Director/PDMR Shareholding

RNS Number : 3590G

TI Fluid Systems PLC

23 July 2021

 

23 July 2021

TI Fluid Systems plc

(the "Company")

Notification of transaction of Directors/ Persons Discharging Managerial Responsibilities ("PDMR")

Grant of Awards under the Company's Long Term Incentive Plan (the "Plan")

The Company announces that on 17 March 2021 awards of contingent rights to receive shares of the Company have been made to certain directors and PDMRs under the Plan.

The awards were made at no cost to the individual and will vest, subject to the rules of the Plan, based on the Company's performance during the three-year period of 2021-2024 against three measures relating to (i) adjusted cumulative free cash flow (governing 60% of the awards), (ii) strategic ESG target (governing 20% of the awards) and (iii) relative adjusted total shareholder return against the FTSE 250 (governing 20% of the awards).

The per share price used for the purposes of calculating the maximum number of shares subject to these awards was  £2.8315 , being the closing price on the London Stock Exchange on 16 March 2021, the date the Company announced its results for the 12 months ended 31 December 2020.

The following notifications are made in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation.

Enquiries:
TI Fluid Systems plc	[phone]
Matthew Paroly
Company Secretary
FTI Consulting	[phone]
Richard Mountain
Nick Hasell

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	William L. Kozyra
2	Reason for the notification
a)	Position/status	Chief Executive Officer and President
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	TI Fluid Systems plc
b)	LEI	5493001T9RXVD6OAWY46
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 of TI Fluid Systems plc of £0.01 each GB00BYQB9V88
b)	Nature of the transaction	Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration.
c)	Price(s) and volume(s)	Price(s) Volume(s) £2.8315 per share 1,145,310 Ordinary Shares
d)	Aggregated information  - Aggregated volume - Price	N/A
e)	Date of the transaction	17 March 2021
f)	Place of the transaction	XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ronald Hundzinski
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	TI Fluid Systems plc
b)	LEI	5493001T9RXVD6OAWY46
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 of TI Fluid Systems plc of £0.01 each GB00BYQB9V88
b)	Nature of the transaction	Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration.
c)	Price(s) and volume(s)	Price(s) Volume(s) £2.8315 per share 476,551 Ordinary Shares
d)	Aggregated information  - Aggregated volume - Price	N/A
e)	Date of the transaction	17 March 2021
f)	Place of the transaction	XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Hans Dieltjens
2	Reason for the notification
a)	Position/status	Chief Operating Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	TI Fluid Systems plc
b)	LEI	5493001T9RXVD6OAWY46
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 of TI Fluid Systems plc of £0.01 each GB00BYQB9V88
b)	Nature of the transaction	Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration.
c)	Price(s) and volume(s)	Price(s) Volume(s) £2.8315 per share 764,046 Ordinary Shares
d)	Aggregated information  - Aggregated volume - Price	N/A
e)	Date of the transaction	17 March 2021
f)	Place of the transaction	XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stefan Rau
2	Reason for the notification
a)	Position/status	Executive Vice President - FCS
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	TI Fluid Systems plc
b)	LEI	5493001T9RXVD6OAWY46
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 of TI Fluid Systems plc of £0.01 each GB00BYQB9V88
b)	Nature of the transaction	Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration.
c)	Price(s) and volume(s)	Price(s) Volume(s) £2.8315 per share 243,722 Ordinary Shares
d)	Aggregated information  - Aggregated volume - Price	N/A
e)	Date of the transaction	17 March 2021
f)	Place of the transaction	XLON

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Steve Vercauteren
2	Reason for the notification
a)	Position/status	Executive Vice President - FTDS
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	TI Fluid Systems plc
b)	LEI	5493001T9RXVD6OAWY46
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 of TI Fluid Systems plc of £0.01 each GB00BYQB9V88
b)	Nature of the transaction	Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration.
c)	Price(s) and volume(s)	Price(s) Volume(s) £2.8315 per share 155,277 Ordinary Shares
d)	Aggregated information  - Aggregated volume - Price	N/A
e)	Date of the transaction	17 March 2021
f)	Place of the transaction	XLON

Enquiries:

TI Fluid Systems plc  [phone]
Matthew Paroly
Company Secretary

FTI Consulting  [phone]
Richard Mountain
Nick Hasell

 

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