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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 |
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 ------------------------------- --------------------------------------------
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END
DSHUUSBRORUURAR
(END) Dow Jones Newswires
February 02, 2023 12:42 ET (17:42 GMT)
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