Director/PDMR Shareholding

RNS Number : 9443F

Electrocomponents PLC

20 November 2020

 

ELECTROCOMPONENTS PLC

(the "Company")

Notification of transactions by Persons Discharging Managerial Responsibilities

The Company announces that a grant of awards over the Company ordinary shares of 10 pence each in the Company was made on 19 November 2020 under the Electrocomponents Long Term Incentive Scheme 2014 ('LTIP').

As disclosed in the Annual Report and Accounts for the year ending 31 March 2020, given the challenges of COVID-19 the grant of LTIP awards in the current financial year was deferred. These awards have now been granted.  The same measures and weightings have been retained and the Adjusted EPS targets have been calibrated in line with our Policy to reflect expectations of what will constitute appropriately challenging performance levels.

Vesting of these awards will be determined in accordance with the following performance targets measured over the three years to 31 March 2023:

Measure	Weight	Threshold (25% vesting)	Maximum (100% vesting)
Adjusted EPS (cumulative 2021, 2022, 2023)¹	50%	105p	130p
TSR (vs Industrial / Electronic peer group) ¹,2	50%	Median	Upper Quartile
ROCE	underpin	Set at 20%. If the underpin is not met, the Remuneration Committee will review the formulaic level of vesting and consider whether it would be appropriate to use its discretion to reduce the level of vesting.

1. Straight-line vesting between measurement points.

2. Comprises ABB, Arrow Electronics, Avnet, Bunzl, Datwyler, Essentra, Fastenal, Ferguson, MSC Industrial Supply, Rexel, Rockwell, Schneider, Siemens, TE Connectivity, WESCO International and WW Grainger.

Further description of the awards granted will be included in the Annual Report and Accounts 2021.

The notification below, which has been made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Ian Haslegrave

Company Secretary

20 November 2020

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

The Company makes the following notifications pursuant to the EU Market Abuse Regulation.

1 .		Details of the person discharging managerial responsibilities / person closely associated
a)		Name		Lindsley Ruth
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		Electrocomponents plc
b)		LEI		549300KVXDURRKVW7R37
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		10 pence ordinary shares
	Identification code		GB0003096442
b)	Nature of the transaction		Conditional award of shares made under the Electrocomponents Long Term Incentive Plan 2014
c)	Price(s) and volume(s)
					Price(s)	Volume(s)
					Nil	195,486
d)	Aggregated information
	- Aggregated volume		195,486
	- Price		Nil
e)	Date of the transaction		2020-11-19
f)	Place of the transaction		Outside a trading venue

1 .	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Egan
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	Electrocomponents plc
b)	LEI	549300KVXDURRKVW7R37
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	10 pence ordinary shares
	Identification code	GB0003096442
b)	Nature of the transaction	Conditional award of shares made under the Electrocomponents Long Term Incentive Plan 2014
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	127,699
d)	Aggregated information
	- Aggregated volume	127,699
	- Price	Nil
e)	Date of the transaction	2020-11-19
f)	Place of the transaction	Outside a trading venue

1 .	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Michael England
2.	Reason for the notification
a)	Position/status	Chief Operating Officer
b)	Initial notification /Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Electrocomponents plc
b)	LEI	549300KVXDURRKVW7R37
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	10 pence ordinary shares
	Identification code	GB0003096442
b)	Nature of the transaction	Conditional award of shares made under the Electrocomponents Long Term Incentive Plan 2014
c)	Price(s) and volume(s)
			Price(s)	Volume(s)
			Nil	61,338
d)	Aggregated information
	- Aggregated volume	61,338
	- Price	Nil
e)	Date of the transaction	2020-11-19
f)	Place of the transaction	Outside a trading venue

 

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