REG - Genuit Group PLC - Director/PDMR Shareholding
14/04/2025 16:00
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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 PDMR 65,322
Solutions Managing Director
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
1.712tCO(2)e/t, and 100% vesting for achieving an intensity output for the
year ending 31 December 2027 of 1.517TCO(2)e/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 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 2024
Long Term Incentive Plan.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 371,921
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 11 April 2025
f) Place of the transaction Outside a Trading Venue
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 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 2024
Long Term Incentive Plan.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 238,576
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 11 April 2025
f) Place of the transaction Outside a Trading Venue
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 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 2024
Long Term Incentive Plan.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 70,161
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 11 April 2025
f) Place of the transaction Outside a Trading Venue
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 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 2024
Long Term Incentive Plan.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 72,566
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 11 April 2025
f) Place of the transaction Outside a Trading Venue
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 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 2024
Long Term Incentive Plan.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 54,919
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 11 April 2025
f) Place of the transaction Outside a Trading Venue
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 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 2024
Long Term Incentive Plan.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 75,001
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 11 April 2025
f) Place of the transaction Outside a Trading Venue
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 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 2024
Long Term Incentive Plan.
c) Price(s) and volume(s)
Price(s) Volume(s)
Nil 65,322
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 11 April 2025
f) Place of the transaction Outside a Trading Venue
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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