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AVON Avon Protection Plc

1,082.00
6.00 (0.56%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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

Avon Rubber PLC Director/PDMR Shareholding (0414Y)

30/11/2017 4:20pm

UK Regulatory


Avon Protection (LSE:AVON)
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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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