REG - Norcros PLC - Director Dealings - APSP and DBP Share Options
23/07/2025 12:15
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RNS Number : 2671S Norcros PLC 23 July 2025
Norcros plc ("Norcros" or "the Company")
Director Dealings - APSP and DBP Share Options
Director/PDMR Shareholding
Norcros announces that following a recommendation from the Remuneration
Committee, the Board has granted new share options under the Company's
Approved Performance Share Plan (the "APSP") and the Deferred Bonus Plan (the
"DBP") to the following Directors, on 23 July 2025.
The notification below, made in accordance with the requirements of the Market
Abuse Regulation ("MAR"), provides further details.
APSP Share Option Awards
The Company has today granted the following nil cost share option awards under
the APSP in respect of the current financial year (the "APSP Awards") to two
Executive Directors of the Company over ordinary shares of ten pence each in
the Company ("Ordinary Shares").
Under the APSP, awards are made subject to suitably stretching performance
targets determined by the Remuneration Committee. Accordingly, vesting of
the APSP Awards will be subject to the following:
· 60% to the achievement of Earnings Per Share ("EPS") growth
targets measured over a three-year performance period starting with the
current financial year.
· 40% to the Company's total shareholder return performance
relative to a defined comparator group, measured over the three-year period.
· The EPS element will be subject to a discretionary assessment by
the Remuneration Committee of the quality of earnings by reference to the
Company's return on capital employed performance.
The APSP Awards will normally vest on the third anniversary of their grant,
subject to satisfactory achievement of the performance targets and any vested
shares will be subject to the Company's policy on a two-year post-vesting
holding period. No consideration was paid for the APSP Awards.
Name Number of Ordinary Shares subject to the APSP Award
Thomas Willcocks (CEO) 261,324
James Eyre (CFO) 149,296
Bonus payment - Deferred Share Awards
Under the annual bonus scheme, 50 per cent. of an Executive Director's total
bonus for the year is satisfied in cash, with the other 50 per cent. delivered
in the form of nil cost options under the DBP. These options represent 50
per cent. of the bonuses earned by the Executive Directors for the 2025
financial year.
Norcros therefore also announces the grant of the following nil cost share
option awards under the DBP in respect of the year ended 31 March 2025 (the
"Deferred Awards") to the relevant Executive Director of the Company over
Ordinary Shares.
Name Number of Ordinary Shares subject to the DBP Award
Thomas Willcocks (CEO) 41,244
James Eyre (CFO) 31,424
The Deferred Awards are granted on the terms of the DBP and will normally vest
on the third anniversary of their grant. Because these shares represent part
of a bonus already earned, no consideration was paid for the Deferred Awards
and no consideration is due to be payable on vesting. Any vested shares will
be subject to the Company's shareholding requirements.
MAR Notification
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them.
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Thomas Willcocks
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Norcros plc
b) LEI 213800EIMJZZA1GBIE18
4 A 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 Share of 10 pence
Identification code
GB00BYYJL418
b) Nature of the transaction Grant of 261,324 options under the Company's Approved Performance Share Plan
(the "APSP")
c) Price(s) and volume(s)
Price(s) Volume(s)
n/a 261,324
d) Aggregated information
- Aggregated volume n/a
- Price n/a
e) Date of the transaction 23 July 2025
f) Place of the transaction Wilmslow, Cheshire, England
d)
Aggregated information
- Aggregated volume
- Price
n/a
n/a
e)
Date of the transaction
23 July 2025
f)
Place of the transaction
Wilmslow, Cheshire, England
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Thomas Willcocks
2 Reason for the notification
a) Position/status Chief Executive Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Norcros plc
b) LEI 213800EIMJZZA1GBIE18
4 A 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 Share of 10 pence
Identification code
GB00BYYJL418
b) Nature of the transaction Grant of 41,244 options under the Deferred Bonus Plan (the "DBP") on 23 July
2025
c) Price(s) and volume(s)
Price(s) Volume(s)
n/a 41,244
d) Aggregated information
- Aggregated volume n/a
- Price n/a
e) Date of the transaction 23 July 2025
f) Place of the transaction Wilmslow, Cheshire, England
d)
Aggregated information
- Aggregated volume
- Price
n/a
n/a
e)
Date of the transaction
23 July 2025
f)
Place of the transaction
Wilmslow, Cheshire, England
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name James Eyre
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Norcros plc
b) LEI 213800EIMJZZA1GBIE18
4 A 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 Share of 10 pence
Identification code
GB00BYYJL418
b) Nature of the transaction Grant of 149,296 options under the Company's Approved Performance Share Plan
(the "APSP")
c) Price(s) and volume(s)
Price(s) Volume(s)
n/a 149,296
d) Aggregated information
- Aggregated volume n/a
- Price n/a
e) Date of the transaction 23 July 2025
f) Place of the transaction Wilmslow, Cheshire, England
d)
Aggregated information
- Aggregated volume
- Price
n/a
n/a
e)
Date of the transaction
23 July 2025
f)
Place of the transaction
Wilmslow, Cheshire, England
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name James Eyre
2 Reason for the notification
a) Position/status Chief Financial Officer
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Norcros plc
b) LEI 213800EIMJZZA1GBIE18
4 A 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 Share of 10 pence
Identification code
GB00BYYJL418
b) Nature of the transaction Grant of 31,424 options under the Deferred Bonus Plan (the "DBP") on 23 July
2025
c) Price(s) and volume(s)
Price(s) Volume(s)
n/a 31,424
d) Aggregated information
- Aggregated volume n/a
- Price n/a
e) Date of the transaction 23 July 2025
f) Place of the transaction Wilmslow, Cheshire, England
d)
Aggregated information
- Aggregated volume
- Price
n/a
n/a
e)
Date of the transaction
23 July 2025
f)
Place of the transaction
Wilmslow, Cheshire, England
Further enquiries:
Norcros plc Tel: 01625 547 700
Thomas Willcocks, Chief Executive Officer
James Eyre, Chief Financial Officer
Hudson Sandler Tel: 0207 796 4133
Nick Lyon
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