RNS Number : 5290T

Zotefoams PLC

25 March 2021

Zotefoams plc

(the 'Company')


25 March 2021 - On 24 March 2021, the Company received notice from its Employee Benefit Trust of the exercise and partial sale for tax of nil cost options granted over ordinary shares of 5 pence each ('Shares') under the Company's Deferred Bonus Share Plan ('DBSP') by Dr K D Hewson as follows:

 Total number of   Number of shares   Aggregated 
   shares sold       sold for tax      Sale price 
     16,270              7664           GBP4.29 
                  -----------------  ------------ 

Awards granted under the DBSP usually vest three years from grant, subject to satisfaction of service conditions. However, given the unprecedented circumstances brought about by COVID-19, and the decision of the Board not to recommend a final dividend for the year ended 31 December 2019, the proportion of the bonus that would normally have been paid in cash was deferred into shares (the 'Deferred Bonus proportion'). The Remuneration Committee has now approved the exercise of the Deferred Bonus proportion taking place prior to 20 April 2023. The proportion of the bonus that would normally be deferred into shares (25%) will continue as normal and will be released after three years.

The award was increased to reflect the dividend paid during the restricted period.

The Notification of Dealing Form can be found below.

This announcement is made in accordance with the requirements of Article 19 of the EU Market Abuse Regulation 596/2014.

Lydia Harratt

Group Company Secretary

Zotefoams plc

020 8664 1600

About Zotefoams plc

Zotefoams plc (LSE - ZTF) is a world leader in cellular materials technology delivering optimal material solutions for the benefit of society. Utilising a variety of unique manufacturing processes, including environmentally friendly nitrogen expansion for lightweight AZOTE(R) polyolefin and ZOTEK(R) high-performance foams, Zotefoams sells to diverse markets worldwide. Zotefoams uses its own cellular materials to manufacture T-FIT(R) advanced insulation for demanding industrial markets. Zotefoams also owns and licenses patented microcellular foam technology to reduce plastic use in extrusion applications and for ReZorce(R) mono-material recyclable barrier packaging.

Zotefoams is headquartered in Croydon, UK, with additional manufacturing sites in Kentucky, USA and Brzeg, Poland (foam manufacture) Oklahoma, USA (foam products manufacture and conversion), Massachusetts, USA (MuCell Extrusion) and Jiangsu Province, China (T-FIT).


AZOTE(R), ZOTEK(R), ReZorce(R) and T-FIT(R) are registered trademarks of Zotefoams plc.




 1.   Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name: Karl David Hewson 
 2.   Reason for the notification 
 a)   Position/status: Senior Executive 
 b)   Initial notification/Amendment: Initial notification 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
 a)   Name: Zotefoams plc 
 b)   LEI: 213800B6P256B5XN8D32 
 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: 
       Ordinary shares of 5 pence each 
       Identification code: GB0009896605 
 b)   Nature of the transaction: Exercise and sale of shares 
       under the Deferred Bonus Share Plan 
 c)   Price(s) and volume(s): Price(s)   Volume(s) 
        4.289      16,196 
        4.33       76 
 d)   Aggregated information: 
        Aggregate Price   Aggregate Volume   Aggregate Total 
        GBP4.29           16,270             GBP69798.30 
                         -----------------  ---------------- 
 e)   Date of the transaction: 24 March 2021 
 f)   Place of the transaction: XLON 

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(END) Dow Jones Newswires

March 25, 2021 09:26 ET (13:26 GMT)

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