Last checked at 15 Jun 2023 09:51
15 June 2023
discoverIE Group plc
Director LTIP Award
discoverIE Group plc (LSE: DSCV, "discoverIE" or "the Company"), a leading international designer and manufacturer of customised electronics for industrial applications, announces that, on 14 June 2023, options were granted for nil consideration over the following numbers of ordinary shares in the Company ("Ordinary Shares"), under the 2021 discoverIE Group plc Long Term Incentive Plan ("LTIP") (the "Awards"):
Director/PDMR | Number of Awards granted |
Nick Jefferies | 100,794 |
Simon Gibbins | 60,323 |
The Awards will vest on 16 June 2026, subject to the achievement of performance targets measured over a three-year period. Vested options will be subject to an additional two-year holding period.
In addition to the Awards, a further 5,655 options over Ordinary Shares were granted to Simon Gibbins in return for him bearing a proportion of the Company's liability for the employers' National Insurance Contributions arising on exercise. The additional award ensures he is in a neutral position on an after-tax basis.
For further information, please contact:
discoverIE Group plc
Greg Davidson - Company Secretary 01483 544 500
Buchanan
Chris Lane, Toto Berger, Jack Devoy 020 7466 5000
discoverIE@buchanan.uk.com
Notes to Editors:
About discoverIE Group plc
discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial applications.
The Group provides application-specific components to original equipment manufacturers ("OEMs") internationally through its two divisions, Magnetics & Controls, and Sensing & Connectivity. By designing components that meet customers' unique requirements, which are then manufactured and supplied throughout the life of their production, a high level of repeating revenue is generated with long-term customer relationships.
With a focus on sustainable key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, electrification of transportation, and industrial automation & connectivity, the Group aims to achieve organic growth that is well ahead of GDP and to supplement that with complementary acquisitions. The Group is committed to reducing the impact of its operations on the environment with an SBTi aligned plan to reach net zero. With its key markets aligned with a sustainable future, the Group has been awarded an ESG "A" rating by MSCI and is Regional (Europe) Top Rated by Sustainalytics.
The Group employs c.4,700 people across 20 countries with its principal operating units located in Continental Europe, the UK, China, Sri Lanka, India and North America.
discoverIE is listed on the Main Market of the London Stock Exchange and is a member of the FTSE250, classified within the Electrical Components and Equipment subsector.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Nick Jefferies | ||||
2 | Reason for the notification | |||||
a) | Position / status | Group Chief Executive | ||||
b) | Initial notification / amendment | Initial notification | ||||
3 | Details of issuer | |||||
a) | Name | discoverIE Group plc | ||||
b) | LEI | 213800BMDLQU1VEEAN68 | ||||
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 | Options over Ordinary Shares
GB0000055888 | ||||
b) | Nature of the transaction | Award made pursuant to the Company's Long‐Term Incentive Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information | N/A | ||||
e) | Date of the transaction | 14 June 2023 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Simon Gibbins | ||||
2 | Reason for the notification | |||||
a) | Position / status | Group Finance Director | ||||
b) | Initial notification / amendment | Initial notification | ||||
3 | Details of issuer | |||||
a) | Name | discoverIE Group plc | ||||
b) | LEI | 213800BMDLQU1VEEAN68 | ||||
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 | Options over Ordinary Shares
GB0000055888 | ||||
b) | Nature of the transaction | Award made pursuant to the Company's Long‐Term Incentive Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information | N/A | ||||
e) | Date of the transaction | 14 June 2023 | ||||
f) | Place of the transaction | Outside a trading venue | ||||