Zotefoams plc
(the 'Company')
NOTIFICATION OF TRANSACTIONS OF PDMR
14 June 2021 - On 11 June 2021, the Company received notice from its Employee Benefit Trust of the exercise of nil cost options granted over ordinary shares of 5 pence each ('Shares') under the Company's Deferred Bonus Share Plan ('DBSP') and sale of shares at a price of £4.74 by the following Person Discharging Managerial Responsibilities ('PDMR'):
| PDMR | Award | Number of shares exercised and sold | Number of shares retained | Number of shares sold for tax |
| B Sala
| DBSP 2020 | 11,285 | Nil | Nil |
Awards granted under the DBSP usually vest three years from grant, subject to satisfaction of service conditions. However, given the unprecedented circumstances brought about by COVID-19, and the decision of the Board not to recommend a final dividend for the year ended 31 December 2019, the proportion of the bonus that would normally have been paid in cash under the DBSP 2020 Award was deferred into shares (the 'Deferred Bonus proportion'). The Remuneration Committee has now approved the exercise of the Deferred Bonus proportion taking place prior to 20 April 2023. The proportion of the bonus that would normally be deferred into shares (25%) will continue as normal and will be released after three years.
The award was increased to reflect the dividends paid during the restricted period.
The Notification of Dealing Form can be found below.
This announcement is made in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.
Lydia Harratt
Group Company Secretary
Zotefoams plc
020 8664 1600
About Zotefoams plc
Zotefoams plc (LSE - ZTF) is a world leader in cellular materials technology delivering optimal material solutions for the benefit of society. Utilising a variety of unique manufacturing processes, including environmentally friendly nitrogen expansion for lightweight AZOTE® polyolefin and ZOTEK® high-performance foams, Zotefoams sells to diverse markets worldwide. Zotefoams uses its own cellular materials to manufacture T-FIT® advanced insulation for demanding industrial markets. Zotefoams also owns and licenses patented microcellular foam technology to reduce plastic use in extrusion applications and for ReZorce® mono-material recyclable barrier packaging.
Zotefoams is headquartered in Croydon, UK, with additional manufacturing sites in Kentucky, USA and Brzeg, Poland (foam manufacture), Oklahoma, USA (foam products manufacture and conversion), Massachusetts, USA (MuCell Extrusion) and Jiangsu Province, China (T-FIT).
AZOTE®, ZOTEK®, ReZorce® and T-FIT® are registered trademarks of Zotefoams plc.
ZOTEFOAMS PLC
DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
1. | Details of the person discharging managerial responsibilities/person closely associated | ||||||
| a) | Name: Benito Sala | ||||||
2. | Reason for the notification | ||||||
| a) | Position/status: Senior Executive | ||||||
| b) | Initial notification/Amendment: Initial notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||
| a) | Name: Zotefoams plc | ||||||
| b) | LEI: 213800B6P256B5XN8D32 | ||||||
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: Ordinary shares of 5 pence each Identification code: GB0009896605 | ||||||
| b) | Nature of the transaction: Exercise and sale of shares under the Deferred Bonus Share Plan | ||||||
| c) | Price(s) and volume(s):
| ||||||
| d) | Aggregated information:
| ||||||
| e) | Date of the transaction: 11 June 2021 | ||||||
| f) | Place of the transaction: XLON |
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