Last checked at 22 May 2024 07:10
22 May 2024
TI Fluid Systems plc
(the "Company")
Notification of transactions of Directors/
Persons Discharging Managerial Responsibilities ("PDMRs")
Grant of Awards under the Company's Long Term Incentive Plan (the "Plan")
The Company announces that, effective 3 May 2024, awards of contingent rights to receive shares of the Company have been made to Executive Directors and PDMRs under the Plan.
The awards were made at no cost to the individual and will vest, subject to the rules of the Plan, based on the Company's performance during the three-year period of FY2024-2026 against three measures relating to (i) Adjusted Return on Capital Employed, (ii) Cumulative Adjusted Earnings per Share, and (iii) Total CO2(e) Emissions during performance period (metric tonnes). The amount of the awards governed by each performance measure (weighting) is shown in the table below.
Performance Measure | Percentage of Award for Executive Directors and PDMRs |
Adjusted Return on Capital Employed (ROCE) | 50% |
Cumulative Adjusted Earnings per Share | 25% |
Total CO2(e) Emissions during performance period (metric tonnes) | 25% |
The following notifications are made in accordance with the requirements of Article 19(3) of the Market Abuse Regulation.
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Hans Dieltjens | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Executive Officer and President and Executive Director | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | TI Fluid Systems plc | ||||
b) | LEI | 5493001T9RXVD6OAWY46 | ||||
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 TI Fluid Systems plc of £0.01 each
GB00BYQB9V88 | ||||
b) | Nature of the transaction | Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A
| ||||
e) | Date of the transaction
| 3 May 2024 | ||||
f)
| Place of the transaction | XLON | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Alexander De Bock | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Financial Officer and Executive Director | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | TI Fluid Systems plc | ||||
b) | LEI | 5493001T9RXVD6OAWY46 | ||||
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 TI Fluid Systems plc of £0.01 each
GB00BYQB9V88 | ||||
b) | Nature of the transaction | Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A
| ||||
e) | Date of the transaction
| 3 May 2024 | ||||
f)
| Place of the transaction | XLON | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Steve Vercauteren | ||||
2 | Reason for the notification | |||||
a) | Position/status | President, EMEA | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | TI Fluid Systems plc | ||||
b) | LEI | 5493001T9RXVD6OAWY46 | ||||
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 TI Fluid Systems plc of £0.01 each
GB00BYQB9V88 | ||||
b) | Nature of the transaction | Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A
| ||||
e) | Date of the transaction
| 3 May 2024 | ||||
f)
| Place of the transaction | XLON | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Julien Plenchette
| ||||
2 | Reason for the notification | |||||
a) | Position/status | President, Americas | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | TI Fluid Systems plc | ||||
b) | LEI | 5493001T9RXVD6OAWY46 | ||||
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 TI Fluid Systems plc of £0.01 each
GB00BYQB9V88 | ||||
b) | Nature of the transaction | Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A
| ||||
e) | Date of the transaction
| 3 May 2024 | ||||
f)
| Place of the transaction | XLON | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Henri Tsang | ||||
2 | Reason for the notification | |||||
a) | Position/status | President, Asia Pacific | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | TI Fluid Systems plc | ||||
b) | LEI | 5493001T9RXVD6OAWY46 | ||||
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 TI Fluid Systems plc of £0.01 each
GB00BYQB9V88 | ||||
b) | Nature of the transaction | Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration.
| ||||
c)
| Price(s) and volume(s)
|
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A
| ||||
e) | Date of the transaction
| 3 May 2024 | ||||
f)
| Place of the transaction | XLON | ||||
Enquiries:
TI Fluid Systems plc
Kellie McAvoy
Investor Relations
Tel: +44 7354 846374
Headland Consultancy
Matt Denham/Chloe Francklin
Tel: +44 (0)20 3805 4822
About TI Fluid Systems plc
TI Fluid Systems is a global innovator of thermal and fluid system solutions for the full range of current and developing vehicle architectures. Serving all major automotive manufacturers, with more than 100 years of automotive supply experience; TI Fluid Systems operates across 27 countries with a commitment to improving efficiency, performance and sustainability worldwide. To find out more about TI Fluid Systems, visit www.tifluidsystems.com.