Last checked at 10 Jun 2021 16:41
Zotefoams plc
(the 'Company')
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PDMRs
10 June 2021 - On 8 June 2021, the Company received notice from its Employee Benefit Trust of the exercise of nil cost options granted over ordinary shares of 5 pence each ('Shares') under the Company's Long-Term Incentive Plan ('LTIP') and Deferred Bonus Share Plan ('DBSP') at a sale price of £4.77 as follows:
DIRECTORS | |||||
| Award | Number of shares exercised | Number of shares retained | Number of shares sold for tax | Aggregate number of shares held |
D B Stirling
| DBSP 2020 | 36,018 | Nil | Nil | 449,162 |
DBSP 2017 | 6,893 | Nil | Nil | ||
LTIP 2017 | 37,978 | Nil | Nil | ||
LTIP 2018 | 5,425 | Nil | Nil | ||
G C McGrath | DBSP 2017 | 4,576 | 2,420 | 2,156 | 60,644 |
LTIP 2017 | 24,921 | 13,183 | 11,738 | ||
LTIP 2018 | 3,656 | 1,934 | 1,722 | ||
PDMRs | ||||
| Award | Number of shares exercised | Number of shares retained | Number of shares sold for tax |
K D Hewson | DBSP 2017 | 3,598 | 1,903 | 1,695 |
LTIP 2017 | 27,788 | 14,701 | 13,087 | |
LTIP 2018 | 5,361 | 2,835 | 2,526 | |
H D Morgan | DBSP 2017 | 1,975 | 1,044 | 931 |
LTIP 2017 | 16,321 | 8,634 | 7,687 | |
LTIP 2018 | 4,932 | 2,609 | 2,323 | |
D B Catalano | LTIP 2017 | 27,335 | Nil | Nil |
LTIP 2018 | 8,287 | Nil | Nil | |
Awards granted under the LTIP vest subject to the satisfaction of performance targets over the three-year performance period. The final decision on the timing of vesting of the LTIP 2017 award was deferred for a period of up to one year. Following due consideration by the Committee, including taking into account the stability of the Group following the impact of COVID-19, the Remuneration Committee agreed that it would be appropriate to release the award in line with the formulaic outcome on 1 June 2021.
Awards granted under the DBSP usually vest three years from grant, subject to satisfaction of service conditions. However, given the unprecedented circumstances brought about by COVID-19, and the decision of the Board not to recommend a final dividend for the year ended 31 December 2019, the proportion of the bonus that would normally have been paid in cash under the DBSP 2020 Award was deferred into shares (the 'Deferred Bonus proportion'). The Remuneration Committee has now approved the exercise of the Deferred Bonus proportion taking place prior to 20 April 2023. The proportion of the bonus that would normally be deferred into shares (25%) will continue as normal and will be released after three years.
All awards were increased to reflect the dividends paid during the restricted period.
The Notification of Dealing Form can be found below.
This announcement is made in accordance with the requirements of Article 19 of the UK Market Abuse Regulation 596/2014.
Lydia Harratt
Group Company Secretary
Zotefoams plc
020 8664 1600
About Zotefoams plc
Zotefoams plc (LSE - ZTF) is a world leader in cellular materials technology delivering optimal material solutions for the benefit of society. Utilising a variety of unique manufacturing processes, including environmentally friendly nitrogen expansion for lightweight AZOTE® polyolefin and ZOTEK® high-performance foams, Zotefoams sells to diverse markets worldwide. Zotefoams uses its own cellular materials to manufacture T-FIT® advanced insulation for demanding industrial markets. Zotefoams also owns and licenses patented microcellular foam technology to reduce plastic use in extrusion applications and for ReZorce® mono-material recyclable barrier packaging.
Zotefoams is headquartered in Croydon, UK, with additional manufacturing sites in Kentucky, USA and Brzeg, Poland (foam manufacture), Oklahoma, USA (foam products manufacture and conversion), Massachusetts, USA (MuCell Extrusion) and Jiangsu Province, China (T-FIT).
www.zotefoams.com
AZOTE®, ZOTEK®, ReZorce® and T-FIT® are registered trademarks of Zotefoams plc.
ZOTEFOAMS PLC
DEALING NOTIFICATION FORMFOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
1. | Details of the person discharging managerial responsibilities/person closely associated | ||||||
a) | Name: David Burns Stirling | ||||||
2. | Reason for the notification | ||||||
a) | Position/status: Group CEO | ||||||
b) | Initial notification/Amendment: Initial notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||
a) | Name: Zotefoams plc | ||||||
b) | LEI: 213800B6P256B5XN8D32 | ||||||
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 5 pence each Identification code: GB0009896605 | ||||||
b) | Nature of the transaction: Exercise and sale of shares under the Long-Term Incentive Plan and the Deferred Bonus Share Plan | ||||||
c) | Price(s) and volume(s):
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d) | Aggregated information:
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e) | Date of the transaction: 8 June 2021 | ||||||
f) | Place of the transaction: XLON |
1. | Details of the person discharging managerial responsibilities/person closely associated | ||||||
a) | Name: Gary Christopher McGrath | ||||||
2. | Reason for the notification | ||||||
a) | Position/status: Group CFO | ||||||
b) | Initial notification/Amendment: Initial notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||
a) | Name: Zotefoams plc | ||||||
b) | LEI: 213800B6P256B5XN8D32 | ||||||
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 5 pence each Identification code: GB0009896605 | ||||||
b) | Nature of the transaction: Exercise and sale of shares for tax under the Long-Term Incentive Plan and the Deferred Bonus Share Plan | ||||||
c) | Price(s) and volume(s):
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d) | Aggregated information:
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e) | Date of the transaction: 8 June 2021 | ||||||
f) | Place of the transaction: XLON | ||||||
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 5 pence each Identification code: GB0009896605 | ||||||
b) | Nature of the transaction: Exercise and retention of shares under the Long-Term Incentive Plan and the Deferred Bonus Share Plan | ||||||
c) | Price(s) and volume(s):
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d) | Aggregated information:
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e) | Date of the transaction: 8 June 2021 | ||||||
f) | Place of the transaction: XLON |
1. | Details of the person discharging managerial responsibilities/person closely associated | ||||||
a) | Name: Karl David Hewson | ||||||
2. | Reason for the notification | ||||||
a) | Position/status: Senior Executive | ||||||
b) | Initial notification/Amendment: Initial notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||
a) | Name: Zotefoams plc | ||||||
b) | LEI: 213800B6P256B5XN8D32 | ||||||
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 5 pence each Identification code: GB0009896605 | ||||||
b) | Nature of the transaction: Exercise and sale of shares for tax under the Long-Term Incentive Plan and the Deferred Bonus Share Plan | ||||||
c) | Price(s) and volume(s):
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d) | Aggregated information:
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e) | Date of the transaction: 8 June 2021 | ||||||
f) | Place of the transaction: XLON | ||||||
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 5 pence each Identification code: GB0009896605 | ||||||
b) | Nature of the transaction: Exercise and retention of shares under the Long-Term Incentive Plan and the Deferred Bonus Share Plan | ||||||
c) | Price(s) and volume(s):
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d) | Aggregated information:
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e) | Date of the transaction: 8 June 2021 | ||||||
f) | Place of the transaction: XLON |
1. | Details of the person discharging managerial responsibilities/person closely associated | ||||||
a) | Name: Hugh De Riemer Morgan | ||||||
2. | Reason for the notification | ||||||
a) | Position/status: Senior Executive | ||||||
b) | Initial notification/Amendment: Initial notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||
a) | Name: Zotefoams plc | ||||||
b) | LEI: 213800B6P256B5XN8D32 | ||||||
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 5 pence each Identification code: GB0009896605 | ||||||
b) | Nature of the transaction: Exercise and sale of shares for tax under the Long-Term Incentive Plan and the Deferred Bonus Share Plan | ||||||
c) | Price(s) and volume(s):
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d) | Aggregated information:
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e) | Date of the transaction: 8 June 2021 | ||||||
f) | Place of the transaction: XLON | ||||||
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 5 pence each Identification code: GB0009896605 | ||||||
b) | Nature of the transaction: Exercise and retention of shares under the Long-Term Incentive Plan and the Deferred Bonus Share Plan | ||||||
c) | Price(s) and volume(s):
| ||||||
d) | Aggregated information:
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e) | Date of the transaction: 8 June 2021 | ||||||
f) | Place of the transaction: XLON |
1. | Details of the person discharging managerial responsibilities/person closely associated | ||||||
a) | Name: Daniel Bryan Catalano | ||||||
2. | Reason for the notification | ||||||
a) | Position/status: Senior Executive | ||||||
b) | Initial notification/Amendment: Initial notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||
a) | Name: Zotefoams plc | ||||||
b) | LEI: 213800B6P256B5XN8D32 | ||||||
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 5 pence each Identification code: GB0009896605 | ||||||
b) | Nature of the transaction: Exercise and sale of shares under the Long-Term Incentive Plan and the Deferred Bonus Share Plan | ||||||
c) | Price(s) and volume(s):
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d) | Aggregated information:
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e) | Date of the transaction: 8 June 2021 | ||||||
f) | Place of the transaction: XLON |