Polypipe Group PLC Director/PDMR Shareholding (9316M)
May 02 2018 - 9:22AM
UK Regulatory
TIDMPLP
RNS Number : 9316M
Polypipe Group PLC
02 May 2018
Polypipe Group plc (the "Company')
Notification of Transaction by Persons Discharging Managerial
Responsibilities
The Company hereby notifies the following changes in the
interests of directors and persons discharging managerial
responsibility ("PDMRs") in Ordinary Shares of GBP0.001 each in the
Company ("Shares") on 2 May 2018.
Grant of Long Term Incentive Plan awards
The Company confirms that on 2 May 2018, in accordance with its
shareholder approved Remuneration Policy, it granted to each of the
following Directors/PDMRs an award (structured as a nil cost
option) under the Polypipe Group plc 2014 Long Term Incentive Plan
(the "LTIP"). In addition, the Company made an award, subject to
the same performance conditions as set out below, under the LTIP to
19 members of the Senior Management Team. The awards, which have
been granted in respect of the financial year beginning on 1
January 2018, are over the following maximum number of Shares in
the Company:
Name/Position Category Maximum number of Shares
------------------------------------------ ---------- -------------------------
M K Payne /Chief Executive Officer Director 143,671
------------------------------------------ ---------- -------------------------
P A James/Chief Financial Officer Director 70,536
------------------------------------------ ---------- -------------------------
G B Sabin/Chief Operating Officer Director 73,506
------------------------------------------ ---------- -------------------------
M V Fenson/Business Development Director PDMR 21,233
------------------------------------------ ---------- -------------------------
E G Versluys/Company Secretary PDMR 14,033
------------------------------------------ ---------- -------------------------
The vesting of each award is subject to the satisfaction of the
following performance conditions:
1. 25% of the maximum potential award is based on a Total
Shareholder Return (the "TSR element") performance condition with a
threshold of 25% of the TSR element reached on achieving median and
100% for achieving upper quartile performance relative to the Total
Shareholder Return of the companies in a comparator group
(consisting of companies in the FTSE 250 Index that are classified
as Industrials by the Industry Classification Benchmark) and;
2. 75% of the maximum potential award is based on an Earnings
per Share performance condition (the "EPS element") measured on a
cumulative underlying diluted basis with cumulative targets
equivalent to growth of 5% p.a. required to reach the minimum
threshold of 25% and 12% p.a. growth to reach the maximum of 100%
against 2017 performance.
The TSR and EPS elements are both measured over the three-year
period commencing on 1 January 2018.
Subject to the satisfaction of the performance conditions the
awards will normally vest on 2 May 2021 and remain exercisable
until the tenth anniversary of the grant date.
The notifications below, which have been made in accordance with
the requirements of the EU Market Abuse Regulation, provide further
detail.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated.
1 Details of the person discharging managerial responsibilities
/ person closely associated
--- --------------------------------------------------------------------
a) Name Martin Payne
--- -------------------------- ----------------------------------------
2 Reason for the notification
--- --------------------------------------------------------------------
a) Position/status Chief Executive Officer/Director
and PDMR
--- -------------------------- ----------------------------------------
b) Initial notification Initial notification
/Amendment
--- -------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--- --------------------------------------------------------------------
a) Name Polypipe Group plc
--- -------------------------- ----------------------------------------
b) LEI 2138005IF1N2RKJ6KO18
--- -------------------------- ----------------------------------------
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 Ordinary Shares of GBP0.001 each
financial instrument, in the capital of Polypipe Group
type of instrument plc
Identification code
GB00BKRC5K31
--- -------------------------- ----------------------------------------
b) Nature of the transaction Grant of an award, structured as
a nil cost option, under the Company's
2014 Long Term Incentive Plan.
--- -------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 143,671
---------- ----------
--- -------------------------- ----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
--- -------------------------- ----------------------------------------
e) Date of the transaction 2 May 2018
--- -------------------------- ----------------------------------------
f) Place of the transaction Outside of a Trading Venue
--- -------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
--- --------------------------------------------------------------------
a) Name Paul James
--- -------------------------- ----------------------------------------
2 Reason for the notification
--- --------------------------------------------------------------------
a) Position/status Chief Financial Officer/Director
and PDMR
--- -------------------------- ----------------------------------------
b) Initial notification Initial notification
/Amendment
--- -------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--- --------------------------------------------------------------------
a) Name Polypipe Group plc
--- -------------------------- ----------------------------------------
b) LEI 2138005IF1N2RKJ6KO18
--- -------------------------- ----------------------------------------
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 Ordinary Shares of GBP0.001 each
financial instrument, in the capital of Polypipe Group
type of instrument plc
Identification code
GB00BKRC5K31
--- -------------------------- ----------------------------------------
b) Nature of the transaction Grant of an award, structured as
a nil cost option, under the Company's
2014 Long Term Incentive Plan.
--- -------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 70,536
---------- ----------
--- -------------------------- ----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
--- -------------------------- ----------------------------------------
e) Date of the transaction 2 May 2018
--- -------------------------- ----------------------------------------
f) Place of the transaction Outside of a Trading Venue
--- -------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
--- --------------------------------------------------------------------
a) Name Glen Sabin
--- -------------------------- ----------------------------------------
2 Reason for the notification
--- --------------------------------------------------------------------
a) Position/status Chief Operating Officer/Director
and PDMR
--- -------------------------- ----------------------------------------
b) Initial notification Initial notification
/Amendment
--- -------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--- --------------------------------------------------------------------
a) Name Polypipe Group plc
--- -------------------------- ----------------------------------------
b) LEI 2138005IF1N2RKJ6KO18
--- -------------------------- ----------------------------------------
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 Ordinary Shares of GBP0.001 each
financial instrument, in the capital of Polypipe Group
type of instrument plc
Identification code
GB00BKRC5K31
--- -------------------------- ----------------------------------------
b) Nature of the transaction Grant of an award, structured as
a nil cost option, under the Company's
2014 Long Term Incentive Plan.
--- -------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 73,506
---------- ----------
--- -------------------------- ----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
--- -------------------------- ----------------------------------------
e) Date of the transaction 2 May 2018
--- -------------------------- ----------------------------------------
f) Place of the transaction Outside of a Trading Venue
--- -------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
--- --------------------------------------------------------------------
a) Name Vince Fenson
--- -------------------------- ----------------------------------------
2 Reason for the notification
--- --------------------------------------------------------------------
a) Position/status PDMR
--- -------------------------- ----------------------------------------
b) Initial notification Initial notification
/Amendment
--- -------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--- --------------------------------------------------------------------
a) Name Polypipe Group plc
--- -------------------------- ----------------------------------------
b) LEI 2138005IF1N2RKJ6KO18
--- -------------------------- ----------------------------------------
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 Ordinary Shares of GBP0.001 each
financial instrument, in the capital of Polypipe Group
type of instrument plc
Identification code
GB00BKRC5K31
--- -------------------------- ----------------------------------------
b) Nature of the transaction Grant of an award, structured as
a nil cost option, under the Company's
2014 Long Term Incentive Plan.
--- -------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 21,233
---------- ----------
--- -------------------------- ----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
--- -------------------------- ----------------------------------------
e) Date of the transaction 2 May 2018
--- -------------------------- ----------------------------------------
f) Place of the transaction Outside of a Trading Venue
--- -------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
----- -----------------------------------------------------------------------------------------------------------
a) Name Emma Versluys
----- ---------------------------------------------------------------- -----------------------------------------
2 Reason for the notification
----- -----------------------------------------------------------------------------------------------------------
a) Position/status PDMR
----- ---------------------------------------------------------------- -----------------------------------------
b) Initial notification Initial notification
/Amendment
----- ---------------------------------------------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----- -----------------------------------------------------------------------------------------------------------
a) Name Polypipe Group plc
----- ---------------------------------------------------------------- -----------------------------------------
b) LEI 2138005IF1N2RKJ6KO18
----- ---------------------------------------------------------------- -----------------------------------------
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 Ordinary Shares of GBP0.001 each
financial instrument, in the capital of Polypipe Group
type of instrument plc
Identification code
GB00BKRC5K31
----- ---------------------------------------------------------------- -----------------------------------------
b) Nature of the transaction Grant of an award, structured as
a nil cost option, under the Company's
2014 Long Term Incentive Plan.
----- ---------------------------------------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 14,033
---------- ----------
----- ---------------------------------------------------------------- -----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
----- ---------------------------------------------------------------- -----------------------------------------
e) Date of the transaction 2 May 2018
----- ---------------------------------------------------------------- -----------------------------------------
f) Place of the transaction Outside of a Trading Venue
----- ---------------------------------------------------------------- -----------------------------------------
Contact:
Emma Versluys, Company Secretary +44 (0) 1709 770 000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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