REG - Avon Technologies - Notification of LTIP & DSBP Awards

Avon TechnologiesAnnouncement

21/11/2025 10:00

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RNS Number : 5414I  Avon Technologies Plc  21 November 2025

 

Avon Technologies plc

21 November 2025

NOTIFICATION DEALING WITH GRANT OF AWARDS UNDER THE COMPANY'S LTIP AND DSBP

AVON TECHNOLOGIES PLC

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them.

LTIP Awards

On 19 November 2025 the following awards ("LTIP Awards") over ordinary
shares of £1 each in Avon Technologies plc were granted under
the Company's Long Term Incentive Plan ('LTIP') to the following person(s)
discharging managerial responsibilities:

 PDMR          Position                   Country of residence  No. of shares under LTIP Award
 Jos Sclater   Chief Executive Officer    UK                                     53,932
 Rich Cashin   Chief Financial Officer    UK                                     31,493
 Steve Elwell  President Avon Protection  UK                                     14,001
 James Wilcox  President Team Wendy       US                                     14,530

The LTIP Awards were granted as nil cost options for the three UK resident
PDMRs and as a conditional award for James Wilcox who is resident in the
US.  The LTIP Awards will ordinarily become exercisable from (or vest on as
relevant) 19 November 2028, subject to the grantee's continued service and the
Remuneration Committee's assessment of the extent to which the performance
conditions applicable to the LTIP Awards are satisfied.

Fifty percent of each LTIP Award is subject to a performance condition
relating to the Group's adjusted basic earnings per share ("EPS"). No portion
of the EPS element may vest unless the adjusted EPS for the financial year
ending 30 September 2028 ("FY28") is at least 130 US cents, for which 0% of
the EPS element may vest, rising on a straight-line basis to full vesting of
the EPS element for EPS of 160 US cents or better.

Thirty percent of each LTIP Award is subject to a performance condition
relating to the Group's return on invested capital ("ROIC"). No portion of the
ROIC element may vest unless the ROIC for FY28 is at least 20%, for which 0%
of the ROIC element may vest, rising on a straight-line basis to full vesting
of the ROIC element for ROIC of 24% or better.

The balance of each LTIP Award is subject to a performance condition relating
to total shareholder return ("TSR"). No portion of the TSR element may vest
unless TSR (as defined) is at least £22, for which 0% of the TSR element may
vest, rising on a straight-line basis to full vesting of the TSR element for
TSR of £26 or higher. TSR for the purposes of the TSR element is the average
of the closing prices for ordinary shares of the Company for dealing days in
the period 1 July 2028 to 30 September 2028 inclusive aggregated with the
value of the dividends with record dates in the period 1 October 2025 to 30
September 2028.

The Remuneration Committee retains a general discretion to reduce the extent
of vesting of an LTIP Award if it considers that the overall performance of
the Company or the grantee does not justify the level of vesting that would
otherwise apply.

The LTIP Awards to the Company's Executive Directors are subject to a two year
post vesting holding period on a net of tax basis.

Fuller details of the performance conditions applicable to the LTIP Awards
will be set out in the Company's Directors' Remuneration Report for the year
ending 30 September 2025.

DSBP Awards

On 19 November 2025 the following awards ("DSBP Awards") over ordinary
shares of £1 each in Avon Technologies plc were granted under
the Company's Deferred Share Bonus Plan ('DSBP') to the following person(s)
discharging managerial responsibilities:

 PDMR         Position                 Country of residence  No. of shares under DSBP Award
 Jos Sclater  Chief Executive Officer  UK                    9,305
 Rich Cashin  Chief Financial Officer  UK                    6,339

Rich Cashin

Chief Financial Officer

UK

6,339

The DSBP Awards relate to the deferral of one-quarter of annual bonus for FY25
in the form of a DSBP Award and were granted as nil cost options which will
ordinarily become exercisable from 19 November 2027.

The information set out below is provided in accordance with the requirements
of UK MAR.

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                                                         1.   Jos Sclater

                                                                  2.   Jos Sclater

                                                                  3.   Rich Cashin

                                                                  4.   Rich Cashin

                                                                  5.   Steve Elwell

                                                                  6.   James Wilcox
 2   Reason for Notification
 a)  Position/status                                              1.   Chief Executive Officer

                                                                  2.   Chief Executive Officer

                                                                  3.   Chief Financial Officer

                                                                  4.   Chief Financial Officer

                                                                  5.   President Avon Protection

                                                                  6.   President Team Wendy

 b)  Initial notification/Amendment                               Initial Announcement
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Avon Technologies 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 Technologies plc

     Identification code                                          GB0000667013
 b)  Nature of the transaction                                    1.   Grant of a nil cost option LTIP award

                                                                  2.   Grant of a nil cost option DSBP award

                                                                  3.   Grant of a nil cost option LTIP award

                                                                  4.   Grant of a nil cost option DSBP award

                                                                  5.   Grant of a nil cost option LTIP award

                                                                  6.   Grant of a conditional award LTIP award
 c)  Price(s) and volume(s)                                       Price(s)     Volume(s)
                                                                  1.   Nil     1.   53,932

                                                                  2.   Nil     2.   9,305

                                                                  3.   Nil     3.   31,493

                                                                  4.   Nil     4.   6,339

                                                                  5.   Nil     5.   14,001

                                                                  6.   Nil     6.   14,530
 d)  Aggregated information

     -       Aggregated volume                                    1 and 2 63,237

                                                                  3 and 4 37,832

                                                                  5 and 6 N/A single transaction

     -       Price                                                Nil in all cases

 e)  Date of the transaction                                      19 November 2025
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

-       Aggregated volume

 

 

-       Price

 

1 and 2 63,237

3 and 4 37,832

5 and 6 N/A single transaction

Nil in all cases

 

e)

Date of the transaction

19 November 2025

f)

Place of the transaction

Outside a trading venue

 

 

Enquiries:

 

Avon Technologies plc

Zoe Holland, Company
Secretary
01225 896 800

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