Last checked at 8 Apr 2014 09:58
RNS Number:Avon Rubber p.l.c.8 April 2014
Avon Rubber p.l.c.
Directors'/PDMR Shareholdings - SIP
Avon Rubber p.l.c. was notified on 8 April 2014 that the following purchases of Avon Rubber p.l.c. ordinary shares were made by Killik & Co Trustees Limited on 7 April 2014 on behalf of the Company's executive directors and persons discharging managerial responsibilities pursuant to the Company's Share Incentive Plan (SIP).
The SIP is an all-employee share plan arrangement approved by HM Revenue and Customs, under which employees are able to buy ordinary shares in the Company using deductions from salary in each monthly pay period.
| Number of Partnership Shares acquired under the SIP | Percentage of issued share capital acquired | Price Per Share | Beneficial Interest in shares following this notification | Percentage of issued share capital |
Executive Directors | |||||
Peter Slabbert | 20 | 0.0001 | £6.11 | 202,529 | 0.653 |
Andrew Lewis | 20 | 0.0001 | £6.11 | 120,994 | 0.390 |
PDMRs | |||||
Miles Ingrey-Counter | 20 | 0.0001 | £6.11 | 40,142 | 0.129 |
Section 85(1) of the Financial Services and Markets Act 2000 (FSMA 2000) provides that it is unlawful to offer transferable securities to the public unless an approved prospectus has been made available. The total consideration for the securities being offered is less than €5,000,000 therefore the Company will fall within the exemption at paragraph 9(1) of Schedule 11A of FSMA 2000.
This notification is made in order to satisfy both section 793 of the Companies Act 2006 and Disclosure and Transparency Rule 3.1.2.