REG - Carr's Group PLC - Director/PDMR Shareholding

Carr'sAnnouncement

24/01/2024 07:15

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RNS Number : 6808A  Carr's Group PLC  24 January 2024

 

24 January 2024

 

Carr's Group plc

("Carr's", the "Company", or the "Group")

Director/PDMR Shareholdings

 

Carr's (CARR.L), the Speciality Agriculture and Engineering Group, announces
that the following awards of options ("Options") were made on 22 January 2024
("Award Date"), pursuant to the Company's Long Term Incentive Plan 2023 (the
"LTIP"), to certain PDMRs over ordinary shares in the Company of 2.5p each
("Ordinary Shares"):

 PDMR         Number of Ordinary Shares
 David White  267,834

The Options were awarded for nil-cost subject to the rules of the LTIP and
will be exercisable from the third anniversary of the Award Date to the tenth
anniversary of the Award Date.

Vesting of the Options is subject to performance targets based upon the
Company's adjusted Earnings Per Share ("EPS") and Total Shareholder Return
("TSR") over a three-year performance period covering the financial years
2023/24, 2024/25 and 2025/26 ("Performance Period") as follows:

Adjusted EPS (75% weighting)

          Threshold                                 Maximum
 Target   5% average annual growth in adjusted EPS  14% average annual growth in adjusted EPS
 Vesting  25%                                       100%

TSR (25% weighting)

          Threshold                         Maximum
 Target   7% compound annual growth in TSR  16% compound annual growth in TSR
 Vesting  25%                               100%

Vesting is adjusted on a straight-line basis between threshold and maximum
targets.  Growth in adjusted EPS is calculated from a base adjusted EPS of
6.2p.  Growth in TSR is measured by comparing the Company's average TSR over
each of the three-month periods ending on: (i) the day before the start of the
Performance Period; and (ii) the final day of the Performance Period.

 

The following information is included in accordance with Article 19(3) of the
Market Abuse Regulation (No. 596/2014):

 

 1  . Details of the person discharging managerial responsibilities/person closely
   associated
 a) Name                                                         2. David White
 2  . Reason for the notification
 a) Position/status                                              1. 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                                                         Carr's Group plc
 b) LEI                                                          213800HTIKPQV98RA653
 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 £0.025 each
 b) Identification Code                                          GB00BRK01058
 c) Nature of transactions                                       Grant of award pursuant to the Company's Long Term Incentive Plan 2023
 d) Price(s) and Volume(s)                                       Price(s)                                                              Volume(s)

                                                                 1. Nil-Cost                                                           267,834
 e) Aggregated information:                                      N/A

 i. Aggregated volume

 ii. price
 f)    Date of the transaction                                   22 January 2024
 g)   Place of the transaction                                   Outside trading venue

a) Name

2. David White

 2  . Reason for the notification

a) Position/status

 

1. 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

Carr's Group plc

b) LEI

213800HTIKPQV98RA653

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 £0.025 each

b) Identification Code

GB00BRK01058

c) Nature of transactions

Grant of award pursuant to the Company's Long Term Incentive Plan 2023

d) Price(s) and Volume(s)

Price(s)

1. Nil-Cost

Volume(s)

267,834

e) Aggregated information:

i. Aggregated volume

ii. price

N/A

f)    Date of the transaction

22 January 2024

g)   Place of the transaction

Outside trading venue

 

Enquiries:

 Carr's Group plc                          01228 554 600

Ian Wood (Remuneration Committee Chair)

 Justin Richards (Company Secretary)

 

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