REG - CT Automotive Group - Grant of awards under Long Term Incentive Plan

CT AutomotiveAnnouncement

23/09/2022 12:00

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RNS Number : 4875A  CT Automotive Group PLC  23 September 2022

23 September 2022

 

CT Automotive Group plc

(the "Company")

 

Grant of awards under Long Term Incentive Plan

 

CT Automotive Group plc announces that on 23 September 2022, the Company made
awards over 476,190 ordinary shares in the capital of the Company  in the
form of options to acquire shares at nominal value ("LTIP Awards") under the
CT Automotive Long Term Incentive Plan  2022 ("LTIP") to Stuart Lorraine, the
Company's COO. The terms of these awards are in line with the awards made to
Executive Directors announced on 30 June 2022.

 

The LTIP Awards will vest in three equal annual tranches from the third
anniversary of Admission (23 December 2021) subject to meeting earnings per
share performance criteria in each of FY2023, FY2024 and FY2025. A portion of
the LTIP Awards will vest on meeting minimum performance criteria with vesting
thereafter on a straight-line basis.

For further information, please contact:

 

CT Automotive
 
via MHP

Simon Phillips, Executive Chairman

Scott McKenzie, Chief Executive Officer

David Wilkinson, Chief Financial Officer

 

MHP Communications (Financial
PR)
Tel: +44 (0)20 3100 8540

Tim
Rowntree
CTAutomotive@mhpc.com

Charlie Barker

 

Liberum (Nominated Adviser and
Broker)
Tel: +44 (0)20 3100 2000

Richard Lindley

Benjamin Cryer

 

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 Turkey and the Czech
Republic.

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 roster
of OEM end customers, both directly and via Tier One suppliers including
Faurecia and Marelli. End customers include volume manufacturers, such as
Nissan, and luxury car brands such as Bentley and Lamborghini. In addition,
the Group supplies electric car manufacturers, including Lucid.

The Group currently supplies component part types to over 47 different models
for 19 OEMs. Since its formation, the Group has been the only significant new
entrant into 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                                                         Stuart Lorraine

 2    Reason for the notification
 (a)  Position/status                                              PDMR
 (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       476,010
 (d)  Aggregated information                                       N/A

      -         Aggregated volume

      -         Price
 (e)  Date of the transaction                                      23 September 2022
 (f)  Place of the transaction                                     Outside a trading venue

(d)

Aggregated information

-         Aggregated volume

-         Price

N/A

(e)

Date of the transaction

23 September 2022

(f)

Place of the transaction

Outside a trading venue

 

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