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PRV Porvair Plc

622.00
2.00 (0.32%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Porvair Plc LSE:PRV London Ordinary Share GB0006963689 ORD 2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  2.00 0.32% 622.00 622.00 632.00 632.00 622.00 622.00 122,379 16:35:26
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Chemicals & Chem Preps, Nec 176.01M 15.97M 0.3445 18.35 292.94M

Porvair PLC Grant of LTSP awards (7999O)

03/02/2023 7:24am

UK Regulatory


Porvair (LSE:PRV)
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From Mar 2022 to Mar 2024

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TIDMPRV

RNS Number : 7999O

Porvair PLC

02 February 2023

For immediate release 2 February 2023

Grant of LTSP awards

Porvair plc ("Porvair", the "Group" or the "Company"), the specialist filtration and environmental technologies group, announces that on 2 February 2023 it granted options under the Group's Long Term Share Plan ("LTSP") to the Executive Directors.

Grant of Long Term Share Plan options

Options under the LTSP were granted as follows:

 
                             Options 
                              awarded                              Minimum        Total options 
                             under the    Grant      Vesting        holding       held, including 
   Director     Position       LTSP        date        date         period         SAYE options 
                                        2 February  2 February     2 years 
  Ben Stocks       CEO        97,475       2023        2025      after vesting       315,205 
               ----------  -----------  ----------  ----------  --------------  ----------------- 
 James Mills       CFO        57,070                                                 147,420 
               ----------  -----------  ----------  ----------  --------------  ----------------- 
 

These options can only be exercised in full if the Remuneration Committee is satisfied that in the financial year ending 30 November 2025 ('FY2025') the Group has achieved Adjusted EPS of at least 50.5 pence, which is a 15% compound annual growth rate from the Adjusted EPS in the year ended 30 November 2022. 20% of the award will vest if the Group has achieved Adjusted EPS of 37.3 pence in FY2025. A sliding scale will operate if Adjusted EPS are between 37.3 pence and 50.5 pence. No shares vest if the Adjusted EPS in FY2025 are below 37.3 pence. After the vesting period, before the end of the two year holding period, the option holder may exercise the option but may only sell sufficient shares to settle the option price and the income tax payable. The options may be exercised after the vesting period up until 2 February 2033. Claw-back and malus provisions apply.

Following this grant the total number of LTSP and SAYE options in issue is 783,784, representing approximately 1.7% of the shares in issue.

For further information, please contact:

 
 
 Chris Tyler, Group Company Secretary     01553 765 500 
 

Notes to editors

Porvair plc

Porvair is a group of specialist filtration, laboratory and environmental technology businesses. Its businesses design and manufacture a range of bespoke consumable filtration products that are used in a range of niche filtration markets. It operates in three divisions: Aerospace & Industrial; Laboratory; and Metal Melt Quality.

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                             James Mills 
      -------------------------------  -------------------------------------------- 
 2.    Reason for the notification 
      ----------------------------------------------------------------------------- 
 a.    Position/status                  CFO 
      -------------------------------  -------------------------------------------- 
 b.    Initial notification             Initial notification 
        /Amendment 
      -------------------------------  -------------------------------------------- 
 3.    Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ----------------------------------------------------------------------------- 
 a.    Name                             Porvair plc 
      -------------------------------  -------------------------------------------- 
 b.    LEI                              213800ECKHS8LAQO3C45 
      -------------------------------  -------------------------------------------- 
 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                      Options over Ordinary Shares of 2 pence 
        of the                           under the Porvair plc Long Term Share Plan 
        Financial instrument, 
        type                             GB0006963689 
        of instrument 
        Identification 
        code 
      -------------------------------  -------------------------------------------- 
 b.    Nature of the 
        transaction                       Grant of options 
      -------------------------------  -------------------------------------------- 
 c.    Price(s) and                       Price(s)    Volume(s) 
        volume(s)                          GBP0.02     57,070 
                                                      ---------- 
      -------------------------------  -------------------------------------------- 
 d.         Aggregated information 
              *    Aggregated volume      As above 
 
 
              *    Price 
      -------------------------------  -------------------------------------------- 
       Date of the 
 e.     transaction                     2023-02-02 
      -------------------------------  -------------------------------------------- 
 f.    Place of the                     Outside a trading venue 
        transaction 
      -------------------------------  -------------------------------------------- 
 

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                             Ben Stocks 
      -------------------------------  -------------------------------------------- 
 2.    Reason for the notification 
      ----------------------------------------------------------------------------- 
 a.    Position/status                  CEO 
      -------------------------------  -------------------------------------------- 
 b.    Initial notification             Initial notification 
        /Amendment 
      -------------------------------  -------------------------------------------- 
 3.    Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ----------------------------------------------------------------------------- 
 a.    Name                             Porvair plc 
      -------------------------------  -------------------------------------------- 
 b.    LEI                              213800ECKHS8LAQO3C45 
      -------------------------------  -------------------------------------------- 
 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                   Options over Ordinary Shares of 2 pence 
        the                              under the Porvair plc Long Term Share Plan 
        Financial instrument, 
        type                             GB0006963689 
        of instrument 
        Identification 
        code 
      -------------------------------  -------------------------------------------- 
 b.    Nature of the 
        transaction                       Grant of options 
      -------------------------------  -------------------------------------------- 
 c.    Price(s) and volume(s)             Price(s)    Volume(s) 
                                           GBP0.02     97,475 
                                                      ---------- 
      -------------------------------  -------------------------------------------- 
 d.         Aggregated information 
              *    Aggregated volume      As above 
 
 
              *    Price 
      -------------------------------  -------------------------------------------- 
 e.    Date of the transaction          2023-02-02 
      -------------------------------  -------------------------------------------- 
 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 rns@lseg.com or visit www.rns.com.

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END

DSHUUSBRORUURAR

(END) Dow Jones Newswires

February 02, 2023 12:42 ET (17:42 GMT)

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