Source - RNS
RNS Number : 8604G
Avon Rubber PLC
19 March 2020
 

NOTIFICATION DEALING WITH GRANT OF AWARDS UNDER THE PLAN

 

AVON RUBBER P.L.C.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.

On 17 March 2020 the following awards over ordinary shares of £1 each in Avon Rubber p.l.c. were granted under the Avon Rubber p.l.c. Long Term Incentive Plan to the following person(s) discharging managerial responsibilities:

PDMR

No. of shares under Award

Paul McDonald

31,734

Nick Keveth

22,059

Miles Ingrey-Counter

9,832

Craig Sage

8,737

James Wilcox

10,616

David Mack

9,840

Terry Griffith

6,867

The awards were granted as a nil cost option for the four UK resident PDMRs and conditional awards for James Wilcox, David Mack and Terry Griffith who are resident in the US.  The nil cost option awards will ordinarily become exercisable and the conditional awards will ordinarily vest on 1 December 2022, subject to the grantee's continued service and the Remuneration Committee's assessment of the extent to which the performance conditions applicable to the awards are satisfied.

Each award is subject to two performance conditions (each applicable to a distinct 50% of an award) measured over a period of three financial years, starting with the 2020 financial year. The first performance condition compares the Company's total shareholder return to the total shareholder return of a comparator group of companies consisting of the FTSE All-Share Index. The second performance condition measures compound average annual growth in the Company's earnings per share over the period of three financial years, starting with the 2020 financial year.

Fuller details of the performance condition applicable to the awards shall are set out in the Company's Directors' Remuneration Report for the year ending 30 September 2019.

The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.

Details of the full notifications received by the Company are set out below.

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Paul McDonald

2

Reason for Notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Avon Rubber p.l.c.

b)

LEI

213800JM1AN62REBWA71

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 Shares of £1 each in Avon Rubber p.l.c.

 

GB0000667013

b)

Nature of the transaction

Grant of a nil cost option award under the Avon Rubber p.l.c. Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

31,734

d)

Aggregated information

Aggregated volume

Price

Not applicable - single transaction

e)

Date of the transaction

17 March 2020

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Nick Keveth

2

Reason for Notification

a)

Position/status

Chief Financial Officer

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Avon Rubber p.l.c.

b)

LEI

213800JM1AN62REBWA71

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 Shares of £1 each in Avon Rubber p.l.c.

 

GB0000667013

b)

Nature of the transaction

Grant of a nil cost option award under the Avon Rubber p.l.c. Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

22,059

d)

Aggregated information

Aggregated volume

Price

Not applicable - single transaction

e)

Date of the transaction

17 March 2020

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Miles Ingrey-Counter

2

Reason for Notification

a)

Position/status

Company Secretary

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Avon Rubber p.l.c.

b)

LEI

213800JM1AN62REBWA71

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 Shares of £1 each in Avon Rubber p.l.c.

 

GB0000667013

b)

Nature of the transaction

Grant of a nil cost option award under the Avon Rubber p.l.c. Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

9,832

d)

Aggregated information

Aggregated volume

Price

Not applicable - single transaction

e)

Date of the transaction

17 March 2020

f)

Place of the transaction

Outside a trading venue

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Craig Sage

2

Reason for Notification

a)

Position/status

Divisional Head - Dairy

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Avon Rubber p.l.c.

b)

LEI

213800JM1AN62REBWA71

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 Shares of £1 each in Avon Rubber p.l.c.

 

GB0000667013

b)

Nature of the transaction

Grant of a nil cost option award under the Avon Rubber p.l.c. Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

8,737

d)

Aggregated information

Aggregated volume

Price

Not applicable - single transaction

e)

Date of the transaction

17 March 2020

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

James Wilcox

2

Reason for Notification

a)

Position/status

Divisional Head - Military

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Avon Rubber p.l.c.

b)

LEI

213800JM1AN62REBWA71

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 Shares of £1 each in Avon Rubber p.l.c.

 

GB0000667013

b)

Nature of the transaction

Grant of a conditional award under the Avon Rubber p.l.c. Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

10,616

d)

Aggregated information

Aggregated volume

Price

Not applicable - single transaction

e)

Date of the transaction

17 March 2020

f)

Place of the transaction

Outside a trading venue

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

David Mack

2

Reason for Notification

a)

Position/status

Divisional Head- First Responder

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Avon Rubber p.l.c.

b)

LEI

213800JM1AN62REBWA71

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 Shares of £1 each in Avon Rubber p.l.c.

 

GB0000667013

b)

Nature of the transaction

Grant of a conditional award under the Avon Rubber p.l.c. Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

9,840

d)

Aggregated information

Aggregated volume

Price

Not applicable - single transaction

e)

Date of the transaction

17 March 2020

f)

Place of the transaction

Outside a trading venue

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Terry Griffith

2

Reason for Notification

a)

Position/status

Divisional Head - Helmets & Armor

b)

Initial notification/Amendment

Initial Announcement

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Avon Rubber p.l.c.

b)

LEI

213800JM1AN62REBWA71

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 Shares of £1 each in Avon Rubber p.l.c.

 

GB0000667013

b)

Nature of the transaction

Grant of a conditional award under the Avon Rubber p.l.c. Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

6,867

d)

Aggregated information

Aggregated volume

Price

Not applicable - single transaction

e)

Date of the transaction

17 March 2020

f)

Place of the transaction

Outside a trading venue

 

 

 

 

Enquiries: 

 

Avon Rubber p.l.c.

Miles Ingrey-Counter, Company Secretary  01225 896 850 

 


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