- Title:
Directors' Dealings - APSP Share Option awards - Time:
15:12:01 - Date:
23 Nov 2020 - Category:
Director/PDMR dealings - ID:
2189G
Norcros plc ("Norcros" or "the Company")
Directors' Dealings - APSP Share Option awards
Director/PDMR Shareholding
Norcros announces that the Board, following a recommendation from the Remuneration Committee, has granted new share options to the following Directors under the Company's Approved Performance Share Plan (the "APSP") on 23 November 2020.
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation ("MAR"), provide 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 the 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 certain EPS targets at the end of a three year performance period, starting with the 2021 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 |
| Nick Kelsall |
194,409 |
| Shaun Smith |
130,573 |
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 |
Nick Kelsall |
||||
| 2 |
Reason for the notification |
|||||
| a) |
Position/status |
Chief Executive Officer |
||||
| b) |
Initial notification /Amendment |
Initial notification |
||||
| 3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
| a) |
Name |
Norcros plc |
||||
| b) |
LEI |
213800EIMJZZA1GBIE18 |
||||
| 4 A
|
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 Share of 10 pence
GB00BYYJL418
|
||||
| b)
|
Nature of the transaction
|
Grant of 194,409 options under the Company's Approved Performance Share Plan (the "APSP") on 23 November 2020 |
||||
| c)
|
Price(s) and volume(s)
|
|
||||
| d)
|
Aggregated information - Aggregated volume - Price |
n/a n/a
|
||||
| e)
|
Date of the transaction
|
23 November 2020 |
||||
| f)
|
Place of the transaction
|
Wilmslow, Cheshire, England |
||||
| 1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
| a) |
Name |
Shaun Smith |
||||
| 2 |
Reason for the notification |
|||||
| a) |
Position/status |
Chief Financial Officer |
||||
| b) |
Initial notification /Amendment |
Initial notification |
||||
| 3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
| a) |
Name |
Norcros plc |
||||
| b) |
LEI |
213800EIMJZZA1GBIE18 |
||||
| 4 A
|
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 Share of 10 pence
GB00BYYJL418
|
||||
| b)
|
Nature of the transaction
|
Grant of 130,573 options under the Company's Approved Performance Share Plan (the "APSP") on 23 November 2020 |
||||
| c)
|
Price(s) and volume(s)
|
|
||||
| d)
|
Aggregated information - Aggregated volume - Price |
n/a n/a
|
||||
| e)
|
Date of the transaction
|
23 November 2020 |
||||
| f)
|
Place of the transaction
|
Wilmslow, Cheshire, England |
||||
Further enquiries:
| Norcros plc |
Tel: 01625 547 700 |
| Nick Kelsall, Chief Executive Officer Shaun Smith, Chief Financial Officer |
|
| |
|
| Hudson Sandler |
Tel: 0207 796 4133 |
| Nick Lyon Charlie Jack |
|
Directors' Dealings - APSP Share Option awards15:12:0123 Nov 2020Director/PDMR dealings2189G