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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Avon Protection Plc | LSE:AVON | London | Ordinary Share | GB0000667013 | ORD #1 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
6.00 | 0.56% | 1,082.00 | 1,080.00 | 1,084.00 | 1,084.00 | 1,074.00 | 1,076.00 | 33,062 | 16:35:26 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Rubber,plastics Hose & Belts | 280.5M | -14.4M | -0.4642 | -23.35 | 336.29M |
TIDMAVON
RNS Number : 0414Y
Avon Rubber PLC
30 November 2017
30 November 2017
Avon Rubber p.l.c. ("the Company")
Directors' and PDMRs' Interest in Shares
As disclosed in the 2017 annual report, awards representing 100% of the maximum possible award under the Avon Rubber p.l.c. Performance Share Plan 2010, were granted to Executive Directors, persons discharging managerial responsibilities ('PDMRs') and other employees (together 'Participants') on 1 December 2014 ('the 2014 Awards').
The Awards were made subject to performance conditions based on the Company's Total Shareholder Return ('TSR') and Earnings Per Share ('EPS'), to be measured over a 3 year performance period which commenced on 1 October 2014 and ended on 30 September 2017. The start and end point of the Company's TSR performance by reference to the comparator group was measured over the 5 days following the announcement of the Company's annual results for the year ended 30 September 2014 and the year ended 30 September 2017. The Company's EPS performance was measured by reference to the EPS in the 2014 and 2017 year end results.
The Remuneration Committee confirmed on 27 November 2017 that 99% of the Awards vested.
The Company received valid exercise notices from the Participants in respect of the 2014 Awards. As a result, on 28 November 2017, Paul McDonald, Miles Ingrey-Counter and Craig Sage, pursuant to the terms of the relevant joint ownership awards, sold their vested interests over all jointly owned shares in the market and exercised their nil cost options to acquire whole shares in the Company. Some of these shares were then sold to meet tax and National Insurance liabilities associated with the vesting of the 2014 Awards and for personal reasons. Leon Klapwijk acquired whole shares pursuant to his 2014 Award and sold a number of shares to meet tax and National Insurance liabilities.
The table below sets out the total number of shares over which the 2014 Awards were made to Executive Directors and PDMRs and total disposals:
Total Whole shares Whole Vested acquired shares Award* under nil disposed cost option Executive Director Paul McDonald 16,221 11,563 9,919 -------- ------------- ---------- PDMRs Miles Ingrey-Counter 15,125 10,782 7,925 -------- ------------- ---------- Craig Sage 6,005 4,281 3,146 -------- ------------- ---------- Leon Klapwijk 8,905 8,905 4,186 -------- ------------- ----------
*99% of the total number of the 2014 Awards. Paul McDonald, Miles Ingrey-Counter and Craig Sage held an interest in the number of shares shown in the above table which was sold, on 28 November 2017, following the vesting of the 2014 Awards. The proceeds due to the executives on sale of the jointly owned shares were determined by the 2014 Joint Ownership Agreements as GBP3.26 per share.
The following notification is intended to satisfy the Company's obligations under Article 19 of the Market Abuse Regulation.
Notification and public disclosure of transactions by PDMRs:
1. Disposal of interests in jointly owned shares pursuant to the vesting of 2014 Awards made under the Avon Rubber p.l.c. Performance Share Plan 2010
1 Details of person discharging managerial responsibilities/person closely associated a) Name 1) Paul McDonald 2) Miles Ingrey-Counter 3) Craig Sage ------------------------- ----------------------------------------- 2 Reason for the notification -------------------------------------------------------------------- a) Position / 1) Chief Executive Officer status 2) Company Secretary 3) Divisional Head - Dairy ------------------------- ----------------------------------------- b) Initial notification Initial notification / amendment ------------------------- ----------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor -------------------------------------------------------------------- a) Name Avon Rubber p.l.c. ------------------------- ----------------------------------------- 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 Ordinary GBP1 shares in of the Avon Rubber p.l.c. financial instrument GB0000667013 and ISIN Code ------------------------- ----------------------------------------- b) Nature of Disposal of interests in the jointly owned shares pursuant transaction to the vesting of 2014 Awards made under the Avon Rubber p.l.c. Performance Share Plan 2010 ------------------------- ----------------------------------------- c) Price(s) and Price(s) Volume(s) volume(s) 1) GBP 11.50* 1) 16,221 2) GBP 11.50* 2) 15,125 3) GBP 11.50* 3) 6,005 ---------------- *of which GBP3.26 per jointly owned share was payable to the PDMRs. ------------------------- ----------------------------------------- d) Aggregated Information 1) 16,221 * Aggregated volume GBP 11.50 GBP 186,541.50 * Aggregated price 15,125 GBP 11.50 GBP 173,937.50 * Aggregated total 6,005 GBP 11.50 2) GBP 69,057.50 * Aggregated volume * Aggregated price * Aggregated total 3) * Aggregated volume * Aggregated price * Aggregated total ------------------------- ----------------------------------------- e) Date of the All occurred on 2017-11-28 transactions ------------------------- ----------------------------------------- f) Place of the London Stock Exchange (XLON) transaction ------------------------- -----------------------------------------
2. Acquisition of shares pursuant to the vesting of 2014 Awards made under the Avon Rubber p.l.c. Performance Share Plan 2010
1 Details of person discharging managerial responsibilities/person closely associated a) Name 1) Paul McDonald 2) Miles Ingrey-Counter 3) Craig Sage 4) Leon Klapwijk ------------------------- -------------------------------------- 2 Reason for the notification ----------------------------------------------------------------- a) Position / 1) Chief Executive Officer status 2) Company Secretary 3) Divisional Head - Dairy 4) Divisional Head - Protection ------------------------- -------------------------------------- b) Initial notification Initial notification / amendment ------------------------- -------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ----------------------------------------------------------------- a) Name Avon Rubber p.l.c. ------------------------- -------------------------------------- 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 Ordinary GBP1 shares in Avon of the Rubber p.l.c. financial instrument and ISIN Code GB0000667013 ------------------------- -------------------------------------- b) Nature of the Shares acquired on the exercise transaction of nil cost options pursuant to the vesting of 2014 Awards made under the Avon Rubber p.l.c. Performance Share Plan 2010 ------------------------- -------------------------------------- c) Price(s) and Price(s) Volume(s) volume(s) 1) GBP nil 1) 11,563 2) GBP nil 2) 10,782 3) GBP nil 3) 4,281 4) GBP nil 4) 8,905 ---------------- ------------------------- -------------------------------------- d) Aggregated Information 1) 11,563 * Aggregated volume GBP nil GBP nil * Aggregated price 10,782 GBP nil GBP nil * Aggregated total 4,281 GBP nil 2) GBP nil * Aggregated volume 8,905 GBP nil * Aggregated price GBP nil * Aggregated total 3) * Aggregated volume * Aggregated price * Aggregated total 4) * Aggregated volume * Aggregated price * Aggregated total ------------------------- -------------------------------------- e) Date of the All occurred on 2017-11-28 transactions ------------------------- -------------------------------------- f) Place of the London Stock Exchange (XLON) transaction ------------------------- --------------------------------------
3. Disposal of shares resulting from the exercise of nil cost options pursuant to the vesting of 2014 Awards made under the Avon Rubber p.l.c. Performance Share Plan 2010
1 Details of person discharging managerial responsibilities/person closely associated a) Name 1) Paul McDonald 2) Miles Ingrey-Counter 3) Craig Sage 4) Leon Klapwijk ------------------------- --------------------------------------- 2 Reason for the notification ------------------------------------------------------------------ a) Position / 1) Chief Executive Officer status 2) Company Secretary 3) Divisional Head - Dairy 4) Divisional Head - Protection ------------------------- --------------------------------------- b) Initial notification Initial notification / amendment ------------------------- --------------------------------------- 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor ------------------------------------------------------------------ a) Name Avon Rubber p.l.c. ------------------------- --------------------------------------- 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 Ordinary GBP1 shares in Avon of the Rubber p.l.c. financial instrument and ISIN Code GB0000667013 ------------------------- --------------------------------------- b) Nature of the Disposal of shares resulting transaction from the exercise of nil cost options pursuant to the vesting of 2014 Awards made under the Avon Rubber p.l.c. Performance Share Plan 2010 to pay tax, National Insurance and in some cases for personal reasons ------------------------- --------------------------------------- c) Price(s) and Price(s) Volume(s) volume(s) 1) GBP 11.50 1) 9,919 2) GBP 11.50 2) 7,925 3) GBP 11.50 3) 3,146 4) GBP 11.50 4) 4,186 --------------- ------------------------- --------------------------------------- d) Aggregated Information 1) 9,919 * Aggregated volume GBP 11.50 GBP 114,068.50 * Aggregated price 7,925 GBP 11.50 GBP 91,137.50 * Aggregated total 3,146 GBP 11.50 2) GBP 36,179 * Aggregated volume 4,186 GBP 11.50 * Aggregated price GBP 48,139 * Aggregated total 3) * Aggregated volume * Aggregated price * Aggregated total 4) * Aggregated volume * Aggregated price * Aggregated total ------------------------- --------------------------------------- e) Date of the All occurred on 2017-11-28 transactions ------------------------- --------------------------------------- f) Place of the London Stock Exchange (XLON) transaction ------------------------- ---------------------------------------
LEI: 213800JM1AN62REBWA71
Classification: Transactions by PDMRs under article 19 of the Market Abuse Regulation.
Contact Information:
Avon Rubber p.l.c.
Miles Ingrey-Counter, Company Secretary 01225 896850 Weber Shandwick Financial Nick Oborne/Tom Jenkins 020 7067 0700
Note to editors:
Avon Rubber p.l.c. is an innovative technology group, specialising in respiratory protection systems and milking point solutions through our two businesses Avon Protection and milkrite | InterPuls. We design, test and manufacture specialist products and services to maximise the performance and capabilities of our customers.
Avon Protection is the recognised global leader in advanced Chemical, Biological, Radiological and Nuclear (CBRN) respiratory protection systems for the world's Military, Law Enforcement and Fire services.
milkrite | InterPuls is a global leader providing complete milking point solutions to customers across the world with the aim of improving every farm it touches.
For further information, please visit the Group's website: www.avon-rubber.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHURANRBNAAOAA
(END) Dow Jones Newswires
November 30, 2017 11:20 ET (16:20 GMT)
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