TI Fluid Systems PLC Director/PDMR Shareholding (1640Q)
17 Junio 2020 - 1:00AM
UK Regulatory
TIDMTIFS
RNS Number : 1640Q
TI Fluid Systems PLC
17 June 2020
17 June 2020
TI Fluid Systems plc
(the "Company")
Notification of transaction of Directors/ Persons Discharging
Managerial Responsibilities ("PDMR")
Grant of Awards under the Company's Long Term Incentive Plan
(the "Plan")
The Company announces that on 15 June 2020 awards of contingent
rights to receive ordinary shares in the capital of the Company
were made to certain persons discharging managerial
responsibilities under the Plan.
The awards will vest, subject to the rules of the Plan, based on
the Company's performance, which will be measured over a three-year
period from 2020-2022. As previously indicated in the Company's
2019 Annual Report and Accounts, specific performance measures and
targets for awards under the Plan were not determined in March 2020
due to the uncertainty resulting from the COVID-19 pandemic.
Specific performance measures and targets have now been established
which are aligned to shareholder interests and the Company's
priority of the preservation and generation of cash in light of the
various potential outcomes arising from the COVID-19 pandemic. As a
result, the Company will no longer consider Adjusted Basic Earnings
Per Share Growth (Compound Annual Growth Rate), and the specific
performance measures and targets applicable to these awards are as
follows:
Performance Weighting Vesting Threshold Maximum Outperformance
Condition at Threshold
Cumulative
Adjusted
Free Cash EUR260
Flow 80% 20% EUR110 Million Million EUR285 Million
---------- -------------- --------------- --------------- ---------------
Relative
Total Shareholder
Return 20% 25% Median Upper Quartile Not applicable
---------- -------------- --------------- --------------- ---------------
The awards were made at no cost to the individual. The per share
price used for the purposes of calculating the maximum number of
shares subject to these awards was GBP1.70, being the closing price
on the London Stock Exchange as at 12 June 2020, the day prior to
the grant date of the awards.
The following notifications are made in accordance with the
requirements of Article 19(3) of the EU Market Abuse
Regulation.
Enquiries:
TI Fluid Systems plc:
David Royce
Investor Relations +1 (248) 376 8624
FTI Consulting: +44 (0)20 3727 1340
Richard Mountain
Nick Hasell
Details of the person discharging managerial responsibilities/person
closely associated
-------------------------------------------------------------------------------------------
Name William L. Kozyra
------------------------------------- ----------------------------------------------------
Reason for the notification
-------------------------------------------------------------------------------------------
Position/status Chief Executive Officer & President
------------------------------------- ----------------------------------------------------
Initial notification/ Amendment Initial notification
------------------------------------- ----------------------------------------------------
Details of the issuer
-------------------------------------------------------------------------------------------
Name TI Fluid Systems plc
------------------------------------- ----------------------------------------------------
LEI 5493001T9RXVD6OAWY46
------------------------------------- ----------------------------------------------------
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
-------------------------------------------------------------------------------------------
Description of the financial Ordinary shares of TI Fluid Systems plc
instrument, GB00BYQB9V88
type of instrument
Identification code
------------------------------------- ----------------------------------------------------
Nature of the transaction Award of contingent rights to receive
shares under the TI Fluid Systems plc
Long Term Incentive Plan for nil consideration.
------------------------------------- ----------------------------------------------------
Price(s) and volume(s) Price(s) Volume(s)
Nil 2,127,970
------------------------------------- ----------------------------------------------------
Aggregated information N/A
- Aggregated volume
- Price
------------------------------------- ----------------------------------------------------
Date and time of the transaction 15 June 2020
------------------------------------- ----------------------------------------------------
Place of the transaction Outside a trading venue
------------------------------------- ----------------------------------------------------
Details of the person discharging managerial responsibilities/person
closely associated
-------------------------------------------------------------------------------------------
Name Ronald Hundzinski
------------------------------------- ----------------------------------------------------
Reason for the notification
-------------------------------------------------------------------------------------------
Position/status Chief Financial Officer
------------------------------------- ----------------------------------------------------
Initial notification/ Amendment Initial notification
------------------------------------- ----------------------------------------------------
Details of the issuer
-------------------------------------------------------------------------------------------
Name TI Fluid Systems plc
------------------------------------- ----------------------------------------------------
LEI 5493001T9RXVD6OAWY46
------------------------------------- ----------------------------------------------------
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
-------------------------------------------------------------------------------------------
Description of the financial Ordinary shares of TI Fluid Systems plc
instrument, GB00BYQB9V88
type of instrument
Identification code
------------------------------------- ----------------------------------------------------
Nature of the transaction Award of contingent rights to receive
shares under the TI Fluid Systems plc
Long Term Incentive Plan for nil consideration.
------------------------------------- ----------------------------------------------------
Price(s) and volume(s) Price(s) Volume(s)
Nil 843,261
------------------------------------- ----------------------------------------------------
Aggregated information N/A
- Aggregated volume
- Price
------------------------------------- ----------------------------------------------------
Date and time of the transaction 15 June 2020
------------------------------------- ----------------------------------------------------
Place of the transaction Outside a trading venue
------------------------------------- ----------------------------------------------------
Details of the person discharging managerial responsibilities/person
closely associated
---------------------------------------------------------------------------------------------------
Name Hans Dieltjens
--------------------------------------------- ----------------------------------------------------
Reason for the notification
---------------------------------------------------------------------------------------------------
Position/status Executive Vice President - FTDS
--------------------------------------------- ----------------------------------------------------
Initial notification/ Amendment Initial notification
--------------------------------------------- ----------------------------------------------------
Details of the issuer
---------------------------------------------------------------------------------------------------
Name TI Fluid Systems plc
--------------------------------------------- ----------------------------------------------------
LEI 5493001T9RXVD6OAWY46
--------------------------------------------- ----------------------------------------------------
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
---------------------------------------------------------------------------------------------------
Description of the financial instrument, Ordinary shares of TI Fluid Systems
type of instrument plc
Identification code GB00BYQB9V88
--------------------------------------------- ----------------------------------------------------
Nature of the transaction Award of contingent rights to receive
shares under the TI Fluid Systems plc
Long Term Incentive Plan for nil consideration.
--------------------------------------------- ----------------------------------------------------
Price(s) and volume(s) Price(s) Volume(s)
Nil 500,686
--------------------------------------------- ----------------------------------------------------
Aggregated information N/A
- Aggregated volume
- Price
--------------------------------------------- ----------------------------------------------------
Date and time of the transaction 15 June 2020
--------------------------------------------- ----------------------------------------------------
Place of the transaction Outside a trading venue
--------------------------------------------- ----------------------------------------------------
Details of the person discharging managerial responsibilities/person
closely associated
-------------------------------------------------------------------------------------------
Name Stefan Rau
------------------------------------- ----------------------------------------------------
Reason for the notification
-------------------------------------------------------------------------------------------
Position/status Executive Vice President - FCS
------------------------------------- ----------------------------------------------------
Initial notification/ Amendment Initial notification
------------------------------------- ----------------------------------------------------
Details of the issuer
-------------------------------------------------------------------------------------------
Name TI Fluid Systems plc
------------------------------------- ----------------------------------------------------
LEI 5493001T9RXVD6OAWY46
------------------------------------- ----------------------------------------------------
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
-------------------------------------------------------------------------------------------
Description of the financial Ordinary shares of TI Fluid Systems
instrument, plc
type of instrument GB00BYQB9V88
Identification code
------------------------------------- ----------------------------------------------------
Nature of the transaction Award of contingent rights to receive
shares under the TI Fluid Systems plc
Long Term Incentive Plan for nil consideration.
------------------------------------- ----------------------------------------------------
Price(s) and volume(s) Price(s) Volume(s)
Nil 387,110
------------------------------------- ----------------------------------------------------
Aggregated information N/A
- Aggregated volume
- Price
------------------------------------- ----------------------------------------------------
Date and time of the transaction 15 June 2020
------------------------------------- ----------------------------------------------------
Place of the transaction Outside a trading venue
------------------------------------- ----------------------------------------------------
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END
DSHDGGDLCXBDGGL
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June 17, 2020 02:00 ET (06:00 GMT)
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