Last checked at 29 Nov 2019 12:00
29 November 2019
Avon Rubber p.l.c. ('the Company')
Directors' and PDMRs' Interest in Shares
Release of 2017 deferred bonus shares
As previously announced to shareholders on 24 November 2017, a portion of the annual bonus payments due to Chief Executive Officer Paul McDonald, Chief Financial Officer Nick Keveth, PDMR Miles Ingrey-Counter and PDMR Craig Sage, in respect of the 2017 financial year were deferred into Company shares, to be held for two years.
On 26 November 2019, following expiry of the deferral period, 1,443 deferred bonus shares were released to Paul McDonald, 364 to Nick Keveth, 1,063 to Miles Ingrey-Counter and 367 to Craig Sage. Paul McDonald and Miles Ingrey-Counter sold these shares at a price of 2002.5 pence per share on 26 November 2019. Deferred bonus shares are not subject to the Company's shareholding guidelines.
1 | Details of person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Paul McDonald | ||||
2 | Reason for the notification | |||||
a) | Position / status | Chief Executive Officer | ||||
b) | Initial notification / amendment | Initial notification
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3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Avon Rubber p.l.c. | ||||
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 Rubber p.l.c.
GB0000667013 | ||||
b) | Nature of the transaction | Sale of shares. Following expiry of the deferral period, the 2017 deferred bonus shares purchased on 23 November 2017 were released to and were sold by Paul McDonald.
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c) | Price(s) and volume(s)
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d) | Aggregated Information - Aggregated volume - Aggregated price - Aggregated total
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N/A | ||||
e) | Date of the transaction | 2019-11-26
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f) | Place of the transaction | London Stock Exchange (XLON)
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1 | Details of person discharging managerial responsibilities/person closely associated | |||
a) | Name | Miles Ingrey-Counter | ||
2 | Reason for the notification | |||
a) | Position / status | Company Secretary | ||
b) | Initial notification / amendment | Initial notification
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3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||
a) | Name | Avon Rubber p.l.c. | ||
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 Rubber p.l.c.
GB0000667013 | ||
b) | Nature of the transaction | Sale of shares. Following expiry of the deferral period, the 2017 deferred bonus shares purchased on 23 November 2017 were released to and were sold by Miles Ingrey-Counter.
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c) | Price(s) and volume(s)
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d) | Aggregated Information - Aggregated volume - Aggregated price - Aggregated total
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N/A | ||
e) | Date of the transaction | 2019-11-26
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f) | Place of the transaction | London Stock Exchange (XLON)
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2019 deferred bonus arrangements
A portion of the annual bonus payments due to the Executive Directors, Paul McDonald and Nick Keveth and certain PDMRs of the Company in respect of the 2019 financial year were deferred into Company shares on 27 November 2019. 25% of the annual bonus for the Executive Directors, 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 2019 deferred bonus shares held by the Executive Directors and each PDMR following this transaction.
1 | Details of person discharging managerial responsibilities/person closely associated | |||||
a) | Name | 1) Paul McDonald 2) Nicholas Keveth 3) Miles Ingrey-Counter 4) Craig Sage 5) James Wilcox 6) David Mack | ||||
2 | Reason for the notification | |||||
a) | Position / status | 1) Chief Executive Officer 2) Chief Financial Officer 3) Company Secretary 4) Managing Director, milkrite|InterPuls 5) President, Military 6) President, Law Enforcement and Fire | ||||
b) | Initial notification / amendment | Initial notification
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3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Avon Rubber p.l.c. | ||||
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 Rubber p.l.c.
GB0000667013 | ||||
b) | Nature of the transaction | Acquisition of shares. 25% 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)
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d) | - Aggregated total - Aggregated volume - Aggregated price - Aggregated total
| N/A | ||||
e) | Date of the transactions | All occurred on 2019-11-27 | ||||
f) | Place of the transaction | London Stock Exchange (XLON)
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LEI: 213800JM1AN62REBWA71Classification: Transactions by PDMRs under article 19 of the Market Abuse Regulation.