Director/PDMR Shareholding

RNS Number : 1733F

ConvaTec Group PLC

17 March 2022

 

Reading, United Kingdom  - Thursday 17 March 2022

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

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

On 14 March 2022, Karim Bitar, the Company's Chief Executive Officer, and Jonny Mason, the Company's Chief Financial Officer, both Executive Directors, were granted conditional share awards under the Company's Long Term Incentive Plan (LTIP), subject to a time vesting period of three years, performance conditions based on a combination of Adjusted Profit Before Tax growth and Total Shareholder Return, and continued employment, as follows:

Karim Bitar:    1,238,337
Jonny Mason:    690,112

Further, on the same day, Karim Bitar was granted 263,650 Shares in accordance with the Company's remuneration policy approved by shareholders, as a result of one third of Mr Bitar's annual bonus being paid out as deferred shares, such shares to vest on the third anniversary of grant. The three-day average share price, closing on 11 March 2022 of 181.13 pence was used in determining the number of shares to be granted under the deferred bonus provisions.

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	1.  Grant of conditional share award under the ConvaTec Group Plc Long Term Incentive Plan subject to (i) time vesting period of three years, (ii) performance conditions based on a combination of Adjusted Profit Before Tax growth and Total Shareholder Return and (ii) continued employment 2. Grant of restricted share award under the deferred bonus provisions, subject only to a time-based vesting period of three years.
c)	Price(s) and volume(s)	Price(s) 1 - n/a 2 - n/a	Volume(s) 1 - 1,238,337 2 - 263,650
d)	Aggregated information - Aggregated volume  - Price	n/a n/a
e)	Date of the transaction	2022-03-14
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Jonny Mason
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	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	Grant of conditional share award under the ConvaTec Group Plc Long Term Incentive Plan subject to (i) time vesting period of three years, (ii) performance conditions based on a combination of Adjusted Profit Before Tax growth and Total Shareholder Return and (ii) continued employment.
c)	Price(s) and volume(s)	Price(s) n/a	Volume(s) 690,112
d)	Aggregated information - Aggregated volume  - Price	n/a n/a
e)	Date of the transaction	2022-03-14
f)	Place of the transaction	Outside a trading venue

Enquiries

Analysts and Investors

Kate Postans, VP Investor Relations, 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 solutions for the management of chronic conditions, with leading market positions in advanced wound care, ostomy care, continence and critical care, and infusion care. 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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