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8 Aug 2019 16:30
8 August 2019
ConvaTec Group Plc("ConvaTec" or "the Company")Director/PDMR Shareholding
The Company announces the following change in the interests of a Director in ordinary shares of 10 pence each in the share capital of the Company ("Shares").
On 8 August 2019, Frank Schulkes, the Company's Chief Financial Officer and Executive Director, was granted a conditional share award of 606,274 Shares under the Company's Long Term Incentive Plan (LTIP). The award is subject to a time vesting period of three years, performance conditions based on a combination of: relative total shareholder return; earnings per share; and return on invested capital, all over the three-year period and equally weighted, along with continued employment.
The number of Shares are the maximum available if the performance conditions for the three-year performance period are fully satisfied. Details of the 2019 LTIP targets were disclosed in the Company's half year results published on 1 August 2019.
The share price of £1.821 was used to determine the number of shares subject to grant, determined by the average closing price of the Company's Shares for the three consecutive business days, up to and including 7 August 2019.
No consideration was paid for the grant of this award.
The attached notification, made in accordance with the requirements of the EU Market Abuse Regulation, gives further detail.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Frank Schulkes | |
2 | Reason for the notification | ||
a) | Position/Status | CFO | |
b) | Initial notification/Amendment | Initial notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | ConvaTec Group Plc | |
b) | LEI | 213800LS272L4FIDOH92 | |
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 10p each in ConvaTec Group Plc GB00BD3VFW73 | |
b) | Nature of the transaction | Grant of conditional share award under the ConvaTec Group Plc Long Term Incentive Plan, subject to (i) time vesting period of three years (ii) performance conditions based on a combination of: relative total shareholder return; earnings per share; and return on invested capital, all over the three-year period and equally weighted, along with continued employment.
| |
c) | Price(s) and volume(s) | Price(s) N/A
| Volume(s) 606,274 |
d) | Aggregated information - Aggregated volume - Price |
N/A | |
e) | Date of the transaction | 2019-08-08 | |
f) | Place of the transaction | Outside a trading venue | |
Enquiries
Media
Bobby Leach, VP Group Corporate Affairs, ConvaTec +44 (0)7770 842 226
Finsbury +44 (0)207 251 3801
Analysts and Investors
John Crosse, VP Investor Relations, ConvaTec +44 (0)7500 141 435
Mark Reynolds, Director Investor Relations, ConvaTec +44 (0)7551 036 625
investorrelations@convatec.com
ConvaTec Group Plc's LEI code is 213800LS272L4FIDOH92
About ConvaTec
ConvaTec is a global medical products and technologies company focused on therapies for the management of chronic conditions, with leading market positions in advanced wound care, ostomy care, continence and critical care, and infusion devices. ConvaTec's products provide a range of clinical and economic benefits including infection prevention, protection of at-risk skin, improved patient outcomes and reduced total cost of care. To learn more about ConvaTec, please visit www.convatecgroup.com where a copy of this announcement can also be found.
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