REG - Coats Group PLC - Director/PDMR Shareholding
17/03/2025 14:15
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RNS Number : 9823A Coats Group PLC 17 March 2025
17 March 2025
Coats Group plc
Director/PDMR Shareholding
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name David Paja
2 Reason for the notification
a) Position/status Chief Executive Officer and Executive Director
b) Initial notification/Amendment Initial notification
3 Details of the issuer, UK emission allowance market participant, auction
platform or auctioneer
a) Name Coats Group plc
b) LEI 2138003SPYWGAITNFY17
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 Share award constituting a right to acquire Ordinary shares of £0.05
Identification code GB00B4YZN328
b) Nature of the transaction 1. Award of nil cost share options under the terms of the Coats Group plc
Deferred Annual Bonus Plan ("DABP") as set out below:
The DABP awards represent a proportion of the annual bonus awarded for the
year ended 31 December 2024 and vest after 3 years from the date of the
award. DABP awards are not subject to performance conditions, as the bonus
targets in respect of 2024 have already been met, but awards are subject to
certain forfeiture and clawback provisions in certain situations such as
personal misconduct or a misstatement of results.
2. Award of nil cost share options under the terms of the Coats Group plc Long
Term Incentive Plan ("LTIP") the performance conditions are set out in the
attached Appendix 1.
c) Price(s) and volume(s) Price(s) Volume(s)
1) DABP Nil 220,210
2) LTIP Nil 1,541,472
d) Aggregated information
· - Aggregated volume 1,761,682
· - Price n/a
e) Date of the transaction 2025-03-14
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Jacqueline Callaway
2 Reason for the notification
a) Position/status Chief Financial Officer and Executive Director
b) Initial notification/Amendment Initial notification
3 Details of the issuer, UK emission allowance market participant, auction
platform or auctioneer
a) Name Coats Group plc
b) LEI 2138003SPYWGAITNFY17
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 Share award constituting a right to acquire Ordinary shares of £0.05
Identification code GB00B4YZN328
b) Nature of the transaction 1. Award of nil cost share options under the terms of the Coats Group plc
Deferred Annual Bonus Plan ("DABP") as set out below:
The DABP awards represent a proportion of the annual bonus awarded for the
year ended 31 December 2024 and vest after 3 years from the date of the
award. DABP awards are not subject to performance conditions, as the bonus
targets in respect of 2024 have already been met, but awards are subject to
certain forfeiture and clawback provisions in certain situations such as
personal misconduct or a misstatement of results.
c) Price(s) and volume(s) Price(s) Volume(s)
1) DABP Nil 2
9
0
,
3
7
5
d) Aggregated information
· - Aggregated volume 290,375
· - Price n/a
e) Date of the transaction 2025-03-14
f) Place of the transaction Outside a trading venue
Enquiry details
Investors Anjali Kotak Coats Group plc +44 (0)7880 471350
Media Richard Mountain / Nick Hasell FTI Consulting +44 (0)20 3727 1374
Appendix 1
Coats Group plc - 2025 Long Term Incentive Award - Performance Schedule
Introduction
The following schedule sets out the performance conditions that will apply to
the 2025 Coats Group PLC Long Term Incentive award. The performance period is
1 January 2025 to 31 December 2027.
Performance Measures & Weighting
The award has four performance measures and is weighted as set out below.
Measure Weighting Definition(1)
(% of total award)
Coats Group plc Earnings Per Share Compound Annual Growth (CAGR) 30% The Compound Annual Growth (CAGR) in EPS achieved in the performance period.
The Board will consider the CAGR in Normalised EPS which is EPS, adjusted to
exclude exceptional items such as property gains or losses and the impact of
IAS19 charges (pensions finance) .
Average Cash Conversion over 3-years (Cash) 20% The average of the adjusted Free Cash Flow divided by normalised Attributable
Profit for each of the three years in the performance period. The adjusted
Free Cash Flow is after maintaining the company's asset base ie operating cash
flow minus capital expenditures, adjusted for exceptional items such as
property gains or losses.
Total Shareholder Return 25% The total returns to shareholders which includes share price growth and
ordinary dividend payments. The performance condition is measured against a
comparator group consisting of the FTSE250 minus investment trusts.
Sustainability 25% Achievement of 3 independent equally weighted Sustainability goals.
TOTAL 100%
1. Subject to such adjustments as required by the Committee to ensure
the performance condition fulfils its original intent.
Performance Targets and Vesting Schedule
EPS CAGR (adjusted if necessary) Threshold Maximum
EPS CAGR in the period from 2025-2027. Measured from the 2024 base year 4% 12%
Vesting (The proportion of the award for this measure that vests) 25% 100%
Average Cash Conversion Threshold Maximum
Average Cash Conversion over the period 2025 to 2027 70% 90%
Vesting (The proportion of the award for this measure that vests) 25% 100%
Total Shareholder Return Threshold Maximum
Ranking Position vs FTSE250 (excluding investment trusts) Median Upper Quartile
Vesting (The proportion of the award for this measure that vests) 25% 100%
Sustainability Threshold Maximum
Absolute reduction in Scope 1&2 emissions in tonnes from 2019 baseline 55% 65%
Absolute reduction in Scope 3 emissions in tonnes from 2019 baseline 22% 26%
Percentage of females in senior leadership roles 33% 37%
Vesting (The proportion of the award for this measure that vests) 25% 100%
There is a proportionate straight-line vesting for performance between each of
the targets shown above.
The range of performance targets have been set with reference to internal
planning and external market expectations for the Company's future performance
and are considered similarly challenging to the targets set in prior years
allowing for current market conditions. The Committee would consider
appropriate adjustments to the financial performance targets to extent the
Company undertook material acquisitions or divestments, or share buybacks,
during the period from 1 January 2025 to 31 December 2027.
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