13 December 2023
Chemring Group PLC
PDMR share awards
Chemring Group PLC ("Chemring" or "the Company") announces that, today, two awards over 79,665 ordinary 1p shares each in the capital of the Company have been granted to James Mortensen, a director of the Company and the new Chief Financial Officer with effect from 1 January 2024. The two awards have been made as part of the buy-out arrangements agreed with Mr Mortensen in relation to incentives with his previous employer he forfeited on taking up the appointment with the Company.
- The first award over 79,665 ordinary 1p shares will vest subject to the extent that the performance conditions associated with the December 2021 awards made under the Chemring Group Performance Share Plan are met, based on the Company's performance to 31 October 2024.
- The second award over 79,665 ordinary 1p shares will vest subject to the extent that the performance conditions associated with the December 2022 awards made under the Chemring Group Performance Share Plan are met, based on the Company's performance to 31 October 2025.
Any shares vesting under the above two awards will be subject to a two-year holding period post-vesting.
Further details on the buy-out arrangements are included in the Company's 2023 Annual Report.
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 Mortensen | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Director/PDMR | ||||
| b)
| Initial notification /Amendment
| Initial | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| Chemring Group PLC | ||||
| b)
| LEI
| 213800U9A54VQJ5P2J41 | ||||
| 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 instrument, type of instrument
Identification code
| Ordinary 1p shares
GB00B45C9X44 | ||||
| b)
| Nature of the transaction
| Conditional award over ordinary 1p shares to align with December 2021 awards under the Chemring Group Performance Share Plan
| ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||
| e)
| Date of the transaction
| 13 December 2023 | ||||
| f)
| Place of the transaction
| UK | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
|
James Mortensen | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Director/PDMR | ||||
| b)
| Initial notification /Amendment
| Initial | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| Chemring Group PLC | ||||
| b)
| LEI
| 213800U9A54VQJ5P2J41 | ||||
| 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 instrument, type of instrument
Identification code
| Ordinary 1p shares
GB00B45C9X44 | ||||
| b)
| Nature of the transaction
| Conditional award over ordinary 1p shares to align with December 2022 awards under the Chemring Group Performance Share Plan
| ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||
| e)
| Date of the transaction
| 13 December 2023 | ||||
| f)
| Place of the transaction
| UK | ||||
For further information:
| Chemring Group PLC | | |
| Sarah Ellard | Group Legal Director | +44 (0)7710 553757
|
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