Last checked at 7 Jan 2019 14:45
7 January 2019
TREATT PLC
("Treatt" or "the Company")
Notification and Public Disclosure of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them
In accordance with the requirements of the EU Market Abuse Regulation, the Company received notification from Daemmon Reeve, Chief Executive Officer, on 4 January 2019 of the following transactions.
An award granted pursuant to the Long Term Incentive Plan, which was granted to Daemmon Reeve in 2015 ("2015 LTIP) and vested in full on 14 December 2018, was subject to performance criteria based upon the average annual growth in pre-exceptional basic earnings per share over a three-year period.
An award granted pursuant to an Unapproved Share Option, which was granted to Daemmon Reeve in 2013 and vested in full on 20 December 2018, was subject to performance criteria based upon the average annual growth in pre-exceptional basic earnings per share over a five-year period.
Restricted Stock Units (RSUs), which were granted to Daemmon Reeve in 2015 pursuant to an all staff award for eligible US employees, were granted on terms consistent with awards made to UK employees under the Treatt Plc Share Incentive Plan.
These vestings and exercises are detailed below, including the number of Ordinary Shares each sold at a price of £4.418 per share to satisfy the tax and national insurance liabilities and administrative fees arising on exercise:
Ordinary Shares received pursuant to 2015 LTIP | Ordinary Shares received pursuant to Unapproved Share Option Scheme | Ordinary Shares received pursuant to Restricted Stock Units | Ordinary Shares sold | Resultant interest in Ordinary Shares | Resultant % interest in total issued share capital | ||
Daemmon Reeve | CEO | 175,708 | 41,575 | 332 | 105,780 | 416,003 | 0.70% |
In addition, Daemmon Reeve transferred 20,000 Ordinary Shares to his wife for nil monetary consideration.
Further details regarding the 2015 LTIP, the Unapproved Share Option and the Restricted Stock Units are set out in the Company's 2018 Annual Report.
Contact details
Anita Steer
Company Secretary
++ 44 1284 770028
| Details of the Director | ||
a)
| Name | Daemmon Reeve | |
2 | Reason for the notification | ||
a)
| Position/status | CEO | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Treatt Plc | |
b) | LEI | 213800G40JM9F7G9LG39 | |
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 2 pence each
GB00BKS7YK08 | |
b) | Nature of transaction | a) Exercise of 2015 LTIP b) Exercise of 2013 Unapproved Share Option c) Exercise of All Staff RSUs d) Sale of shares to satisfy UK & US tax liabilities and subscription for 2013 Unapproved Share Option e) Transfer of shares to wife, Gemma Reeve | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
a) Nil cost b) £1.472 c) Nil cost d) £4.418 e) Nil cost | 175,708 41,575 332 105,780 20,000 | ||
Aggregated information - Aggregated volume - Price | N/A (Single transaction) | ||
e) | Date of the transaction | 4 January 2019 | |
f) | Place of the transaction | a), b), c) and e) Outside a trading venue d) London Stock Exchange, XLON | |
| Details of a Person Closely Associated | ||
a)
| Name | Gemma Reeve | |
2 | Reason for the notification | ||
a)
| Position/status | PCA of Daemmon Reeve, CEO | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Treatt Plc | |
b) | LEI | 213800G40JM9F7G9LG39 | |
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 2 pence each GB00BKS7YK08 | |
b) | Nature of transaction | Transfer of shares for nil monetary consideration from Daemmon Reeve (husband) | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil cost
| 20,000
| ||
Aggregated information - Aggregated volume - Price | N/A (Single transaction) | ||
e) | Date of the transaction | 4 January 2019 | |
f) | Place of the transaction | Outside a trading venue | |