REG-Convatec Group PLC Convatec Group PLC: Director/PDMR Shareholding
17/03/2023 10:45
============
Convatec Group PLC (CTEC)
Convatec Group PLC: Director/PDMR Shareholding
17-March-2023 / 10:30 GMT/BST
══════════════════════════════════════════════════════════════════════════
17 March 2023
Convatec Group Plc
(“Convatec” or “the Company”)
Director/ PDMR Shareholding
The Company has been notified of the following transactions in relation to
Persons Discharging Managerial Responsibility (“PDMR”) in respect of
ordinary shares of 10 pence each in the Company (“Shares”).
On 15 March 2023, awards were granted to Karim Bitar, the Company’s Chief
Executive Officer and Jonny Mason, the Company’s Chief Financial Officer,
under the Company’s Deferred Bonus Plan (“DBP”) in the form of restricted
stock units (“RSUs”), which are due to vest on the third anniversary of
grant and are not subject to performance conditions:
Karim Bitar: 201,937
Jonny Mason: 99,826
Further, on the same date, Karim Bitar and Jonny Mason were granted awards
under the Company’s Long-Term Incentive Plan (“LTIP”) in the form of
Performance Share Units (“PSUs”). These awards are due to vest on the
third anniversary of grant, conditional on the following performance
conditions: organic revenue growth, adjusted profit before tax growth,
total shareholder return; and subject to a two-year post vesting holding
period. Further details of the LTIP and performance conditions will be
detailed in the Company’s 2022 Annual Report.
Karim Bitar: 1,041,628
Jonny Mason: 565,610
The three-day average share price, closing on 14 March 2023 of £2.21 was
used in determining the awards.
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 and PDMR
b) Initial Initial notification
notification/Amendment
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
Description of the financial Ordinary share of 10p each in Convatec
instrument, type of Group Plc
a) instrument
Identification code
GB00BD3VFW73
1. Grant of RSUs under the DBP, subject
to a time-based vesting period of
three years and continued employment.
2. Grant of PSUs under the LTIP subject
b) Nature of the transaction to (i) vesting period of three years
(ii) performance conditions based on a
combination of organic revenue growth,
adjusted profit before tax growth and
total shareholder return (iii) two
year post vesting holding period.
Volume(s)
Price(s)
c) Price(s) and volume(s) 1. 201,937
1. n/a 2. 1,041,628
2. n/a
Aggregated information
d) - Aggregated volume N/A
- Price N/A
e) Date of the transaction 2023-03-15
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Jonny Mason
2 Reason for the notification
a) Position/Status Chief Financial Officer and PDMR
b) Initial Initial notification
notification/Amendment
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
Description of the financial Ordinary share of 10p each in Convatec
instrument, type of Group Plc
a) instrument
Identification code
GB00BD3VFW73
1. Grant of RSUs under the DBP, subject
to a time-based vesting period of
three years and continued employment.
2. Grant of PSUs under the LTIP subject
b) Nature of the transaction to (i) vesting period of three years
(ii) performance conditions based on a
combination of organic revenue growth,
adjusted profit before tax growth and
total shareholder return (iii) two
year post vesting holding period.
Volume(s)
Price(s)
c) Price(s) and volume(s) 1. 99,826
1. n/a 2. 565,610
2. n/a
Aggregated information
d) - Aggregated volume N/A
- Price N/A
e) Date of the transaction 2023-03-15
f) Place of the transaction Outside a trading venue
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, we provide our products and
services in almost 100 countries, united by a promise to be forever
caring. Our solutions provide a range of benefits, from infection
prevention and protection of at-risk skin, to improved patient outcomes
and reduced care costs. Group revenues in 2022 were over $2 billion. The
company is a constituent of the FTSE 100 Index (LSE:CTEC). To learn more
about Convatec, please visit 1 http://www.convatecgroup.com.
══════════════════════════════════════════════════════════════════════════
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
Sequence No.: 230778
EQS News ID: 1585605
End of Announcement EQS News Service
══════════════════════════════════════════════════════════════════════════
2 fncls.ssp?fn=show_t_gif&application_id=1585605&application_name=news&site_id=reuters8
References
Visible links
1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=26f8de477e9a42123589f91471356e0b&application_id=1585605&site_id=reuters8&application_name=news
============Recent news on ConvaTec
See all newsREG - Convatec Group PLC - Holding(s) in Company
AnnouncementREG - Convatec Group PLC - Holding(s) in Company
AnnouncementREG - Convatec Group PLC - Holding(s) in Company
AnnouncementREG - Convatec Group PLC - Convatec responds to LCDs postponement in US
AnnouncementREG - Convatec Group PLC - Holding(s) in Company
Announcement