REG - Cranswick PLC - Director/PDMR Shareholding
03/07/2023 14:00
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RNS Number : 7894E Cranswick PLC 03 July 2023
Director/PDMR Shareholding
Cranswick plc ("the Company")
The Company has been notified that the following award of LTIP nil-cost
options has been made, pursuant to the Cranswick plc Long Term Incentive Plan
(the "Scheme"), to certain Directors/Persons Discharging Managerial
Responsibility ("PDMR") over ordinary shares of 10 pence each in the Company
("Ordinary Shares"), as follows:
Name No. of Ordinary Shares subject to Option
Adam Couch 49,620
Mark Bottomley 32,800
Jim Brisby 32,800
Chris Aldersley 32,800
The LTIP nil-cost options were granted on 1 July 2023 in accordance with the
Scheme and are based on a share price of 3250 pence per Ordinary Share, being
the average quoted market price of the Company's shares on the three dealing
days prior to the date of grant.
Each person has also been granted a tax qualifying option over 615 Ordinary
Shares at an exercise price of 3250 pence per Ordinary Share as part of their
award. These tax qualifying options are linked to the LTIP nil-cost options
such that, at the time of exercise, to the extent that there is a gain in the
tax qualifying option, the LTIP nil-cost option will be forfeited to the value
of that gain.
Vesting of the LTIP options and tax qualifying options is subject to the
achievement of performance criteria based on growth in EPS (as regards 42.5%
of each award), relative Total Shareholder Return (as regards 42.5% of each
award), reduction in emissions (as regards 5% of each award), reduction in
water intensity (as regards 5% of each award) and reduction in energy
intensity (as regards 5% of each award). The targets applying to each
element are as follows.
Target
EPS Threshold 215.6 pence per ordinary share
Maximum 249.8 pence per ordinary share
Relative TSR Threshold Median
Maximum Upper decile
Emissions Threshold 12.4% reduction
(tonnes Co2e)
Maximum 16.5% reduction
Water Intensity Threshold 12.2% reduction
(m3/sales tonnes)
Maximum 16.3% reduction
Energy Intensity Threshold 14.0% reduction
(kWh/sales tonnes)
Maximum 18.7% reduction
Notes
Threshold performance results in 25% of that element vesting.
Emissions are total Scope 1 and Scope 2 emissions (location based) (tonnes
CO2e)
Water Intensity is water intensity (m3/sales tonnes) excluding farms
TSR performance will be measured against companies in the FTSE 250 Index
(excluding investment trusts).
Targets for the reduction of emissions, water intensity and energy intensity
have been set based on the Group's published 2019/20 baseline performance and
are consistent with the achievement of the Group's long-term target of
achieving a 50% reduction in such measures by 2029/30 (after taking into
account performance achieved to date).
Enquiries:
Steven Glover, Company Secretary tel: 01482 275000
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 Christopher Aldersley
2 Reason for the notification
a) Position/status Director
b) Initial notification/amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Cranswick plc
b) LEI 549300LDZLPU51XOSK43
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 Ordinary shares of 10 pence each
Identification code
GB0002318888
b) Nature of the transaction Grant of LTIP and CSOP Options
c) Price(s) and volume(s) Price(s) Volume(s)
Grant of LTIP Option 0p 32,800
Grant of CSOP Option 3250p 615
d) Aggregated information
- Aggregated volume n/a
- Price n/a
- Purpose Option Grant
e) Date of the transaction 1 July 2023
f) Place of the transaction Outside a Trading Venue
d)
Aggregated information
- Aggregated volume
- Price
- Purpose
n/a
n/a
Option Grant
e)
Date of the transaction
1 July 2023
f)
Place of the transaction
Outside a Trading Venue
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 John Mark Bottomley
2 Reason for the notification
a) Position/status Director
b) Initial notification/amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Cranswick plc
b) LEI 549300LDZLPU51XOSK43
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 Ordinary shares of 10 pence each
Identification code
GB0002318888
b) Nature of the transaction Grant of LTIP and CSOP Options
c) Price(s) and volume(s) Price(s) Volume(s)
Grant of LTIP Option 0p 32,800
Grant of CSOP Option 3250p 615
d) Aggregated information
- Aggregated volume n/a
- Price n/a
- Purpose Option Grant
e) Date of the transaction 1 July 2023
f) Place of the transaction Outside a Trading Venue
d)
Aggregated information
- Aggregated volume
- Price
- Purpose
n/a
n/a
Option Grant
e)
Date of the transaction
1 July 2023
f)
Place of the transaction
Outside a Trading Venue
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 James Robert Brisby
2 Reason for the notification
a) Position/status Director
b) Initial notification/amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Cranswick plc
b) LEI 549300LDZLPU51XOSK43
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 Ordinary shares of 10 pence each
Identification code
GB0002318888
b) Nature of the transaction Grant of LTIP and CSOP Options
c) Price(s) and volume(s) Price(s) Volume(s)
Grant of LTIP Option 0p 32,800
Grant of CSOP Option 3250p 615
d) Aggregated information
- Aggregated volume n/a
- Price n/a
- Purpose Option Grant
e) Date of the transaction 1 July 2023
f) Place of the transaction Outside a Trading Venue
d)
Aggregated information
- Aggregated volume
- Price
- Purpose
n/a
n/a
Option Grant
e)
Date of the transaction
1 July 2023
f)
Place of the transaction
Outside a Trading Venue
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 Adam Hartley Couch
2 Reason for the notification
a) Position/status Director
b) Initial notification/amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Cranswick plc
b) LEI 549300LDZLPU51XOSK43
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 Ordinary shares of 10 pence each
Identification code
GB0002318888
b) Nature of the transaction Grant of LTIP and CSOP Options
c) Price(s) and volume(s) Price(s) Volume(s)
Grant of LTIP Option 0p 49,620
Grant of CSOP Option 3250p 615
d) Aggregated information
- Aggregated volume n/a
- Price n/a
- Purpose Option Grant
e) Date of the transaction 1 July 2023
f) Place of the transaction Outside a Trading Venue
d)
Aggregated information
- Aggregated volume
- Price
- Purpose
n/a
n/a
Option Grant
e)
Date of the transaction
1 July 2023
f)
Place of the transaction
Outside a Trading Venue
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