Tyman Regulatory News (TYMN)

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 ("Shares") undertaken by an Executive Director and PDMR, Jason Ashton, CFO.

DEFERRED SHARE BONUS PLAN (THE "DSBP")

On 23 April 2024, following the end of a closed period, the Company's Remuneration Committee granted the following nil-cost option over Shares (the "2023 Award") to Jason Ashton, an Executive Director of the Company, under the terms of the Company's DSBP 2023 (as part of the annual bonuses for the year ended 31 December 2023). Under the terms of the DSBP, 50% of the bonuses of Executive Directors, which would otherwise have been payable in cash, are delivered in the form of nil-cost option.

1As customary for Tyman, the number of Shares were calculated by reference to the 5-day average closing price prior to the date that shares were awarded (5 trading days ended 13th March 2024) of £2.861.

This 2023 Award would normally vest (together with dividend equivalents in cash or Shares) following the publication of the Group's audited results for the year ending 31 December 2026, expected to be in March 2027. No consideration was paid for the 2023 Awards and no consideration is due to be payable on vesting.

Impact of the recommended offer for the Company

On 22 April 2024, the boards of Quanex Building Products Corporation ("Quanex") and Tyman announced (the "2.7 Announcement") that they reached agreement on the terms of a recommended cash and share offer, pursuant to which Quanex will acquire the entire issued and to be issued ordinary share capital of Tyman (the "Transaction"). In this section, all capitalised terms used shall have the same meaning as in the 2.7 Announcement, unless expressly defined otherwise.

Pursuant to the terms agreed by Quanex and Tyman, awards under the DSBP shall vest or become exercisable in full on the Effective Date. Awards under the DSBP will accrue, in the ordinary course, dividend equivalents that will be settled by Tyman in cash if they have not already been credited in Shares.

The following 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.