16 March 2021
TT Electronics plc
Deferred Share Bonus Plan
TT Electronics plc (the "Company") announces that conditional awards of ordinary shares of 25p each in the Company ("Shares") were granted on 16 March 2021 under the Company's Deferred Share Bonus Plan to the Executive Directors of the Company.
In deciding the 2020 short-term incentive award to the Executive Directors, the Remuneration Committee decided to defer the full award into Shares rather than adopt the 80 per cent cash payment and 20 per cent deferred share approach as per the default under the Remuneration Policy and accordingly the awards represent such 100 per cent deferral in Shares.
Executive Director Number of Shares
Richard Tyson 105,058
Mark Hoad 78,808
In line with the Remuneration Policy 20 per cent of the award will vest on the second anniversary and the remaining 2020 STIP award, deferred in excess of the Remuneration Policy default, will vest on the first anniversary.
No consideration was payable for the grant of awards.
Awards are subject to malus and clawback provisions.
The Company was informed of the above transactions on 16 March 2021. The following notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further details.
| 1. | Details of PDMR / person closely associated with them ('PCA') | |||||
| a) | Name | Richard Tyson
| ||||
| 2. | Reason for the notification | |||||
| a) | Position / status | CEO | ||||
| b) | Initial notification / Amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | TT Electronics plc | ||||
| b) | LEI | 213800TJGBW5VFHQEV54 | ||||
| 4. | Details of the transaction(s) | |||||
| a) | Description of the financial instrument, type of instrument
Identification Code | Ordinary shares of 25p each
GB0008711763 | ||||
| b) | Nature of the transaction | Grant of conditional award of ordinary shares under the terms of the Deferred Share Bonus Plan. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information Aggregated volume Price |
See 4c above See 4c above
| ||||
| e) | Date of the transaction | 2021-03-16 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of PDMR / person closely associated with them ('PCA') | |||||
| a) | Name | Mark Hoad
| ||||
| 2. | Reason for the notification | |||||
| a) | Position / status | CFO | ||||
| b) | Initial notification / Amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | TT Electronics plc | ||||
| b) | LEI | 213800TJGBW5VFHQEV54 | ||||
| 4. | Details of the transaction(s) | |||||
| a) | Description of the financial instrument, type of instrument
Identification Code | Ordinary shares of 25p each
GB0008711763 | ||||
| b) | Nature of the transaction | Grant of conditional award of ordinary shares under the terms of the Deferred Share Bonus Plan.
| ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information Aggregated volume Price |
See 4c above See 4c above
| ||||
| e) | Date of the transaction | 2021-03-16 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
For further information please contact:
TT Electronics plc
Richard Tyson, Chief Executive Officer: Tel: + 44 (0)1932 825300
Mark Hoad, Chief Financial Officer:
Julian Wais, Head of Investor Relations
MHP Communications
Tim Rowntree / Rachel Mann: Tel: +44 (0)20 3128 8100
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