REG - discoverIE Group plc - Director LTIP Award

DiscoverieAnnouncement

01/05/2019 16:25

RNS Number : 8007X
discoverIE Group plc
01 May 2019
 


1 May 2019
discoverIE Group plc
Director LTIP Award
 
discoverIE Group plc (LSE : DSCV, "discoverIE" or the "Company"), a leading international designer, manufacturer and supplier of customised electronics to industry, announces that on 30 April 2019, the Company granted long term incentive awards under the discoverIE Group plc 2018 Renewed Long-Term Incentive Plan ("LTIP").
 LTIP Awards(1)
 



Name


Number of Shares Subject to LTIP Award




Nicholas Jefferies


166,236




Simon Gibbins


107,385





(1)  The LTIP awards are granted in the form of nil-cost options over ordinary shares of 5 pence each in the Company ("Ordinary Shares"). The awards will vest on the third anniversary of the date of grant, subject to the achievement of performance targets measured over a three-year period.  Vested options will be subject to an additional two-year holding period prior to being eligible for exercise.
For further information, please contact:
discoverIE Group plc                                                                   01483 544 500
Nick Jefferies - Group Chief Executive
Simon Gibbins - Group Finance Director
Instinctif Partners                                                                             0207 457 2020
Mark Garraway
James Gray



1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


Nicholas Jefferies




2


Reason for the notification




a)


Position / status


Group Chief Executive




b)


Initial notification / amendment


Initial notification




3


Details of issuer




a)


Name


discoverIE Group plc




b)


LEI


213800BMDLQU1VEEAN68




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


Options over Ordinary Shares in discoverIE Group plc
 
 
GB0000055888




b)


Nature of the transaction


Award made pursuant to the Company's Long-Term Incentive Plan




c)


Price(s) and volume(s)


 



Price


Volume




Nil


166,236



 
 




d)


Aggregated information


 



N/A


 


 




 


 


 








e)


Date of the transaction


30 April 2019




f)


Place of the transaction


Outside a trading venue



 



1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


Simon Gibbins




2


Reason for the notification




a)


Position / status


Group Finance Director




b)


Initial notification / amendment


Initial notification




3


Details of issuer




a)


Name


discoverIE Group plc




b)


LEI


213800BMDLQU1VEEAN68




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


Options over Ordinary Shares in discoverIE Group plc
 
 
GB0000055888




b)


Nature of the transaction


Award made pursuant to the Company's Long-Term Incentive Plan




c)


Price(s) and volume(s)


 



Price


Volume




Nil


107,385



 
 




d)


Aggregated information


 



N/A


 


 




 


 


 








e)


Date of the transaction


30 April 2019




f)


Place of the transaction


Outside a trading venue



 
 
Notes to Editors:
About discoverIE Group plc
discoverIE Group plc is an international group of businesses that designs, manufactures and supplies innovative components for electronic applications.
 
The Group provides application-specific components to original equipment manufacturers ("OEMs") internationally. With in-house engineering capability, we are able to design components to meet customer requirements, which are then manufactured and supplied, usually on a repeating basis, for their ongoing production needs. This generates a high level of repeating revenue and long-term customer relationships.
 
By focusing on key markets which are driven by structural growth and increasing electronic content, namely renewable energy, transportation, medical and industrial connectivity, the Group aims to achieve organic growth that is well ahead of GDP and to supplement that with targeted complementary acquisitions.
 
The Group employs c.4,300 people and its principal operating units are located in Continental Europe, the UK, China, Sri Lanka, India and North America.
 
The Group is listed on the Main Market of the London Stock Exchange and is a member of the FTSE Small Cap Index, classified within the Electrical Components and Equipment subsector, and has revenue of £0.4bn. Over the last five years, revenue and underlying earnings per share has more than doubled.
 




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