TT Electronics PLC Director/PDMR Shareholding (4615S)

TIDMTTG

RNS Number : 4615S

TT Electronics PLC

16 March 2021

16 March 2021

TT Electronics plc

Deferred Share Bonus Plan

TT Electronics plc (the "Company") announces that conditional awards of ordinary shares of 25p each in the Company ("Shares") were granted on 16 March 2021 under the Company's Deferred Share Bonus Plan to the Executive Directors of the Company.

In deciding the 2020 short-term incentive award to the Executive Directors, the Remuneration Committee decided to defer the full award into Shares rather than adopt the 80 per cent cash payment and 20 per cent deferred share approach as per the default under the Remuneration Policy and accordingly the awards represent such 100 per cent deferral in Shares.

   Executive Director                                                             Number of Shares 

Richard Tyson 105,058

Mark Hoad 78,808

In line with the Remuneration Policy 20 per cent of the award will vest on the second anniversary and the remaining 2020 STIP award, deferred in excess of the Remuneration Policy default, will vest on the first anniversary.

No consideration was payable for the grant of awards.

Awards are subject to malus and clawback provisions.

The Company was informed of the above transactions on 16 March 2021. The following notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further details.

 
 1.   Details of PDMR / person closely associated with them ('PCA') 
===  ============================================================================= 
 a)   Name                           Richard Tyson 
===  =============================  ============================================== 
 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                           TT Electronics plc 
===  =============================  ============================================== 
 b)   LEI                            213800TJGBW5VFHQEV54 
===  =============================  ============================================== 
 4.   Details of the transaction(s) 
===  ============================================================================= 
 a)   Description of the financial   Ordinary shares of 25p each 
       instrument, type of 
       instrument 
 
       Identification Code            GB0008711763 
===  =============================  ============================================== 
 b)   Nature of the transaction      Grant of conditional award of ordinary shares 
                                      under the terms of the Deferred Share Bonus 
                                      Plan. 
===  =============================  ============================================== 
 c)   Price(s) and volume(s)           Price(s)    Volume(s) 
                                        GBP0.00     105,058 
                                                   ---------- 
===  =============================  ============================================== 
 d)   Aggregated information 
       Aggregated volume               See 4c above 
       Price                           See 4c above 
===  =============================  ============================================== 
 e)   Date of the transaction        2021-03-16 
===  =============================  ============================================== 
 f)   Place of the transaction       Outside a trading venue 
     =============================  ============================================== 
 
 
 1.   Details of PDMR / person closely associated with them ('PCA') 
===  ============================================================================= 
 a)   Name                           Mark Hoad 
===  =============================  ============================================== 
 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                           TT Electronics plc 
===  =============================  ============================================== 
 b)   LEI                            213800TJGBW5VFHQEV54 
===  =============================  ============================================== 
 4.   Details of the transaction(s) 
===  ============================================================================= 
 a)   Description of the financial   Ordinary shares of 25p each 
       instrument, type of 
       instrument 
 
       Identification Code            GB0008711763 
===  =============================  ============================================== 
 b)   Nature of the transaction      Grant of conditional award of ordinary shares 
                                      under the terms of the Deferred Share Bonus 
                                      Plan. 
===  =============================  ============================================== 
 c)   Price(s) and volume(s)           Price(s)    Volume(s) 
                                        GBP0.00     78,808 
                                                   ---------- 
===  =============================  ============================================== 
 d)   Aggregated information 
       Aggregated volume               See 4c above 
       Price                           See 4c above 
===  =============================  ============================================== 
 e)   Date of the transaction        2021-03-16 
===  =============================  ============================================== 
 f)   Place of the transaction       Outside a trading venue 
     =============================  ============================================== 
 

For further information please contact:

TT Electronics plc

   Richard Tyson, Chief Executive Officer:                               Tel:  + 44 (0)1932 825300 

Mark Hoad, Chief Financial Officer:

Julian Wais, Head of Investor Relations

MHP Communications

Tim Rowntree / Rachel Mann: Tel: [phone]

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March 16, 2021 11:50 ET (15:50 GMT)