Director/PDMR Shareholding

RNS Number : 4084T

TT Electronics PLC

17 March 2023

 

17 March 2023

TT Electronics plc

Deferred Share Bonus Plan

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS

TT Electronics Deferred Share Bonus Plan ("DSBP"): vesting of 2021 Awards and related sales.

On 16 March 2021, the Company announced that conditional awards of ordinary shares of 25p each in the Company ("Shares"), equal to 100 per cent of the 2020 short-term incentive award, had been granted under the DSBP to the Executive Directors of the Company, with 80 per cent of the deferred Shares vesting on the first anniversary of the award and the remaining 20 per cent of the deferred Shares on the second anniversary.  On 16 March 2023, 20 per cent of the deferred shares vested on the second anniversary of the conditional award of Shares described above.

The table below shows the number of related Shares acquired by the Executive Directors, the number of Shares sold to satisfy the tax and national insurance liabilities, and the number of Shares retained following the sales.

Executive Director	Shares Vested	Shares sold to satisfy tax and NI liabilities	Shares retained	Resultant beneficial interest in the Company's shares
Richard Tyson	21,011	9,876	11,135	1,017,8011
Mark Hoad	15,761	7,408	8,353	787,7992

¹ R Tyson's beneficial interest includes shares held by a PCA, Louise Tyson.

² M Hoad's beneficial interest includes shares held by a PCA, Tracy Hoad.

The Company makes this announcement, including the notifications below, in accordance with the requirements of the EU Market Abuse Regulation.

1.	Details of PDMR / person closely associated with them ('PCA')
a)	Name	1)  Richard Tyson 2)  Mark Hoad
2.	Reason for the notification
a)	Position / status	1)  CEO 2)  CFO
b)	Initial notification / Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	TT Electronics plc
b)	LEI	213800TJGBW5VFHQEV54
4.	Details of the transaction(s)
a)	Description of the financial instrument, type of instrument Identification Code	Ordinary shares of 25p each GB0008711763
b)	Nature of the transaction	Acquisition of ordinary shares arising in connection with the settlement of Deferred Share Bonus Plan award granted on 16 March 2021
c)	Price(s) and volume(s)	Price(s) Volume(s) 1)  £0.00 2)  £0.00 1)  21,011 2)  15,761
d)	Aggregated information Aggregated volume Price	36,772 £0.00
e)	Date of the transaction	2023-03-16
f)	Place of the transaction	Outside a trading venue

1.	Details of PDMR / person closely associated with them ('PCA')
a)	Name	1)  Richard Tyson 2)  Mark Hoad
2.	Reason for the notification
a)	Position / status	1)  CEO 2)  CFO
b)	Initial notification / amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	TT Electronics plc
b)	LEI	213800TJGBW5VFHQEV54
4.	Details of the transaction(s)
a)	Description of the financial instrument, type of instrument Identification Code	Ordinary shares of 25p each GB0008711763
b)	Nature of the transaction	Disposal of shares to satisfy tax and NI liabilities in respect of the settlement of Deferred Share Bonus Plan award granted on 16 March 2021
c)	Price(s) and volume(s)	Price(s) Volume(s) 1)  £1.782 2)  £1.782 1)  9,876 2)  7,408
d)	Aggregated information Aggregated volume Price	17,284 £1.782
e)	Date of the transaction	2023-03-16
f)	Place of the transaction	London Stock Exchange

For further information please contact:

TT Electronics plc

Richard Tyson, Chief Executive Officer:   Tel:  + 44 (0)1932 825300

Mark Hoad, Chief Financial Officer:

Kate Moy, Head of Investor Relations 

MHP Communications

Tim Rowntree / Ollie Hoare:  Tel:  [phone]

 

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