Director/PDMR Shareholding

RNS Number : 4615S

TT Electronics PLC

16 March 2021

 

16 March 2021

TT Electronics plc

Deferred Share Bonus 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 Company's Deferred Share Bonus Plan to the Executive Directors of the Company.

In deciding the 2020 short-term incentive award to the Executive Directors, the Remuneration Committee decided to defer the full award into Shares rather than adopt the 80 per cent cash payment and 20 per cent deferred share approach as per the default under the Remuneration Policy and accordingly the awards represent such 100 per cent deferral in Shares.

Executive Director  Number of Shares

Richard Tyson  105,058

Mark Hoad                                                                                         78,808

In line with the Remuneration Policy 20 per cent of the award will vest on the second anniversary and the remaining 2020 STIP award, deferred in excess of the Remuneration Policy default, will vest on the first anniversary.

No consideration was payable for the grant of awards. 

Awards are subject to malus and 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 Deferred Share Bonus Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 105,058
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 Deferred Share Bonus Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) £0.00 78,808
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]

 

END

 

 

DSHFLFSEVAIRLIL