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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Polypipe Group Plc | LSE:PLP | London | Ordinary Share | GB00BKRC5K31 | ORD GBP0.001 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 567.00 | 565.00 | 567.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMPLP
RNS Number : 6975Q
Polypipe Group PLC
22 June 2020
Polypipe Group plc (the "Company')
Notification of Transaction by Persons Discharging Managerial Responsibilities
The Company hereby notifies the following changes in the interests of directors and persons discharging managerial responsibility ("PDMRs") in Ordinary Shares of GBP0.001 each in the Company ("Shares") on 22 June 2020.
Grant of Long Term Incentive Plan awards
The Company confirms that on 22 June 2020, in accordance with its shareholder approved Remuneration Policy, it granted to each of the following Directors/PDMRs an award (structured as a nil cost option) under the Polypipe Group plc 2014 Long Term Incentive Plan (the "LTIP"). In addition, the Company made an award, subject to the same performance conditions as set out below, under the LTIP to 28 members of the Senior Management Team. The awards, which have been granted in respect of the financial year beginning on 1 January 2020, are over the following maximum number of Shares in the Company:
Hot Features
Premium
Name/Position Category Maximum number of Shares
M K Payne/Chief Executive Officer Director 132,660
---------- -------------------------
P A James/Chief Financial Officer Director 67,691
---------- -------------------------
G B Sabin/Chief Operating Officer Director 66,622
---------- -------------------------
M J Gisbourne/Group Strategy
& Marketing Director PDMR 25,489
---------- -------------------------
E G Versluys/Legal Counsel &
Company Secretary PDMR 16,220
---------- -------------------------
The vesting of each award is subject to the satisfaction of the following performance condition:
100% of the maximum potential award is based on a relative Total Shareholder Return ("TSR") performance condition with a threshold of 25% of the TSR element reached on achieving median and 100% for achieving upper quartile performance relative to the TSR of the companies in a comparator group (consisting of companies in the FTSE 250 Index that are classified as Industrials by the Industry Classification Benchmark).
This target is subject to an over-ride provision enabling the Remuneration Committee of the Company to adjust vesting outcomes based on underlying financial performance and reflects a change to past practice and the disclosure within the 2019 Directors' Remuneration Report in light of the COVID-19 pandemic, by replacing EPS with TSR for the part of the award previously subject to EPS. The Committee considers this target to be at least as challenging to those set in prior years, given performance will be measured over the normal three year period from 1 January 2020 to 31 December 2022 and operate with the same vesting profile as in prior years.
Full disclosure of the targets will be included in the 2020 Directors' Remuneration Report.
Subject to the satisfaction of the performance conditions the awards will normally vest on 22 June 2023 and remain exercisable until the tenth anniversary of the grant date.
The notifications below, which have been made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated.
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 of GBP0.001 each
financial instrument, in the capital of Polypipe Group
type of instrument plc
Identification code
GB00BKRC5K31
-------------------------- ----------------------------------------
b) Nature of the transaction G rant of an award, structured as
a nil cost option, under the Company's
2014 Long Term Incentive Plan.
-------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 132,660
----------
-------------------------- ----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
-------------------------- ----------------------------------------
e) Date of the transaction 22 June 2020
-------------------------- ----------------------------------------
f) Place of the transaction Outside a Trading Venue
-------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Paul James
-------------------------- ----------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Chief Financial 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 of GBP0.001 each
financial instrument, in the capital of Polypipe Group
type of instrument plc
Identification code
GB00BKRC5K31
-------------------------- ----------------------------------------
b) Nature of the transaction G rant of an award, structured as
a nil cost option, under the Company's
2014 Long Term Incentive Plan.
-------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 67,691
----------
-------------------------- ----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
-------------------------- ----------------------------------------
e) Date of the transaction 22 June 2020
-------------------------- ----------------------------------------
f) Place of the transaction Outside a Trading Venue
-------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Glen Sabin
-------------------------- ----------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Chief Operating 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 of GBP0.001 each
financial instrument, in the capital of Polypipe Group
type of instrument plc
Identification code
GB00BKRC5K31
-------------------------- ----------------------------------------
b) Nature of the transaction G rant of an award, structured as
a nil cost option, under the Company's
2014 Long Term Incentive Plan.
-------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 66,622
----------
-------------------------- ----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
-------------------------- ----------------------------------------
e) Date of the transaction 22 June 2020
-------------------------- ----------------------------------------
f) Place of the transaction Outside a Trading Venue
-------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Martin Gisbourne
-------------------------- ----------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status 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 of GBP0.001 each
financial instrument, in the capital of Polypipe Group
type of instrument plc
Identification code
GB00BKRC5K31
-------------------------- ----------------------------------------
b) Nature of the transaction G rant of an award, structured as
a nil cost option, under the Company's
2014 Long Term Incentive Plan.
-------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 25,489
----------
-------------------------- ----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
-------------------------- ----------------------------------------
e) Date of the transaction 22 June 2020
-------------------------- ----------------------------------------
f) Place of the transaction Outside a Trading Venue
-------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Emma Versluys
---------------------------------------------------------------- -----------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------
a) Position/status 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 of GBP0.001 each
financial instrument, in the capital of Polypipe Group
type of instrument plc
Identification code
GB00BKRC5K31
---------------------------------------------------------------- -----------------------------------------
b) Nature of the transaction G rant of an award, structured as
a nil cost option, under the Company's
2014 Long Term Incentive Plan.
---------------------------------------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 16,220
----------
---------------------------------------------------------------- -----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
---------------------------------------------------------------- -----------------------------------------
e) Date of the transaction 22 June 2020
---------------------------------------------------------------- -----------------------------------------
f) Place of the transaction Outside a Trading Venue
---------------------------------------------------------------- -----------------------------------------
Contacts: +44 (0) 1709 770
Emma Versluys, Company Secretary 000
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 rns@lseg.com or visit www.rns.com.
END
DSHKKBBKPBKDAAB
(END) Dow Jones Newswires
June 22, 2020 11:08 ET (15:08 GMT)
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