17 March 2022
TT Electronics plc
Deferred Share Bonus Plan
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
TT Electronics Deferred Share Bonus Plan ("DSBP"): vesting of 2021 Awards and related sales.
On 16 March 2021, the Company announced that conditional awards of ordinary shares of 25p each in the Company ("Shares"), equal to 100 per cent of the 2020 short-term incentive award, had been granted under the DSBP to the Executive Directors of the Company, with 80 per cent of the deferred Shares vesting on the first anniversary of the award and the remaining 20 per cent of the deferred Shares on the second anniversary. On 16 March 2022, 80 per cent of the deferred shares vested on the first anniversary of the conditional award of Shares described above.
The table below shows the number of related Shares acquired by the Executive Directors, the number of Shares sold to satisfy the tax and national insurance liabilities, and the number of Shares retained following the sales.
| Executive Director | Shares Vested | Shares sold to satisfy tax and NI liabilities | Shares retained | Resultant beneficial interest in the Company's shares |
| Richard Tyson | 84,047 | 39,503 | 44,544 | 1,006,6661 |
| Mark Hoad | 63,047 | 29,633 | 33,414 | 779,4462 |
1 R Tyson's beneficial interest includes shares held by a PCA, Louise Tyson.
2 M Hoad's beneficial interest includes shares held by a PCA, Tracy Hoad.
The Company makes this announcement, including the notifications below, in accordance with the requirements of the EU Market Abuse Regulation.
| 1. | Details of PDMR / person closely associated with them ('PCA') | |||||
| a) | Name | 1) Richard Tyson 2) Mark Hoad
| ||||
| 2. | Reason for the notification | |||||
| a) | Position / status | 1) CEO 2) 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 | Acquisition of ordinary shares arising in connection with the settlement of Deferred Share Bonus Plan award granted on 16 March 2021 | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information
Aggregated volume Price |
147,094 £0.00
| ||||
| e) | Date of the transaction | 2022-03-16 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of PDMR / person closely associated with them ('PCA') | |||||
| a) | Name | 1) Richard Tyson 2) Mark Hoad
| ||||
| 2. | Reason for the notification | |||||
| a) | Position / status | 1) CEO 2) 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 | Disposal of shares to satisfy tax and NI liabilities in respect of the settlement of Deferred Share Bonus Plan award granted on 16 March 2021 | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information
Aggregated volume Price |
69,136 £2.01
| ||||
| e) | Date of the transaction | 2022-03-16 | ||||
| f) | Place of the transaction | London Stock Exchange | ||||
For further information please contact:
TT Electronics plc
Richard Tyson, Chief Executive Officer: Tel: + 44 (0)1932 825300
Mark Hoad, Chief Financial Officer:
Kate Moy, Head of Investor Relations
MHP Communications
Tim Rowntree / Pete Lambie: Tel: +44 (0)20 3128 8100
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
