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14 Mar 2023 16:16
TYMAN PLC
("Tyman" or the "Company" or the "Group")
DIRECTOR/PDMR SHAREHOLDINGS
Tyman plc announces that it has been notified of the following transactions in the Company's ordinary 5p shares ("Ordinary Shares") undertaken by the Executive Directors and PDMRs, Jo Hallas, CEO and Jason Ashton, CFO.
DEFERRED SHARE BONUS PLAN (THE "DSBP")
On 10 March 2023 the following shares were awarded in respect of the year ended31 December 2022 (the "2022 Awards") under the Company's DSBP, in the form of nil cost options.
Name | Shares awarded1 |
Jo Hallas | 36,875 |
Jason Ashton | 19,245 |
1 Number of shares calculated by reference to the 5-day average closing price prior to the date that shares were awarded (5 trading days ended 9th March 2023) of £2.461.
Under the Company's annual bonus scheme, 50% of Executive Director bonuses that would otherwise have been payable in cash are instead delivered as deferred shares under the DSBP.
These awards will normally vest (together with dividend equivalents in cash or Ordinary Shares) following the publication of the Group's audited results for the year ending31 December 2025, expected to be in March 2026. No consideration was paid for the 2022 Awards and no consideration is due to be payable on vesting.
LONG TERM INCENTIVE PLAN (THE "LTIP")
On 10 March 2023 ("Award Date"), the following shares were awarded under the Company's LTIP, in the form of nil cost options (the "2023 Awards"):
Name | Shares awarded1 |
Jo Hallas | 351,991 |
Jason Ashton | 183,705 |
1 Number of shares calculated by reference to the 5-day average closing price prior to the date that shares were awarded (5 trading days ended 9th March 2023) of £2.461.
Performance conditions
The vesting of the 2023 Awards is subject to the satisfaction of performance conditions set by the Remuneration Committee of the Company, as disclosed in the 2022 Annual Report and Accounts, to be published on 3 April 2023. Awards granted to the Executive Directors that vest shall be subject to a compulsory holding period of five years from the Award Date.
2023 Awards are expected to vest in March 2026, following the announcement of the Company's results for the year ended 31 December 2025, subject to fulfilment of the performance conditions and continued employment in the Group, and the holding requirement is expected to expire in March 2028.
Timetable and Awards Outstanding
The details of the Awards are set out below:
1
| Details of the persons discharging managerial responsibilities / person closely associated
| |||
a)
| Names
| i. JO HALLAS ii. JASON ASHTON
| ||
2
| Reason for the notification: AWARD OF OPTIONS
| |||
a)
| Position/status
| i. CHIEF EXECUTIVE OFFICER ii. CHIEF FINANCIAL OFFICER
| ||
b)
| Initial notification /Amendment
| INITIAL NOTIFICATION | ||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||
a)
| Name
| TYMAN PLC | ||
b)
| LEI
| 213800AAFUV5PKGQU848 | ||
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 | ORDINARY SHARES OF 5P EACH
| ||
Identification code | ISIN NUMBER:GB00B29H4253 | |||
b)
| Nature of the transaction | NIL COST OPTIONS GRANTED UNDER TYMAN PLC DEFERRED SHARE BONUS PLAN | ||
c) | Prices (s) and volume(s) | Price | Volume | |
i. | Nil | 36,875 | ||
ii. | Nil | 19,245 | ||
d)
| Aggregated information | |||
- Aggregated volume | - 56,120
| |||
- Price | - Nil | |||
e)
| Date of the transaction
| 10 March 2023 | ||
f)
| Place of the transaction | OUTSIDE OF TRADING VENUE | ||
1
| Details of the persons discharging managerial responsibilities / person closely associated
| |||
a)
| Names
| i. JO HALLAS ii. JASON ASHTON
| ||
2
| Reason for the notification: AWARD OF OPTIONS
| |||
a)
| Position/status
| i. CHIEF EXECUTIVE OFFICER ii. CHIEF FINANCIAL OFFICER
| ||
b)
| Initial notification /Amendment
| INITIAL NOTIFICATION | ||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||
a)
| Name
| TYMAN PLC | ||
b)
| LEI
| 213800AAFUV5PKGQU848 | ||
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 | ORDINARY SHARES OF 5P EACH
| ||
Identification code | ISIN NUMBER:GB00B29H4253 | |||
b)
| Nature of the transaction | NIL COST OPTIONS GRANTED SUBJECT TO PERFORMANCE CONDITIONS UNDER TYMAN PLC LONG TERM INCENTIVE PLAN | ||
c) | Prices (s) and volume(s) | Price | Volume | |
i. | Nil | 351,991 | ||
ii. | Nil | 183,705 | ||
d)
| Aggregated information | |||
- Aggregated volume | - 535,696
| |||
- Price | - Nil | |||
e)
| Date of the transaction
| 10 March 2023 | ||
f)
| Place of the transaction | OUTSIDE OF TRADING VENUE | ||
This disclosure is made in accordance with Article 19 of EU Market Abuse Regulation No. 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.
14 March 2023
Enquiries: | |
Tyman plc | 020 7976 8000 |
Peter Ho - General Counsel & Company Secretary | www.tymanplc.com |
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