituents of the FTSE250 Index (excluding Tyman
and investment trusts). No part of this element will vest if the
Company's relative TSR is less than the median. 25% of this element
will vest if the Company's relative TSR is equal to the median,
rising on a straight-line basis to 100% vesting if the Company's
relative TSR is equal to the upper quartile.
-- Group ESG scorecard target . 15% of each Award is based on
the Company's Group ESG scorecard target. The Group ESG Scorecard
is split equally across the four metrics of Safety, Environment,
Impact and Culture (further details of which can be found on page
119 of the 2020 Annual Report and Accounts).
Five year holding period
Awards granted to the Executive Directors that vest shall be
subject to a compulsory holding period of five years from the Award
Date.
Timetable and Awards Outstanding
2021 Awards are expected to vest in May 2024, following the
announcement of the Company's results for the year ended 31
December 2023, subject to fulfilment of the performance conditions
and continued employment in the Group, and the holding requirement
is expected to lapse on 21 May 2026.
The details of the Awards are set out below:
1 Details of the persons discharging managerial responsibilities
/ person closely associated
a) Names i. JO HALLAS
ii. JASON ASHTON
--------------------------------------- ------------------------------------------------------
2 Reason for the notification: AWARD OF OPTIONS
-----------------------------------------------------------------------------------------------
a) Position/status i. CHIEF EXECUTIVE OFFICER
ii. CHIEF FINANCIAL OFFICER
--------------------------------------- ------------------------------------------------------
b) Initial notification INITIAL NOTIFICATION
/Amendment
--------------------------------------- ------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------------
a) Name TYMAN PLC
--------------------------------------- ------------------------------------------------------
b) LEI 213800AAFUV5PKGQU848
--------------------------------------- ------------------------------------------------------
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 ORDINARY SHARES OF 5P EACH
the financial
instrument, type
of instrument
Identification ISIN NUMBER:GB00B29H4253
code
b) Nature of the NIL COST OPTIONS GRANTED SUBJECT TO PERFORMANCE
transaction CONDITIONS UNDER TYMAN PLC LONG TERM INCENTIVE
PLAN
--------------------------------------- ------------------------------------------------------
c) Prices (s) and Price Volume
volume(s)
--------------------------------------- ------------ ----------------- ---------------------
i. Nil 205,111
------------ -------------------------------------------------------------- ---------------------
ii. Nil 118,445
------------ -------------------------------------------------------------- ---------------------
d) Aggregated information
- Aggregated - 323,556
volume
- Price - Nil
e) Date of the transaction 21 May 2021
--------------------------------------- ------------------------------------------------------
f) Place of the OUTSIDE OF TRADING VENUE
transaction
--------------------------------------- ------------------------------------------------------
This 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.
24 May 2021
Enquiries:
Tyman plc 020 7976 8000
Peter Ho - General Counsel & Company Secretary www.tymanplc.com
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END
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