REG - Avon Rubber PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">AVON.L</Origin>

Avon TechnologiesAnnouncement

17/11/2016 17:10

RNS Number : 5095P
Avon Rubber PLC
17 November 2016
17 November 2016
Avon Rubber p.l.c. ('the Company')
Directors' and PDMRs' Interest in Shares
As previously announced to shareholders on 1 December 2014, a portion of the annual bonus payments due to the Executive Director, Andrew Lewis and certain PDMRs of the Company in respect of the 2013/14 financial year were deferred into Company shares, to be held for two years.
On 16 November 2016, following expiry of the deferral period, the 2014 deferred bonus shares were released to Andrew Lewis and certain PDMRs, who sold these shares at a price of 1045 pence per share. The number of shares sold by each individual is set out in the table below. Deferred bonus shares are not subject to the Company's shareholding guidelines.
Executive Director
Number of 2013/14
deferred bonus shares sold on 16 November 2016
Andrew Lewis
5,710
PDMRs
Miles Ingrey-Counter
1,824
Paul McDonald
1,809
John Kime
2,600
In addition, the 3,241 deferred bonus shares held for Andrew Lewis in respect of the 2014/15 financial year were converted into cash to be held until November 2017 pursuant to the Company's deferred bonus arrangements. Andrew Lewis and PDMR Sarah Matthews-DeMers each also sold 1,225 shares held pursuant to the Company's Share Incentive Plan on 16 November 2016 at a price of 1030 pence per share.
2015/16 deferred bonus arrangements
A portion of the annual bonus payments due to the Executive Director, Rob Rennie and certain PDMRs of the Company in respect of the 2015/16 financial year were deferred into Company shares on 16 November 2016. 25% of the annual bonus linked to financial targets, as distinct from personal performance targets, was subjected to tax and national insurance/social security and the net amount was used to purchase Company shares. The shares are to be held for two years and are not subject to the Company's shareholding guidelines. 
The table below sets out the number of deferred bonus shares and the total number of shares held by the Executive Directors and each PDMR following the transactions detailed above. 
Executive Director
2015/16 deferred bonus shares
Total shareholding (including deferred bonus shares)
Rob Rennie
2,081
14,238
Andrew Lewis
-
50,000
PDMRs
Miles Ingrey-Counter
365
17,146
Paul McDonald
392
16,164
John Kime
710
20,222
Sarah Matthews-DeMers
-
3,163

This information is provided by RNS
The company news service from the London Stock Exchange
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