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

Avon TechnologiesAnnouncement

24/11/2017 16:42

RNS Number : 5117X
Avon Rubber PLC
24 November 2017
24 November 2017
Avon Rubber p.l.c. ('the Company')
Directors' and PDMRs' Interest in Shares
Release of 2015 deferred bonus shares
As previously announced to shareholders on 19 November 2015, a portion of the annual bonus payments due to PDMR and now Chief Executive Officer, Paul McDonald and PDMR, Miles Ingrey-Counter, in respect of the 2015 financial year were deferred into Company shares, to be held for two years.
On 23 November 2017, following expiry of the deferral period, 1,272 deferred bonus shares were released to Paul McDonald and 1,057 to Miles Ingrey-Counter. Paul McDonald sold these shares at a price of 1176 pence per share on 23 November 2017. Deferred bonus shares are not subject to the Company's shareholding guidelines.
1
Details of person discharging managerial responsibilities/person closely associated
a)
Name
Paul McDonald
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
Avon Rubber p.l.c.
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
and ISIN Code
Ordinary 1 shares in Avon Rubber p.l.c.
GB0000667013
b)
Nature of the
transaction
Sale of shares. Following expiry of the deferral period, the 2015 deferred bonus shares purchased on 18 November 2015 were released to and were sold by Paul McDonald.
c)
Price(s) and
volume(s)
Price(s)
11.76
Volume(s)
1,272


d)
Aggregated Information
- Aggregated volume
- Aggregated price
- Aggregated total
1,272
GBP 11.76
GBP 14,958.72
e)
Date of the
transaction
2017-11-23
f)
Place of the
transaction
London Stock Exchange (XLON)
1
Details of person discharging managerial responsibilities/person closely associated
b)
Name
Miles Ingrey-Counter
2
Reason for the notification
c)
Position / status
Company Secretary
d)
Initial notification /
amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
c)
Name
Avon Rubber p.l.c.
d)
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
g)
Description of the
financial instrument
and ISIN Code
Ordinary 1 shares in Avon Rubber p.l.c.
GB0000667013
h)
Nature of the
transaction
Following expiry of the deferral period, the 2015 deferred bonus shares purchased on 18 November 2015 were released to Miles Ingrey-Counter on 23 November 2017.
i)
Price(s) and
volume(s)
 Price(s)
N/A
Volume(s)
1,057


j)
Aggregated Information
- Aggregated volume
- Aggregated price
- Aggregated total
1,057
GBP N/A
GBP N/A
k)
Date of the
transaction
Date shares released to Miles Ingrey-Counter: 2017-11-23
l)
Place of the
transaction
London Stock Exchange (XLON)
2017 deferred bonus arrangements
A portion of the annual bonus payments due to the Executive Directors, Paul McDonald and Nick Keveth and certain PDMRs of the Company in respect of the 2017 financial year were deferred into Company shares on 23 November 2017. 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 2017 deferred bonus shares held by the Executive Directors and each PDMR following this transaction. 
1
Details of person discharging managerial responsibilities/person closely associated
c)
Name
1) Paul McDonald
2) Nicholas Keveth
3) Miles Ingrey-Counter
4) Leon Klapwijk
5) Craig Sage
2
Reason for the notification
e)
Position / status
1) Chief Executive Officer
2) Chief Financial Officer
3) Company Secretary
4) Divisional Head - Protection
5) Divisional Head - Dairy
f)
Initial notification /
amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
e)
Name
Avon Rubber p.l.c.
f)
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
m)
Description of the
financial instrument
and ISIN Code
Ordinary 1 shares in Avon Rubber p.l.c.
GB0000667013
n)
Nature of the
transaction
Acquisition of shares. A portion of the annual bonus payments in respect of the 2016/17 financial year were deferred into Company shares on 23 November 2017. 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. 
o)
Price(s) and
volume(s)
Price(s)
Volume(s)
1) GBP 11.76
2) GBP 11.76
3) GBP 11.76
4) GBP 11.76
5) GBP 11.76
1) 1,443
2) 364
3) 1,063
4) 485
5) 367
p)
Aggregated Information
1)
- Aggregated volume
- Aggregated price
- Aggregated total
2)
- Aggregated volume
- Aggregated price
- Aggregated total
3)
- Aggregated volume
- Aggregated price
- Aggregated total
4)
- Aggregated volume
- Aggregated price
- Aggregated total
5)
- Aggregated volume
- Aggregated price
- Aggregated total
1,443
GBP 11.76
GBP 16,969.68
364
GBP 11.76
GBP 4,280.64
1,063
GBP 11.76
GBP 12,500.88
485
GBP 11.76
GBP 5,703.60
367
GBP 11.76
GBP 4,315.92
q)
Date of the
transactions
All occurred on 2017-11-23
r)
Place of the
transaction
London Stock Exchange (XLON)
LEI: 213800JM1AN62REBWA71
Classification: Transactions by PDMRs under article 19 of the Market Abuse Regulation.

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