Last checked at 21 Mar 2019 16:00
NOTIFICATION DEALING WITH GRANT OF AWARDS UNDER THE PLAN
AVON RUBBER P.L.C.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.
On 20 March 2019 the following awards over ordinary shares of £1 each in Avon Rubber p.l.c. were granted under the Avon Rubber p.l.c. Long Term Incentive Plan to the following person(s) discharging managerial responsibilities:
PDMR | No. of shares under Award |
Paul McDonald | 38,599 |
Nick Keveth | 26,722 |
Miles Ingrey-Counter | 11,718 |
Craig Sage | 10,413 |
James Wilcox | 12,353 |
The awards were granted as a nil cost option for the four UK resident PDMRs and a conditional award for James Wilcox, who is resident in the US. The nil cost option awards will ordinarily become exercisable and the conditional awards will ordinarily vest on 1 December 2021, subject to the grantee's continued service and the Remuneration Committee's assessment of the extent to which the performance conditions applicable to the awards are satisfied.
Each award is subject to two performance conditions (each applicable to a distinct 50% of an award) measured over a period of three financial years, starting with the 2019 financial year. The first performance condition compares the Company's total shareholder return to the total shareholder return of a comparator group of companies consisting of the FTSE All-Share Index. The second performance condition measures compound average annual growth in the Company's earnings per share over the period of three financial years, starting with the 2019 financial year.
Fuller details of the performance condition applicable to the awards shall are set out in the Company's Directors' Remuneration Report for the year ending 30 September 2018.
The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.
Details of the full notifications received by the Company are set out below.
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Paul McDonald | ||||
2 | Reason for Notification | |||||
a) | Position/status | Chief Executive Officer | ||||
b) | Initial notification/Amendment | Initial Announcement | ||||
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, type of instrument
Identification code | Ordinary Shares of £1 each in Avon Rubber p.l.c.
GB0000667013 | ||||
b) | Nature of the transaction | Grant of a nil cost option award under the Avon Rubber p.l.c. Long Term Incentive Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 20 March 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Nick Keveth | ||||
2 | Reason for Notification | |||||
a) | Position/status | Chief Financial Officer | ||||
b) | Initial notification/Amendment | Initial Announcement | ||||
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, type of instrument
Identification code | Ordinary Shares of £1 each in Avon Rubber p.l.c.
GB0000667013 | ||||
b) | Nature of the transaction | Grant of a nil cost option award under the Avon Rubber p.l.c. Long Term Incentive Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 20 March 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Miles Ingrey-Counter | ||||
2 | Reason for Notification | |||||
a) | Position/status | Company Secretary | ||||
b) | Initial notification/Amendment | Initial Announcement | ||||
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, type of instrument
Identification code | Ordinary Shares of £1 each in Avon Rubber p.l.c.
GB0000667013 | ||||
b) | Nature of the transaction | Grant of a nil cost option award under the Avon Rubber p.l.c. Long Term Incentive Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 20 March 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Craig Sage | ||||
2 | Reason for Notification | |||||
a) | Position/status | Divisional Head - Dairy | ||||
b) | Initial notification/Amendment | Initial Announcement | ||||
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, type of instrument
Identification code | Ordinary Shares of £1 each in Avon Rubber p.l.c.
GB0000667013 | ||||
b) | Nature of the transaction | Grant of a nil cost option award under the Avon Rubber p.l.c. Long Term Incentive Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 20 March 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | James Wilcox | ||||
2 | Reason for Notification | |||||
a) | Position/status | Divisional head - Military | ||||
b) | Initial notification/Amendment | Initial Announcement | ||||
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, type of instrument
Identification code | Ordinary Shares of £1 each in Avon Rubber p.l.c.
GB0000667013 | ||||
b) | Nature of the transaction | Grant of a conditional award under the Avon Rubber p.l.c. Long Term Incentive Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Not applicable - single transaction | ||||
e) | Date of the transaction | 20 March 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Enquiries:
Avon Rubber p.l.c.
Miles Ingrey-Counter, Company Secretary 01225 896 850