REG-Convatec Group PLC Convatec Group PLC: Director/ PDMR Shareholding
12/03/2024 16:15
============
Convatec Group PLC (CTEC)
Convatec Group PLC: Director/ PDMR Shareholding
12-March-2024 / 16:00 GMT/BST
══════════════════════════════════════════════════════════════════════════
12 March 2024
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”).
1. Grant of Awards under the Company’s Long Term Incentive Plan (“LTIP”)
On the 11 March 2024, awards were granted to Karim Bitar, Chief Executive
Officer and Jonny Mason, Chief Financial Officer under the 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: adjusted PBT growth, organic revenue growth, and TSR over the
three financial years to 31 December 2026; and subject to a two-year post
vesting holding period. Further details of the LTIP and performance
conditions will be available in the Company’s 2023 Annual Report.
Karim Bitar: 1,025,891
Jonny Mason: 464,221
The three-day average share price, closing on 8 March 2024 of £2.76 was
used in determining the awards.
2. Grant of Awards under the Company’s Deferred Bonus Plan (“DBP”)
On the same date, awards were also granted to Karim Bitar and Jonny Mason,
under the 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: 226,266
Jonny Mason: 122,863
The three-day average share price, closing on 8 March 2024 of £2.76 was
used in determining the awards.
3. Vesting of Awards under the Company’s LTIP
Also on 11 March 2024, share awards granted to Karim Bitar in 2021 under
the LTIP vested:
Shares vested Shares sold to satisfy income tax & Share price Total shares
NI liabilities acquired
592,209 279,106 2.805 313,103
4. Vesting of Awards under the Company’s DBP
On the same day, awards granted to Karim Bitar in 2021 under the DBP,
vested:
Shares vested Shares sold to satisfy income tax & Share Price Total Shares
NI liabilities acquired
301,460 142,077 2.805 159,383
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 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
1. Grant of RSUs under the DBP,
subject to a time-based vesting
period of three years.
b) Nature of the transaction
2. Grant of PSUs under the LTIP
subject to performance conditions.
Price(s) Volume(s)
c) Price(s) and volume(s)
1. n/a 1. 226,266
2. n/a 2. 1,025,891
Aggregated information
d) - Aggregated volume 1,252,157
- Price N/A
e) Date of the transaction 2024-03-11
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 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
1. Grant of RSUs under the DBP,
subject to a time-based vesting
period of three years and continued
employment.
b) Nature of the transaction
2. Grant of PSUs under the LTIP
subject to performance conditions.
Price(s) Volume(s)
c) Price(s) and volume(s)
1. n/a 1. 122,863
2. n/a 2. 464,221
Aggregated information
d) - Aggregated volume 587,084
- Price N/A
e) Date of the transaction 2024-03-11
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 and PDMR
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
1. Vesting of Share award under the
DBP.
b) Nature of the transaction
2. Vesting of Share award under the
LTIP.
Price(s) Volume(s)
c) Price(s) and volume(s) 1. n/a 1. 301,460
2. n/a 2. 592,209
Aggregated information
d) - Aggregated volume 893,669
- Price N/A
e) Date of the transaction 2024-03-11
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 and PDMR
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
1. Immediate sale of shares awarded
under the DBP to cover tax and
b) Nature of the transaction national insurance liabilities.
2. Immediate sale of shares awarded
under the LTIP to cover tax and
national insurance liabilities.
Price(s) Volume(s)
c) Price(s) and volume(s)
1. 2.805 1. 142,077
2. 2.805 2. 279,106
Aggregated information
d) - Aggregated volume 421,183
- Price 2.805
e) Date of the transaction 2024-03-11
f) Place of the transaction London Stock Exchange
Enquiries
Ria Banerjee, Group Deputy Company
Secretary
+44(0)7425655845
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 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 2023 were over $2 billion. The company is a
constituent of the FTSE 100 Index (LSE: CTEC). To learn more about
Convatec, please visit 1 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.: 309248
EQS News ID: 1857091
End of Announcement EQS News Service
══════════════════════════════════════════════════════════════════════════
2 fncls.ssp?fn=show_t_gif&application_id=1857091&application_name=news&site_id=refinitiv
References
Visible links
1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=26f8de477e9a42123589f91471356e0b&application_id=1857091&site_id=refinitiv&application_name=news
============Recent news on ConvaTec
See all newsREG - Convatec Group PLC - Holding(s) in Company
AnnouncementREG - Convatec Group PLC - Posting of Annual Report and Notice of Meeting
AnnouncementREG-Convatec Group PLC Convatec Group PLC: Director/ PDMR Shareholding
AnnouncementREG - ConvaTec Group PLC - Annual Results
AnnouncementREG - ConvaTec Group PLC - Trading Update for ten months to 31 October 2023
Announcement