Director/PDMR Shareholding

Genuit Group PLC

25 April 2023

 

Genuit Group plc (the "Company')

Notification of Transactions by Persons Discharging Managerial Responsibilities

The Company confirms that on 21 April 2023, in accordance with its shareholder approved Remuneration Policy, it granted to each of the following Directors/Persons Discharging Managerial Responsibility ("PDMRs") an award (structured as a nil cost option) under the Genuit Group plc 2014 Long Term Incentive Plan (the "LTIP"). In addition, the Company made an award, subject to the same performance conditions as set out below, under the LTIP, to 27 members of the Senior Management Team. The awards, which have been granted in respect of the financial year beginning on 1 January 2023, are over the following maximum number of Ordinary Shares of £0.001 each in the Company ("Shares") in the Company:

Name/Position	Category	Maximum number of Shares
Joe Vorih /Chief Executive Officer	Director	312,534
Paul James/Chief Financial Officer	Director	189,753
Clare Taylor/Chief People Officer	PDMR	55,184
Martin Gisbourne/Chief Strategy and Sustainability Officer	PDMR	60,686
Emma Versluys/Group Legal Counsel & Company Secretary	PDMR	43,347

The vesting of each award is subject to the satisfaction of the following performance conditions:

1.   25% of the maximum potential award is based on a Total Shareholder Return performance condition, with 25% of the TSR element vesting for achieving median and 100% vesting for achieving upper quartile performance relative to the Total Shareholder Return of the companies in a comparator group (consisting of companies in the FTSE 250 Index that are classified as Industrials by the Industry Classification Benchmark);

2.   25% of the maximum potential award is based on sustainability targets set to align with the Company's sustainability strategy. The targets are as follows:

a.   Carbon reduction target - 8.33% of the total award is based on emissions intensity that is defined as Scopes 1 and 2 tonnes of CO2e per tonne of output with 25% of the carbon reduction target vesting for achieving an emissions intensity of 0.093 and 100% vesting for achieving an emissions intensity of 0.086 as measured in FY 2025;

b.   Use of recycled plastics - 8.33% of the total award is based on the proportion of our products that are manufactured from recycled products, with 25% of the use of recycled plastics target vesting for achieving 57.4% and 100% vesting when reaching 62.0% as measured in FY 2025; and

c.   The 5% Club - this target is based on the Group's commitment to creating a sustainable business culture with 25% of the 5% Club target vesting when progress towards the 5% Club reaches 4.6% and 100% vesting when 5% is reached as measured in FY 2025.

3.   50% of the maximum potential award is based on an Underlying Diluted Earnings per Share ("EPS") performance condition based on FY 2025 EPS with 25% of the EPS target vesting for achieving an EPS of 30.1p and 100% vesting for an EPS of 35.6p.

The performance conditions are all measured over the three-year period commencing on 1 January 2023, using measures and baselines as described above. The Committee also retains discretion to reduce vesting if it considers that the level of vesting is not consistent with the Company's overall performance over the three-year period.

Subject to the satisfaction of the performance conditions, the awards will normally vest on 21 April 2026 and remain exercisable until the tenth anniversary of the grant date.

The notifications below, which have been made in accordance with the requirements of the UK Market Abuse Regulation, provide further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated. 

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Joe Vorih
2	Reason for the notification
a)	Position/status	Chief Executive Officer/Director and PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Genuit Group plc
b)	LEI	2138005IF1N2RKJ6KO18
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 £0.001 each in the capital of Genuit Group plc GB00BKRC5K31
b)	Nature of the transaction	Grant of an award, structured as a nil cost option, under the Company's 2014 Long Term Incentive Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 312,534
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	21 April 2023
f)	Place of the transaction	Outside a Trading Venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Paul James
2	Reason for the notification
a)	Position/status	Chief Financial Officer/Director and PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Genuit Group plc
b)	LEI	2138005IF1N2RKJ6KO18
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 £0.001 each in the capital of Genuit Group plc GB00BKRC5K31
b)	Nature of the transaction	Grant of an award, structured as a nil cost option, under the Company's 2014 Long Term Incentive Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 189,753
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	21 April 2023
f)	Place of the transaction	Outside a Trading Venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Clare Taylor
2	Reason for the notification
a)	Position/status	Chief People Officer/PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Genuit Group plc
b)	LEI	2138005IF1N2RKJ6KO18
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 £0.001 each in the capital of Genuit Group plc GB00BKRC5K31
b)	Nature of the transaction	Grant of an award, structured as a nil cost option, under the Company's 2014 Long Term Incentive Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 55,184
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	21 April 2023
f)	Place of the transaction	Outside a Trading Venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Martin Gisbourne
2	Reason for the notification
a)	Position/status	Chief Strategy and Sustainability Officer/PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Genuit Group plc
b)	LEI	2138005IF1N2RKJ6KO18
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 £0.001 each in the capital of Genuit Group plc GB00BKRC5K31
b)	Nature of the transaction	Grant of an award, structured as a nil cost option, under the Company's 2014 Long Term Incentive Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 60,686
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	21 April 2023
f)	Place of the transaction	Outside a Trading Venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Emma Versluys
2	Reason for the notification
a)	Position/status	Group Legal Counsel & Company Secretary/PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Genuit Group plc
b)	LEI	2138005IF1N2RKJ6KO18
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 £0.001 each in the capital of Genuit Group plc GB00BKRC5K31
b)	Nature of the transaction	Grant of an award, structured as a nil cost option, under the Company's 2014 Long Term Incentive Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 43,347
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	21 April 2023
f)	Place of the transaction	Outside a Trading Venue
Contacts: Emma Versluys, Group Legal Counsel & Company Secretary			[phone]

 

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