Last checked at 11 Apr 2023 09:30
Vesuvius plc
11 April 2023
Notification of Transactions of Persons Discharging Managerial Responsibilities
This notification is made in accordance with Article 19(3) of the Market Abuse Regulation.
Grant of 2023 Long Term Incentive Share Awards
Vesuvius plc (the "Company") announces that on 6 April 2023, performance share awards (the "Awards") were granted over the Company's ordinary shares ("Shares") to the following persons discharging managerial responsibilities in the Company under the Vesuvius Share Plan in the form indicated in the table below:
Name | Maximum number of Shares under Award ("Award Shares") | Form of Award |
Patrick André | 355,599 | Nil-cost Option |
Mark Collis | 142,7991 | Nil-cost Option |
1. Pro-rated award based on date of joining 1 April 2023.
The number of Award Shares set out above is the maximum number which may vest under the Awards, normally following the third anniversary of the award date. The actual number of Award Shares which vest will depend upon the extent to which performance conditions have been satisfied.
The performance conditions applicable to the 2023 Awards will be based 40% on total shareholder return (TSR) performance, 40% on post-tax ROIC (ROIC) achievement and 20% on Environmental, Social and Governance (ESG) targets, as described in the Company's 2022 Annual Report.
The 2023 Awards are subject to a holding period which will run until the fifth anniversary of the grant date.
The Share price used to determine the number of Shares under awards was 404.95 pence being the average of the middle market quotation at close of business over the 30 days ending on Wednesday 5 April 2023.
The Vesuvius Share Plan was approved by shareholders at the General Meeting on 18 May 2022.
Name of contact and telephone number for queries:
Henry Knowles, General Counsel and Company Secretary | +44 (0) 20 7822 0000 |
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Patrick André
| |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Executive | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Vesuvius plc | |||
b)
| LEI
| 213800ORZ521W585SY02 | |||
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 | Performance share award in the form of nil-cost options over Vesuvius plc 10 pence ordinary shares | |||
Identification code | ISIN: GB00B82YXW83 | ||||
b)
| Nature of the transaction
| Grant of performance share awards under the Vesuvius Share Plan | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
404.95 pence | 355,599 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 355,599 | ||||
- Aggregated Price
- Aggregated Total
| 404.95 pence
£1,439,998 | ||||
e)
| Date of the transaction
| 6 April 2023 | |||
f)
| Place of the transaction
| London - outside a trading venue | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Mark Collis | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| 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
| Vesuvius plc | |||
b)
| LEI
| 213800ORZ521W585SY02 | |||
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 | Performance share award in the form of nil-cost options over Vesuvius plc 10 pence ordinary shares | |||
Identification code | ISIN: GB00B82YXW83 | ||||
b)
| Nature of the transaction
| Grant of performance share awards under the Vesuvius Share Plan | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
404.95 pence | 142,799 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 142,799 | ||||
- Aggregated Price
- Aggregated Total | 404.95 pence
£578,265 | ||||
e)
| Date of the transaction
| 6 April 2023 | |||
f)
| Place of the transaction
| London - outside a trading venue | |||
Vesuvius plc, 165 Fleet Street, London EC4A 2AE
Registered in England and Wales No. 8217766
LEI: 213800ORZ521W585SY02
www.vesuvius.com