REG-Convatec Group PLC Convatec Group PLC: Director/PDMR Shareholding
27/02/2023 09:00
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Convatec Group PLC (CTEC)
Convatec Group PLC: Director/PDMR Shareholding
27-Feb-2023 / 09:00 GMT/BST
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27 February 2023
Convatec Group Plc
("Convatec" or "the Company")
Director/ PDMR Shareholding
This announcement provides information on PDMR dealings under the
Company’s Long Term Incentive Plan ‘LTIP’ that took place in the course of
2022.
On 14 March 2022, an award granted to Karim Bitar on 30 September 2019
under the Company’s LTIP vested automatically in relation to 495,336
shares. This award was granted as part of Karim’s compensation for the
loss of incentive awards on his appointment to Convatec.
On the same date, pursuant to the default application of the LTIP rules,
233,450 of these shares were automatically sold on Mr Bitar’s behalf to
cover the income tax liability arising in connection with the vesting of
the award.
Further, on 30 September 2022, a conditional award granted to Karim Bitar
on 30 September 2019 under the LTIP vested automatically in relation to
146,488 shares.
On the same date, pursuant to the default application of the LTIP rules,
70,876 of these shares were automatically sold on Mr Bitar’s behalf to
cover the income tax liability arising in connection with the vesting of
the award. The balance of these shares are subject to a two year holding
period expiring in September 2024.
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 Karim Bitar
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 Convatec Group Plc
b) LEI 213800LS272L4FIDOH92
Details of the transaction(s): section to be repeated for (i) each type
4 of instrument; (ii) each type of transaction; (iii) each date; and (iv)
each place where transactions have been conducted
Ordinary share of 10p each in Convatec
Description of the financial Group Plc
a) instrument, type of instrument
Identification code
GB00BD3VFW73
Vesting of share award pursuant to the
Company’s LTIP, granted on 30 September
2019
b) Nature of the transaction
Volume(s)
Price(s)
c) Price(s) and volume(s) 495,336
N/A
Aggregated information
d) - Aggregated volume N/A
- Price N/A
e) Date of the transaction 2022-03-14
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Karim Bitar
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 Convatec Group Plc
b) LEI 213800LS272L4FIDOH92
Details of the transaction(s): section to be repeated for (i) each type
4 of instrument; (ii) each type of transaction; (iii) each date; and (iv)
each place where transactions have been conducted
Ordinary share of 10p each in Convatec
Description of the financial Group Plc
a) instrument, type of instrument
Identification code
GB00BD3VFW73
Sale of shares arising from the vesting
b) Nature of the transaction of the 2019 LTIP, to meet income tax
and social security liabilities due on
vesting
Price(s) Volume(s)
c) Price(s) and volume(s)
£1.79 233,450
Aggregated information
d) - Aggregated volume N/A
- Price N/A
e) Date of the transaction 2022-03-14
f) Place of the transaction London Stock Exchange
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Karim Bitar
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 Convatec Group Plc
b) LEI 213800LS272L4FIDOH92
Details of the transaction(s): section to be repeated for (i) each type
4 of instrument; (ii) each type of transaction; (iii) each date; and (iv)
each place where transactions have been conducted
Ordinary share of 10p each in Convatec
Description of the financial Group Plc
a) instrument, type of instrument
Identification code
GB00BD3VFW73
Vesting of conditional share award
pursuant to the Company’s LTIP, granted
b) Nature of the transaction on 30 September 2019
Price(s) Volume(s)
c) Price(s) and volume(s)
N/A 146,488
Aggregated information
d) - Aggregated volume N/A
- Price N/A
e) Date of the transaction 2022-09-30
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Karim Bitar
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 Convatec Group Plc
b) LEI 213800LS272L4FIDOH92
Details of the transaction(s): section to be repeated for (i) each type
4 of instrument; (ii) each type of transaction; (iii) each date; and (iv)
each place where transactions have been conducted
Ordinary share of 10p each in Convatec
Description of the financial Group Plc
a) instrument, type of instrument
Identification code
GB00BD3VFW73
Sale of shares arising from the vesting
b) Nature of the transaction of the 2019 LTIP, to meet income tax
and social security liabilities due on
the exercise
Price(s) Volume(s)
c) Price(s) and volume(s)
£2.03 70,876
Aggregated information
d) - Aggregated volume N/A
- Price N/A
e) Date of the transaction 2022-09-30
f) Place of the transaction London Stock Exchange
Enquiries
Louise Bryson, Assistant Company
Secretary +44(0)7423 694919
Cosec@convatec.com
Convatec Group Plc’s LEI code is 213800LS272L4FIDOH92
About Convatec
Pioneering trusted medical solutions to improve the lives we touch:
Convatec is a global medical products and technologies company, focused on
solutions for the management of chronic conditions, with leading positions
in advanced wound care, ostomy care, continence and critical care, and
infusion care. With around 10,000 colleagues, and a promise to be forever
caring, our products and services are available in over 100 countries. Our
solutions provide a range of benefits, from infection prevention and
protection of at-risk skin, to improved patient outcomes and reduced care
costs. The company is a constituent of the FTSE 100 Index (LSE:CTEC) and
in 2021 revenues were over $2 billion. To learn more about Convatec,
please visit 1 http://www.convatecgroup.com
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Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
══════════════════════════════════════════════════════════════════════════
ISIN: GB00BD3VFW73
Category Code: DSH
TIDM: CTEC
LEI Code: 213800LS272L4FIDOH92
OAM Categories: 3.1. Additional regulated information required to be
disclosed under the laws of a Member State
Sequence No.: 225793
EQS News ID: 1568613
End of Announcement EQS News Service
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