Norcros PLC Director's Dealings (2980H)
26 Julho 2023 - 9:06AM
UK Regulatory
TIDMNXR
RNS Number : 2980H
Norcros PLC
26 July 2023
Norcros plc ("Norcros" or "the Company")
Director Dealings - APSP Share Option and Deferred Share
awards
Director/PDMR Shareholding
Norcros announces that the Board, following a recommendation
from the Remuneration Committee, has granted new share options to
the following current and former Directors under the Company's
Approved Performance Share Plan (the "APSP") and Deferred Bonus
Plan (the "DBP") on 26 July 2023.
The notification below, made in accordance with the requirements
of the Market Abuse Regulation ("MAR"), provides further
details.
APSP Share Option Awards
The Company has today granted the following unapproved nil cost
share option awards under the APSP in respect of the current
financial year (the "APSP Awards") to two Executive Directors of
the Company over ordinary shares of ten pence each in the Company
("Ordinary Shares").
Under the APSP, awards are made subject to performance targets
relating to improvements in the Company's Earnings Per Share
("EPS"). Vesting of these Ordinary Shares will be subject to
achieving aggregate diluted EPS targets over a three year
performance period, starting with the 2024 financial year.
The APSP Awards will normally vest on the third anniversary of
their grant, subject to satisfactory achievement of the performance
targets. No consideration was paid for the APSP Awards.
Name Number of Ordinary Shares subject
to the APSP Award
Thomas Willcocks (CEO from
1 April 2023) 247,058
James Eyre (CFO) 188,235
----------------------------------
Bonus payment - Deferred Share Awards
Under the annual bonus scheme, 50 per cent. of an Executive
Director's total bonus for the year is satisfied in cash, with the
other 50 per cent. in the form of nil cost options under the DBP.
These options represent 50 per cent. of the bonuses earned by the
Executive Directors for the 2023 financial year. During this
financial year Nick Kelsall was CEO of the Company.
Norcros therefore also announces the grant of the following nil
cost share option awards under the DBP in respect of the year ended
31 March 2023 (the "Deferred Awards") to the relevant Executive
Director of the Company over Ordinary Shares.
Name Number of Ordinary Shares subject
to the Deferred Bonus Plan Award
Nick Kelsall (CEO until 31
March 2023) 45,220
James Eyre (CFO) 27,550
----------------------------------
The Deferred Awards are granted on the terms of the DBP and will
normally vest on the third anniversary of their grant. Because
these shares represent part of a bonus already earned, no
consideration was paid for the Deferred Awards and no consideration
is due to be payable on vesting.
MAR Notification
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 Thomas Willcocks
-------------------------- ----------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Chief Executive Officer (effective from
1 April 2023)
-------------------------- ----------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Norcros plc
-------------------------- ----------------------------------------------
b) LEI 213800EIMJZZA1GBIE18
-------------------------- ----------------------------------------------
4 Details of the transaction(s): section to be repeated for (i)
A 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 Share of 10 pence
financial instrument,
type of instrument
GB00BYYJL418
Identification code
-------------------------- ----------------------------------------------
b) Nature of the transaction Grant of 247,058 options under the Company's
Approved Performance Share Plan (the "APSP")
-------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
n/a n/a
----------
-------------------------- ----------------------------------------------
d) Aggregated information
- Aggregated volume n/a
- Price n/a
-------------------------- ----------------------------------------------
e) Date of the transaction 26 July 2023
-------------------------- ----------------------------------------------
f) Place of the transaction Wilmslow, Cheshire, England
-------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name James Eyre
-------------------------- -------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------
a) Position/status Chief Financial Officer
-------------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name Norcros plc
-------------------------- -------------------------------------------------
b) LEI 213800EIMJZZA1GBIE18
-------------------------- -------------------------------------------------
4 Details of the transaction(s): section to be repeated for (i)
A 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 Share of 10 pence
financial instrument,
type of instrument
GB00BYYJL418
Identification code
-------------------------- -------------------------------------------------
b) Nature of the transaction Grant of 188,235 options under the Company's
Approved Performance Share Plan (the "APSP")
and 27,550 options under the Company's Deferred
Bonus Plan (the "DBP") on 26 July 2023
-------------------------- -------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
n/a n/a
----------
-------------------------- -------------------------------------------------
d) Aggregated information
- Aggregated volume n/a
- Price n/a
-------------------------- -------------------------------------------------
e) Date of the transaction 26 July 2023
-------------------------- -------------------------------------------------
f) Place of the transaction Wilmslow, Cheshire, England
-------------------------- -------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Nick Kelsall
-------------------------- -------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------
a) Position/status Chief Executive Officer (to 31 March 2023)
-------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Norcros plc
-------------------------- -------------------------------------------
b) LEI 213800EIMJZZA1GBIE18
-------------------------- -------------------------------------------
4 Details of the transaction(s): section to be repeated for (i)
A 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 Share of 10 pence
financial instrument,
type of instrument
GB00BYYJL418
Identification code
-------------------------- -------------------------------------------
b) Nature of the transaction Grant of 45,220 options under the Deferred
Bonus Plan (the "DBP") on 26 July 2023
-------------------------- -------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
n/a n/a
----------
-------------------------- -------------------------------------------
d) Aggregated information
- Aggregated volume n/a
- Price n/a
-------------------------- -------------------------------------------
e) Date of the transaction 26 July 2023
-------------------------- -------------------------------------------
f) Place of the transaction Wilmslow, Cheshire, England
-------------------------- -------------------------------------------
Further enquiries:
Norcros plc Tel: 01625 547 700
Thomas Willcocks, Chief Executive
Officer
James Eyre, Chief Financial
Officer
Hudson Sandler Tel: 0207 796 4133
Nick Lyon
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END
DSHUNRUROVUBUAR
(END) Dow Jones Newswires
July 26, 2023 08:06 ET (12:06 GMT)
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