TIDMAUTG
RNS Number : 2323M
Autins Group PLC
20 January 2021
20 January 2021
Autins Group plc
(the "Company" or the "Group")
Management Long Term Incentive Plan
Autins Group plc (AIM: AUTG), the UK and European manufacturer
of the patented Neptune melt-blown material and specialist in the
design, manufacture and supply of acoustic and thermal insulation
solutions, announces a new long term incentive plan ("LTIP") in
order to reward and incentivise the senior executives to deliver
further sustainable and managed growth for the Company.
Total nil cost awards under the LTIP have been granted over
2,858,107 ordinary shares and are subject to performance criteria
over the three year period ending 30 September 2023 as detailed
below.
The LTIP awards over 1,270,268 ordinary shares are dependent on
Group EBITDA targets in the three financial years ending 30
September 2023 ("EBITDA Awards"). For the maximum awards to be met
the Group will need to deliver in aggregate an accumulative EBITDA
of GBP6.0million (excluding any IFRS adjustments) over the three
financial years ending 30 September 2023.
Further LTIP awards over 1,587,839 ordinary shares are dependent
on the Group's share price at 30 September 2023 ("Share Price
Awards"). If the Group's share price is less than 35 pence per
share at 30 September 2023 none of the these awards will vest. If
the Group's share price is 65 pence or more, 100% of the Share
Price Awards will vest.
The Share Price and EBITDA Awards will vest in three equal
annual instalments from 1 October 2023.
Awards have been granted to Gareth Kaminski-Cook (CEO), Kamran
Munir (CFO) and Joshua Kimberling, Group Sales Director, as
outlined below:
Director /PDMR EBITDA Awards Share Price Total Awards
Awards
Gareth Kaminski-Cook 648,648 810,811 1,459,459
-------------- ------------ -------------
Kamran Munir 472,972 591,217 1,064,189
-------------- ------------ -------------
Joshua Kimberling 148,648 185,811 334,459
-------------- ------------ -------------
All prior share options relating to the above named persons have
been cancelled in respect of 355,321 options over ordinary
shares.
For further information please contact:
Autins Group plc Via SEC Newgate
Gareth Kaminski-Cook, Chief
Executive
Kamran Munir, Chief Financial
Officer
N+1 Singer Tel: 020 7496 3000
(Nominated Adviser and Broker)
Mark Taylor / Carlo Spingardi
SEC Newgate Tel: 020 7653 9850
(Financial PR)
Adam Lloyd
Tom Carnegie
About Autins
Autins is a UK and continental Europe based industrial materials
technology business that specialises in the design, manufacture,
and supply of acoustic and thermal products. Its key markets are
automotive, flooring, office furniture and commercial vehicles
where it supplies products and services to more than 160 customer
locations across Europe.
Autins is also the sole European manufacturer of the patented
Neptune material. Neptune is a lightweight, high-performance
acoustic material which offers superior acoustic and thermal
properties. It is suitable for a range of applications where
acoustic absorption is required. This market-leading product is
manufactured in the UK.
The information contained within this announcement is deemed to
constitute inside information for the purposes of article 7 of the
Market Abuse Regulation (EU) no. 596/2014. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Gareth Kaminski Cook
--------------------------------- -----------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------------------- -----------------------------------
b) Initial notification Initial
/Amendment
--------------------------------- -----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name Autins Group plc
--------------------------------- -----------------------------------
b) LEI 2138006WN9R3JYOANR87
--------------------------------- -----------------------------------
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 Grant of option under LTIP Award
financial instrument,
type of instrument
GB00BD37ZH08
Identification code
--------------------------------- -----------------------------------
b) Nature of the transaction Grant of option under LTIP Award
--------------------------------- -----------------------------------
c) Price(s) and volume(s) Price Volume
--------------------------------- ---------- -----------------------
NIL [1,459,459]
--------------------------------- ---------- -----------------------
d) Aggregated information N/A
- Aggregated volume
- Price
--------------------------------- -----------------------------------
e) Date of the transaction [-- January 2021]
--------------------------------- -----------------------------------
f) Place of the transaction Off market transaction
--------------------------------- -----------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Kamran Munir
--------------------------------- ------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position/status Chief Financial Officer
--------------------------------- ------------------------------------
b) Initial notification Initial
/Amendment
--------------------------------- ------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Autins Group plc
--------------------------------- ------------------------------------
b) LEI 2138006WN9R3JYOANR87
--------------------------------- ------------------------------------
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 Grant of option under LTIP Award
financial instrument,
type of instrument
GB00BD37ZH08
Identification code
--------------------------------- ------------------------------------
b) Nature of the transaction Grant of options under LTIP Award
--------------------------------- ------------------------------------
c) Price(s) and volume(s) Price Volume
--------------------------------- ---------- ------------------------
NIL [1,064,189]
--------------------------------- ---------- ------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
--------------------------------- ------------------------------------
e) Date of the transaction [-- January 2021]
--------------------------------- ------------------------------------
f) Place of the transaction Off market transaction
--------------------------------- ------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Joshua Kimberling
----------------------------------- ------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Group Sales Director
----------------------------------- ------------------------------------
b) Initial notification Initial
/Amendment
----------------------------------- ------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Autins Group plc
----------------------------------- ------------------------------------
b) LEI 2138006WN9R3JYOANR87
----------------------------------- ------------------------------------
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 Grant of option under LTIP Award
financial instrument,
type of instrument
GB00BD37ZH08
Identification code
----------------------------------- ------------------------------------
b) Nature of the transaction Grant of options under LTIP Award
----------------------------------- ------------------------------------
c) Price(s) and volume(s) Price Volume
----------------------------------- ----------- -----------------------
NIL [334,459]
----------------------------------- ----------- -----------------------
d) Aggregated information N/A
- Aggregated volume
- Price
----------------------------------- ------------------------------------
e) Date of the transaction [-- January 2021]
----------------------------------- ------------------------------------
f) Place of the transaction Off market transaction
----------------------------------- ------------------------------------
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END
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