Directors' and PDMRs' Interest in Shares

RNS Number : 1321I

Avon Rubber PLC

09 December 2020

 

9 December 2020

Avon Rubber p.l.c. ('the Company')

Directors' and PDMRs' Interest in Shares

Release of 2018 deferred bonus shares

As previously announced to shareholders on 4 December 2018, a portion of the annual bonus payments due to Chief Executive Officer Paul McDonald, Chief Financial Officer Nick Keveth, PDMR Miles Ingrey-Counter and PDMR James Wilcox in respect of the 2018 financial year were deferred into Company shares, to be held for two years.

On 2 December 2020, following expiry of the deferral period, 1,788 deferred bonus shares were released to Paul McDonald, 1,309 to Nick Keveth, 942 to Miles Ingrey-Counter and 669 to James Wilcox. Paul McDonald, Miles Ingrey-Counter and James Wilcox sold these shares at a price of 4006.5 pence per share on 7 December 2020. Deferred bonus shares are not subject to the Company's shareholding guidelines.

1	Details of person discharging managerial responsibilities/person closely associated
a)	Name	Paul McDonald
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	Avon Rubber p.l.c.
b)	LEI	213800JM1AN62REBWA71
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 and ISIN Code	Ordinary £1 shares in Avon Rubber p.l.c. GB0000667013
b)	Nature of the transaction	Sale of shares. Following expiry of the deferral period, the 2018 deferred bonus shares purchased on 29 November 2018 were released to and were sold by Paul McDonald.
c)	Price(s) and volume(s)	Price(s) £40.065 Volume(s) 1,788
d)	Aggregated Information -  Aggregated volume -  Aggregated price -  Aggregated total	N/A
e)	Date of the transaction	2020-12-07
f)	Place of the transaction	London Stock Exchange (XLON)

1	Details of person discharging managerial responsibilities/person closely associated
a)	Name	Miles Ingrey-Counter
2	Reason for the notification
a)	Position / status	Company Secretary
b)	Initial notification / amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Avon Rubber p.l.c.
b)	LEI	213800JM1AN62REBWA71
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 and ISIN Code	Ordinary £1 shares in Avon Rubber p.l.c. GB0000667013
b)	Nature of the transaction	Sale of shares. Following expiry of the deferral period, the 2018 deferred bonus shares purchased on 29 November 2018 were released to and were sold by Miles Ingrey-Counter.
c)	Price(s) and volume(s)	Price(s) £40.065 Volume(s) 942
d)	Aggregated Information -  Aggregated volume -  Aggregated price -  Aggregated total	N/A
e)	Date of the transaction	2020-12-07
f)	Place of the transaction	London Stock Exchange (XLON)

1	Details of person discharging managerial responsibilities/person closely associated
b)	Name	James Wilcox
2	Reason for the notification
c)	Position / status	President - Military
d)	Initial notification / amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
c)	Name	Avon Rubber p.l.c.
d)	LEI	213800JM1AN62REBWA71
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
g)	Description of the financial instrument and ISIN Code	Ordinary £1 shares in Avon Rubber p.l.c. GB0000667013
h)	Nature of the transaction	Sale of shares. Following expiry of the deferral period, the 2018 deferred bonus shares purchased on 29 November 2018 were released to and were sold by James Wilcox.
i)	Price(s) and volume(s)	Price(s) £40.065 Volume(s) 669
j)	Aggregated Information -  Aggregated volume -  Aggregated price -  Aggregated total	N/A
k)	Date of the transaction	2020-12-07
l)	Place of the transaction	London Stock Exchange (XLON)

2020 deferred bonus arrangements

A portion of the annual bonus payments due to the Executive Directors, Paul McDonald and Nick Keveth and certain PDMRs of the Company in respect of the 2020 financial year were deferred into Company shares on 7 December 2020. 25% of the annual bonus for the Executive Directors, and 25% of the annual bonus linked to financial targets (as distinct from personal performance targets) for the PDMRs, was subject to tax and national insurance/social security and the net amount was used to purchase Company shares. The shares are to be held for two years and are not subject to the Company's shareholding guidelines.

The table below sets out the number of 2020 deferred bonus shares held by the Executive Directors and each PDMR following this transaction.

1	Details of person discharging managerial responsibilities/person closely associated
a)	Name	1)  Paul McDonald 2)  Nicholas Keveth 3)  Miles Ingrey-Counter 4)  Keyana Hughes 5)  James Wilcox 6)  David Mack
2	Reason for the notification
a)	Position / status	1)  Chief Executive Officer 2)  Chief Financial Officer 3)  Company Secretary 4)  President, Operations 5)  President, Military 6)  President, First Responder
b)	Initial notification / amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Avon Rubber p.l.c.
b)	LEI	213800JM1AN62REBWA71
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 and ISIN Code	Ordinary £1 shares in Avon Rubber p.l.c. GB0000667013
b)	Nature of the transaction	Acquisition of shares. 25% of the annual bonus payments for Executive Directors and 25% of the annual bonus payments linked to financial targets (as distinct from personal performance targets) for the PDMRs, was subjected to tax and national insurance/social security and the net amount was used to purchase Company shares. The shares are to be held for two years and are not subject to the Company's shareholding guidelines.
c)	Price(s) and volume(s)	Price(s) Volume(s) 1)  £40.04 2)  £40.04 3)  £40.04 4)  £40.04 5)  £40.04 6)  £40.04 1)  883 2)  613 3)  359 4)  131 5)  456 6)  422
d)	-  Aggregated total -  Aggregated volume -  Aggregated price -  Aggregated total	N/A
e)	Date of the transactions	All occurred on 2020-12-07
f)	Place of the transaction	London Stock Exchange (XLON)

LEI: 213800JM1AN62REBWA71
Classification: Transactions by PDMRs under article 19 of the Market Abuse Regulation.

 

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