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Last checked at 
4 Dec 2018 15:00
4 December 2018
Avon Rubber p.l.c. ('the Company')
Directors' and PDMRs' Interest in Shares
Release of 2016 deferred bonus shares
As previously announced to shareholders on 17 November 2016, a portion of the annual bonus payments due to PDMR and now Chief Executive Officer, Paul McDonald and PDMR, Miles Ingrey-Counter, in respect of the 2016 financial year were deferred into Company shares, to be held for two years.
On 29 November 2018, following expiry of the deferral period, 392 deferred bonus shares were released to Paul McDonald and 365 to Miles Ingrey-Counter. Both sold these shares at a price of 1292.5 pence per share on 29 November 2018. 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 2016 deferred bonus shares purchased on 16 November 2016 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 | 2018-11-29
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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
| ||
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 2016 deferred bonus shares purchased on 16 November 2016 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 | 2018-11-29
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f) | Place of the transaction | London Stock Exchange (XLON)
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2018 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 2018 financial year were deferred into Company shares on 29 November 2018. 25% of the annual bonus linked to financial targets, as distinct from personal performance targets, 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.
The table below sets out the number of 2018 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) Leon Klapwijk 5) Craig Sage 6) James Wilcox | ||||
2 | Reason for the notification | |||||
a) | Position / status | 1) Chief Executive Officer 2) Chief Financial Officer 3) Company Secretary 4) Divisional Head - Protection 5) Divisional Head - Dairy 6) Divisional Head- Military | ||||
b) | Initial notification / amendment | Initial notification
| ||||
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. A portion of the annual bonus payments in respect of the 2017/18 financial year were deferred into Company shares on 29 November 2018. 25% of the annual bonus linked to financial targets, as distinct from personal performance targets, 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 2018-11-29
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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.
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