Director/PDMR Shareholding

RNS Number : 4612S

TT Electronics PLC

16 March 2021

 

16 March 2021

TT Electronics plc

Long Term Incentive Plan

TT Electronics plc (the "Company") announces that conditional awards of ordinary shares of 25p each in the Company ("Shares") were granted on 16 March 2021 under the Long Term Incentive Plan 2014 to the following Executive Directors of the Company:

Executive Director  Maximum Number
  of Shares

Richard Tyson                                                                                   349,621

Mark Hoad                                                                                         262,265

No consideration is payable for the grant of the awards. 

As supported by the Investment Association's recent addendum to its guidance on shareholder expectations during the Covid-19 pandemic, the Company's Remuneration Committee resolved to set the performance targets attached to the awards within six months of their grant date. The targets, which will be based on Earnings Per Share and relative Total Shareholder Return, will be published as soon as possible after they have been agreed via an RNS. The awards will normally vest three years from the date of grant, subject to achievement of their performance conditions and the grantee's continued service.

Awards are subject to clawback provisions.

The Company was informed of the above transactions on 16 March 2021. The following notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further details.

1.	DetailsofPDMR/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	Grant of conditional award of ordinary shares under the terms of the Long Term Incentive Plan 2014
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 349,621
d)	Aggregated information Aggregated volume Price	See 4c above See 4c above
e)	Date of the transaction	2021-03-16
f)	Place of the transaction	Outside a trading venue

1.	DetailsofPDMR/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	Grant of conditional award of ordinary shares under the terms of the Long Term Incentive Plan 2014
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 262,265
d)	Aggregated information Aggregated volume Price	See 4c above See 4c above
e)	Date of the transaction	2021-03-16
f)	Place of the transaction	Outside a trading venue

For further information please contact:

TT Electronics plc

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

Mark Hoad, Chief Financial Officer:

Julian Wais, Head of Investor Relations 

MHP Communications

Tim Rowntree / Rachel Mann:  Tel:  [phone]

 

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