Last checked at 20 Mar 2019 13:48
20 March 2019
TT Electronics plc
Long Term Incentive Plan 2014 ("LTIP")
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
On 18 March 2019, 86.5% of the LTIP share awards granted on 16 March 2016 (the "2016 Awards") to Richard Tyson, Chief Executive Officer and Mark Hoad, Chief Financial Officer, both being Persons Discharging Managerial Responsibility, vested.
The following table sets out the transactions relating to the vesting of the 2016 Awards which were notified to the Company on 19 March 2019:
Executive Director | Shares Vested | Shares retained (post tax / NI)1 | Resultant beneficial interest in the Company's shares |
Richard Tyson | 295,536 | 156,355 | 717,2512 |
Mark Hoad | 180,798 | 95,652 | 550,0903 |
1 Sufficient shares were sold in respect of tax and statutory withholdings. The shares were sold on the London Stock Exchange at a gross price of £2.28.
2 R Tyson's beneficial interest includes shares held by a PCA, Louise Tyson.
3 M Hoad's beneficial interest includes shares held by a PCA, Tracy Hoad.
The balance of the vesting of the 2016 Awards to the Executive Directors was satisfied by the transfer of ordinary shares for no consideration to the relevant individual by the trustee of the Company's Employee Benefit Trust.
The following notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further details.
1. | Details of PDMR / person closely associated with them ('PCA') | |||||
a) | Name | Richard Tyson
| ||||
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 | TT Electronics plc | ||||
b) | LEI | 213800TJGBW5VFHQEV54 | ||||
4. | Details of the transaction(s) | |||||
a) | Description of the financial instrument, type of instrument
Identification Code | Ordinary shares of 25p each
GB0008711763 | ||||
b) | Nature of the transaction | Transfer of Ordinary Shares arising from vesting of Long Term Incentive Plan award granted on 16 March 2016 | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information Aggregated volume Price |
See 4c above See 4c above
| ||||
e) | Date of the transaction | 2019-03-20 | ||||
f) | Place of the transaction | XLON | ||||
1. | Details of PDMR / person closely associated with them ('PCA') | |||||
a) | Name | Mark Hoad
| ||||
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 | TT Electronics plc | ||||
b) | LEI | 213800TJGBW5VFHQEV54 | ||||
4. | Details of the transaction(s) | |||||
a) | Description of the financial instrument, type of instrument
Identification Code | Ordinary shares of 25p each
GB0008711763 | ||||
b) | Nature of the transaction | Transfer of Ordinary Shares arising from vesting of Long Term Incentive Plan award granted on 16 March 2016 | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information Aggregated volume Price |
See 4c above See 4c above
| ||||
e) | Date of the transaction | 2019-03-20 | ||||
f) | Place of the transaction | XLON | ||||
For further information please contact:
TT Electronics plc
Richard Tyson, Chief Executive Officer: Tel: + 44 (0)1932 825300
Mark Hoad, Chief Financial Officer:
Emma Darke, Head of Investor Relations and Communications
MHP Communications
Tim Rowntree / Katie Hunt / Nessyah Hart: Tel: +44 (0)20 3128 8100