discoverIE Group plc Director LTIP Award (8007X)

TIDMDSCV

RNS Number : 8007X

discoverIE Group plc

01 May 2019

1 May 2019

discoverIE Group plc

Director LTIP Award

discoverIE Group plc (LSE : DSCV, "discoverIE" or the "Company"), a leading international designer, manufacturer and supplier of customised electronics to industry, announces that on 30 April 2019, the Company granted long term incentive awards under the discoverIE Group plc 2018 Renewed Long-Term Incentive Plan ("LTIP").

LTIP Awards(1)

 
 Name                  Number of Shares 
                        Subject to LTIP 
                                  Award 
 Nicholas Jefferies             166,236 
                      ----------------- 
 Simon Gibbins                  107,385 
                      ----------------- 
 

(1) The LTIP awards are granted in the form of nil-cost options over ordinary shares of 5 pence each in the Company ("Ordinary Shares"). The awards will vest on the third anniversary of the date of grant, subject to the achievement of performance targets measured over a three-year period. Vested options will be subject to an additional two-year holding period prior to being eligible for exercise.

For further information, please contact:

discoverIE Group plc 01483 544 500

Nick Jefferies - Group Chief Executive

Simon Gibbins - Group Finance Director

Instinctif Partners 0207 457 2020

Mark Garraway

James Gray

 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                                  Nicholas 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          Options over Ordinary Shares 
       instrument, type of instrument        in discoverIE Group plc 
       Identification code                   GB0000055888 
     ------------------------------------  --------------------------------- 
 b)   Nature of the transaction             Award made pursuant to the 
                                             Company's Long-Term Incentive 
                                             Plan 
     ------------------------------------  --------------------------------- 
 c)   Price(s) and volume(s)                  Price    Volume 
                                               Nil      166,236 
                                                       -------- 
     ------------------------------------  --------------------------------- 
 d)   Aggregated information                  N/A 
     ------------------------------------  --------------------------------- 
 e)   Date of the transaction               30 April 2019 
     ------------------------------------  --------------------------------- 
 f)   Place of the transaction              Outside a trading venue 
     ------------------------------------  --------------------------------- 
 
 
 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          Options over Ordinary Shares 
       instrument, type of instrument        in discoverIE Group plc 
       Identification code                   GB0000055888 
     ------------------------------------  --------------------------------- 
 b)   Nature of the transaction             Award made pursuant to the 
                                             Company's Long-Term Incentive 
                                             Plan 
     ------------------------------------  --------------------------------- 
 c)   Price(s) and volume(s)                  Price    Volume 
                                               Nil      107,385 
                                                       -------- 
     ------------------------------------  --------------------------------- 
 d)   Aggregated information                  N/A 
     ------------------------------------  --------------------------------- 
 e)   Date of the transaction               30 April 2019 
     ------------------------------------  --------------------------------- 
 f)   Place of the transaction              Outside a trading venue 
     ------------------------------------  --------------------------------- 
 

Notes to Editors:

About discoverIE Group plc

discoverIE Group plc is an international group of businesses that designs, manufactures and supplies innovative components for electronic applications.

The Group provides application-specific components to original equipment manufacturers ("OEMs") internationally. With in-house engineering capability, we are able to design components to meet customer requirements, which are then manufactured and supplied, usually on a repeating basis, for their ongoing production needs. This generates a high level of repeating revenue and long-term customer relationships.

By focusing on key markets which are driven by structural growth and increasing electronic content, namely renewable energy, transportation, medical and industrial connectivity, the Group aims to achieve organic growth that is well ahead of GDP and to supplement that with targeted complementary acquisitions.

The Group employs c.4,300 people and its principal operating units are located in Continental Europe, the UK, China, Sri Lanka, India and North America.

The Group is listed on the Main Market of the London Stock Exchange and is a member of the FTSE Small Cap Index, classified within the Electrical Components and Equipment subsector, and has revenue of GBP0.4bn. Over the last five years, revenue and underlying earnings per share has more than doubled.

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 [e-mail] or visit www.rns.com.

END

DSHABMATMBBMBLL

(END) Dow Jones Newswires

May 01, 2019 11:21 ET (15:21 GMT)