Director/PDMR Shareholding

Genuit

14/04/2025 15:52

RNS Number : 9591E

Genuit Group PLC

14 April 2025

 

Genuit Group plc (the "Company')

Notification of Transactions by Persons Discharging Managerial Responsibilities

The Company confirms that on 11 April 2025, in accordance with its shareholder approved Remuneration Policy, it granted to each of the following Directors/Persons Discharging Managerial Responsibility ("PDMRs") an award (structured as a nil-cost option) under the Genuit Group plc 2024 Long Term Incentive Plan (the "LTIP"). In addition, the Company made an award, subject to the same performance conditions as set out below, under the LTIP, to 26 members of the senior management team. The awards, which have been granted in respect of the financial year beginning on 1 January 2025, are over the following maximum number of Ordinary Shares of £0.001 each in the Company ("Shares"):

Name/Position
Category
Maximum number of Shares*
Joe Vorih /Chief Executive Officer
Director
371,921
Tim Pullen/Chief Financial Officer
Director
238,576
Edel Conway/Chief People Officer
PDMR
70,161
Martin Gisbourne/Chief Strategy and Sustainability Officer
PDMR
72,566
Emma Versluys/Group Legal Counsel & Company Secretary
PDMR
54,919
Lee Mellor/Climate Management Solutions Managing Director
PDMR
75,001
Steve Currier/Water Management Solutions (interim) & Sustainable Building Solutions Managing Director
PDMR
65,322

*The number of shares is the maximum number of shares that are eligible to vest after the application of the Total Shareholder Return ("TSR") Modifier which is applied to the outcome of the Cash Conversion Tranche, the Earnings Per Share Tranche and the Sustainability Tranche, as detailed below. 

The vesting of each award is subject to the satisfaction of the following performance conditions:

1.   Cash Conversion Tranche: 25% of the award is based on the average cash conversion over the three financial years of the performance period, with 25% of the cash conversion element vesting for achieving an underlying cash conversion of 90% and 100% vesting for achieving an underlying cash conversion of 95% or above;

2.   Earnings Per Share ("EPS") Tranche: 50% of the award is based on the Company's annual compound EPS growth over the performance period with 25% of the EPS growth element vesting for achieving EPS growth of 4.8% per annum and 100% vesting for achieving EPS growth of 10.7% per annum or above;

3.   Sustainability Tranche: 25% of the award is based on a sustainability target set to align with the Company's sustainability strategy and its science-based targets. Consistent with the Company's science-based target covering scope 3: category 1 emissions, it will target an intensity output improvement over the performance period with 25% of the element vesting for achieving an intensity output for the year ending 31 December 2027 of 1.712tCO2e/t, and 100% vesting for achieving an intensity output for the year ending 31 December 2027 of 1.517TCO2e/t or below; and

4.   A TSR Modifier will be applied to the outcome of the Cash Conversion Tranche, the EPS Tranche and the Sustainability Tranche which has the ability to increase vesting by a further 33% or reduce vesting by 33%. TSR will be measured against FTSE 250 Industrials and the modifier will be applied as follows:

a.   If TSR is at or below lower quartile, vesting is reduced by 33%, multiplying the vesting result by a factor of 0.67;

b.   If TSR is at median, vesting remains unchanged; and

c.   If TSR is at or above upper quartile, vesting is increased by 33%, multiplying the vesting result by a factor of 1.33.

With regard to the performance conditions, where performance falls between the threshold and maximum performance levels, the vesting outcome is adjusted on a graduated basis. 

The performance period is the three-year period commencing on 1 January 2025, using measures and baselines as described above. The Committee also retains discretion to reduce vesting if it considers that the level of vesting is not consistent with the Company's overall performance over the performance period.

Subject to the satisfaction of the performance conditions, the awards will normally vest on 11 April 2028 and remain exercisable until the tenth anniversary of the grant date.

The notifications below, which have been made in accordance with the requirements of the UK Market Abuse Regulation, provide further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated. 

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Joe Vorih
2
Reason for the notification
a)
Position/status
Chief Executive Officer/Director and PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Genuit Group plc
b)
LEI
2138005IF1N2RKJ6KO18
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 £0.001 each in the capital of Genuit Group plc
GB00BKRC5K31
b)
Nature of the transaction
Grant of an award, structured as a nil cost option, under the Company's 2024 Long Term Incentive Plan.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
371,921
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
11 April 2025
f)
Place of the transaction
Outside a Trading Venue

 

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Tim Pullen
2
Reason for the notification
a)
Position/status
Chief Financial Officer/Director and PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Genuit Group plc
b)
LEI
2138005IF1N2RKJ6KO18
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 £0.001 each in the capital of Genuit Group plc
GB00BKRC5K31
b)
Nature of the transaction
Grant of an award, structured as a nil cost option, under the Company's 2024 Long Term Incentive Plan.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
238,576
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
11 April 2025
f)
Place of the transaction
Outside a Trading Venue

 

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Edel Conway
2
Reason for the notification
a)
Position/status
Chief People Officer/PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Genuit Group plc
b)
LEI
2138005IF1N2RKJ6KO18
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 £0.001 each in the capital of Genuit Group plc
GB00BKRC5K31
b)
Nature of the transaction
Grant of an award, structured as a nil cost option, under the Company's 2024 Long Term Incentive Plan.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
70,161
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
11 April 2025
f)
Place of the transaction
Outside a Trading Venue

 

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Martin Gisbourne
2
Reason for the notification
a)
Position/status
Chief Strategy and Sustainability Officer/PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Genuit Group plc
b)
LEI
2138005IF1N2RKJ6KO18
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 £0.001 each in the capital of Genuit Group plc
GB00BKRC5K31
b)
Nature of the transaction
Grant of an award, structured as a nil cost option, under the Company's 2024 Long Term Incentive Plan.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
72,566
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
11 April 2025
f)
Place of the transaction
Outside a Trading Venue

 

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Emma Versluys
2
Reason for the notification
a)
Position/status
Group Legal Counsel & Company Secretary/PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Genuit Group plc
b)
LEI
2138005IF1N2RKJ6KO18
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 £0.001 each in the capital of Genuit Group plc
GB00BKRC5K31
b)
Nature of the transaction
Grant of an award, structured as a nil cost option, under the Company's 2024 Long Term Incentive Plan.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
54,919
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
11 April 2025
f)
Place of the transaction
Outside a Trading Venue

 

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Lee Mellor
2
Reason for the notification
a)
Position/status
Climate Management Solutions Business Unit Managing Director/PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Genuit Group plc
b)
LEI
2138005IF1N2RKJ6KO18
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 £0.001 each in the capital of Genuit Group plc
GB00BKRC5K31
b)
Nature of the transaction
Grant of an award, structured as a nil cost option, under the Company's 2024 Long Term Incentive Plan.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
75,001
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
11 April 2025
f)
Place of the transaction
Outside a Trading Venue

 

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Steve Currier
2
Reason for the notification
a)
Position/status
Water Management Solutions (interim) & Sustainable Building Solutions Business Unit Managing Director/PDMR
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Genuit Group plc
b)
LEI
2138005IF1N2RKJ6KO18
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 £0.001 each in the capital of Genuit Group plc
GB00BKRC5K31
b)
Nature of the transaction
Grant of an award, structured as a nil cost option, under the Company's 2024 Long Term Incentive Plan.
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil
65,322
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
11 April 2025
f)
Place of the transaction
Outside a Trading Venue

 

Contacts:

Emma Versluys

Group Legal Counsel and Company Secretary                     +44 (0) 1138 315 315

 

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