Mpac Group PLC Grant of Options
09 April 2024 - 2:12PM
RNS Regulatory News
RNS Number : 8934J
Mpac Group PLC
09 April 2024
9 April 2024
Mpac Group
plc
(the
"Company" or the "Group")
Grant of
Options
Director/PDMR
Transaction
The Company announces that, on 9
April 2024, it awarded a total of 224,197 options to subscribe for
new ordinary shares in the Company under the Mpac Group plc Long
Term Incentive Plan ("LTIP") 2019 to certain of the Company's
Directors/PDMRs in the amounts set out below (the "LTIP
Options").
|
Director/PDMR
|
Number of LTIP
Options
|
|
Adam Holland, Chief Executive
Officer
|
123,711
|
|
Will Wilkins, Group Finance
Director
|
56,357
|
|
Mike Brown, Regional Director
Americas
|
23,576
|
|
Adam Ward, Regional Director
EMEA
|
20,553
|
A further amount of 79,321 LTIP
options were awarded to members of the senior management
team.
The LTIP Options have vesting
conditions tied to cumulative Earnings Per Share (EPS) and
Operating Return On Sales (ROS), with each award split 70% EPS and
30% ROS. Cumulative EPS has to exceed 150p over the performance
period to vest in full. Vesting is reduced to 40% on a pro-rata
basis if cumulative EPS is 125p over the performance period and is
reduced to nil if below 125p. Average ROS has to exceed 10% to vest
in full. Vesting is reduced to 40% on a pro-rata basis if average
ROS is 8.8% over the performance period and is reduced to nil if
below 8.8%.
The performance period will be 1
January 2024 to 31 December 2026 and, to the extent vested, the
options will be subject to a two-year holding period following the
expiry of the performance period for the Company's
Directors/PDMRs.
For
further information, please contact:
|
Mpac Group
plc
Tel: +44(0)24 7642 1100
Adam Holland, Chief
Executive
Will Wilkins, Group Finance
Director
|
|
|
Shore Capital (Nominated Adviser & Joint
Broker)
Advisory
Patrick Castle
Iain Sexton
Broking
Henry Willcocks
|
Tel: +44(0)20 7408 4050
|
|
Liberum (Joint Broker)
Edward Mansfield
Will King
Anake Singh
Hudson Sandler
Nick Lyon
Nick Moore
|
Tel: +44 (0) 20 3100 2000
Tel: +44 (0) 20 7796 4133
|
|
|
|
|
|
The
Company makes the following disclosures in accordance with article
19(3) of the Market Abuse Regulation:
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Adam Holland
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
PDMR - Chief Executive
Officer
|
|
b)
|
Initial notification
/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Mpac Group plc
|
|
b)
|
LEI
|
213800J3KUDYLRHHU562
|
|
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
|
Options for ordinary shares
exercisable at £0.25
GB0005991111
|
|
b)
|
Nature of the transaction
|
Grant of options under the Mpac
Group plc Long-Term Incentive Plan
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
n/a
|
123,711
|
|
|
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
n/a
|
|
e)
|
Date of the transaction
|
9 April 2024
|
|
f)
|
Place of the transaction
|
n/a
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Will Wilkins
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
PDMR - Group Finance
Director
|
|
b)
|
Initial notification
/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Mpac Group plc
|
|
b)
|
LEI
|
213800J3KUDYLRHHU562
|
|
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
|
Options for ordinary shares
exercisable at £0.25
GB0005991111
|
|
b)
|
Nature of the transaction
|
Grant of options under the Mpac
Group plc Long-Term Incentive Plan
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
n/a
|
56,357
|
|
|
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
n/a
|
|
e)
|
Date of the transaction
|
9 April 2024
|
|
f)
|
Place of the transaction
|
n/a
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Mike Brown
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
PDMR - Regional Director
Americas
|
|
b)
|
Initial notification
/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Mpac Group plc
|
|
b)
|
LEI
|
213800J3KUDYLRHHU562
|
|
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
|
Options for ordinary shares
exercisable at £0.25
GB0005991111
|
|
b)
|
Nature of the transaction
|
Grant of options under the Mpac
Group plc Long-Term Incentive Plan
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
n/a
|
23,576
|
|
|
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
n/a
|
|
e)
|
Date of the transaction
|
9 April 2024
|
|
f)
|
Place of the transaction
|
n/a
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Adam Ward
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
PDMR - Regional Director
EMEA
|
|
b)
|
Initial notification
/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Mpac Group plc
|
|
b)
|
LEI
|
213800J3KUDYLRHHU562
|
|
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
|
Options for ordinary shares
exercisable at £0.25
GB0005991111
|
|
b)
|
Nature of the transaction
|
Grant of options under the Mpac
Group plc Long-Term Incentive Plan
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
n/a
|
20,553
|
|
|
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
n/a
|
|
e)
|
Date of the transaction
|
9 April 2024
|
|
f)
|
Place of the transaction
|
n/a
|
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