REG - Norcros PLC - Director Dealings

NorcrosAnnouncement

19/07/2022 14:00

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RNS Number : 0145T  Norcros PLC  19 July 2022

Norcros plc ("Norcros" or "the Company")

Director Dealings - APSP Share Option and Deferred Share awards

 

Director/PDMR Shareholding

Norcros announces that the Board, following a recommendation from the
Remuneration Committee, has granted new share options to the following
Directors under the Company's Approved Performance Share Plan (the "APSP") and
Deferred Bonus Plan (the "DBP") on 19 July 2022.

The notifications below, made in accordance with the requirements of the EU
Market Abuse Regulation ("MAR"), provides further detail.

APSP Share Option Awards

The Company has today granted the following unapproved 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 performance targets relating to
improvements in the Company's Earnings Per Share ("EPS").  Vesting of these
Ordinary Shares will be subject to achieving aggregate diluted EPS targets
over a three year performance period, starting with the 2023 financial year.

The APSP Awards will normally vest on the third anniversary of their grant,
subject to satisfactory achievement of the performance targets.  No
consideration was paid for the APSP Awards.

 Name          Number of Ordinary Shares subject to the APSP Award
 Nick Kelsall  218,348
 James Eyre    133,027

 

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. 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 2022 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 2022 (the
"Deferred Awards") to the relevant Executive Director of the Company over
Ordinary Shares.

 Name          Number of Ordinary Shares subject to the Deferred Bonus Plan Award
 Nick Kelsall  89,098

 James Eyre    39,894

 

The Deferred Awards 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.

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                                                         Nick Kelsall
 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 218,348 options under the Company's Approved Performance Share Plan

                                                            (the "APSP") and 89,098

                                                                    options under the Deferred Bonus Plan (the "DBP") on 19 July 2022
 c)   Price(s) and volume(s)

Price(s)  Volume(s)
                                                                   n/a       n/a

 d)   Aggregated information

      - Aggregated volume                                          n/a

      - Price                                                      n/a

 e)   Date of the transaction                                      19 July 2022

 f)   Place of the transaction                                     Wilmslow, Cheshire, England

d)

 

Aggregated information

- Aggregated volume

- Price

 

n/a

n/a

 

e)

 

Date of the transaction

 

19 July 2022

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 133,027 options under the Company's Approved Performance Share Plan

                                                            (the "APSP") and 39,894 options under the Company's Deferred Bonus Plan (the
                                                                   "DBP") on 19 July 2022
 c)   Price(s) and volume(s)

Price(s)  Volume(s)
                                                                   n/a       n/a

 d)   Aggregated information

      - Aggregated volume                                          n/a

      - Price                                                      n/a

 e)   Date of the transaction                                      19 July 2022

 f)   Place of the transaction                                     Wilmslow, Cheshire, England

d)

 

Aggregated information

- Aggregated volume

- Price

 

n/a

n/a

 

e)

 

Date of the transaction

 

19 July 2022

f)

 

Place of the transaction

 

Wilmslow, Cheshire, England

 

 

Further enquiries:

 Norcros plc                            Tel: 01625 547 700
 Nick Kelsall, Chief Executive Officer

 James Eyre, Chief Financial Officer

 Hudson Sandler                         Tel: 0207 796 4133
 Nick Lyon

 

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