Source - LSE Regulatory
RNS Number : 0123C
Mpac Group PLC
12 June 2019
 

12 June 2019

 

Mpac Group plc

("Mpac" or the "Company")

Awards under Long Term Incentive Plan

 

Mpac Group plc (AIM: MPAC) announces that on 12 June 2019 its Executive Directors were granted the following share awards as conditional rights to acquire ordinary shares of 25p each in the Company ('Conditional Awards'):

Director                                  Position                                                                            Number of Shares

                                                                                                                                 under Conditional Award

Dr A Steels                             Chief Executive                                                                              210,000

Mr W C Wilkins                     Group Finance Director                                                              120,000

 

Further details relating to the operation of the Long Term Incentive Plan will be provided in the Company's 2019 Annual Report and Accounts.

Set out below are the notifications, made in accordance with the requirements of the EU Market Abuse Regulation, in relation to the grant of Conditional Awards.

Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMR") and persons closely associated with them.

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Dr A Steels - Chief Executive

2

Reason for the notification

a)

Position/status

See 1(a) above - Dr Steels is classified as a PDMR of the Company

b)

Initial notification/Amendment

Initial Notification

3

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

a)

Name

Mpac Group plc

b)

LEI

213800J3KUDYLRHHU562

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 25p each ("Ordinary Shares")

GB0005991111

b)

Nature of the transaction

Conditional Award of ordinary shares pursuant to the rules of the Company's Long Term Incentive Plan.

The performance conditions for the awards relate to i) cumulative Earnings Per Share, and ii) average Return on Capital Employed, in each case over the three-year period ending 31 December 2021.  Awards automatically vest, to the extent the performance conditions are met, at the end of the performance period. The awards are subject to a holding period of a further two years following vesting. The rights of the shares are deferred, such that any dividends and other distributions attaching to the shares between the date of the award and vesting do not form part of the award.

c)

Price(s) and volume(s)

Volume(s): Conditional Award over 210,000 shares

 

Price: £Nil

 

 

d)

Aggregated information

-      Volume

 

-      Price

 

-      Total

N/A

e)

Date of the transaction

12 June 2019

f)

Place of the transaction

Outside a trading volume

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Mr W C Wilkins - Group Finance Director

2

Reason for the notification

a)

Position/status

See 1(a) above - Mr Wilkins is classified as a PDMR of the Company

b)

Initial notification/Amendment

Initial Notification

3

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

a)

Name

Mpac Group plc

b)

LEI

213800J3KUDYLRHHU562

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 25p each ("Ordinary Shares")

GB0005991111

b)

Nature of the transaction

Conditional Award of ordinary shares pursuant to the rules of the Company's Long Term Incentive Plan.

The performance conditions for the awards relate to i) cumulative Earnings Per Share, and ii) average Return on Capital Employed, in each case over the three-year period ending 31 December 2021.  Awards automatically vest, to the extent the performance conditions are met, at the end of the performance period. The awards are subject to a holding period of a further two years following vesting. The rights of the shares are deferred, such that any dividends and other distributions attaching to the shares between the date of the award and vesting do not form part of the award.

c)

Price(s) and volume(s)

Volume(s): Conditional Award over 120,000 shares

 

Price: £Nil

 

 

d)

Aggregated information

-      Volume

 

-      Price

 

-      Total

N/A

e)

Date of the transaction

12 June 2019

f)

Place of the transaction

Outside a trading volume

 

For further information, please contact:

Mpac Group plc                                                                                                                Tel: +44 (0) 2476 421100

Duncan Tyler, Company Secretary

 

Panmure Gordon (UK) Limited (Nominated Advisor & Broker)                               Tel: +44 (0) 20 7886 2500

Dominic Morley

James Stearns

 

Hudson Sandler                                                                                                                Tel: +44 (0) 20 7796 4133

Nick Lyon

Nick Moore


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