REG - CT Automotive Group - Director/PDMR Shareholding

CT AutomotiveAnnouncement

31/10/2024 07:00

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RNS Number : 3101K  CT Automotive Group PLC  31 October 2024

31 October 2024

 

CT Automotive Group PLC

("CT Automotive" or the "Group")

 

Grant of Awards under the Long Term Incentive Plan

 

CT Automotive, a leading designer, developer and supplier of interior
components to the global automotive industry, announces that on 30 October
2024, the Company awarded 660,194 1  (#_ftn1) nominal cost options under the
CT Automotive Long Term Incentive Plan 2022 to certain senior executives,
including to its Chief Executive Officer and Chief Financial Officer.

The awards have been granted in relation to ordinary shares of £0.005
("Ordinary Shares") in the form of options to acquire Ordinary Shares at
nominal value ("LTIP Awards") and will all vest on the third anniversary of
grant.

The table below sets out details of the LTIP Awards granted to directors of
the Company.

 Executive Director  Role                     Performance conditions                                                   Number of LTIP Awards granted
 Simon Phillips      Chief Executive Officer  Earnings per share performance criteria for 3 year period ending FY2025  213,592
 Salman Mohammed     Chief Financial Officer  No performance conditions                                                38,835

For future awards, the Remuneration Committee intend to grant Salman Mohammed
awards which will be subject to performance conditions to reflect the fact
that as of 17 October 2024, he is a member of the Executive Board and
considered to be one of the senior executives.

Enquiries:

 CT Automotive                                                       Via Novella

 Simon Phillips, Chief Executive Officer

 Salman Mohammed, Chief Financial Officer

 Singer Capital Markets Advisory LLP (Nominated Adviser and Broker)  Tel: +44 (0)20 7496 3000

 Steve Pearce, Alex Bond, James Todd

 Novella Communications (Financial Public Relations)                 Tel : +44 (0)20 3151 7008

 Tim Robertson, Claire de Groot, Safia Colebrook                     ctautomotive@novella-comms.com (mailto:ctautomotive@novella-comms.com)

 

 

Notes to editors

 

CT Automotive is engaged in the design, development and manufacture of bespoke
automotive interior finishes (for example, dashboard panels and fascia
finishes) and kinematic assemblies (for example, air registers, arm rests,
deployable cup holders and storage systems), as well as their associated
tooling, for the world's leading automotive original equipment suppliers
("OEMs") and global Tier One manufacturers.

 

The Group is headquartered in the UK with a low cost manufacturing footprint.
Key production facilities are located in Shenzhen and Ganzhou, China
complemented by additional manufacturing facilities in Mexico, Türkiye and
Czechia.

 

CT Automotive's operating model enables it to pursue a price leadership
strategy, supplying high quality parts to customers at a lower overall landed
cost than competitors. This has helped the Group build a high-quality
portfolio of OEM customers, both directly and via Tier One suppliers including
Forvia and Marelli.  End customers include volume manufacturers, such as
Nissan, Ford, GM and Volkswagen Audi Group, and premium luxury car brands such
as Bentley and Lamborghini.  In addition, the Group supplies all our customer
base with a range of products for PHEV and BEV platforms and supplies electric
car manufacturers, including Rivian and a US based major EV OEM.

 

The Group currently supplies component part types to over 57 different models
for 22 OEMs. Since its formation, the Group has been one of the very few new
entrants to the market, which is characterised by high barriers to entry.

 

The information set out below is provided in accordance with the requirements
of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014:

 1    Details of the person discharging managerial responsibilities/person closely
      associated
 (a)  Name                                                         Simon Phillips
 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                                                         CT Automotive Group plc
 (b)  LEI                                                          213800RP7B4UJ1DDKY67
 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  Options over Ordinary shares of £0.005 pence each

      Identification code                                          ISIN GB00BMHYGR77

 (b)  Nature of the transaction                                    Award of options pursuant to CT Automotive Group plc 2022 Long Term Incentive
                                                                   Plan
 (c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                        NIL       213,592

 (d)  Aggregated information                                       N/A

      -         Aggregated volume

      -         Price
 (e)  Date of the transaction                                      30 October 2024
 (f)  Place of the transaction                                     Outside a trading venue

(d)

Aggregated information

-         Aggregated volume

-         Price

N/A

(e)

Date of the transaction

30 October 2024

(f)

Place of the transaction

Outside a trading venue

 

 

 1    Details of the person discharging managerial responsibilities/person closely
      associated
 (a)  Name                                                         Salman Mohammed
 2    Reason for the notification
 (a)  Position/status                                              Chief Financial Officer

 (b)  Initial notification/Amendment                               Initial notification
 3    Details of the issuer, emission allowance market participant, auction
      platform, auctioneer or auction monitor
 (a)  Name                                                         CT Automotive Group plc
 (b)  LEI                                                          213800RP7B4UJ1DDKY67
 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  Options over Ordinary shares of £0.005 pence each

      Identification code                                          ISIN GB00BMHYGR77

 (b)  Nature of the transaction                                    Award of options pursuant to CT Automotive Group plc 2022 Long Term Incentive
                                                                   Plan
 (c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                        NIL       38,835

 (d)  Aggregated information                                       N/A

      -         Aggregated volume

      -         Price
 (e)  Date of the transaction                                      30 October 2024
 (f)  Place of the transaction                                     Outside a trading venue

(d)

Aggregated information

-         Aggregated volume

-         Price

N/A

(e)

Date of the transaction

30 October 2024

(f)

Place of the transaction

Outside a trading venue

 

 1  (#_ftnref1) 427,184 LTIP Awards which carry earnings per share performance
criteria for 3 year period ending FY2026 and 233,010 LTIP awards which carry
no additional performance conditions.

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