REG - ConvaTec Group PLC - Director/PDMR Shareholding

ConvaTecAnnouncement

14/10/2019 15:30

RNS Number : 8217P
ConvaTec Group PLC
14 October 2019
 


14 October 2019
ConvaTec Group Plc

("ConvaTec" or "the Company")

Director/PDMR Shareholding
The Company has been notified of the following transaction by a Person Discharging Managerial Responsibility ("PDMR") in ordinary shares of 10 pence each in the share capital of the Company ("Shares").
On 9 October 2019 Karim Bitar, Chief Executive Officer and a PDMR, sold 215,235 Shares at £1.76 per share to cover the remaining balance of income tax liabilities due on the vesting and exercise of a share award made to him under the Company's 2019 Long Term Incentive Plan ("LTIP") on 30 September 2019.
Mr Bitar's resulting shareholding is 989,830 Shares, being the balance from vesting and exercise of the 2019 LTIP award of 1,869,647 Shares (incorrectly stated as 1,869,646 Share in the announcement dated 4 October 2019) less a total of 879,817 Shares sold which was equivalent to the income tax liability with respect to such awards (sold in two tranches on 30 September and 9 October respectively).
The below notification, made in accordance with the requirements of the EU Market Abuse Regulation, provides details of the number of Shares sold on 9 October 2019.
The attached notification, made in accordance with the requirements of the EU Market Abuse Regulation, gives further detail.
 
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM




2019 LTIP




1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


Karim Bitar




2


Reason for the notification




a)


Position/Status


CEO




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




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
Identification code


 
Ordinary shares of 10p each
 GB0002074580




b)


Nature of the transaction


Sale of shares arising from the exercise of the 2019 LTIP, which vested on 30 September 2019, to offset income tax and social security liabilities due on the exercise.




c)


Price(s) and volume(s)






Price(s)


Volume(s)




£1.757


215,235




 




d)


Aggregated information
Aggregated volume
Price


 




Average Price(s)


Volume(s)




£1.757


215,235




 




e)


Date of the transaction


2019-10-09




f)


Place of the transaction


London Stock Exchange, Main Market (XLON)



 
 
 
 



Enquiries
Media
Analysts and Investors
John Crosse, VP Investor Relations, ConvaTec                      +44 (0)7500 141 435
Mark Reynolds, Director Investor Relations, ConvaTec           +44 (0)7551 036 625
investorrelations@convatec.com
ConvaTec Group Plc's LEI code is 213800LS272L4FIDOH92
About ConvaTec
ConvaTec is a global medical products and technologies company focused on therapies for the management of chronic conditions, with leading market positions in advanced wound care, ostomy care, continence and critical care, and infusion devices. ConvaTec's products provide a range of clinical and economic benefits including infection prevention, protection of at-risk skin, improved patient outcomes and reduced total cost of care. To learn more about ConvaTec, please visit www.convatecgroup.com where a copy of this announcement can also be found.
 




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