Director / PDMR Shareholding

RNS Number : 3468Q

discoverIE Group plc

27 June 2022

 

27 June 2022

discoverIE Group plc

Director / PDMR Shareholding

Deferred Bonus Awards

discoverIE Group plc (LSE: DSCV, "discoverIE" or the "Company"), a leading international designer and manufacturer of customised electronics for industrial applications, announces that it was notified today of the following transactions in ordinary shares of 5 pence each in the Company ("Ordinary Shares").

In accordance with the Directors' Remuneration Policy, Nick Jefferies, Group Chief Executive and Simon Gibbins, Group Finance Director, are subject to a deferral of 20% of any annual bonus payment (net of tax) into Ordinary Shares, which will be held in trust for a period of three years (the "Deferred Bonus Award").  Mr Jefferies and Mr Gibbins retain eligibility for dividends during the holding period.

12,064 and 6,677 Ordinary Shares were acquired on 24 June 2022 pursuant to the Deferred Bonus Award arrangement, relating to the annual bonuses for Mr Jefferies and Mr Gibbins, respectively, for the year ended 31 March 2022, each at a price of £6.25 per share.

Following these transactions, Mr Jefferies and Mr Gibbins are interested in a total of 1,257,191 and 398,238 Ordinary Shares, respectively, representing 1.32% and 0.42%, respectively, of the Company's issued share capital.

For further information, please contact:

Buchanan Chris Lane, Toto Berger, Jack Devoy [e-mail]

020 7466 5000

Notes to Editors :

discoverIE Group plc is an international group of businesses that designs and manufactures innovative electronic components for industrial applications.

The Group provides application-specific components to original equipment manufacturers ("OEMs") internationally through its two divisions, Magnetics & Controls, and Sensing & Connectivity. By designing components that meet customers' unique requirements, which are then manufactured and supplied throughout the life of their production, a high level of repeating revenue is generated with long term customer relationships.

With a focus on sustainable key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, electrification of transportation and industrial automation & connectivity, the Group aims to achieve organic growth that is well ahead of GDP and to supplement that with complementary acquisitions. The Group has an ongoing commitment to reducing the impact of its operations on the environment and with its key markets aligned with a sustainable future, MSCI has awarded the Group an ESG "A" rating.

The Group employs c.4,900 people across 20 countries with its principal operating units located in Continental Europe, the UK, China, Sri Lanka, India and North America.

discoverIE is listed on the Main Market of the London Stock Exchange and is a member of the FTSE250, classified within the Electrical Components and Equipment subsector.

The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Nick Jefferies
2	Reason for the notification
a)	Position / status	Group Chief Executive
b)	Initial notification / amendment	Initial notification
3	Details of issuer
a)	Name	discoverIE Group plc
b)	LEI	213800BMDLQU1VEEAN68
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	Ordinary shares in discoverIE Group plc GB0000055888
b)	Nature of the transaction	Acquisition of shares pursuant to deferred bonus arrangement
c)	Price(s) and volume(s)	Price Volume 625 pence per share 12,064
d)	Aggregated information	As above
e)	Date of the transaction	24 June 2022
f)	Place of the transaction	London Stock Exchange, Main Market (XLON)

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Simon Gibbins
2	Reason for the notification
a)	Position / status	Group Finance Director
b)	Initial notification / amendment	Initial notification
3	Details of issuer
a)	Name	discoverIE Group plc
b)	LEI	213800BMDLQU1VEEAN68
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	Ordinary shares in discoverIE Group plc GB0000055888
b)	Nature of the transaction	Acquisition of shares pursuant to deferred bonus arrangement
c)	Price(s) and volume(s)	Price Volume 625 pence per share 6,677
d)	Aggregated information	As above
e)	Date of the transaction	24 June 2022
f)	Place of the transaction	London Stock Exchange, Main Market (XLON)

 

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