Source - LSE Regulatory
RNS Number : 1640Q
TI Fluid Systems PLC
17 June 2020
 

 

TI Fluid Systems plc

(the "Company")

 

Notification of transaction of Directors/ Persons Discharging Managerial Responsibilities ("PDMR")

 

Grant of Awards under the Company's Long Term Incentive Plan (the "Plan")

 

 

The awards will vest, subject to the rules of the Plan, based on the Company's performance, which will be measured over a three-year period from 2020-2022.  As previously indicated in the Company's 2019 Annual Report and Accounts, specific performance measures and targets for awards under the Plan were not determined in March 2020 due to the uncertainty resulting from the COVID-19 pandemic.  Specific performance measures and targets have now been established which are aligned to shareholder interests and the Company's priority of the preservation and generation of cash in light of the various potential outcomes arising from the COVID-19 pandemic.  As a result, the Company will no longer consider Adjusted Basic Earnings Per Share Growth (Compound Annual Growth Rate), and the specific performance measures and targets applicable to these awards are as follows:

 

 

 The awards were made at no cost to the individual.  The per share price used for the purposes of calculating the maximum number of shares subject to these awards was £1.70, being the closing price on the London Stock Exchange as at 12 June 2020, the day prior to the grant date of the awards.

 

The following notifications are made in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation.

 

Enquiries:

 

 

 

 

TI Fluid Systems plc:

David Royce

Investor Relations

 

+1 (248) 376 8624

 

FTI Consulting:

+44 (0)20 3727 1340

Richard Mountain

 

Nick Hasell

 

 

 

 

 

Details of the person discharging managerial responsibilities/person closely associated

 

Name

 

William L. Kozyra

 

Reason for the notification

 

Position/status

 

Chief Executive Officer & President

 

Initial notification/ Amendment

 

Initial notification

 

Details of the issuer

 

Name

 

TI Fluid Systems plc

 

LEI

 

5493001T9RXVD6OAWY46

 

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

 

Description of the financial instrument,

type of instrument

Identification code

 

Ordinary shares of TI Fluid Systems plc

GB00BYQB9V88

 

Nature of the transaction

Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration.

 

Price(s) and volume(s)

 

 Price(s)                                    Volume(s)

 

 Nil                                               2,127,970              

 

 

Aggregated information

-      Aggregated volume

-      Price

 

N/A

 

Date and time of the transaction

 

15 June 2020

 

Place of the transaction

 

 Outside a trading venue

 

 

 

Details of the person discharging managerial responsibilities/person closely associated

 

Name

 

Ronald Hundzinski

 

Reason for the notification

 

Position/status

 

Chief Financial Officer

 

Initial notification/ Amendment

 

Initial notification

 

Details of the issuer

 

Name

 

TI Fluid Systems plc

 

LEI

 

5493001T9RXVD6OAWY46

 

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

 

Description of the financial instrument,

type of instrument

Identification code

 

Ordinary shares of TI Fluid Systems plc 

GB00BYQB9V88

 

Nature of the transaction

Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration.

 

Price(s) and volume(s)

 

 Price(s)                                    Volume(s)

 

 Nil                                              843,261

 

 

Aggregated information

-      Aggregated volume

-      Price

 

N/A

 

 

Date and time of the transaction

 

 15 June 2020

 

Place of the transaction

 

 Outside a trading venue

 

 

 

 

Details of the person discharging managerial responsibilities/person

closely associated

 

Name

 

Hans Dieltjens

 

Reason for the notification

 

Position/status

 

Executive Vice President - FTDS

 

Initial notification/ Amendment

 

Initial notification

 

Details of the issuer

 

Name

 

TI Fluid Systems plc

 

LEI

 

5493001T9RXVD6OAWY46

 

 

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

 

Description of the financial instrument,

type of instrument

Identification code

 

Ordinary shares of TI Fluid Systems plc

GB00BYQB9V88

 

Nature of the transaction

Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration.

 

Price(s) and volume(s)

 

 Price(s)                                    Volume(s)

 

 Nil                                                  500,686

 

 

Aggregated information

-      Aggregated volume

-      Price

 

N/A

 

Date and time of the transaction

 

15 June 2020

 

Place of the transaction

 

 Outside a trading venue

 

 

 

 

Details of the person discharging managerial responsibilities/person closely associated

 

Name

 

Stefan Rau

 

Reason for the notification

 

Position/status

 

Executive Vice President - FCS

 

Initial notification/ Amendment

 

Initial notification

 

Details of the issuer

 

Name

 

TI Fluid Systems plc

 

LEI

 

5493001T9RXVD6OAWY46

 

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

 

Description of the financial instrument,

type of instrument

Identification code

 

Ordinary shares of TI Fluid Systems plc

GB00BYQB9V88

 

Nature of the transaction

Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration.

 

Price(s) and volume(s)

 

 Price(s)                                    Volume(s)

 

 Nil                                                  387,110

 

 

Aggregated information

-      Aggregated volume

-      Price

 

N/A

 

 

Date and time of the transaction

 

 15 June 2020

 

Place of the transaction

 

 Outside a trading venue

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
DSHDGGDLCXBDGGL
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.