Avon Protection Regulatory News (AVON)

30 November 2015

Avon Rubber p.l.c. ("the Company")

Directors' and PDMRs' Interest in Shares

As disclosed in the 2015 annual report, awards representing 100% of the maximum possible award under the Avon Rubber p.l.c. Performance Share Plan 2010, were granted to Executive Directors, persons discharging managerial responsibilities ('PDMRs') and other employees (together 'Participants') on 1 December 2012 ('the 2012 Awards').

The Awards were made subject to performance conditions based on the Company's Total Shareholder Return ('TSR') and Earnings Per Share ('EPS'), to be measured over a 3 year performance period which commenced on 1 October 2012 and ended on 30 September 2015. The start and end point of the Company's TSR performance by reference to the comparator group was measured over the 5 days following the announcement of the Company's annual results for the year ended 30 September 2012 and the year ended 30 September 2015. The Company's EPS performance was measured by reference to the EPS in the 2012 and 2015 year end results.

The Remuneration Committee confirmed on 26 November 2015 that 100% of the Awards vested.

The Company received valid notices from the Participants in respect of the 2012 Awards. As a result, on 27 November 2015, the UK Participants, pursuant to the terms of the relevant joint ownership awards, sold their vested interests over all jointly owned shares in the market and exercised their nil cost options to acquire whole shares in the Company (all tax and National Insurance liabilities associated with the vesting of the 2012 Awards have been met out of the sale proceeds due to the UK Participants). US Participants have acquired whole shares pursuant to their 2012 Awards and sold a number of shares to meet tax and social security liabilities. A number of sales by Participants and their connected persons were also carried out for personal reasons.

Following these transactions, in accordance with the shareholding guidelines referred to in the annual report, the Executive Director, Andrew Lewis has a retained shareholding equivalent to at least two times base salary.

The table below sets out the total number of shares over which the 2012 Awards were made to the Executive Directors and PDMRs, total disposals, the net increase or decrease in the shares owned by the relevant individuals and their total shareholdings following these transactions (details in respect of connected persons are set out in the notes):

*100% of the total number of the 2012 Awards. Each executive held an interest in the number of shares shown in the above table which was sold, on 27 November 2015, following the vesting of the 2012 Awards. The proceeds due to the executives on sale of the jointly owned shares were determined by the 2012 Joint Ownership Agreements as £3.99 per share.

** Some of the whole shares disposed were sold from pre-existing holdings, including by spouses. Specifically, Karen Lewis sold 30,351 shares, Emma Ingrey-Counter sold 25,000 shares, Paul McDonald sold 21,107 shares and Deborah McDonald sold 13,437 shares.

**\* This excludes interests held under unvested joint ownership awards. The total shareholding number includes shares held by connected persons. In the case of Andrew Lewis, the total share number is constituted by 9,973 shares held by Andrew Lewis (number includes 8,951 deferred bonus shares) and 50,000 shares held by Karen Lewis. In the case of Miles Ingrey-Counter, the total share number is constituted by 3,903 shares held by Miles Ingrey-Counter (number includes 2,881 deferred bonus shares) and 14,499 shares held by Emma Ingrey-Counter. In the case of Paul McDonald, the total share number is constituted by 10,581 shares held by Paul McDonald (number includes 3,081 deferred bonus shares) and 7,000 shares held by Deborah McDonald. Both Sarah Matthews-DeMers and John Kime's shareholdings are held in their own name. John Kime's shareholding includes 3,920 deferred bonus shares

Other employees accounted for total vested awards of 102,823 shares. Other UK participants sold their jointly owned interests in 30,367 shares and acquired nil cost options over 11,291 whole shares, of which 7,836 were sold for personal reasons. Other US participants acquired 72,456 whole shares of which 57,342 were sold to pay tax and for personal reasons.

Contact Information:

Avon Rubber p.l.c.

Note to editors: The Group has transformed itself over the past five years into an innovative design and engineering group specialising in two core markets, Protection & Defence and Dairy. With a strong emphasis on research and development we design, test and manufacture specialist products from a number of sites in the US and UK, serving markets around the world. We achieve this through nurturing the talent and aspirations of our employees to realise their highest potential.

Avon Protection is the recognised global market leader in advanced Chemical, Biological, Radiological and Nuclear (CBRN) respiratory protection systems technology for the world's military, homeland security, first responder, fire and industrial markets. With an unrivalled pedigree in mask design dating back to the 1920's, Avon Protection's advanced products are the first choice for Personal Protective Equipment (PPE) users worldwide and are placed at the heart of many international defence and tactical PPE deployment strategies. Our expanding global customer base now includes military forces, civil and first line defence troops, emergency service teams and industrial, marine, mineral and oil extraction site personnel. All put their trust in Avon's advanced respiratory solutions to shield them from every possible threat.

Our world-leading Dairy business and its Milkrite brand have a global market presence. With a long history of manufacturing liners and tubing for the dairy industry, Milkrite has become the leading innovator and designer for products and services right at the heart of milking. Our goal is always to improve and maintain animal health. Working with the leading scientists and health specialists in the global dairy industry we continue to invest in technology to further improve the milking process and animal welfare. Our products provide exceptional results for both the animal and the milker, making the milk extraction process run smoothly. As our market share and milking experience continue to grow, so does our global presence.

For further information please visit the Group's website www.avon-rubber.com