Avon Protection PLC Director/PDMR Shareholding
30 Januar 2024 - 2:00PM
RNS Regulatory News
RNS Number : 3982B
Avon Protection PLC
30 January 2024
Avon Protection plc
30 January 2024
NOTIFICATION OF PDMR DEALING
AVON
PROTECTION PLC
Notification and public disclosure
of transactions by persons discharging managerial responsibilities
and persons closely associated with them in accordance with the
Market Abuse Regulations.
One-off share matching awards under the LTIP
On 26 January 2024 the
following nil cost option awards over ordinary shares
of £1 each in Avon Protection plc were granted under
the Avon Protection plc. Long Term Incentive Plan ('LTIP') to
the following persons discharging managerial
responsibilities:
|
PDMR
|
Position
|
No. of Shares under Award
|
|
Jos Sclater
|
Chief Executive Officer
|
234,715
|
|
Rich Cashin
|
Chief Financial Officer
|
159,903
|
The awards implement the one-off
share matching arrangement element of the Directors' Remuneration
Policy detailed in the Company's latest Annual Report and Accounts.
The resolution approving the Directors' Remuneration Policy was
approved by shareholders at the Annual General Meeting held on 26
January 2024 with 97.45% of proxy votes lodged in
favour.
In order to be eligible to receive
the awards the CEO and CFO designated 72,230 and 46,969 of their
previously purchased personal shares in the Company respectively as
'investment shares' for the purposes of the awards.
The awards have associated normal vesting dates of the third anniversary
of their grant in respect of two-thirds of each award, and the
fourth anniversary of their grant date in respect of the balance of
each award. The respective parts of each award will ordinarily
become exercisable subject to the grantee's continued service
through to the relevant normal vesting date and to the extent that
the awards' performance conditions are met.
The performance conditions attached
to the awards relate to earnings per share and return on invested
capital targets set for the Company financial year ending 30
September 2026. Full details of the performance conditions are set
out in the Directors' Remuneration Policy.
A post vesting holding period (net
of sales for tax) will ordinarily apply in relation to the awards
through until the fifth anniversary of the grant of the
awards.
The information set out below is
provided in accordance with the requirements of Article 19(3) of
the Market Abuse Regulation (EU) No 596/2014.
Details of the full notifications
received by the Company are set out below.
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Jos Sclater
|
|
2
|
Reason for Notification
|
|
a)
|
Position/status
|
Chief Executive Officer
|
|
b)
|
Initial
notification/Amendment
|
Initial Announcement
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Avon Protection plc
|
|
b)
|
LEI
|
213800JM1AN62REBWA71
|
|
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 £1 each in Avon
Protection plc
GB0000667013
|
|
b)
|
Nature of the transaction
|
Grant of a nil cost option award
under the Avon Protection plc Long Term Incentive Plan to implement
the one-off share matching arrangement
element of the Directors' Remuneration Policy detailed in in the
Company's latest Annual Report and Accounts
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Nil
|
234,715
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A
Nil
|
|
e)
|
Date of the transaction
|
26 January 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Rich Cashin
|
|
2
|
Reason for Notification
|
|
a)
|
Position/status
|
Chief Financial Officer
|
|
b)
|
Initial
notification/Amendment
|
Initial Announcement
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Avon Protection plc
|
|
b)
|
LEI
|
213800JM1AN62REBWA71
|
|
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 £1 each in Avon
Protection plc
GB0000667013
|
|
b)
|
Nature of the transaction
|
Grant of a nil cost option award
under the Avon Protection plc Long Term Incentive Plan to implement
the one-off share matching arrangement
element of the Directors' Remuneration Policy detailed in in the
Company's latest Annual Report and Accounts
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Nil
|
159,903
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A
Nil
|
|
e)
|
Date of the transaction
|
26 January 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
Enquiries:
Avon
Protection plc
Miles Ingrey-Counter, Company
Secretary
01225 896
850
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