⌘K
t
On 21 June 2022, discoverIE Group plc granted nil-consideration options over ordinary shares under its 2021 Long Term Incentive Plan. Group Chief Executive Nick Jefferies received 131,364 options, and Group Finance Director Simon Gibbins received a total of 85,989 options. These awards will vest on 23 June 2025, subject to performance targets measured over a three-year period, followed by an additional two-year holding period for vested options.
| Date | 22 Jun 2022 |
| Time | 09:58:17 |
| Category | Director/PDMR dealings |
| ID | 7834P |
22 June 2022
discoverIE Group plc
Director LTIP Award
discoverIE Group plc (LSE: DSCV, "discoverIE" or "the Company"), a leading international designer and manufacturer of customised electronics for industrial applications, announces that, on 21 June 2022, options were granted for nil consideration over the following numbers of ordinary shares in the Company ("Ordinary Shares"), under the 2021 discoverIE Group plc Long Term Incentive Plan ("LTIP") (the "Awards"):
|
Director/PDMR |
Number of Awards granted |
|
Nick Jefferies |
131,364 |
|
Simon Gibbins |
78,619 |
The Awards will vest on 23 June 2025, subject to the achievement of performance targets measured over a three-year period. Vested options will be subject to an additional two-year holding period.
In addition to the Awards, a further 7,370 options over Ordinary Shares were granted to Simon Gibbins in return for him bearing the Company's liability for the employers' National Insurance Contributions arising on exercise. The additional award ensures he is in a neutral position on an after-tax basis.
For further information, please contact:
discoverIE Group plc
Greg Davidson - Company Secretary 01483 544 500
Buchanan
Chris Lane, Toto Berger, Jack Devoy 020 7466 5000
discoverIE@buchanan.uk.com
Notes to Editors:
discoverIE Group plc is an international group of businesses that designs and manufactures innovative electronic components for industrial applications.
The Group provides application-specific components to original equipment manufacturers ("OEMs") internationally through its two divisions, Magnetics & Controls, and Sensing & Connectivity. By designing components that meet customers' unique requirements, which are then manufactured and supplied throughout the life of their production, a high level of repeating revenue is generated with long term customer relationships.
With a focus on sustainable key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, electrification of transportation and industrial automation & connectivity, the Group aims to achieve organic growth that is well ahead of GDP and to supplement that with complementary acquisitions. The Group has an ongoing commitment to reducing the impact of its operations on the environment and with its key markets aligned with a sustainable future, MSCI has awarded the Group an ESG "A" rating.
The Group employs c.4,900 people across 20 countries with its principal operating units located in Continental Europe, the UK, China, Sri Lanka, India and North America.
discoverIE is listed on the Main Market of the London Stock Exchange and is a member of the FTSE250, classified within the Electrical Components and Equipment subsector.
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name |
Nick Jefferies |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position / status |
Group Chief Executive |
||||
|
b) |
Initial notification / amendment |
Initial notification |
||||
|
3 |
Details of issuer |
|||||
|
a) |
Name |
discoverIE Group plc |
||||
|
b) |
LEI |
213800BMDLQU1VEEAN68 |
||||
|
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 the financial instrument, type of instrument
Identification code |
Options over Ordinary Shares
GB0000055888 |
||||
|
b) |
Nature of the transaction |
Award made pursuant to the Company's Long‐Term Incentive Plan |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information |
N/A |
||||
|
e) |
Date of the transaction |
21 June 2022 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name |
Simon Gibbins |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position / status |
Group Finance Director |
||||
|
b) |
Initial notification / amendment |
Initial notification |
||||
|
3 |
Details of issuer |
|||||
|
a) |
Name |
discoverIE Group plc |
||||
|
b) |
LEI |
213800BMDLQU1VEEAN68 |
||||
|
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 the financial instrument, type of instrument
Identification code |
Options over Ordinary Shares
GB0000055888 |
||||
|
b) |
Nature of the transaction |
Award made pursuant to the Company's Long‐Term Incentive Plan |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information |
N/A |
||||
|
e) |
Date of the transaction |
21 June 2022 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||