Director/PDMR Shareholding

Tyman PLC

24 April 2024

 

TYMAN PLC

("Tyman" or the "Company" or the "Group")

DIRECTOR/PDMR SHAREHOLDINGS

Tyman plc announces that it has been notified of the following transactions in the Company's ordinary 5p shares ("Shares") undertaken by an Executive Director and PDMR, Jason Ashton, CFO.

DEFERRED SHARE BONUS PLAN (THE "DSBP")

On 23 April 2024, following the end of a closed period, the Company's Remuneration Committee granted the following nil-cost option over Shares (the "2023 Award") to Jason Ashton, an Executive Director of the Company, under the terms of the Company's DSBP 2023 (as part of the annual bonuses for the year ended 31 December 2023). Under the terms of the DSBP, 50% of the bonuses of Executive Directors, which would otherwise have been payable in cash, are delivered in the form of nil-cost option.

Executive Director	Number of Ordinary Shares subject to the DSBP award1
Jason Ashton	82,908

¹As customary for Tyman, the number of Shares were calculated by reference to the 5-day average closing price prior to the date that shares were awarded (5 trading days ended 13^th March 2024) of £2.861.

This 2023 Award would normally vest (together with dividend equivalents in cash or Shares) following the publication of the Group's audited results for the year ending 31 December 2026, expected to be in March 2027. No consideration was paid for the 2023 Awards and no consideration is due to be payable on vesting.

Impact of the recommended offer for the Company

On 22 April 2024, the boards of Quanex Building Products Corporation ("Quanex") and Tyman announced (the "2.7 Announcement") that they reached agreement on the terms of a recommended cash and share offer, pursuant to which Quanex will acquire the entire issued and to be issued ordinary share capital of Tyman (the "Transaction"). In this section, all capitalised terms used shall have the same meaning as in the 2.7 Announcement, unless expressly defined otherwise.

Pursuant to the terms agreed by Quanex and Tyman, awards under the DSBP shall vest or become exercisable in full on the Effective Date. Awards under the DSBP will accrue, in the ordinary course, dividend equivalents that will be settled by Tyman in cash if they have not already been credited in Shares.

The following disclosure is made in accordance with Article 19 of EU Market Abuse Regulation No. 596/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.

1		Details of the persons discharging managerial responsibilities / person closely associated
a)		Names	i.          JASON ASHTON
2		Reason for the notification: GRANT OF OPTIONS
a)		Position/status	i.          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	TYMAN PLC
b)		LEI	213800AAFUV5PKGQU848
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	ORDINARY SHARES OF 5P EACH
		Identification code	ISIN NUMBER:GB00B29H4253
b)		Nature of the transaction	A.   GRANT OF DSBP SHARES.
c)		Prices (s) and volume(s)		Price	Volume
				Nil	82, 908
d)		Aggregated information
		- Aggregated volume	·      82,908
		- Price	·      Nil
e)		Date of the transaction	23 April 2024
f)		Place of the transaction	LONDON STOCK EXCHANGE
	24 April 2024 Enquiries:
	Tyman plc				020 7976 8000
	Peter Ho - General Counsel & Company Secretary				www.tymanplc.com

 

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