Spectris plc: Director/PDMR Shareholding
This notification is made under Article 19(1) of the EU Market Abuse Regulation 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR") and relates to the grant of share awards under the terms of the Spectris Long Term Incentive Plan ("LTIP") to persons discharging managerial responsibilities ("PDMRs").
On 12 April 2021, Spectris plc (the "Company") was informed that, on the same day, the Executive Directors and PDMRs of the Company accepted awards granted by the Company of nominal-cost share options over ordinary 5p shares on 17 March 2021, pursuant to the terms of the LTIP ("LTIP Awards"), as set out below:
| Name | Position | Maximum number of shares that may vest under the LTIP Awards granted 1 |
| Derek Harding | Chief Financial Officer | 42,296 |
| Andrew Heath | Chief Executive | 54,318 |
1. Includes 1.4X multiplier. More details on the performance conditions attached to these LTIP Awards and the multiplier can be found in the Company's 2020 Remuneration Policy
The total number of ordinary shares over which these LTIP Awards were accepted on 12 April 2021 represents approximately 0.1% of the Company's issued ordinary share capital on that date.
No consideration was paid for the grant of the LTIP Awards.
The vesting of these LTIP Awards is subject to the continued employment of the Executive Directors and the satisfaction of performance conditions set by the Remuneration Committee of the Company. The LTIP Awards will normally vest on the later of the third anniversary of grant and the determination of the performance conditions. The Executive Directors' LTIP Awards are then subject to an additional two-year vesting period. To the extent that these LTIP Awards vest, they are exercisable for a period of five years from the end of the additional vesting period.
The nominal award price payable by each participant on the exercise of these LTIP Awards is 5 pence per share.
The information set out below is provided in accordance with the requirements of Article 19(3) of MAR and provides further detail:
| 1 | Details of the persons discharging managerial responsibilities | |||
| a) | Name(s) | Derek Harding
| ||
| 2 | Reason for the notification | |||
| a) | Position/status | Director and PDMR | ||
| b) | Initial notification/Amendment | Initial Notification | ||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
| a) | Name | Spectris plc | ||
| b) | LEI | 213800Z4CO2CZO3M3T10 | ||
| 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 | Option granted over ordinary shares of 5p each
| ||
| b) | Nature of the transaction | Acceptance of a grant of a share option over ordinary shares of 5p each on 12 April 2021, pursuant to the terms of the LTIP | ||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | |
| £0.05 | Nominal-cost option under which a maximum of 42,296 ordinary shares may vest | |||
| d) | Aggregated information | Aggregated Volume | n/a | |
| Price | n/a | |||
| e) | Date of the transaction | 12 April 2021 | ||
| f) | Place of the transaction | Outside a trading venue | ||
| 1 | Details of the persons discharging managerial responsibilities | |||
| a) | Name(s) | Andrew Heath
| ||
| 2 | Reason for the notification | |||
| a) | Position/status | Director and PDMR | ||
| b) | Initial notification/Amendment | Initial Notification | ||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
| a) | Name | Spectris plc | ||
| b) | LEI | 213800Z4CO2CZO3M3T10 | ||
| 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 | Option granted over ordinary shares of 5p each
| ||
| b) | Nature of the transaction | Acceptance of a grant of a share option over ordinary shares of 5p each on 12 April 2021, pursuant to the terms of the LTIP. | ||
| c) | Price(s) and volume(s) | Price(s) | Volume(s) | |
| £0.05
| Nominal-cost option under which a maximum of 54,318 ordinary shares may vest
| |||
| d) | Aggregated information | Aggregated Volume | n/a | |
| Price | n/a | |||
| e) | Date of the transaction | 12 April 2021 | ||
| f) | Place of the transaction | Outside a trading venue | ||
Name of contact and telephone number for queries:
Eliza Unwin
Senior Assistant Company Secretary
07785421875
For and on behalf of Spectris plc
LEI Number: 213800Z4CO2CZO3M3T10
Date: 12 April 2021
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