Director/PDMR Shareholding

RNS Number : 4784T

TT Electronics PLC

20 March 2019

 

20 March 2019

TT Electronics plc

Long Term Incentive Plan 2014 ("LTIP")

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

On 18 March 2019, 86.5% of the LTIP share awards granted on 16 March 2016 (the "2016 Awards") to Richard Tyson, Chief Executive Officer and Mark Hoad, Chief Financial Officer, both being Persons Discharging Managerial Responsibility, vested.

The following table sets out the transactions relating to the vesting of the 2016 Awards which were notified to the Company on 19 March 2019:

Executive Director	Shares Vested	Shares retained (post tax / NI)1	Resultant beneficial interest in the Company's shares
Richard Tyson	295,536	156,355	717,2512
Mark Hoad	180,798	95,652	550,0903

¹  Sufficient shares were sold in respect of tax and statutory withholdings. The shares were sold on the London Stock Exchange at a gross price of £2.28.

²  R Tyson's beneficial interest includes shares held by a PCA, Louise Tyson.

3 M Hoad's beneficial interest includes shares held by a PCA, Tracy Hoad.

The balance of the vesting of the 2016 Awards to the Executive Directors was satisfied by the transfer of ordinary shares for no consideration to the relevant individual by the trustee of the Company's Employee Benefit Trust.

The following notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further details.

1.	Details of PDMR / person closely associated with  them  ('PCA')
a)	Name	Richard Tyson
2.	Reason for the notification
a)	Position / status	CEO
b)	Initial notification / Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	TT Electronics plc
b)	LEI	213800TJGBW5VFHQEV54
4.	Details of the transaction(s)
a)	Description of the financial instrument, type of instrument Identification Code	Ordinary shares of 25p each GB0008711763
b)	Nature of the transaction	Transfer of Ordinary Shares arising from vesting of Long Term Incentive Plan award granted on 16 March 2016
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 156,355
d)	Aggregated information Aggregated volume Price	See 4c above See 4c above
e)	Date of the transaction	2019-03-20
f)	Place of the transaction	XLON

1.	Details of PDMR / person closely associated with  them  ('PCA')
a)	Name	Mark Hoad
2.	Reason for the notification
a)	Position / status	CFO
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	TT Electronics plc
b)	LEI	213800TJGBW5VFHQEV54
4.	Details of the transaction(s)
a)	Description of the financial instrument, type of instrument Identification Code	Ordinary shares of 25p each GB0008711763
b)	Nature of the transaction	Transfer of Ordinary Shares arising from vesting of Long Term Incentive Plan award granted on 16 March 2016
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 95,652
d)	Aggregated information Aggregated volume Price	See 4c above See 4c above
e)	Date of the transaction	2019-03-20
f)	Place of the transaction	XLON

For further information please contact:

TT Electronics plc

Richard Tyson, Chief Executive Officer:                                   Tel:  + 44 (0)1932 825300

Mark Hoad, Chief Financial Officer:

Emma Darke, Head of Investor Relations and Communications           

MHP Communications

Tim Rowntree / Katie Hunt / Nessyah Hart:                              Tel:  [phone]

 

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