discoverIE Group plc Director/PDMR Shareholding (4557J)

TIDMDSCV

RNS Number : 4557J

discoverIE Group plc

29 March 2018

29 March 2018

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 29 March 2018, the Company granted long term incentive awards under the discoverIE Group plc 2008 Renewed Long-Term Incentive Plan ("LTIP").

LTIP Awards(1)

 
 Name                   Number of 
                   Shares Subject 
                    to LTIP Award 
---------------  ---------------- 
 Nicholas 
  Jefferies               163,358 
---------------  ---------------- 
 Simon Gibbins             97,189 
---------------  ---------------- 
 

(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 
 Helen Tarbet 
 
 
 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           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            Shares in discoverIE 
       instrument                     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      163,358 
                                       -------  -------- 
---  -----------------------------  ------------------------ 
 d)   Aggregated information           N/A 
---  -----------------------------  ------------------------ 
 e)   Date of the transaction        29 March 2018 
---  -----------------------------  ------------------------ 
 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            Shares in discoverIE 
       instrument                     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      97,189 
                                       -------  ------- 
---  -----------------------------  ------------------------ 
 d)   Aggregated information           N/A 
---  -----------------------------  ------------------------ 
 e)   Date of the transaction        29 March 2018 
---  -----------------------------  ------------------------ 
 f)   Place of the transaction       Outside a trading venue 
---  -----------------------------  ------------------------ 
 

Notes to Editors:

About discoverIE Group plc

discoverIE Group (previously Acal 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 recurring revenue and long term customer relationships.

By focussing 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.3,800 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 have doubled.

This information is provided by RNS

The company news service from the London Stock Exchange

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March 29, 2018 09:15 ET (13:15 GMT)