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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 | |
---|---|---|---|---|---|---|---|---|---|---|
32.00 | 2.74% | 1,200.00 | 1,194.00 | 1,202.00 | 1,206.00 | 1,170.00 | 1,170.00 | 8,234 | 09:32:08 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Rubber,plastics Hose & Belts | 280.5M | -14.4M | -0.4642 | -25.98 | 374.14M |
TIDMAVON
RNS Number : 9194N
Avon Rubber PLC
03 February 2021
Avon Rubber PLC
3 February 2021
NOTIFICATION DEALING WITH GRANT OF AWARDS UNDER THE LTIP
AVON RUBBER P.L.C.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.
On 2 February 2021 the following awards over ordinary shares of GBP1 each in Avon Rubber p.l.c. were granted under the Avon Rubber p.l.c. Long Term Incentive Plan ('LTIP') to the following person(s) discharging managerial responsibilities:
PDMR Position Country No. of shares under of residence Award Paul McDonald Chief Executive Officer UK 28,153 =========================== ============== ==================== Nick Keveth Chief Financial Officer UK 19,707 =========================== ============== ==================== Miles Ingrey-Counter Company Secretary UK 6,918 =========================== ============== ==================== James Wilcox President, Military US 6,458 =========================== ============== ==================== David Mack President, First Responder US 5,950 =========================== ============== ==================== Keyana Hughes President, Operations US 5,871 =========================== ============== ==================== Jose Rizo-Patron President, Team Wendy US 6,458 =========================== ============== ====================
The awards were granted as a nil cost option for the three UK resident PDMRs and conditional awards for the PDMRs who are resident in the US. The nil cost option awards will ordinarily become exercisable and the conditional awards will ordinarily vest on 1 December 2023, subject to the grantee's continued service and the Remuneration Committee's assessment of the extent to which the performance conditions applicable to the awards are satisfied.
Each award is subject to two performance conditions (each applicable to a distinct 50% of an award) measured over a performance period of three financial years, starting with the 2021 financial year.
The first performance condition compares the Company's total shareholder return ("TSR") performance over the performance period relative to a comparator group. The comparator group for the TSR element is the constituents of the FTSE 250 Index (excluding investment trusts) as at the start of the performance period. No portion of the TSR element may vest unless the Company's TSR performance over the performance period at least equals the median TSR performance within the comparator group, for which 20% of the TSR element may vest, rising on a straight-line basis to full vesting of the TSR element for upper quintile or better relative TSR performance.
The second performance condition measures the Company's compound annual growth rate ("CAGR") in the Company's adjusted basic earnings per share ("EPS") over the performance period. No portion of the EPS element may vest unless the CAGR in EPS over the performance period at least equals 5%p.a., for which 0% of the EPS element may vest, rising on a straight-line basis to full vesting of the EPS element for CAGR in EPS over the performance period of 14%p.a. or better. The base point for such CAGR calculation shall be the reported EPS for the 2020 financial year but with the full year 2020 earnings of the disposed milkrite | InterPuls business added back.
The EPS element of the awards is subject to a return on capital employed underpin in respect of which the Remuneration Committee retains discretion to reduce the extent of vesting of the EPS element by regard to the Company's ROCE performance over the performance period.
The Remuneration Committee also retains a general discretion to reduce the extent of vesting of the awards generally if it considers that the underlying business performance of the Company does not justify vesting.
Fuller details of the performance conditions applicable to the awards will be set out in the Company's Directors' Remuneration Report for the year ending 30 September 2021.
In addition, the Company has granted Keyana Hughes an additional 2,638 shares as part of the Company's 2020 LTIP awards as a result of her promotion to President of Operations part way through the 2020 financial year. These awards were granted as conditional awards and will ordinarily vest on 1 December 2022, subject to continued service and the Remuneration Committee's assessment of the extent to which the performance conditions applicable to the awards are satisfied. Fuller details of the performance conditions applicable to these awards were set out in the Company's Directors' Remuneration Report for the year ending 30 September 2019.
The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.
Details of the full notifications received by the Company are set out below.
1 Details of the person discharging managerial responsibilities / person closely associated a) Name Paul McDonald ------------------------------- -------------------------------------------- 2 Reason for Notification ----------------------------------------------------------------------------- a) Position/status Chief Executive Officer ------------------------------- -------------------------------------------- b) Initial notification/Amendment Initial Announcement ------------------------------- -------------------------------------------- 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 the financial Ordinary Shares of GBP1 each in Avon instrument, type of Rubber p.l.c. instrument GB0000667013 Identification code ------------------------------- -------------------------------------------- b) Nature of the transaction Grant of a nil cost option award under the Avon Rubber p.l.c. Long Term Incentive Plan. ------------------------------- -------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s) Nil 28,153 ---------- ------------------------------- -------------------------------------------- d) Aggregated information Not applicable - single transaction * Aggregated volume * Price ------------------------------- -------------------------------------------- e) Date of the transaction 2 February 2021 ------------------------------- -------------------------------------------- f) Place of the transaction Outside a trading venue ------------------------------- -------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Nick Keveth ------------------------------- -------------------------------------------- 2 Reason for Notification ----------------------------------------------------------------------------- a) Position/status Chief Financial Officer ------------------------------- -------------------------------------------- b) Initial notification/Amendment Initial Announcement ------------------------------- -------------------------------------------- 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 the financial Ordinary Shares of GBP1 each in Avon instrument, type of Rubber p.l.c. instrument GB0000667013 Identification code ------------------------------- --------------------------------------------
b) Nature of the transaction Grant of a nil cost option award under the Avon Rubber p.l.c. Long Term Incentive Plan. ------------------------------- -------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s) Nil 19,707 ---------- ------------------------------- -------------------------------------------- d) Aggregated information Not applicable - single transaction * Aggregated volume * Price ------------------------------- -------------------------------------------- e) Date of the transaction 2 February 2021 ------------------------------- -------------------------------------------- f) Place of the transaction Outside a trading venue ------------------------------- -------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Miles Ingrey-Counter ------------------------------- -------------------------------------------- 2 Reason for Notification ----------------------------------------------------------------------------- a) Position/status Company Secretary ------------------------------- -------------------------------------------- b) Initial notification/Amendment Initial Announcement ------------------------------- -------------------------------------------- 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 the financial Ordinary Shares of GBP1 each in Avon instrument, type of Rubber p.l.c. instrument GB0000667013 Identification code ------------------------------- -------------------------------------------- b) Nature of the transaction Grant of a nil cost option award under the Avon Rubber p.l.c. Long Term Incentive Plan. ------------------------------- -------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s) Nil 6,918 ---------- ------------------------------- -------------------------------------------- d) Aggregated information Not applicable - single transaction * Aggregated volume * Price ------------------------------- -------------------------------------------- e) Date of the transaction 2 February 2021 ------------------------------- -------------------------------------------- f) Place of the transaction Outside a trading venue ------------------------------- -------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name James Wilcox ------------------------------- -------------------------------------------- 2 Reason for Notification ----------------------------------------------------------------------------- a) Position/status President, Military ------------------------------- -------------------------------------------- b) Initial notification/Amendment Initial Announcement ------------------------------- -------------------------------------------- 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 the financial Ordinary Shares of GBP1 each in Avon instrument, type of Rubber p.l.c. instrument GB0000667013 Identification code ------------------------------- -------------------------------------------- b) Nature of the transaction Grant of a conditional award under the Avon Rubber p.l.c. Long Term Incentive Plan. ------------------------------- -------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s) Nil 6,458 ---------- ------------------------------- -------------------------------------------- d) Aggregated information Not applicable - single transaction * Aggregated volume * Price ------------------------------- -------------------------------------------- e) Date of the transaction 2 February 2021 ------------------------------- -------------------------------------------- f) Place of the transaction Outside a trading venue ------------------------------- -------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name David Mack ------------------------------- -------------------------------------------- 2 Reason for Notification ----------------------------------------------------------------------------- a) Position/status President, First Responder ------------------------------- -------------------------------------------- b) Initial notification/Amendment Initial Announcement ------------------------------- -------------------------------------------- 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 the financial Ordinary Shares of GBP1 each in Avon instrument, type of Rubber p.l.c. instrument GB0000667013 Identification code ------------------------------- -------------------------------------------- b) Nature of the transaction Grant of a conditional award under the Avon Rubber p.l.c. Long Term Incentive Plan. ------------------------------- -------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s) Nil 5,950 ---------- ------------------------------- -------------------------------------------- d) Aggregated information Not applicable - single transaction * Aggregated volume * Price ------------------------------- -------------------------------------------- e) Date of the transaction 2 February 2021 ------------------------------- -------------------------------------------- f) Place of the transaction Outside a trading venue ------------------------------- -------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Keyana Hughes ------------------------------- -------------------------------------------- 2 Reason for Notification ----------------------------------------------------------------------------- a) Position/status President, Operations ------------------------------- --------------------------------------------
b) Initial notification/Amendment Initial Announcement ------------------------------- -------------------------------------------- 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 the financial Ordinary Shares of GBP1 each in Avon instrument, type of Rubber p.l.c. instrument GB0000667013 Identification code ------------------------------- -------------------------------------------- b) Nature of the transaction Grant of a conditional award under the Avon Rubber p.l.c. Long Term Incentive Plan. ------------------------------- -------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s) Nil 8,509 ---------- ------------------------------- -------------------------------------------- d) Aggregated information Not applicable - single transaction * Aggregated volume * Price ------------------------------- -------------------------------------------- e) Date of the transaction 2 February 2021 ------------------------------- -------------------------------------------- f) Place of the transaction Outside a trading venue ------------------------------- -------------------------------------------- 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Jose Rizo-Patron ------------------------------- -------------------------------------------- 2 Reason for Notification ----------------------------------------------------------------------------- a) Position/status President, Team Wendy ------------------------------- -------------------------------------------- b) Initial notification/Amendment Initial Announcement ------------------------------- -------------------------------------------- 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 the financial Ordinary Shares of GBP1 each in Avon instrument, type of Rubber p.l.c. instrument GB0000667013 Identification code ------------------------------- -------------------------------------------- b) Nature of the transaction Grant of a conditional award under the Avon Rubber p.l.c. Long Term Incentive Plan. ------------------------------- -------------------------------------------- c) Price(s) and volume(s) Price(s) Volume(s) Nil 6,458 ---------- ------------------------------- -------------------------------------------- d) Aggregated information Not applicable - single transaction * Aggregated volume * Price ------------------------------- -------------------------------------------- e) Date of the transaction 2 February 2021 ------------------------------- -------------------------------------------- f) Place of the transaction Outside a trading venue ------------------------------- --------------------------------------------
Enquiries:
Avon Rubber p.l.c.
Miles Ingrey-Counter, Company Secretary 01225 896 850
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February 03, 2021 12:00 ET (17:00 GMT)
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