REG - Avon Protection PLC - Notification of PDMR Dealing
20/10/2023 15:00
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RNS Number : 8554Q Avon Protection PLC 20 October 2023
Avon Protection plc
20 October 2023
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.
LTIP awards
On 19 October 2023 the following awards over ordinary shares of £1 each
in Avon Protection plc were granted under the Avon Rubber p.l.c. Long Term
Incentive Plan ('LTIP') to the following person(s) discharging managerial
responsibilities:
PDMR Position Country of residence No. of Shares under Award I No. of Shares under Award II
James Wilcox President Head Protection US 47,980 11,387
Steve Elwell President Respiratory Protection UK 42,633 6,848
Paul Hamilton President of Operational Excellence and Continuous Improvement US 42,892 2,796
Miles Ingrey-Counter General Counsel and Company Secretary UK 41,336 10,482
The awards were granted as nil cost options for the two UK resident PDMRs and
as conditional awards for the two PDMRs who are resident in the US.
In respect of the awards noted as Award I above: such nil cost option awards
will ordinarily become exercisable and the conditional awards will ordinarily
vest on 19 October 2026, subject to the grantee's continued service and the
Remuneration Committee's assessment of the extent to which the performance
conditions applicable to the awards are satisfied. The performance conditions
attached to such awards have an underlying performance period of three
financial years of the Company (commencing with the current financial year)
and relate to measures of profit after tax and return on invested capital.
In respect of the awards noted as Award II above: such nil cost option awards
will ordinarily become exercisable and the conditional awards will ordinarily
vest on 19 October 2026, subject to the grantee's continued service and
satisfactory personal performance.
In respect of both types of award the Remuneration Committee retains a general
discretion under the rules of the LTIP to adjust the extent of vesting that
would otherwise apply to take into account such factors as it considers
relevant (including, but not limited to, the overall performance of the
Company, any Group Member or the grantee).
Part waiver and cancellation of certain LTIP awards
On 19 October 2023 the following person(s) discharging managerial
responsibilities waived awards granted to them under the LTIP in 2021 and 2022
in respect of the number of ordinary shares of £1 each in Avon Protection plc
as summarised below:
PDMR Position Country of residence No. of Shares waived under 02.02.21 LTIP Award No. of Shares waived under 01.02.22 LTIP Award
James Wilcox President Head Protection US 10,624 12,151
Steve Elwell President Respiratory Protection UK 4,198 9,498
Paul Hamilton President of Operational Excellence and Continuous Improvement US - 5,592
Miles Ingrey-Counter General Counsel and Company Secretary UK 10,316 10,648
The aforementioned waivers equated to one half of the total number of Shares
in respect of which such awards were ordinarily granted which had associated
earnings per share performance conditions attached.
The balance of the awards remains intact and continues to be capable of
vesting on the associated third anniversary of the grant, subject to the
grantee's continued service and to the extent to which the original total
shareholder related performance conditions attached to such remaining balance
of such awards are met.
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 Steve Elwell
2 Reason for Notification
a) Position/status President Respiratory Protection
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 two nil cost option awards under the Avon Rubber p.l.c. Long Term
Incentive Plan.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 42,633
Nil 6,848
d) Aggregated information
- Aggregated volume 49,481
- Price Nil
e) Date of the transaction 19 October 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
49,481
Nil
e)
Date of the transaction
19 October 2023
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Miles Ingrey-Counter
2 Reason for Notification
a) Position/status General Counsel and Company Secretary
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 two nil cost option awards under the Avon Rubber p.l.c. Long Term
Incentive Plan.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 41,336
Nil 10,482
d) Aggregated information
- Aggregated volume 51,818
- Price Nil
e) Date of the transaction 19 October 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
51,818
Nil
e)
Date of the transaction
19 October 2023
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name James Wilcox
2 Reason for Notification
a) Position/status President Head Protection
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 two conditional awards under the Avon Rubber p.l.c. Long Term
Incentive Plan.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 47,980
Nil 11,387
d) Aggregated information
- Aggregated volume 59,367
- Price Nil
e) Date of the transaction 19 October 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
59,367
Nil
e)
Date of the transaction
19 October 2023
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Paul Hamilton
2 Reason for Notification
a) Position/status President of Operational Excellence and Continuous Improvement
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 two conditional awards under the Avon Rubber p.l.c. Long Term
Incentive Plan.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 42,892
Nil 2,796
d) Aggregated information
- Aggregated volume 45,688
- Price Nil
e) Date of the transaction 19 October 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
45,688
Nil
e)
Date of the transaction
19 October 2023
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Steve Elwell
2 Reason for Notification
a) Position/status President Respiratory
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 Part surrender of 2021 and 2023 awards under the Avon Rubber p.l.c. Long Term
Incentive Plan.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 4,198
Nil 9,498
d) Aggregated information
- Aggregated volume 13,696
- Price Nil
e) Date of the transaction 19 October 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
13,696
Nil
e)
Date of the transaction
19 October 2023
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Miles Ingrey-Counter
2 Reason for Notification
a) Position/status General Counsel and Company Secretary
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 Part surrender of 2021 and 2023 awards under the Avon Rubber p.l.c. Long Term
Incentive Plan.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 10,316
Nil 10,648
d) Aggregated information
- Aggregated volume 20,964
- Price Nil
e) Date of the transaction 19 October 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
20,964
Nil
e)
Date of the transaction
19 October 2023
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name James Wilcox
2 Reason for Notification
a) Position/status President Head Protection
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 Part surrender of 2021 and 2023 awards under the Avon Rubber p.l.c. Long Term
Incentive Plan.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 10,624
Nil 12,151
d) Aggregated information
- Aggregated volume 22,775
- Price Nil
e) Date of the transaction 19 October 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
22,775
Nil
e)
Date of the transaction
19 October 2023
f)
Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Paul Hamilton
2 Reason for Notification
a) Position/status President of Operational Excellence and Continuous Improvement
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 Part surrender of 2021 and 2023 awards under the Avon Rubber p.l.c. Long Term
Incentive Plan.
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 5,592
d) Aggregated information
- Aggregated volume 5,592
- Price
e) Date of the transaction 19 October 2023
f) Place of the transaction Outside a trading venue
d)
Aggregated information
- Aggregated volume
- Price
5,592
e)
Date of the transaction
19 October 2023
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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