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Last checked at 
4 Aug 2022 07:00
Carclo plc
DIRECTOR/PDMR Shareholding
Notification and public disclosure of LTIP Awards to Directors/Persons Discharging Managerial Responsibilities and their Closely Associated Persons
Carclo plc confirms that an allocation was granted under the terms of the Carclo plc 2017 Performance Share Plan to Persons Discharging Managerial Responsibilities as set out below. The awards were granted on 3 August 2022 and the ordinary shares will vest at the end of a three-year period depending on the achievement of performance targets set out in the LTIP, and for Phil White only, as an executive director, are then subject to a further two-year holding period. The awards take the form of nil cost options, being an option under the LTIP, with a nil exercise price.
Name | Status | No. of shares subject to allocation |
Phil White | Director | 386,778 |
Chief Financial Officer | ||
Rob Stutzman | PDMR | 175,492 |
Divisional CEO (CTP) | ||
Alan Hook | PDMR | 88,154 |
Divisional CEO (Aerospace) |
Following this award, total holding and interests in ordinary share in Carclo plc are:
Name | Total holdings of ordinary shares | Percentage of current issued share capital | Total interest in ordinary shares |
Phil White | 74,278 | 0.10% | 773,556 |
Rob Stutzman | Nil | Nil | 526,474 |
Alan Hook | 82,170 | 0.11% | 176,308 |
This announcement and the following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation.
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) | Name | Phil White | |
2 | Reason for the notification | ||
a) | Position/status | PDMR (Chief Financial Officer) | |
b) | Initial notification/Amendment | This is an initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Carclo plc | |
b) | LEI | 21380078MEM399JPI956 | |
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 5p
ISIN: GB0001751915 | |
b) | Nature of the transaction | Grant of an award under the Carclo plc 2017 Performance Share Plan as a conditional award of shares. Subject to continued service, normally vests after 3 years and subject to a further 2 year holding period. | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| GBP Nil | 386,778 | |
d) | Aggregated information - Aggregated volume - Price |
Aggregated volume: 386,778
GBP Nil | |
e) | Date of the transaction | 2022-08-03 | |
f) | Place of the transaction | XLON | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) | Name | Rob Stutzman | |
2 | Reason for the notification | ||
c) | Position/status | PDMR (Divisional CEO - CTP) | |
d) | Initial notification/Amendment | This is an initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Carclo plc | |
b) | LEI | 21380078MEM399JPI956 | |
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. | ||
g) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 5p
ISIN: GB0001751915 | |
h) | Nature of the transaction | Grant of an award under the Carclo plc 2017 Performance Share Plan as a conditional award of shares. Subject to continued service, normally vests after 3 years. | |
i) | Price(s) and volume(s) | Price(s) | Volume(s) |
| GBP Nil | 175,492 | |
j) | Aggregated information - Aggregated volume - Price |
Aggregated volume: 175,492
GBP Nil | |
k) | Date of the transaction | 2022-08-03 | |
l) | Place of the transaction | XLON | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
(a) | Name | Alan Hook | |
2 | Reason for the notification | ||
e) | Position/status | PDMR (Divisional CEO - Aerospace) | |
f) | Initial notification/Amendment | This is an initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Carclo plc | |
b) | LEI | 21380078MEM399JPI956 | |
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. | ||
m) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 5p
ISIN: GB0001751915 | |
n) | Nature of the transaction | Grant of an award under the Carclo plc 2017 Performance Share Plan as a conditional award of shares. Subject to continued service, normally vests after 3 years. | |
o) | Price(s) and volume(s) | Price(s) | Volume(s) |
| GBP Nil | 88,154 | |
p) | Aggregated information - Aggregated volume - Price |
Aggregated volume: 88,154
GBP Nil | |
q) | Date of the transaction | 2022-08-03 | |
r) | Place of the transaction | XLON | |
Subject to the rules of the LTIP and the satisfaction of the performance conditions detailed below and continued employment, the earliest vesting date of the award is normally 3 August 2025.
The performance measures for these awards are equally weighted between Earnings per Share ("EPS") and Absolute Total Shareholder Return ("TSR") targets, whereby 50% will vest after three years based on TSR performance (share price performance between date of grant (3 August 2022) and vesting date (3 August 2025)) and 50% will vest after three years based on EPS performance (growth in underlying earnings excluding IAS19 pension accounting, exceptional items and discontinued business) over the three year period.
A Wakes
Company Secretary
01924 268040
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