Director/PDMR Shareholding - Replacement

Imperial Brands PLC

20 August 2024

 

The following amendment has been made to the 'Director/PDMR Shareholding' announcement released on 19 August 2024 at 17:09 under RNS No: 9870A.

The number of shares vesting on 2 October 2024 was incorrectly shown as 4,622. The correct number of shares vesting on that date is 4,816. The total number granted under the Recruitment Award is therefore 56,410 shares, not 56,216 shares as shown.

All other details remain unchanged. The full amended text is shown below.

19 August 2024

IMPERIAL BRANDS PLC

 (THE "COMPANY")

Legal Entity Identifier (LEI) No. 549300DFVPOB67JL3A42

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

Recruitment Award

On 15 August 2024, the Company's new President, Africa, Asia, Australasia, and Central & Eastern Europe (AAACE) Region, Priyali Kamath, was granted a nil-cost conditional award (the "Recruitment Award") over ordinary shares of 10 pence each in the Company ("Shares"). The Recruitment Award has been granted over 56,410 shares.

The Recruitment Award has been granted in order to facilitate Priyali's recruitment, and to replace certain share awards granted to her by her former employer and which she forfeited on joining the Company.

In order to replicate the terms of Priyali's forfeited awards, the Recruitment Award is split into tranches, as follows:

Number of Shares	Expected Vesting Date
5,539	13 September 2024
5,583	15 September 2025
1,180	15 September 2026
3,821	15 September 2027
9,760	1 October 2024
10,648	1 October 2025
4,156	1 October 2026
8,018	1 October 2027
4,816	2 October 2024*
2,185	2 October 2025*
704	2 October 2026*

* Dividend Equivalents accrue on these awards.

The vesting of the Recruitment Award (and each tranche thereof) is subject to Priyali's continued service with the Company.

1.	Details of the person discharging managerial responsibilities/ person closely associated
a)	Name	PRIYALI KAMATH
2.	Reason for the notification
a)	Position/status	PDMR - PRESIDENT, AFRICA, ASIA, AUSTRALASIA, AND CENTRAL & EASTERN EUROPE (AAACE) REGION
b)	Initial notification/ Amendment	INITIAL NOTIFICATION
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	IMPERIAL BRANDS PLC
b)	LEI	549300DFVPOB67JL3A42
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	ORDINARY SHARES
	Identification code	GB0004544929
b)	Nature of the transaction	GRANT OF LTIP AWARDS, VESTING IN 11 TRANCHES BETWEEN 2024 AND 2027.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 56,410
d)	Aggregated information	Aggregate Price Aggregate Volume Nil 56,410
e)	Date of the transaction	15 August 2024
f)	Place of the transaction	OUTSIDE A TRADING VENUE

Grant of Long Term Incentive Plan Awards

Also on 15 August 2024, the Company made the following grant of awards under the Imperial Brands Long Term Incentive Plan (the "LTIP") to PDMRs:

PDMR	No. of shares under LTIP award granted (the "LTIP GRANT")
Deborah Binks-Moore	35,232
Priyali Kamath	31,878

Further to its 2023 Annual Report and Accounts, the Company confirms that the performance measures and targets (which should not be construed as guidance) in respect of the Imperial Brands LTIP Grant made on 15 August 2024 are:

	Weight	Cut-in	Target	Max
EPS Growth	40%	3.9%	4.8%	5.8%
ROIC	15%	19.1%	21.1%	21.9%
CFCF (£m)	15%	5,900	6,700	7,500
Relative TSR	20%	Median	N/A	Upper quart.
Scope 1 & 2 carbon emissions	5%	70.0%	72.0%	75.0%
Energy consumption	5%	4.5%	6.0%	7.5%

Each element operates independently and is capable of vesting regardless of the Company's performance in respect of the other elements. The Remuneration Committee retains the discretion under the rules of the LTIP to adjust up or down including to zero the number of shares that vest taking into account a number of factors including personal or corporate performance and circumstances that were unforeseen at the date of grant.

Details of individual awards are provided below:

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	DEBORAH BINKS-MOORE
2	Reason for the notification
a)	Position/status	PDMR - CHIEF CORPORATE AFFAIRS OFFICER
b)	Initial notification /Amendment	INITIAL NOTIFICATION
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	IMPERIAL BRANDS PLC
b)	LEI	549300DFVPOB67JL3A42
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 GB0004544929
b)	Nature of the transaction	AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN
c)	Price(s) and volume(s)	Price(s) Volume(s) NOT APPLICABLE 35,232
d)	Aggregated information - Aggregated volume - Price	35,232 NOT APPLICABLE
e)	Date of the transaction	15 AUGUST 2024
f)	Place of the transaction	OUTSIDE A TRADING VENUE

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	PRIYALI KAMATH
2	Reason for the notification
a)	Position/status	PDMR - PRESIDENT, AFRICA, ASIA, AUSTRALASIA, AND CENTRAL & EASTERN EUROPE (AAACE) REGION
b)	Initial notification /Amendment	INITIAL NOTIFICATION
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	IMPERIAL BRANDS PLC
b)	LEI	549300DFVPOB67JL3A42
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 GB0004544929
b)	Nature of the transaction	AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN
c)	Price(s) and volume(s)	Price(s) Volume(s) NOT APPLICABLE 31,878
d)	Aggregated information - Aggregated volume - Price	31,878 NOT APPLICABLE
e)	Date of the transaction	15 AUGUST 2024
f)	Place of the transaction	OUTSIDE A TRADING VENUE

Chris Winters

Deputy Company Secretary

Copies of our announcements are available on our website: 

https://www.imperialbrandsplc.com/creating-shareholder-value/stock-exchange-announcements

 

END