REG - Porvair PLC - Director/PDMR Shareholding

PorvairAnnouncement

12/02/2025 14:30

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RNS Number : 8939W  Porvair PLC  12 February 2025

For immediate
release
12 February 2025

 

 

Porvair plc ("Porvair" or the "Company")

Directors' Shareholdings

Porvair plc ("Porvair", the "Group" or the "Company"), the specialist
filtration and environmental technologies group, announces the following
transactions by Directors in shares and options in the Company:

Grant of Long Term Share Plan options

On 12 February 2025 the Company granted options under the Group's Long Term
Share Plan 2018 ("LTSP") to the Executive Directors.  Options under the LTSP
were granted as follows:

 Director            Position       Options awarded under the LTSP  Grant date        Vesting date      Minimum holding period  Total options held, including SAYE options
 Hooman Caman Javvi  CEO designate  123,280                         12 February 2025  12 February 2028  2 years after vesting   123,280
 James Mills         CFO            54,130                                            266,786

 

These options, with a 2 pence exercise price, can only be exercised in full if
the Remuneration Committee is satisfied that in the financial year ending 30
November 2027 ('FY2027') the Group has achieved Adjusted EPS of at least 58.7
pence, which is a 15% compound annual growth rate from the Adjusted EPS in the
year ended 30 November 2024.  20% of the award will vest if the Group has
achieved Adjusted EPS of 43.4 pence in FY2027.  A sliding scale will operate
if Adjusted EPS are between 43.4 pence and 58.7 pence. No shares vest if the
Adjusted EPS in FY2027 are below 43.4 pence.  After the vesting period,
before the end of the two-year holding period, the option holder may exercise
the option but may only sell sufficient shares to settle the option price and
the income tax payable.  The options may be exercised after the vesting
period up until 12 February 2035.  Claw-back and malus provisions apply.

Exercises of LTSP

The Company was notified on 11 February 2025 of the following exercises of
LTSP Share options over ordinary shares of 2 pence each in the Company
("Ordinary Shares").

 Director    Scheme  Year of grant  Exercise price  Options exercised
 Ben Stocks  LTSP    2022           2.0p            75,450

 

 

Sale of Ordinary shares

On 11 February 2025, the Company was notified that Ben Stocks had sold the
following Ordinary Shares to meet: the cost of exercise of options; the
personal taxation liabilities arising on the options; and certain other
liabilities.

 Director    Transaction  Price   Number
 Ben Stocks  Sale         £7.16   70,000

 

Following these dealings, Ben Stocks' holding in the Company increased by
5,450 Ordinary Shares to 200,458 Ordinary Shares, representing approximately
0.4 per cent. of the Company's issued share capital.

Following these grants and the exercises, the total number of LTSP and SAYE
options in issue is 766,358, representing approximately 1.6% of the shares in
issue.

 

 

For further information, please contact:

 Chris Tyler, Group Company Secretary    01553 765 500

 

Notes to editors

 

Porvair plc

Porvair is a group of specialist filtration, laboratory and environmental
technology businesses.  Its businesses design and manufacture a range of
bespoke consumable filtration products that are used in a range of niche
filtration markets.  It operates in three divisions: Aerospace &
Industrial; Laboratory; and Metal Melt Quality.

 

 

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                                      James Mills
 2.        Reason for the notification
 a.        Position/status                           CFO
 b.        Initial notification                      Initial notification

           /Amendment
 3.        Details of the issuer, emission allowance market participant, auction
           platform, auctioneer or auction monitor
 a.        Name                                      Porvair plc
 b.        LEI                                       213800ECKHS8LAQO3C45
 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                        Options over Ordinary Shares of 2 pence under the Porvair plc Long Term Share

                                         Plan
           Financial instrument, type

           of instrument

                                         GB0006963689
           Identification code
 b.        Nature of the transaction

                                                     Grant of options

 c.        Price(s) and volume(s)

Price(s)  Volume(s)

                                                     n/a       54,130
 d.        Aggregated information

           ·      Aggregated volume                  As above

           ·      Price

 e.        Date of the transaction                   2025-02-12
 f.        Place of the transaction                  Outside a trading venue

d.

Aggregated information

·      Aggregated volume

·      Price

 

 

As above

e.

Date of the transaction

2025-02-12

f.

Place of the transaction

Outside a trading venue

 

 

 

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                                      Hooman Caman Javvi
 2.  Reason for the notification
 a.  Position/status                           CEO designate
 b.  Initial notification                      Initial notification

     /Amendment
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a.  Name                                      Porvair plc
 b.  LEI                                       213800ECKHS8LAQO3C45
 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                        Options over Ordinary Shares of 2 pence under the Porvair plc Long Term Share

                                         Plan
     Financial instrument, type

     of instrument

                                         GB0006963689
     Identification code
 b.  Nature of the transaction

                                               Grant of options

 c.  Price(s) and volume(s)

Price(s)  Volume(s)

                                               N/A       123,280
 d.  Aggregated information

     ·      Aggregated volume                  As above

     ·      Price

 e.  Date of the transaction                   2025-02-12
 f.  Place of the transaction                  Outside a trading venue

d.

Aggregated information

·      Aggregated volume

·      Price

 

 

As above

e.

Date of the transaction

2025-02-12

f.

Place of the transaction

Outside a trading venue

 

 

 

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                                      Ben Stocks
 2.  Reason for the notification
 a.  Position/status                           CEO
 b.  Initial notification                      Initial notification

     /Amendment
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a.  Name                                      Porvair plc
 b.  LEI                                       213800ECKHS8LAQO3C45
 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                        Options over Ordinary Shares of 2 pence under the Porvair plc Long Term Share

                                         Plan
     Financial instrument, type

     of instrument

                                         GB0006963689
     Identification code
 b.  Nature of the transaction

                                               Exercise of options

 c.  Price(s) and volume(s)

Price(s)  Volume(s)

                                               0.02      75,450
 d.  Aggregated information

     ·      Aggregated volume                  As above

     ·      Price

 e.  Date of the transaction                   2025-02-11
 f.  Place of the transaction                  Outside a trading venue

 a.  Description of the                        Ordinary Shares of 2 pence

     Financial instrument, type

     of instrument                             GB0006963689

     Identification code
 b.  Nature of the transaction                 Sale of Shares

 c.  Price(s) and volume(s)

Price(s)  Volume(s)

                                               7.16      70,000
 d.  Aggregated information

     ·      Aggregated volume                  As above

     ·      Price

 e.  Date of the transaction                   2025-02-11
 f.  Place of the transaction                  London Stock Exchange XLON

d.

Aggregated information

·      Aggregated volume

·      Price

 

 

As above

e.

Date of the transaction

2025-02-11

f.

Place of the transaction

Outside a trading venue

 

a.

Description of the

Financial instrument, type

of instrument

Identification code

Ordinary Shares of 2 pence

 

GB0006963689

b.

Nature of the transaction

Sale of Shares

 

c.

Price(s) and volume(s)

 

 Price(s)  Volume(s)

 7.16      70,000

d.

Aggregated information

·      Aggregated volume

·      Price

 

 

As above

e.

Date of the transaction

2025-02-11

f.

Place of the transaction

London Stock Exchange XLON

 

 

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