Director/PDMR Shareholding

CT Automotive Group PLC
31 October 2024
 

31 October 2024

 

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CT Automotive Group PLC

("CT Automotive" or the "Group")

 

Grant of Awards under the Long Term Incentive Plan

 

CT Automotive, a leading designer, developer and supplier of interior components to the global automotive industry, announces that on 30 October 2024, the Company awarded 660,194[1] nominal cost options under the CT Automotive Long Term Incentive Plan 2022 to certain senior executives, including to its Chief Executive Officer and Chief Financial Officer. 

The awards have been granted in relation to ordinary shares of £0.005 ("Ordinary Shares") in the form of options to acquire Ordinary Shares at nominal value ("LTIP Awards") and will all vest on the third anniversary of grant. 

The table below sets out details of the LTIP Awards granted to directors of the Company.

Executive Director

Role

Performance conditions

Number of LTIP Awards granted

Simon Phillips

Chief Executive Officer

Earnings per share performance criteria for 3 year period ending FY2025

213,592

Salman Mohammed

Chief Financial Officer

No performance conditions

38,835


For future awards, the Remuneration Committee intend to grant Salman Mohammed awards which will be subject to performance conditions to reflect the fact that as of 17 October 2024, he is a member of the Executive Board and considered to be one of the senior executives. 

Enquiries:

CT Automotive

Simon Phillips, Chief Executive Officer

Salman Mohammed, Chief Financial Officer

 

 

Via Novella

 

Singer Capital Markets Advisory LLP (Nominated Adviser and Broker)

Steve Pearce, Alex Bond, James Todd

 

 

Tel: +44 (0)20 7496 3000

Novella Communications (Financial Public Relations)

Tim Robertson, Claire de Groot, Safia Colebrook

Tel : +44 (0)20 3151 7008

ctautomotive@novella-comms.com

 

 

Notes to editors

 

CT Automotive is engaged in the design, development and manufacture of bespoke automotive interior finishes (for example, dashboard panels and fascia finishes) and kinematic assemblies (for example, air registers, arm rests, deployable cup holders and storage systems), as well as their associated tooling, for the world's leading automotive original equipment suppliers ("OEMs") and global Tier One manufacturers.

 

The Group is headquartered in the UK with a low cost manufacturing footprint. Key production facilities are located in Shenzhen and Ganzhou, China complemented by additional manufacturing facilities in Mexico, Türkiye and Czechia.

 

CT Automotive's operating model enables it to pursue a price leadership strategy, supplying high quality parts to customers at a lower overall landed cost than competitors. This has helped the Group build a high-quality portfolio of OEM customers, both directly and via Tier One suppliers including Forvia and Marelli.  End customers include volume manufacturers, such as Nissan, Ford, GM and Volkswagen Audi Group, and premium luxury car brands such as Bentley and Lamborghini.  In addition, the Group supplies all our customer base with a range of products for PHEV and BEV platforms and supplies electric car manufacturers, including Rivian and a US based major EV OEM.

 

The Group currently supplies component part types to over 57 different models for 22 OEMs. Since its formation, the Group has been one of the very few new entrants to the market, which is characterised by high barriers to entry.

 

The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014: 

1

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

Simon Phillips

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

CT Automotive Group plc

(b)

LEI

213800RP7B4UJ1DDKY67

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

Identification code

Options over Ordinary shares of £0.005 pence each

ISIN GB00BMHYGR77

 

(b)

Nature of the transaction

Award of options pursuant to CT Automotive Group plc 2022 Long Term Incentive Plan

(c)

Price(s) and volume(s)



Price(s)

Volume(s)

 

 

NIL

213,592

(d)

Aggregated information

-         Aggregated volume

-         Price

N/A

(e)

Date of the transaction

30 October 2024

(f)

Place of the transaction

Outside a trading venue

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

Salman Mohammed

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

CT Automotive Group plc

(b)

LEI

213800RP7B4UJ1DDKY67

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

Identification code

Options over Ordinary shares of £0.005 pence each

ISIN GB00BMHYGR77

 

(b)

Nature of the transaction

Award of options pursuant to CT Automotive Group plc 2022 Long Term Incentive Plan

(c)

Price(s) and volume(s)



Price(s)

Volume(s)

 

 

NIL

38,835

(d)

Aggregated information

-         Aggregated volume

-         Price

N/A

(e)

Date of the transaction

30 October 2024

(f)

Place of the transaction

Outside a trading venue

 



[1] 427,184 LTIP Awards which carry earnings per share performance criteria for 3 year period ending FY2026 and 233,010 LTIP awards which carry no additional performance conditions.

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