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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 | 0.49% | 1,226.00 | 1,224.00 | 1,232.00 | 1,234.00 | 1,220.00 | 1,220.00 | 2,756 | 10:07:41 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Rubber,plastics Hose & Belts | 243.8M | -19.4M | -0.6253 | -19.51 | 378.48M |
From May 2019 to May 2024
TIDMAVON
RNS Number : 1283K
Avon Rubber PLC
11 December 2018
11 December 2018
Avon Rubber p.l.c. ("the Company")
Directors' and PDMRs' Interest in Shares
As disclosed in the 2018 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 2015 ('the 2015 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 2015 and ended on 30 September 2018. 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 2015 and the year ended 30 September 2018. The Company's EPS performance was measured by reference to the EPS in the 2015 and 2018 year end results.
The Remuneration Committee confirmed on 29 November 2018 that 84% of the 2015 Awards would vest.
The Company received valid exercise notices from the Participants in respect of the 2015 Awards. As a result, on 5 December 2018, 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 2015 Awards and for personal reasons. Leon Klapwijk and James Wilcox acquired whole shares pursuant to their 2015 Awards and sold a number of shares to meet tax and National Insurance/US social security liabilities.
The table below sets out the total number of shares over which the 2015 Awards were made to Executive Directors and PDMRs and total disposals:
Hot Features
Premium
Total Vested Whole shares Whole shares
Award* acquired under disposed
nil cost option
Executive Director
Paul McDonald 9,178 8,688 5,603
------------- ----------------- -------------
PDMRs
Miles Ingrey-Counter 8,558 8,101 8,101
------------- ----------------- -------------
Craig Sage 3,466 3,281 2,412
------------- ----------------- -------------
Leon Klapwijk 5,140 5,140 2,416
------------- ----------------- -------------
James Wilcox 3,884 3,884 1,290
------------- ----------------- -------------
*84% of the total number of the 2015 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 5 December 2018, following the vesting of the 2015 Awards. The proceeds due to the executives on sale of the jointly owned shares were determined by the 2015 Joint Ownership Agreements as GBP0.56 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 2015 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 / status 1) Chief Executive Officer
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 of Ordinary GBP1 shares in Avon Rubber
the p.l.c.
financial instrument
and ISIN Code GB0000667013
------------------------- -----------------------------------------
b) Nature of the Disposal of interests in jointly
transaction owned shares pursuant to the vesting
of 2015 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 12.725* 1) 9,178
2) GBP 12.725* 2) 8,558
3) GBP 12.725* 3) 3,466
---------------
*of which GBP0.56 per jointly owned
share was payable to the PDMRs.
------------------------- -----------------------------------------
d) Aggregated Information
1)
* Aggregated volume 9,178
GBP 12.725
GBP 116,790.05
* Aggregated price
8,558
GBP 12.725
* Aggregated total GBP 108,900.55
3,466
2) GBP 12.725
* Aggregated volume GBP 44,104.85
* Aggregated price
* Aggregated total
3)
* Aggregated volume
* Aggregated price
* Aggregated total
------------------------- -----------------------------------------
e) Date of the All occurred on 2018-12-05
transactions
------------------------- -----------------------------------------
f) Place of the London Stock Exchange (XLON)
transaction
------------------------- -----------------------------------------
2. Acquisition of shares pursuant to the vesting of 2015 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
5) James Wilcox
------------------------- -----------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position / status 1) Chief Executive Officer
2) Company Secretary
3) Divisional Head - Dairy
4) Divisional Head - Protection
5) Divisional Head - Military
------------------------- -----------------------------------------------
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 of Ordinary GBP1 shares in Avon Rubber
the p.l.c.
financial instrument
and ISIN Code GB0000667013
------------------------- -----------------------------------------------
b) Nature of the Shares acquired on the exercise of
transaction nil cost options and conditional awards
pursuant to the vesting of 2015 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) 8,688
2) GBP nil 2) 8,101
3) GBP nil 3) 3,281
4) GBP nil 4) 5,140
5) GBP nil 5) 3,884
---------------
------------------------- -----------------------------------------------
d) Aggregated Information
1)
* Aggregated volume 8,688
GBP nil
GBP nil
* Aggregated price
8,101
GBP nil
* Aggregated total GBP nil
3,281
2) GBP nil
* Aggregated volume GBP nil
5,140
* Aggregated price GBP nil
GBP nil
* Aggregated total 3,884
GBP nil
GBP nil
3)
* Aggregated volume
* Aggregated price
* Aggregated total
4)
* Aggregated volume
* Aggregated price
* Aggregated total
5)
* Aggregated volume
* Aggregated price
* Aggregated total
------------------------- -----------------------------------------------
e) Date of the All occurred on 2018-12-05
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 2015 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
5) James Wilcox
------------------------- ------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position / status 1) Chief Executive Officer
2) Company Secretary
3) Divisional Head - Dairy
4) Divisional Head - Protection
5) Divisional Head - Military
------------------------- ------------------------------------------
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 of Ordinary GBP1 shares in Avon Rubber
the p.l.c.
financial instrument
and ISIN Code GB0000667013
------------------------- ------------------------------------------
b) Nature of the Disposal of shares resulting from the
transaction exercise of nil cost options pursuant
to the vesting of 2015 Awards made
under the Avon Rubber p.l.c. Performance
Share Plan 2010 to pay tax, National
Insurance/US social security and in
some cases for personal reasons
------------------------- ------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 1) GBP 12.725 1) 5,603
2) GBP 12.725 2) 8,101
3) GBP 12.725 3) 2,142
4) GBP 12.725 4) 2,416
5) GBP 12.725 5) 1,290
---------------
------------------------- ------------------------------------------
d) Aggregated Information
1)
* Aggregated volume 5,603
GBP 12.725
GBP 71,298.17
* Aggregated price
8,101
GBP 12.725
* Aggregated total GBP 103,085.22
2,412
2) GBP 12.725
* Aggregated volume GBP 30,692.70
2,416
* Aggregated price GBP 12.725
GBP 30,743.60
* Aggregated total 1,290
GBP 12.725
GBP 16,415.25
3)
* Aggregated volume
* Aggregated price
* Aggregated total
4)
* Aggregated volume
* Aggregated price
* Aggregated total
5)
* Aggregated volume
* Aggregated price
* Aggregated total
------------------------- ------------------------------------------
e) Date of the All occurred on 2018-12-05
transactions
------------------------- ------------------------------------------
f) Place of the London Stock Exchange (XLON)
transaction
------------------------- ------------------------------------------
The Company also announces a supplemental conditional award over 7,465 shares granted under the 2010 Performance Share Plan ('PSP Award') to James Wilcox, who became a person discharging managerial responsibility (PDMR) in April 2018.
The PSP Award is subject to performance criteria and the performance period applicable is 1 October 2017 to 30 September 2020.
The number of shares placed under award and the start price against which the Total Shareholder Return performance target will be measured over the 3 year performance period is the average price of the Company's shares over the 5 days following announcement of the Company's annual results for the year ended 30 September 2017, which was GBP11.32. The awards are also subject to an earnings per share performance target. Full details of the PSP scheme are disclosed in the Company's Remuneration Report.
1 Details of person discharging managerial responsibilities/person
closely associated
b) Name James Wilcox
------------------------- -----------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
c) Position / status Divisional Head - Military
------------------------- -----------------------------------------
d) Initial notification Initial notification
/
amendment
------------------------- -----------------------------------------
3 Details of the issuer, emission allowance market
participant, auction platform, auctioneer or auction
monitor
--------------------------------------------------------------------
c) Name Avon Rubber p.l.c.
------------------------- -----------------------------------------
d) 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
--------------------------------------------------------------------
g) Description of Ordinary GBP1 shares in Avon Rubber
the p.l.c.
financial instrument
and ISIN Code GB0000667013
------------------------- -----------------------------------------
h) Nature of the Grant of conditional right to acquire
transaction shares subject to performance criteria,
measured over a three year performance
period, under the Company's Performance
Share Plan.
------------------------- -----------------------------------------
i) Price(s) and Price(s) Volume(s)
volume(s) NIL 7,465
-----------------
------------------------- -----------------------------------------
j) Aggregated Information
1)
* Aggregated volume 7,465 shares
NIL
NIL
* Aggregated price
* Aggregated total
------------------------- -----------------------------------------
k) Date of the 2018-12-11
transactions
------------------------- -----------------------------------------
l) Place of the Outside a trading venue
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
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
DSHUAVARWRAUAAA
(END) Dow Jones Newswires
December 11, 2018 07:00 ET (12:00 GMT)
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