29 November 2022
Avon Protection plc ("the Company")
PDMRs' Interest in Shares
Release of 2020 deferred bonus shares
As previously announced to shareholders on 8 December 2020, a portion of the annual bonus payments due to PDMRs Miles Ingrey-Counter and James Wilcox in respect of the 2020 financial year were deferred into Company shares, to be held for two years.
On 25 November 2022, following expiry of the deferral period, 359 deferred bonus shares were released to Miles Ingrey-Counter and 456 to James Wilcox.
| 1 | Details of person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | 1) Miles Ingrey-Counter 2) James Wilcox | ||||
| 2 | Reason for the notification | |||||
| a) | Position / status | 1) Company Secretary 2) Chief Technical Officer | ||||
| b) | Initial notification / amendment | Initial notification
| ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Avon Protection plc | ||||
| b) | LEI | 213800JM1AN62REBWA71 | ||||
| 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 and ISIN Code | Ordinary £1 shares in Avon Protection plc
GB0000667013 | ||||
| b) | Nature of the transaction | Shares released under the 2020 deferred bonus scheme. The shares were purchased on 7 December 2020 for £40.04 and were released following expiry of the 2020 deferral period on 22 November 2022. | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated Information - Aggregated volume - Aggregated price - Aggregated total
|
815 Nil Nil | ||||
| e) | Date of the transactions | All occurred on 25 November 2022.
| ||||
| f) | Place of the transaction | Outside of a trading venue.
| ||||
2022 deferred bonus arrangements
A portion of the annual bonus payments due to the Executive Director Rich Cashin and certain PDMRs of the Company in respect of the 2022 financial year were deferred into Company shares on the 25 November 2022. 25% of the annual bonus for the Executive Director, and 25% of the annual bonus linked to financial targets (as distinct from personal performance targets) for the PDMRs, was subject to tax and national insurance/social security and the net amount was used to purchase Company shares. The shares are to be held for two years and are not subject to the Company's shareholding guidelines.
The table below sets out the number of 2022 deferred bonus shares held by the Executive Director and each PDMR following this transaction.
| 1 | Details of person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | 1) Rich Cashin 2) Miles Ingrey-Counter 3) James Wilcox 4) Steve Genzer | ||||
| 2 | Reason for the notification | |||||
| a) | Position / status | 1) Chief Financial Officer 2) Company Secretary 3) Chief Technical Officer 4) Chief Operating Officer | ||||
| b) | Initial notification / amendment | Initial notification
| ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Avon Protection plc | ||||
| b) | LEI | 213800JM1AN62REBWA71 | ||||
| 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 and ISIN Code | Ordinary £1 shares in Avon Protection plc
GB0000667013 | ||||
| b) | Nature of the transaction | Acquisition of shares. 25% of the annual bonus payments for Executive Directors and 25% of the annual bonus payments linked to financial targets (as distinct from personal performance targets) for the PDMRs, was subjected to tax and national insurance/social security and the net amount was used to purchase Company shares. The shares are to be held for two years and are not subject to the Company's shareholding guidelines. | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | - Aggregated volume - Aggregated price - Aggregated total
| N/A | ||||
| e) | Date of the transactions | All occurred on 2022-11-25
| ||||
| f) | Place of the transaction | London Stock Exchange (XLON)
| ||||
LEI: 213800JM1AN62REBWA71
Classification: Transactions by PDMRs under article 19 of the Market Abuse Regulation.
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