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On 26 March 2025, Morgan Advanced Materials plc made conditional awards of 1,028,070 Ordinary Shares of 25p each to eight Persons Discharging Managerial Responsibilities (PDMRs) under its 2022 Long Term Incentive Plan (LTIP), at a price of GBP £2.072 per share, subject to performance-based vesting over three years. These included 356,166 shares for Damien Caby and 239,934 shares for Richard Armitage. Additionally, Pete Raby, Richard Armitage, and Damien Caby received conditional awards totaling 158,717 Ordinary Shares at the same price under the Deferred Bonus Plan, representing a mandatory deferral of their FY2024 cash bonus with an expected vesting date of 26 March 2028.
| Date | 27 Mar 2025 |
| Time | 16:06:56 |
| Category | Director/PDMR dealings |
| ID | 5664C |
27 March 2025
Morgan Advanced Materials plc
(the "Company")
Notification of transactions of Directors/Persons Discharging Managerial Responsibilities (PDMRs).
|
1 |
Details of the person discharging managerial responsibilities / persons closely associated |
|||||
|
a) |
Name |
Damien Caby |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
PDMR - CEO Designate and President, Thermal Products |
||||
|
b) |
Initial notification/Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Morgan Advanced Materials plc |
||||
|
b) |
LEI |
I4K14LL95N2PHDL7EG85 |
||||
|
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 |
Ordinary Shares of 25p each
GB0006027295 |
||||
|
b) |
Nature of the transaction |
Conditional award of shares under the Company's LTIP (Morgan Advanced Materials Share Plan 2022), vesting subject to performance conditions over a three-year period. |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
2025-03-26 |
||||
|
f) |
Place of the transaction |
Outside of trading venue. |
||||
|
1 |
Details of the person discharging managerial responsibilities / persons closely associated |
|||||
|
a) |
Name |
Richard Armitage |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
PDMR - CFO |
||||
|
b) |
Initial notification/Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Morgan Advanced Materials plc |
||||
|
b) |
LEI |
I4K14LL95N2PHDL7EG85 |
||||
|
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 |
Ordinary Shares of 25p each
GB0006027295 |
||||
|
b) |
Nature of the transaction |
Conditional award of shares under the Company's LTIP (Morgan Advanced Materials Share Plan 2022), vesting subject to performance conditions over a three-year period. |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
2025-03-26 |
||||
|
f) |
Place of the transaction |
Outside of trading venue. |
||||
|
1 |
Details of the person discharging managerial responsibilities / persons closely associated |
|||||
|
a) |
Name |
Maria Antoniou |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
PDMR - Group HR Director |
||||
|
b) |
Initial notification/Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Morgan Advanced Materials plc |
||||
|
b) |
LEI |
I4K14LL95N2PHDL7EG85 |
||||
|
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 |
Ordinary Shares of 25p each
GB0006027295 |
||||
|
b) |
Nature of the transaction |
Conditional award of shares under the Company's LTIP (Morgan Advanced Materials Share Plan 2022), vesting subject to performance conditions over a three-year period. |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
2025-03-26 |
||||
|
f) |
Place of the transaction |
Outside of trading venue. |
||||
|
1 |
Details of the person discharging managerial responsibilities / persons closely associated |
|||||
|
a) |
Name |
Paul Boulton |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
PDMR - Group General Counsel |
||||
|
b) |
Initial notification/Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Morgan Advanced Materials plc |
||||
|
b) |
LEI |
I4K14LL95N2PHDL7EG85 |
||||
|
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 |
Ordinary Shares of 25p each
GB0006027295 |
||||
|
b) |
Nature of the transaction |
Conditional award of shares under the Company's LTIP (Morgan Advanced Materials Share Plan 2022), vesting subject to performance conditions over a three-year period. |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
2025-03-26 |
||||
|
f) |
Place of the transaction |
Outside of trading venue. |
||||
|
1 |
Details of the person discharging managerial responsibilities / persons closely associated |
|||||
|
a) |
Name |
Desislava Jung |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
PDMR - Chief Information Officer |
||||
|
b) |
Initial notification/Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Morgan Advanced Materials plc |
||||
|
b) |
LEI |
I4K14LL95N2PHDL7EG85 |
||||
|
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 |
Ordinary Shares of 25p each
GB0006027295 |
||||
|
b) |
Nature of the transaction |
Conditional award of shares under the Company's LTIP (Morgan Advanced Materials Share Plan 2022), vesting subject to performance conditions over a three-year period. |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
2025-03-26 |
||||
|
f) |
Place of the transaction |
Outside of trading venue. |
||||
|
1 |
Details of the person discharging managerial responsibilities / persons closely associated |
|||||
|
a) |
Name |
Wendy Pryce Lewis |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
PDMR - President, Performance Carbon |
||||
|
b) |
Initial notification/Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Morgan Advanced Materials plc |
||||
|
b) |
LEI |
I4K14LL95N2PHDL7EG85 |
||||
|
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 |
Ordinary Shares of 25p each
GB0006027295 |
||||
|
b) |
Nature of the transaction |
Conditional award of shares under the Company's LTIP (Morgan Advanced Materials Share Plan 2022), vesting subject to performance conditions over a three-year period. |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
2025-03-26 |
||||
|
f) |
Place of the transaction |
Outside of trading venue. |
||||
|
1 |
Details of the person discharging managerial responsibilities / persons closely associated |
|||||
|
a) |
Name |
Aniruddha Karve |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
PDMR - Managing Director, Molten Metal Systems |
||||
|
b) |
Initial notification/Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Morgan Advanced Materials plc |
||||
|
b) |
LEI |
I4K14LL95N2PHDL7EG85 |
||||
|
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 |
Ordinary Shares of 25p each
GB0006027295 |
||||
|
b) |
Nature of the transaction |
Conditional award of shares under the Company's LTIP (Morgan Advanced Materials Share Plan 2022), vesting subject to performance conditions over a three-year period. |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
2025-03-26 |
||||
|
f) |
Place of the transaction |
Outside of trading venue. |
||||
|
1 |
Details of the person discharging managerial responsibilities / persons closely associated |
|||||
|
a) |
Name |
John Righini |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
PDMR - President, Technical Ceramics |
||||
|
b) |
Initial notification/Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Morgan Advanced Materials plc |
||||
|
b) |
LEI |
I4K14LL95N2PHDL7EG85 |
||||
|
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 |
Ordinary Shares of 25p each
GB0006027295 |
||||
|
b) |
Nature of the transaction |
Conditional award of shares under the Company's LTIP (Morgan Advanced Materials Share Plan 2022), vesting subject to performance conditions over a three-year period. |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
2025-03-26 |
||||
|
f) |
Place of the transaction |
Outside of trading venue. |
||||
|
1 |
Details of the person discharging managerial responsibilities / persons closely associated |
|||||
|
a) |
Name |
Pete Raby |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
PDMR - CEO |
||||
|
b) |
Initial notification/Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Morgan Advanced Materials plc |
||||
|
b) |
LEI |
I4K14LL95N2PHDL7EG85 |
||||
|
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 |
Ordinary Shares of 25p each
GB0006027295 |
||||
|
b) |
Nature of the transaction |
Mandatory deferral of a proportion of the cash bonus earned in respect of FY2024 into a conditional award of shares under the Company's Deferred Bonus Plan. The expected vesting date of the award is 26 March 2028 |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
2025-03-26 |
||||
|
f) |
Place of the transaction |
Outside of a trading venue. |
||||
|
1 |
Details of the person discharging managerial responsibilities / persons closely associated |
|||||
|
a) |
Name |
Richard Armitage |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
PDMR - CFO |
||||
|
b) |
Initial notification/Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Morgan Advanced Materials plc |
||||
|
b) |
LEI |
I4K14LL95N2PHDL7EG85 |
||||
|
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 |
Ordinary Shares of 25p each
GB0006027295 |
||||
|
b) |
Nature of the transaction |
Mandatory deferral of a proportion of the cash bonus earned in respect of FY2024 into a conditional award of shares under the Company's Deferred Bonus Plan. The expected vesting date of the award is 26 March 2028 |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
2025-03-26 |
||||
|
f) |
Place of the transaction |
Outside of a trading venue. |
||||
|
1 |
Details of the person discharging managerial responsibilities / persons closely associated |
|||||
|
a) |
Name |
Damien Caby |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
PDMR - CEO Designate and President, Thermal Products |
||||
|
b) |
Initial notification/Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Morgan Advanced Materials plc |
||||
|
b) |
LEI |
I4K14LL95N2PHDL7EG85 |
||||
|
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 |
Ordinary Shares of 25p each
GB0006027295 |
||||
|
b) |
Nature of the transaction |
Mandatory deferral of a proportion of the cash bonus earned in respect of FY2024 into a conditional award of shares under the Company's Deferred Bonus Plan. The expected vesting date of the award is 26 March 2028 |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction |
2025-03-26 |
||||
|
f) |
Place of the transaction |
Outside of a trading venue. |
||||
This notice is given in fulfilment of the obligation under DTR 3.1 and Article 19 of the UK Market Abuse Regulation.
For further enquiries, please contact:
Win Chime
Morgan Advanced Materials plc
Company.secretariat@morganplc.com