Director/PDMR Shareholding

RNS Number : 8604G

Avon Rubber PLC

19 March 2020

 

NOTIFICATION DEALING WITH GRANT OF AWARDS UNDER THE PLAN

AVON RUBBER P.L.C.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.

On 17 March 2020 the following awards over ordinary shares of £1 each in Avon Rubber p.l.c. were granted under the Avon Rubber p.l.c. Long Term Incentive Plan to the following person(s) discharging managerial responsibilities:

PDMR	No. of shares under Award
Paul McDonald	31,734
Nick Keveth	22,059
Miles Ingrey-Counter	9,832
Craig Sage	8,737
James Wilcox	10,616
David Mack	9,840
Terry Griffith	6,867

The awards were granted as a nil cost option for the four UK resident PDMRs and conditional awards for James Wilcox, David Mack and Terry Griffith who are resident in the US.  The nil cost option awards will ordinarily become exercisable and the conditional awards will ordinarily vest on 1 December 2022, subject to the grantee's continued service and the Remuneration Committee's assessment of the extent to which the performance conditions applicable to the awards are satisfied.

Each award is subject to two performance conditions (each applicable to a distinct 50% of an award) measured over a period of three financial years, starting with the 2020 financial year. The first performance condition compares the Company's total shareholder return to the total shareholder return of a comparator group of companies consisting of the FTSE All-Share Index. The second performance condition measures compound average annual growth in the Company's earnings per share over the period of three financial years, starting with the 2020 financial year.

Fuller details of the performance condition applicable to the awards shall are set out in the Company's Directors' Remuneration Report for the year ending 30 September 2019.

The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.

Details of the full notifications received by the Company are set out below.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Paul McDonald
2	Reason for Notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Avon Rubber p.l.c.
b)	LEI	213800JM1AN62REBWA71
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 Identification code	Ordinary Shares of £1 each in Avon Rubber p.l.c. GB0000667013
b)	Nature of the transaction	Grant of a nil cost option award under the Avon Rubber p.l.c. Long Term Incentive Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 31,734
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	17 March 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Nick Keveth
2	Reason for Notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Avon Rubber p.l.c.
b)	LEI	213800JM1AN62REBWA71
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 Identification code	Ordinary Shares of £1 each in Avon Rubber p.l.c. GB0000667013
b)	Nature of the transaction	Grant of a nil cost option award under the Avon Rubber p.l.c. Long Term Incentive Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 22,059
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	17 March 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Miles Ingrey-Counter
2	Reason for Notification
a)	Position/status	Company Secretary
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Avon Rubber p.l.c.
b)	LEI	213800JM1AN62REBWA71
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 Identification code	Ordinary Shares of £1 each in Avon Rubber p.l.c. GB0000667013
b)	Nature of the transaction	Grant of a nil cost option award under the Avon Rubber p.l.c. Long Term Incentive Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 9,832
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	17 March 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Craig Sage
2	Reason for Notification
a)	Position/status	Divisional Head - Dairy
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Avon Rubber p.l.c.
b)	LEI	213800JM1AN62REBWA71
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 Identification code	Ordinary Shares of £1 each in Avon Rubber p.l.c. GB0000667013
b)	Nature of the transaction	Grant of a nil cost option award under the Avon Rubber p.l.c. Long Term Incentive Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 8,737
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	17 March 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	James Wilcox
2	Reason for Notification
a)	Position/status	Divisional Head - Military
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Avon Rubber p.l.c.
b)	LEI	213800JM1AN62REBWA71
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 Identification code	Ordinary Shares of £1 each in Avon Rubber p.l.c. GB0000667013
b)	Nature of the transaction	Grant of a conditional award under the Avon Rubber p.l.c. Long Term Incentive Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 10,616
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	17 March 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Mack
2	Reason for Notification
a)	Position/status	Divisional Head- First Responder
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Avon Rubber p.l.c.
b)	LEI	213800JM1AN62REBWA71
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 Identification code	Ordinary Shares of £1 each in Avon Rubber p.l.c. GB0000667013
b)	Nature of the transaction	Grant of a conditional award under the Avon Rubber p.l.c. Long Term Incentive Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 9,840
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	17 March 2020
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Terry Griffith
2	Reason for Notification
a)	Position/status	Divisional Head - Helmets & Armor
b)	Initial notification/Amendment	Initial Announcement
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Avon Rubber p.l.c.
b)	LEI	213800JM1AN62REBWA71
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 Identification code	Ordinary Shares of £1 each in Avon Rubber p.l.c. GB0000667013
b)	Nature of the transaction	Grant of a conditional award under the Avon Rubber p.l.c. Long Term Incentive Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 6,867
d)	Aggregated information -  Aggregated volume -  Price	Not applicable - single transaction
e)	Date of the transaction	17 March 2020
f)	Place of the transaction	Outside a trading venue

Enquiries: 

Avon Rubber p.l.c.

Miles Ingrey-Counter, Company Secretary  01225 896 850 

 

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