Polypipe Group PLC Director/PDMR Shareholding (5387B)

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RNS Number : 5387B

Polypipe Group PLC

07 June 2019

Polypipe Group plc (the "Company")

Notification of transactions by Person Discharging Managerial Responsibilities

The Company announces that on 6 June 2019, Martin Payne, Chief Executive Officer and a Person Discharging Managerial Responsibilities, exercised the following options:

1. a nil-cost option over 11,354 ordinary shares of GBP0.001 each in the capital of the Company ('Shares') (comprising 10,449 Shares granted under the Award and 905 Shares awarded at vesting in lieu of dividends paid during the vesting period), in accordance with the Deferred Share Award that was granted to him on 31 May 2016. Full details of the Award were included in a regulatory announcement released on 31 May 2016 and in the Company's 2016 Annual Report and Accounts. The Company's Employee Benefit Trust has today transferred 6,018 Shares to Mr. Payne which represents the net number of Shares due to him after the addition of dividend shares and the appropriate tax and national insurance liabilities were taken into account.

2. a nil-cost option over 68,258 Shares in accordance with the Long Term Incentive Award granted to him on 31 May 2016. Mr Payne sold sufficient shares to cover the appropriate tax and national insurance liabilities due on exercise.

3. a nil-cost option over 4,121 Shares in accordance with the Deferred Share Bonus Plan Award granted to him on 25 April 2017. Mr Payne sold sufficient shares to cover the appropriate tax and national insurance liabilities due on exercise.

Mr Payne now holds an interest in a total of 159,817 Shares.

The notification below, which has been made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                        Martin Payne 
     --------------------------  ------------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status             Chief Executive Officer/Director 
                                   and PDMR 
     --------------------------  ------------------------------------------- 
 b)   Initial notification        Initial notification 
       /Amendment 
     --------------------------  ------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                        Polypipe Group plc 
     --------------------------  ------------------------------------------- 
 b)   LEI                         2138005IF1N2RKJ6KO18 
     --------------------------  ------------------------------------------- 
 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          Ordinary Shares ("Shares") of GBP0.001 
       financial instrument,       each in the capital of Polypipe Group 
       type of instrument          plc 
 
       Identification code 
                                   GB00BKRC5K31 
     --------------------------  ------------------------------------------- 
 b)   Nature of the transaction   Acquisition of Shares for no consideration 
                                   pursuant to the exercise of nil-cost 
                                   options as follows: 
                                   Deferred Share Award ("DSA") granted 
                                   on 31 May 2016 
                                   Long Term Incentive Plan ("LTIP") 
                                   award granted on 31 May 2016 
                                   Deferred Share Bonus Plan ("DSBP") 
                                   award granted on 25 April 2017 
     --------------------------  ------------------------------------------- 
 c)   Price(s) and volume(s)        Price(s)   Volume(s) 
                                     Nil        6,018 - Number 
                                                 of DSA Shares 
                                                 acquired after 
                                                 reduction for 
                                                 appropriate tax 
                                                 and national insurance 
                                                 liabilities. 
 
                                                 36,048 - Number 
                                                 of LTIP Shares 
                                                 acquired after 
                                                 reduction for 
                                                 appropriate tax 
                                                 and national insurance 
                                                 liabilities. 
 
                                                 2,176 - Number 
                                                 of DSBP Shares 
                                                 acquired after 
                                                 reduction for 
                                                 appropriate tax 
                                                 and national insurance 
                                                 liabilities. 
                                               ------------------------ 
     --------------------------  ------------------------------------------- 
 d)   Aggregated information      N/A 
 
 
       - Aggregated volume 
 
 
       - Price 
     --------------------------  ------------------------------------------- 
 e)   Date of the transaction     6 June 2019 
     --------------------------  ------------------------------------------- 
 f)   Place of the transaction    Outside a Trading Venue 
     --------------------------  ------------------------------------------- 
 

Enquiries:

Emma Versluys, Company Secretary

[phone]

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.

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June 07, 2019 06:08 ET (10:08 GMT)