TIDMAVON
RNS Number : 0414Y
Avon Rubber PLC
30 November 2017
30 November 2017
Avon Rubber p.l.c. ("the Company")
Directors' and PDMRs' Interest in Shares
As disclosed in the 2017 annual report, awards representing 100%
of the maximum possible award under the Avon Rubber p.l.c.
Performance Share Plan 2010, were granted to Executive Directors,
persons discharging managerial responsibilities ('PDMRs') and other
employees (together 'Participants') on 1 December 2014 ('the 2014
Awards').
The Awards were made subject to performance conditions based on
the Company's Total Shareholder Return ('TSR') and Earnings Per
Share ('EPS'), to be measured over a 3 year performance period
which commenced on 1 October 2014 and ended on 30 September 2017.
The start and end point of the Company's TSR performance by
reference to the comparator group was measured over the 5 days
following the announcement of the Company's annual results for the
year ended 30 September 2014 and the year ended 30 September 2017.
The Company's EPS performance was measured by reference to the EPS
in the 2014 and 2017 year end results.
The Remuneration Committee confirmed on 27 November 2017 that
99% of the Awards vested.
The Company received valid exercise notices from the
Participants in respect of the 2014 Awards. As a result, on 28
November 2017, Paul McDonald, Miles Ingrey-Counter and Craig Sage,
pursuant to the terms of the relevant joint ownership awards, sold
their vested interests over all jointly owned shares in the market
and exercised their nil cost options to acquire whole shares in the
Company. Some of these shares were then sold to meet tax and
National Insurance liabilities associated with the vesting of the
2014 Awards and for personal reasons. Leon Klapwijk acquired whole
shares pursuant to his 2014 Award and sold a number of shares to
meet tax and National Insurance liabilities.
The table below sets out the total number of shares over which
the 2014 Awards were made to Executive Directors and PDMRs and
total disposals:
Total Whole shares Whole
Vested acquired shares
Award* under nil disposed
cost option
Executive Director
Paul McDonald 16,221 11,563 9,919
-------- ------------- ----------
PDMRs
Miles Ingrey-Counter 15,125 10,782 7,925
-------- ------------- ----------
Craig Sage 6,005 4,281 3,146
-------- ------------- ----------
Leon Klapwijk 8,905 8,905 4,186
-------- ------------- ----------
*99% of the total number of the 2014 Awards. Paul McDonald,
Miles Ingrey-Counter and Craig Sage held an interest in the number
of shares shown in the above table which was sold, on 28 November
2017, following the vesting of the 2014 Awards. The proceeds due to
the executives on sale of the jointly owned shares were determined
by the 2014 Joint Ownership Agreements as GBP3.26 per share.
The following notification is intended to satisfy the Company's
obligations under Article 19 of the Market Abuse Regulation.
Notification and public disclosure of transactions by PDMRs:
1. Disposal of interests in jointly owned shares pursuant to the
vesting of 2014 Awards made under the Avon Rubber p.l.c.
Performance Share Plan 2010
1 Details of person discharging managerial
responsibilities/person closely associated
a) Name 1) Paul McDonald
2) Miles Ingrey-Counter
3) Craig Sage
------------------------- -----------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position / 1) Chief Executive Officer
status 2) Company Secretary
3) Divisional Head - Dairy
------------------------- -----------------------------------------
b) Initial notification Initial notification
/
amendment
------------------------- -----------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--------------------------------------------------------------------
a) Name Avon Rubber p.l.c.
------------------------- -----------------------------------------
b) LEI 213800JM1AN62REBWA71
------------------------- -----------------------------------------
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 Ordinary GBP1 shares in
of the Avon Rubber p.l.c.
financial
instrument GB0000667013
and ISIN Code
------------------------- -----------------------------------------
b) Nature of Disposal of interests in
the jointly owned shares pursuant
transaction to the vesting of 2014 Awards
made under the Avon Rubber
p.l.c. Performance Share
Plan 2010
------------------------- -----------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 1) GBP 11.50* 1) 16,221
2) GBP 11.50* 2) 15,125
3) GBP 11.50* 3) 6,005
----------------
*of which GBP3.26 per jointly
owned share was payable
to the PDMRs.
------------------------- -----------------------------------------
d) Aggregated
Information
1) 16,221
* Aggregated volume GBP 11.50
GBP 186,541.50
* Aggregated price 15,125
GBP 11.50
GBP 173,937.50
* Aggregated total
6,005
GBP 11.50
2) GBP 69,057.50
* Aggregated volume
* Aggregated price
* Aggregated total
3)
* Aggregated volume
* Aggregated price
* Aggregated total
------------------------- -----------------------------------------
e) Date of the All occurred on 2017-11-28
transactions
------------------------- -----------------------------------------
f) Place of the London Stock Exchange (XLON)
transaction
------------------------- -----------------------------------------
2. Acquisition of shares pursuant to the vesting of 2014 Awards
made under the Avon Rubber p.l.c. Performance Share Plan 2010
1 Details of person discharging managerial
responsibilities/person closely associated
a) Name 1) Paul McDonald
2) Miles Ingrey-Counter
3) Craig Sage
4) Leon Klapwijk
------------------------- --------------------------------------
2 Reason for the notification
-----------------------------------------------------------------
a) Position / 1) Chief Executive Officer
status 2) Company Secretary
3) Divisional Head - Dairy
4) Divisional Head - Protection
------------------------- --------------------------------------
b) Initial notification Initial notification
/
amendment
------------------------- --------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
-----------------------------------------------------------------
a) Name Avon Rubber p.l.c.
------------------------- --------------------------------------
b) LEI 213800JM1AN62REBWA71
------------------------- --------------------------------------
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 Ordinary GBP1 shares in Avon
of the Rubber p.l.c.
financial instrument
and ISIN Code GB0000667013
------------------------- --------------------------------------
b) Nature of the Shares acquired on the exercise
transaction of nil cost options pursuant
to the vesting of 2014 Awards
made under the Avon Rubber
p.l.c. Performance Share Plan
2010
------------------------- --------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 1) GBP nil 1) 11,563
2) GBP nil 2) 10,782
3) GBP nil 3) 4,281
4) GBP nil 4) 8,905
----------------
------------------------- --------------------------------------
d) Aggregated
Information
1) 11,563
* Aggregated volume GBP nil
GBP nil
* Aggregated price 10,782
GBP nil
GBP nil
* Aggregated total
4,281
GBP nil
2) GBP nil
* Aggregated volume
8,905
GBP nil
* Aggregated price GBP nil
* Aggregated total
3)
* Aggregated volume
* Aggregated price
* Aggregated total
4)
* Aggregated volume
* Aggregated price
* Aggregated total
------------------------- --------------------------------------
e) Date of the All occurred on 2017-11-28
transactions
------------------------- --------------------------------------
f) Place of the London Stock Exchange (XLON)
transaction
------------------------- --------------------------------------
3. Disposal of shares resulting from the exercise of nil cost
options pursuant to the vesting of 2014 Awards made under the Avon
Rubber p.l.c. Performance Share Plan 2010
1 Details of person discharging managerial
responsibilities/person closely associated
a) Name 1) Paul McDonald
2) Miles Ingrey-Counter
3) Craig Sage
4) Leon Klapwijk
------------------------- ---------------------------------------
2 Reason for the notification
------------------------------------------------------------------
a) Position / 1) Chief Executive Officer
status 2) Company Secretary
3) Divisional Head - Dairy
4) Divisional Head - Protection
------------------------- ---------------------------------------
b) Initial notification Initial notification
/
amendment
------------------------- ---------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
------------------------------------------------------------------
a) Name Avon Rubber p.l.c.
------------------------- ---------------------------------------
b) LEI 213800JM1AN62REBWA71
------------------------- ---------------------------------------
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 Ordinary GBP1 shares in Avon
of the Rubber p.l.c.
financial instrument
and ISIN Code GB0000667013
------------------------- ---------------------------------------
b) Nature of the Disposal of shares resulting
transaction from the exercise of nil cost
options pursuant to the vesting
of 2014 Awards made under
the Avon Rubber p.l.c. Performance
Share Plan 2010 to pay tax,
National Insurance and in
some cases for personal reasons
------------------------- ---------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 1) GBP 11.50 1) 9,919
2) GBP 11.50 2) 7,925
3) GBP 11.50 3) 3,146
4) GBP 11.50 4) 4,186
---------------
------------------------- ---------------------------------------
d) Aggregated
Information
1) 9,919
* Aggregated volume GBP 11.50
GBP 114,068.50
* Aggregated price 7,925
GBP 11.50
GBP 91,137.50
* Aggregated total
3,146
GBP 11.50
2) GBP 36,179
* Aggregated volume
4,186
GBP 11.50
* Aggregated price GBP 48,139
* Aggregated total
3)
* Aggregated volume
* Aggregated price
* Aggregated total
4)
* Aggregated volume
* Aggregated price
* Aggregated total
------------------------- ---------------------------------------
e) Date of the All occurred on 2017-11-28
transactions
------------------------- ---------------------------------------
f) Place of the London Stock Exchange (XLON)
transaction
------------------------- ---------------------------------------
LEI: 213800JM1AN62REBWA71
Classification: Transactions by PDMRs under article 19 of the
Market Abuse Regulation.
Contact Information:
Avon Rubber p.l.c.
Miles Ingrey-Counter, Company Secretary 01225 896850
Weber Shandwick Financial
Nick Oborne/Tom Jenkins 020 7067 0700
Note to editors:
Avon Rubber p.l.c. is an innovative technology group,
specialising in respiratory protection systems and milking point
solutions through our two businesses Avon Protection and milkrite |
InterPuls. We design, test and manufacture specialist products and
services to maximise the performance and capabilities of our
customers.
Avon Protection is the recognised global leader in advanced
Chemical, Biological, Radiological and Nuclear (CBRN) respiratory
protection systems for the world's Military, Law Enforcement and
Fire services.
milkrite | InterPuls is a global leader providing complete
milking point solutions to customers across the world with the aim
of improving every farm it touches.
For further information, please visit the Group's website:
www.avon-rubber.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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