discoverIE Group plc Director LTIP Award (7834P)

TIDMDSCV

RNS Number : 7834P

discoverIE Group plc

22 June 2022

22 June 2022

discoverIE Group plc

Director LTIP Award

discoverIE Group plc (LSE: DSCV, "discoverIE" or "the Company"), a leading international designer and manufacturer of customised electronics for industrial applications, announces that, on 21 June 2022, options were granted for nil consideration over the following numbers of ordinary shares in the Company ("Ordinary Shares"), under the 2021 discoverIE Group plc Long Term Incentive Plan ("LTIP") (the "Awards"):

 
 Director/PDMR     Number of Awards granted 
 Nick Jefferies                     131,364 
                  ------------------------- 
 Simon Gibbins                       78,619 
                  ------------------------- 
 

The Awards will vest on 23 June 2025, 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.

In addition to the Awards, a further 7,370 options over Ordinary Shares were granted to Simon Gibbins in return for him bearing the Company's liability for the employers' National Insurance Contributions arising on exercise. The additional award ensures he is in a neutral position on an after-tax basis.

For further information, please contact:

discoverIE Group plc

   Greg Davidson - Company Secretary     01483 544 500 

Buchanan

   Chris Lane, Toto Berger, Jack Devoy      020 7466 5000 

[e-mail]

Notes to Editors :

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

The Group provides application-specific components to original equipment manufacturers ("OEMs") internationally through its two divisions, Magnetics & Controls, and Sensing & Connectivity. By designing components that meet customers' unique requirements, which are then manufactured and supplied throughout the life of their production, a high level of repeating revenue is generated with long term customer relationships.

With a focus on sustainable key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, electrification of transportation and industrial automation & connectivity, the Group aims to achieve organic growth that is well ahead of GDP and to supplement that with complementary acquisitions. The Group has an ongoing commitment to reducing the impact of its operations on the environment and with its key markets aligned with a sustainable future, MSCI has awarded the Group an ESG "A" rating.

The Group employs c.4,900 people across 20 countries with its principal operating units located in Continental Europe, the UK, China, Sri Lanka, India and North America.

discoverIE is listed on the Main Market of the London Stock Exchange and is a member of the FTSE250, classified within the Electrical Components and Equipment subsector.

 
 1    Details of the person discharging managerial 
       responsibilities/person closely associated 
 a)   Name                              Nick Jefferies 
     --------------------------------  --------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------- 
 a)   Position / status                 Group Chief Executive 
     --------------------------------  --------------------------- 
 b)   Initial notification /            Initial notification 
       amendment 
     --------------------------------  --------------------------- 
 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 
       instrument, type of instrument    Shares 
 
       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      131,364 
                                                   -------- 
     --------------------------------  --------------------------- 
 d)   Aggregated information            N/A 
     --------------------------------  --------------------------- 
 e)   Date of the transaction           21 June 2022 
     --------------------------------  --------------------------- 
 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 /            Initial notification 
       amendment 
     --------------------------------  --------------------------- 
 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 
       instrument, type of instrument    Shares 
 
       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      85,989 
                                                   ------- 
     --------------------------------  --------------------------- 
 d)   Aggregated information            N/A 
     --------------------------------  --------------------------- 
 e)   Date of the transaction           21 June 2022 
     --------------------------------  --------------------------- 
 f)   Place of the transaction          Outside a trading venue 
     --------------------------------  --------------------------- 
 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHEAPKAASSAEEA

(END) Dow Jones Newswires

June 22, 2022 04:58 ET (08:58 GMT)