Director/PDMR Shareholding

RNS Number : 6911C

ConvaTec Group PLC

20 October 2020

 

20 October 2020

ConvaTec Group Plc
("ConvaTec" or "the Company")
Director/PDMR Shareholding

The Company has been notified of the following transaction by a Person Discharging Managerial Responsibility ("PDMR") in ordinary shares of 10 pence each in the share capital of the Company ("Shares").

On 30 September 2020, Mr Karim Bitar, Chief Executive Officer and a PDMR, received 1,124,095 Shares following the vesting of a share award made to him under the Company's Long term Incentive Plan ("LTIP") in September 2019. On 1 October 2020, Mr Bitar sold 529,782 shares at £1.808 per share to cover the income tax liabilities relating to the vesting of the share award, leaving a retained balance of 594,313 Shares . The vesting of the award made under the LTIP was not subject to any performance conditions other than continued employment.

Further, on 15 October 2020, Mr Bitar acquired 7338 Shares at £1.775 per share under the terms of the Dividend Reinvestment Plan ("DRP") operated by the Company's registrars for employees holding shares within its Share Plan Account.

Mr Bitar's resulting shareholding is 1,606,064 Shares.

The attached notification, made in accordance with the requirements of the EU Market Abuse Regulation, gives further detail.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Karim Bitar
2	Reason for the notification
a)	Position/Status	Chief Executive Officer
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ConvaTec Group Plc
b)	LEI	213800LS272L4FIDOH92
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 10p each in ConvaTec Group Plc ("Shares") GB00BD3VFW73
b)	Nature of the transaction	Sale of shares arising from the exercise of the share award which vested on 30 September 2020, to offset income tax and social security liabilities on the exercise.
c)	Price(s) and volume(s)	Price(s) 1.808	Volume(s) 529,782
d)	Aggregated information - Aggregated volume  - Price	N/A N/A
e)	Date of the transaction	1 October 2020
f)	Place of the transaction	London Stock Exchange, Main Market (XLON)

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Karim Bitar
2	Reason for the notification
a)	Position/Status	Chief Executive Officer
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ConvaTec Group Plc
b)	LEI	213800LS272L4FIDOH92
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 10p each in ConvaTec Group Plc ("Shares") GB00BD3VFW73
b)	Nature of the transaction	Acquisition of Shares under the terms of the Dividend Reinvestment Plan operated by the Company's registrars for employees holding shares within its Share Plan Account.
c)	Price(s) and volume(s)	Price(s) 1.775	Volume(s) 7338
d)	Aggregated information - Aggregated volume  - Price	N/A N/A
e)	Date of the transaction	15 October 2020
f)	Place of the transaction	Outside a trading venue

Enquiries

Analysts and Investors

Kate Postans, VP Investor Relations &

Corporate Communications, ConvaTec,  [phone]

[e-mail]

Media

Buchanan: Charles Ryland / Chris Lane     [phone]       

ConvaTec Group Plc's LEI code is 213800LS272L4FIDOH92

About ConvaTec

ConvaTec is a global medical products and technologies company focused on therapies for the management of chronic conditions, with leading market positions in advanced wound care, ostomy care, continence and critical care, and infusion care. Our vision, which encompasses our purpose, is: Pioneering trusted medical solutions to improve the lives we touch. Our products provide a range of clinical and economic benefits including infection prevention, protection of at-risk skin, improved patient outcomes and reduced total cost of care. To learn more about ConvaTec, please visit  www.convatecgroup.com .

 

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