REG - Avon Protection PLC - Director/PDMR Shareholding

Avon ProtectionAnnouncement

30/01/2024 13:00

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RNS Number : 3982B  Avon Protection PLC  30 January 2024

Avon Protection plc

30 January 2024

 

NOTIFICATION OF PDMR DEALING

AVON PROTECTION PLC

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them in
accordance with the Market Abuse Regulations.

One-off share matching awards under the LTIP

On 26 January 2024 the following nil cost option awards over ordinary shares
of £1 each in Avon Protection plc were granted under the Avon Protection
plc. Long Term Incentive Plan ('LTIP') to the following persons discharging
managerial responsibilities:

 PDMR         Position                 No. of Shares under Award
 Jos Sclater  Chief Executive Officer  234,715
 Rich Cashin  Chief Financial Officer  159,903

The awards implement the one-off share matching arrangement element of the
Directors' Remuneration Policy detailed in the Company's latest Annual Report
and Accounts. The resolution approving the Directors' Remuneration Policy was
approved by shareholders at the Annual General Meeting held on 26 January 2024
with 97.45% of proxy votes lodged in favour.

In order to be eligible to receive the awards the CEO and CFO designated
72,230 and 46,969 of their previously purchased personal shares in the Company
respectively as 'investment shares' for the purposes of the awards.

The awards have associated normal vesting dates of the third anniversary of
their grant in respect of two-thirds of each award, and the fourth anniversary
of their grant date in respect of the balance of each award. The respective
parts of each award will ordinarily become exercisable subject to the
grantee's continued service through to the relevant normal vesting date and to
the extent that the awards' performance conditions are met.

The performance conditions attached to the awards relate to earnings per share
and return on invested capital targets set for the Company financial year
ending 30 September 2026. Full details of the performance conditions are set
out in the Directors' Remuneration Policy.

A post vesting holding period (net of sales for tax) will ordinarily apply in
relation to the awards through until the fifth anniversary of the grant of the
awards.

The information set out below is provided in accordance with the requirements
of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.

Details of the full notifications received by the Company are set out below.

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Jos Sclater
 2   Reason for Notification
 a)  Position/status                                              Chief Executive Officer
 b)  Initial notification/Amendment                               Initial Announcement
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Avon Protection plc
 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 of the financial instrument, type of instrument  Ordinary Shares of £1 each in Avon Protection plc

     Identification code                                          GB0000667013
 b)  Nature of the transaction                                    Grant of a nil cost option award under the Avon Protection plc Long Term
                                                                  Incentive Plan to implement the one-off share matching arrangement element of
                                                                  the Directors' Remuneration Policy detailed in in the Company's latest Annual
                                                                  Report and Accounts
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  Nil       234,715
 d)  Aggregated information

     -       Aggregated volume                                    N/A

                                                                  Nil

     -       Price
 e)  Date of the transaction                                      26 January 2024
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

-       Aggregated volume

 

-       Price

 

N/A

Nil

e)

Date of the transaction

26 January 2024

f)

Place of the transaction

Outside a trading venue

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Rich Cashin
 2   Reason for Notification
 a)  Position/status                                              Chief Financial Officer
 b)  Initial notification/Amendment                               Initial Announcement
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Avon Protection plc
 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 of the financial instrument, type of instrument  Ordinary Shares of £1 each in Avon Protection plc

     Identification code                                          GB0000667013
 b)  Nature of the transaction                                    Grant of a nil cost option award under the Avon Protection plc Long Term
                                                                  Incentive Plan to implement the one-off share matching arrangement element of
                                                                  the Directors' Remuneration Policy detailed in in the Company's latest Annual
                                                                  Report and Accounts
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  Nil       159,903
 d)  Aggregated information

     -       Aggregated volume                                    N/A

                                                                  Nil

     -       Price
 e)  Date of the transaction                                      26 January 2024
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

-       Aggregated volume

 

-       Price

 

N/A

Nil

e)

Date of the transaction

26 January 2024

f)

Place of the transaction

Outside a trading venue

 

Enquiries:

 

Avon Protection plc

Miles Ingrey-Counter, Company
Secretary
01225 896 850

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