Norcros PLC Directors' Dealings - APSP Share Option awards (2189G)
November 23 2020 - 9:12AM
UK Regulatory
TIDMNXR
RNS Number : 2189G
Norcros PLC
23 November 2020
Norcros plc ("Norcros" or "the Company")
Directors' Dealings - APSP Share Option awards
Director/PDMR Shareholding
Norcros announces that the Board, following a recommendation
from the Remuneration Committee, has granted new share options to
the following Directors under the Company's Approved Performance
Share Plan (the "APSP") on 23 November 2020.
The notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation ("MAR"), provide
further details.
APSP Share Option Awards
The Company has today granted the following unapproved nil cost
share option awards under the APSP in respect of the current
financial year (the "APSP Awards") to the Executive Directors of
the Company over ordinary shares of ten pence each in the Company
("Ordinary Shares").
Under the APSP, awards are made subject to performance targets
relating to improvements in the Company's Earnings Per Share
("EPS"). Vesting of these Ordinary Shares will be subject to
achieving certain EPS targets at the end of a three year
performance period, starting with the 2021 financial year.
The APSP Awards will normally vest on the third anniversary of
their grant, subject to satisfactory achievement of the performance
targets. No consideration was paid for the APSP Awards.
Name Number of Ordinary Shares subject
to the APSP Award
Nick Kelsall 194,409
Shaun Smith 130,573
----------------------------------
MAR Notification
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 Nick Kelsall
-------------------------- ----------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Chief Executive Officer
-------------------------- ----------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Norcros plc
-------------------------- ----------------------------------------------
b) LEI 213800EIMJZZA1GBIE18
-------------------------- ----------------------------------------------
4 Details of the transaction(s): section to be repeated for (i)
A 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 Share of 10 pence
financial instrument,
type of instrument
GB00BYYJL418
Identification code
-------------------------- ----------------------------------------------
b) Nature of the transaction Grant of 194,409 options under the Company's
Approved Performance Share Plan (the "APSP")
on 23 November 2020
-------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
n/a n/a
----------
-------------------------- ----------------------------------------------
d) Aggregated information
- Aggregated volume n/a
- Price n/a
-------------------------- ----------------------------------------------
e) Date of the transaction 23 November 2020
-------------------------- ----------------------------------------------
f) Place of the transaction Wilmslow, Cheshire, England
-------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Shaun Smith
-------------------------- ----------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Chief Financial Officer
-------------------------- ----------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Norcros plc
-------------------------- ----------------------------------------------
b) LEI 213800EIMJZZA1GBIE18
-------------------------- ----------------------------------------------
4 Details of the transaction(s): section to be repeated for (i)
A 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 Share of 10 pence
financial instrument,
type of instrument
GB00BYYJL418
Identification code
-------------------------- ----------------------------------------------
b) Nature of the transaction Grant of 130,573 options under the Company's
Approved Performance Share Plan (the "APSP")
on 23 November 2020
-------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
n/a n/a
----------
-------------------------- ----------------------------------------------
d) Aggregated information
- Aggregated volume n/a
- Price n/a
-------------------------- ----------------------------------------------
e) Date of the transaction 23 November 2020
-------------------------- ----------------------------------------------
f) Place of the transaction Wilmslow, Cheshire, England
-------------------------- ----------------------------------------------
Further enquiries:
Norcros plc Tel: 01625 547 700
Nick Kelsall, Chief Executive
Officer
Shaun Smith, Chief Financial
Officer
Hudson Sandler Tel: 0207 796 4133
Nick Lyon
Charlie Jack
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END
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