discoverIE Group plc Director / PDMR Shareholding (0660E)

TIDMDSCV

RNS Number : 0660E

discoverIE Group plc

27 June 2023

27 June 2023

discoverIE Group plc

Director / PDMR Shareholding

Deferred Bonus Awards

discoverIE Group plc (LSE: DSCV, "discoverIE" or the "Company"), a leading international designer and manufacturer of customised electronics for industrial applications, announces that it was notified today of the following transactions in ordinary shares of 5 pence each in the Company ("Ordinary Shares").

In accordance with the Directors' Remuneration Policy, Nick Jefferies, Group Chief Executive and Simon Gibbins, Group Finance Director, are subject to a deferral of 20% of any annual bonus payment into Ordinary Shares, which will be held in trust for a period of three years (the "Deferred Bonus Award"). Mr Jefferies and Mr Gibbins retain eligibility for dividends during the holding period.

7,179 and 3,915 Ordinary Shares were acquired on 26 June 2023 pursuant to the Deferred Bonus Award arrangement, relating to the annual bonuses for Mr Jefferies and Mr Gibbins, respectively, for the year ended 31 March 2023, each at a price of GBP8.45 per share.

Following these transactions, Mr Jefferies and Mr Gibbins are interested in a total of 1,264,370 and 402,153 Ordinary Shares, respectively, representing 1.32% and 0.42%, respectively, of the Company's issued share capital.

For further information, please contact:

 
Buchanan 
 Chris Lane, Toto Berger, Jack 
 Devoy 
 [e-mail]      020 7466 5000 
 

Notes to Editors :

About discoverIE Group plc

discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial applications.

The Group provides application-specific components to original equipment manufacturers ("OEMs") internationally through its two divisions, Magnetics & Controls, and Sensing & Connectivity. By designing components that meet customers' unique requirements, which are then manufactured and supplied throughout the life of their production, a high level of repeating revenue is generated with long-term customer relationships.

With a focus on sustainable key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, electrification of transportation, and industrial automation & connectivity, the Group aims to achieve organic growth that is well ahead of GDP and to supplement that with complementary acquisitions. The Group is committed to reducing the impact of its operations on the environment with an SBTi aligned plan to reach net zero. With its key markets aligned with a sustainable future, the Group has been awarded an ESG "A" rating by MSCI and is Regional (Europe) Top Rated by Sustainalytics.

The Group employs c.4,700 people across 20 countries with its principal operating units located in Continental Europe, the UK, China, Sri Lanka, India and North America.

discoverIE is listed on the Main Market of the London Stock Exchange and is a member of the FTSE250, classified within the Electrical Components and Equipment subsector.

The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                                  Nick Jefferies 
     ------------------------------------  --------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position / status                     Group Chief Executive 
     ------------------------------------  --------------------------------- 
 b)   Initial notification / amendment      Initial notification 
     ------------------------------------  --------------------------------- 
 3    Details of issuer 
     ----------------------------------------------------------------------- 
 a)   Name                                  discoverIE Group plc 
     ------------------------------------  --------------------------------- 
 b)   LEI                                   213800BMDLQU1VEEAN68 
     ------------------------------------  --------------------------------- 
 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          Ordinary shares in discoverIE 
       instrument, type of instrument        Group plc 
 
       Identification code 
                                             GB0000055888 
     ------------------------------------  --------------------------------- 
 b)   Nature of the transaction             Acquisition of shares pursuant 
                                             to deferred bonus arrangement 
     ------------------------------------  --------------------------------- 
 c)   Price(s) and volume(s)                  Price            Volume 
                                               845 pence per 
                                                share           7,179 
                                                               ------- 
     ------------------------------------  --------------------------------- 
 d)   Aggregated information                As above 
     ------------------------------------  --------------------------------- 
 e)   Date of the transaction               26 June 2023 
     ------------------------------------  --------------------------------- 
 f)   Place of the transaction              London Stock Exchange, Main 
                                             Market (XLON) 
     ------------------------------------  --------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                                  Simon Gibbins 
     ------------------------------------  --------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position / status                     Group Finance Director 
     ------------------------------------  --------------------------------- 
 b)   Initial notification / amendment      Initial notification 
     ------------------------------------  --------------------------------- 
 3    Details of issuer 
     ----------------------------------------------------------------------- 
 a)   Name                                  discoverIE Group plc 
     ------------------------------------  --------------------------------- 
 b)   LEI                                   213800BMDLQU1VEEAN68 
     ------------------------------------  --------------------------------- 
 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          Ordinary shares in discoverIE 
       instrument, type of instrument        Group plc 
 
       Identification code 
                                             GB0000055888 
     ------------------------------------  --------------------------------- 
 b)   Nature of the transaction             Acquisition of shares pursuant 
                                             to deferred bonus arrangement 
     ------------------------------------  --------------------------------- 
 c)   Price(s) and volume(s)                  Price            Volume 
                                               845 pence per 
                                                share           3,915 
                                                               ------- 
     ------------------------------------  --------------------------------- 
 d)   Aggregated information                As above 
     ------------------------------------  --------------------------------- 
 e)   Date of the transaction               26 June 2023 
     ------------------------------------  --------------------------------- 
 f)   Place of the transaction              London Stock Exchange, Main 
                                             Market (XLON) 
     ------------------------------------  --------------------------------- 
 

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June 27, 2023 05:53 ET (09:53 GMT)