Last checked at 21 Jun 2023 09:46
Vesuvius Plc - Director/PDMR ShareholdingVesuvius Plc - Director/PDMR Shareholding
PR Newswire
LONDON, United Kingdom, June 21
Vesuvius plc
21 June 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 Buy-out Awards for Mark Collis under the Vesuvius Share Plan
Vesuvius plc (the "Company") announces that on 20 June 2023, restricted share awards (the "Awards") were granted over the Company's ordinary shares ("Shares") to the Mark Collis, a person discharging managerial responsibilities in the Company under the Vesuvius Share Plan in the form indicated in the table below:
| Maximum Number of Shares under Award ("Award Shares") | Earliest Vesting date | Vesting Conditions |
| 1,349 | 20 June 2023 | None |
| 835 | 11th March 2024 | None |
| 23,820* | 8th April 2024 | Subject to John Wood Group plc vesting performance as determined by the Vesuvius plc Remuneration Committee |
| 1,662 | 8th April 2024 | None |
| 23,129 | 10th March 2025 | None |
| 145 | 27th April 2025 | None |
| 5,955* | 9th March 2026 | Subject to John Wood Group plc vesting performance as determined by the Vesuvius plc Remuneration Committee |
Total | 56,895 |
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\* The number of Award Shares set out above which reflect the value of awards being bought out under the John Wood Group LTIP Plan, is the maximum number which may vest under the Awards. The actual number of Award Shares which vest will depend upon the extent to which the Remuneration Committee determines that the performance conditions have been satisfied by John Wood Group plc. The performance conditions applicable to these awards are based 50% on John Wood Group's Relative TSR, 20% on EBITDA margin percentage improvement, 20% on Revenue growth and 10% on ESG framework.
The Share price used to determine the number of Shares under awards was 387.29 pence being the mid-market closing price average for the 30 day period from 5 December 2022 to 3 January 2023, the day prior to the date the offer of employment was made to Mark Collis, (excluding the non-trading days) and Vesuvius close period days (2/3 January).
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 |
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1
| Details of the person discharging managerial responsibilities / person closely associated
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a)
| Name
| Mark Collis
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2
| Reason for the notification
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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
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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
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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 | |||
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Identification code | ISIN: GB00B82YXW83 | ||||
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b)
| Nature of the transaction
| Grant of recruitment buy-out share awards under the Vesuvius Share Plan | |||
c)
| Price(s) and volume(s) |
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| Price(s) | Volume(s) |
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| 387.29 pence | 1,349 |
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| 387.29 pence | 835 |
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| 387.29 pence | 23,820 |
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| 387.29 pence | 1,662 |
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| 387.29 pence | 23,129 |
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| 387.29 pence | 145 |
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| 387.29 pence | 5,955 |
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d)
| Aggregated information |
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- Aggregated volume | 56,895 | ||||
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- Aggregated Price
- Aggregated Total
| 387.29 pence
£220,349 | ||||
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e)
| Date of the transaction
| 20 June 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