TIDMCWK
RNS Number : 7894E
Cranswick PLC
03 July 2023
Director/PDMR Shareholding
Cranswick plc ("the Company")
The Company has been notified that the following award of LTIP
nil-cost options has been made, pursuant to the Cranswick plc Long
Term Incentive Plan (the "Scheme"), to certain Directors/Persons
Discharging Managerial Responsibility ("PDMR") over ordinary shares
of 10 pence each in the Company ("Ordinary Shares"), as
follows:
Name No. of Ordinary Shares subject to Option
Adam Couch 49,620
Mark Bottomley 32,800
Jim Brisby 32,800
Chris Aldersley 32,800
The LTIP nil-cost options were granted on 1 July 2023 in
accordance with the Scheme and are based on a share price of 3250
pence per Ordinary Share, being the average quoted market price of
the Company's shares on the three dealing days prior to the date of
grant.
Each person has also been granted a tax qualifying option over
615 Ordinary Shares at an exercise price of 3250 pence per Ordinary
Share as part of their award. These tax qualifying options are
linked to the LTIP nil-cost options such that, at the time of
exercise, to the extent that there is a gain in the tax qualifying
option, the LTIP nil-cost option will be forfeited to the value of
that gain.
Vesting of the LTIP options and tax qualifying options is
subject to the achievement of performance criteria based on growth
in EPS (as regards 42.5% of each award), relative Total Shareholder
Return (as regards 42.5% of each award), reduction in emissions (as
regards 5% of each award), reduction in water intensity (as regards
5% of each award) and reduction in energy intensity (as regards 5%
of each award). The targets applying to each element are as
follows.
Target
EPS Threshold 215.6 pence per ordinary share
--------------------- ------------------------------------------
Maximum 249.8 pence per ordinary share
--------------------- ------------------------------------------
Relative TSR Threshold Median
--------------------- ------------------------------------------
Maximum Upper decile
--------------------- ------------------------------------------
Emissions Threshold 12.4% reduction
(tonnes Co2e)
--------------------- ------------------------------------------
Maximum 16.5% reduction
--------------------- ------------------------------------------
Water Intensity Threshold 12.2% reduction
(m3/sales tonnes)
--------------------- ------------------------------------------
Maximum 16.3% reduction
--------------------- ------------------------------------------
Energy Intensity Threshold 14.0% reduction
(kWh/sales tonnes)
--------------------- ------------------------------------------
Maximum 18.7% reduction
--------------------- ------------------------------------------
Notes
Threshold performance results in 25% of that element
vesting.
Emissions are total Scope 1 and Scope 2 emissions (location
based) (tonnes CO2e)
Water Intensity is water intensity (m3/sales tonnes) excluding
farms
TSR performance will be measured against companies in the FTSE
250 Index (excluding investment trusts).
Targets for the reduction of emissions, water intensity and
energy intensity have been set based on the Group's published
2019/20 baseline performance and are consistent with the
achievement of the Group's long-term target of achieving a 50%
reduction in such measures by 2029/30 (after taking into account
performance achieved to date).
Enquiries:
Steven Glover, Company Secretary tel: 01482 275000
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Christopher Aldersley
-------------------------------- ---------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Director
-------------------------------- ---------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ---------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Cranswick plc
-------------------------------- ---------------------------------------
b) LEI 549300LDZLPU51XOSK43
-------------------------------- ---------------------------------------
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 Ordinary shares of 10 pence
instrument, type of instrument each
Identification code
GB0002318888
-------------------------------- ---------------------------------------
b) Nature of the transaction Grant of LTIP and CSOP Options
-------------------------------- ---------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Grant of LTIP
Option 0p 32,800
--------- ----------
Grant of CSOP
Option 3250p 615
--------- ----------
-------------------------------- ---------------------------------------
d) Aggregated information
* Aggregated volume n/a
n/a
Option Grant
* Price
* Purpose
-------------------------------- ---------------------------------------
e) Date of the transaction 1 July 2023
-------------------------------- ---------------------------------------
f) Place of the transaction Outside a Trading Venue
-------------------------------- ---------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name John Mark Bottomley
-------------------------------- ---------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Director
-------------------------------- ---------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ---------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Cranswick plc
-------------------------------- ---------------------------------------
b) LEI 549300LDZLPU51XOSK43
-------------------------------- ---------------------------------------
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 Ordinary shares of 10 pence
instrument, type of instrument each
Identification code
GB0002318888
-------------------------------- ---------------------------------------
b) Nature of the transaction Grant of LTIP and CSOP Options
-------------------------------- ---------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Grant of LTIP
Option 0p 32,800
--------- ----------
Grant of CSOP
Option 3250p 615
--------- ----------
-------------------------------- ---------------------------------------
d) Aggregated information
* Aggregated volume n/a
n/a
Option Grant
* Price
* Purpose
-------------------------------- ---------------------------------------
e) Date of the transaction 1 July 2023
-------------------------------- ---------------------------------------
f) Place of the transaction Outside a Trading Venue
-------------------------------- ---------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name James Robert Brisby
-------------------------------- ---------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Director
-------------------------------- ---------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ---------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Cranswick plc
-------------------------------- ---------------------------------------
b) LEI 549300LDZLPU51XOSK43
-------------------------------- ---------------------------------------
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 Ordinary shares of 10 pence
instrument, type of instrument each
Identification code
GB0002318888
-------------------------------- ---------------------------------------
b) Nature of the transaction Grant of LTIP and CSOP Options
-------------------------------- ---------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Grant of LTIP
Option 0p 32,800
--------- ----------
Grant of CSOP
Option 3250p 615
--------- ----------
-------------------------------- ---------------------------------------
d) Aggregated information
* Aggregated volume n/a
n/a
Option Grant
* Price
* Purpose
-------------------------------- ---------------------------------------
e) Date of the transaction 1 July 2023
-------------------------------- ---------------------------------------
f) Place of the transaction Outside a Trading Venue
-------------------------------- ---------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Adam Hartley Couch
-------------------------------- ---------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Director
-------------------------------- ---------------------------------------
b) Initial notification/amendment Initial notification
-------------------------------- ---------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Cranswick plc
-------------------------------- ---------------------------------------
b) LEI 549300LDZLPU51XOSK43
-------------------------------- ---------------------------------------
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 Ordinary shares of 10 pence
instrument, type of instrument each
Identification code
GB0002318888
-------------------------------- ---------------------------------------
b) Nature of the transaction Grant of LTIP and CSOP Options
-------------------------------- ---------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Grant of LTIP
Option 0p 49,620
--------- ----------
Grant of CSOP
Option 3250p 615
--------- ----------
-------------------------------- ---------------------------------------
d) Aggregated information
* Aggregated volume n/a
n/a
Option Grant
* Price
* Purpose
-------------------------------- ---------------------------------------
e) Date of the transaction 1 July 2023
-------------------------------- ---------------------------------------
f) Place of the transaction Outside a Trading Venue
-------------------------------- ---------------------------------------
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END
DSHEAAXDESLDEFA
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July 03, 2023 08:56 ET (12:56 GMT)
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