REG - Genuit Group PLC - Director/PDMR Shareholding
25/04/2023 16:30
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RNS Number : 4286X Genuit Group PLC 25 April 2023
Genuit Group plc (the "Company')
Notification of Transactions by Persons Discharging Managerial
Responsibilities
The Company confirms that on 21 April 2023, 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 2014 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 27
members of the Senior Management Team. The awards, which have been granted in
respect of the financial year beginning on 1 January 2023, are over the
following maximum number of Ordinary Shares of £0.001 each in the Company
("Shares") in the Company:
Name/Position Category Maximum number of Shares
Joe Vorih /Chief Executive Officer Director 312,534
Paul James/Chief Financial Officer Director 189,753
Clare Taylor/Chief People Officer PDMR 55,184
Martin Gisbourne/Chief Strategy and Sustainability Officer PDMR 60,686
Emma Versluys/Group Legal Counsel & Company Secretary PDMR 43,347
Joe Vorih /Chief Executive Officer
Director
312,534
Paul James/Chief Financial Officer
Director
189,753
Clare Taylor/Chief People Officer
PDMR
55,184
Martin Gisbourne/Chief Strategy and Sustainability Officer
PDMR
60,686
Emma Versluys/Group Legal Counsel & Company Secretary
PDMR
43,347
The vesting of each award is subject to the satisfaction of the following
performance conditions:
1. 25% of the maximum potential award is based on a Total Shareholder
Return performance condition, with 25% of the TSR element vesting for
achieving median and 100% vesting for achieving upper quartile performance
relative to the Total Shareholder Return of the companies in a comparator
group (consisting of companies in the FTSE 250 Index that are classified as
Industrials by the Industry Classification Benchmark);
2. 25% of the maximum potential award is based on sustainability targets
set to align with the Company's sustainability strategy. The targets are as
follows:
a. Carbon reduction target - 8.33% of the total award is based on
emissions intensity that is defined as Scopes 1 and 2 tonnes of CO2e per tonne
of output with 25% of the carbon reduction target vesting for achieving an
emissions intensity of 0.093 and 100% vesting for achieving an emissions
intensity of 0.086 as measured in FY 2025;
b. Use of recycled plastics - 8.33% of the total award is based on the
proportion of our products that are manufactured from recycled products, with
25% of the use of recycled plastics target vesting for achieving 57.4% and
100% vesting when reaching 62.0% as measured in FY 2025; and
c. The 5% Club - this target is based on the Group's commitment to
creating a sustainable business culture with 25% of the 5% Club target vesting
when progress towards the 5% Club reaches 4.6% and 100% vesting when 5% is
reached as measured in FY 2025.
3. 50% of the maximum potential award is based on an Underlying Diluted
Earnings per Share ("EPS") performance condition based on FY 2025 EPS with 25%
of the EPS target vesting for achieving an EPS of 30.1p and 100% vesting for
an EPS of 35.6p.
The performance conditions are all measured over the three-year period
commencing on 1 January 2023, 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 three-year period.
Subject to the satisfaction of the performance conditions, the awards will
normally vest on 21 April 2026 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 Ordinary Shares of £0.001 each in the capital of Genuit Group plc
Identification code
GB00BKRC5K31
b) Nature of the transaction Grant of an award, structured as a nil cost option, under the Company's 2014
Long Term Incentive Plan.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 312,534
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 21 April 2023
f) Place of the transaction Outside a Trading Venue
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
21 April 2023
f)
Place of the transaction
Outside a Trading Venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Paul James
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 Ordinary Shares of £0.001 each in the capital of Genuit Group plc
Identification code
GB00BKRC5K31
b) Nature of the transaction Grant of an award, structured as a nil cost option, under the Company's 2014
Long Term Incentive Plan.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 189,753
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 21 April 2023
f) Place of the transaction Outside a Trading Venue
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
21 April 2023
f)
Place of the transaction
Outside a Trading Venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Clare Taylor
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 Ordinary Shares of £0.001 each in the capital of Genuit Group plc
Identification code
GB00BKRC5K31
b) Nature of the transaction Grant of an award, structured as a nil cost option, under the Company's 2014
Long Term Incentive Plan.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 55,184
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 21 April 2023
f) Place of the transaction Outside a Trading Venue
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
21 April 2023
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 Ordinary Shares of £0.001 each in the capital of Genuit Group plc
Identification code
GB00BKRC5K31
b) Nature of the transaction Grant of an award, structured as a nil cost option, under the Company's 2014
Long Term Incentive Plan.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 60,686
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 21 April 2023
f) Place of the transaction Outside a Trading Venue
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
21 April 2023
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 Ordinary Shares of £0.001 each in the capital of Genuit Group plc
Identification code
GB00BKRC5K31
b) Nature of the transaction Grant of an award, structured as a nil cost option, under the Company's 2014
Long Term Incentive Plan.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 43,347
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 21 April 2023
f) Place of the transaction Outside a Trading Venue
Contacts:
Emma Versluys, Group Legal Counsel & Company Secretary +44 (0) 1138 315 315
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
21 April 2023
f)
Place of the transaction
Outside a Trading Venue
Contacts:
Emma Versluys, Group Legal Counsel & Company Secretary
+44 (0) 1138 315 315
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