REG-Renewi plc Renewi plc: Director/PDMR Shareholding
20/06/2023 10:15
============
Renewi plc (RWI)
Renewi plc: Director/PDMR Shareholding
20-Jun-2023 / 10:00 GMT/BST
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NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
Renewi plc (the "Company") announces the following transactions of Persons
Discharging Managerial Responsibility ("PDMR") in ordinary shares of £1
each in the share capital of the Company ("Shares").
Grant of Awards under the Long-Term Incentive Plan (“LTIP”) and Deferred
Annual Bonus Scheme (“DAB”)
2023 LTIP
On 19 June 2023, conditional awards were granted to the two Executive
Directors of the Company under the Renewi plc 2020 Long-Term Incentive
Plan, which will vest on the third anniversary of grant in accordance with
their performance conditions:
Plan Participant Award Vesting date
2023 LTIP Otto de Bont (CEO) 136,590 19 June 2026
2023 LTIP Annemieke den Otter (CFO) 92,814 19 June 2026
The three-year performance measures and targets relating to 2023 LTIP
awards are as disclosed below. The targets will be measured over the three
years ending 31 March 2026.
TSR1 ROCE EPS Recycling rate2
Weighting 25% 25% 25% 25%
Target Vesting Target Vesting Target Vesting Target Vesting
Threshold Median 25% +0.5% 25% +5.0% 25% 67% 25%
Max Upper 100% +2.0% 100% +15% 100% 70% 100%
quartile
Notes:
1. The peer group for the TSR performance target is the FTSE 250
(excluding Investment Trusts). TSR will be calculated using a
three-month averaging period at the start and end of the performance
period.
2. The recycling rate target has been based on the 2023 recycling rate
methodology, as described on pages 51 and 52 of the 2023 Renewi plc
Annual Report and Accounts.
3. Vesting for all targets is calculated on a straight line basis.
A two-year post vest holding period applies to the LTIP awards granted to
Executive Directors.
2023 DAB
On 19 June 2023, conditional awards were granted to the two Executive
Directors of the Company under the Renewi plc 2014 Deferred Annual Bonus
Scheme. 50% of the 2023 DAB awards vested immediately, with a further 50%
to vest on the third anniversary of grant:
Plan Participant Award Vesting date
50% on 19 June 2023
2023 DAB Otto de Bont (CEO) 48,483
50% on 19 June 2026
50% on 19 June 2023
2023 DAB Annemieke den Otter (CFO) 36,604
50% on 19 June 2026
Both Executive Directors elected to retain all of their Shares from the
immediate DAB vest on 19 June 2023, satisfying their associated
withholding tax and social security liabilities through direct payments to
the Company.
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 Otto de Bont
2 Reason for the notification
a) Position/status
CEO
b) Initial notification /Amendment
Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name
Renewi plc
b) LEI
213800CNEIDZBL17KU22
Details of the transaction(s): section to be repeated for (i) each type
4 of instrument; (ii) each type of transaction; (iii) each date; and (iv)
each place where transactions have been conducted
Description of the financial
instrument, type of instrument
a) Ordinary shares of £1 each
Identification code
GB00BNR4T868
Nature of the transaction
b) Grant of 2023 award under the Renewi
plc Long Term Incentive Plan
Shares Shares
Price(s) and volume(s)
c)
Price(s) Volume(s)
£NIL 136,590
Aggregated information
d) 136,590
- Aggregated volume
£NIL
- Price
e) Date of the transaction
19 June 2023
f) Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person
closely associated
a) Name
Annemieke den Otter
2 Reason for the notification
a) Position/status
CFO
b) Initial notification /Amendment
Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name
Renewi plc
b) LEI
213800CNEIDZBL17KU22
Details of the transaction(s): section to be repeated for (i) each type
4 of instrument; (ii) each type of transaction; (iii) each date; and (iv)
each place where transactions have been conducted
Description of the financial
instrument, type of instrument
a) Ordinary shares of £1 each
Identification code
GB00BNR4T868
Nature of the transaction
b) Grant of 2023 award under the Renewi
plc Long Term Incentive Plan
Shares Shares
Price(s) and volume(s)
c)
Price(s) Volume(s)
£NIL 92,814
Aggregated information
d) 92,814
- Aggregated volume
£NIL
- Price
e) Date of the transaction
19 June 2023
f) Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person
closely associated
a) Name
Otto de Bont
2 Reason for the notification
a) Position/status
CEO
b) Initial notification
/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name
Renewi plc
b) LEI
213800CNEIDZBL17KU22
Details of the transaction(s): section to be repeated for (i) each type
4 of instrument; (ii) each type of transaction; (iii) each date; and (iv)
each place where transactions have been conducted
Description of the financial
instrument, type of
instrument
a) Ordinary shares of £1 each
Identification code
GB00BNR4T868
Nature of the transaction Grant of 2023 award of 48,483 shares under
b) the Deferred Annual Bonus Scheme , 50% of
which vested immediately (24,242 shares),
50% of which will vest on 19 June 2026
(24,241 shares)
Shares Shares
Price(s) and volume(s)
c)
Price(s) Volume(s)
£NIL 48,483
Aggregated information
d)
- Aggregated volume 48,483
£NIL
- Price
e) Date of the transaction
19 June 2023
f) Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person
closely associated
a) Name
Annemieke den Otter
2 Reason for the notification
a) Position/status
CFO
b) Initial notification
/Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name
Renewi plc
b) LEI
213800CNEIDZBL17KU22
Details of the transaction(s): section to be repeated for (i) each type
4 of instrument; (ii) each type of transaction; (iii) each date; and (iv)
each place where transactions have been conducted
Description of the financial
instrument, type of
instrument
a) Ordinary shares of £1 each
Identification code
GB00BNR4T868
Nature of the transaction Grant of 2023 award of 36,604 shares under
b) the Deferred Annual Bonus Scheme, 50% of
which vested immediately, 50% of which
will vest on 19 June 2026
Shares Shares
Price(s) and volume(s)
c)
Price(s) Volume(s)
£NIL 36,604
Aggregated information
d) 36,604
- Aggregated volume
£NIL
- Price
e) Date of the transaction
19 June 2023
f) Place of the transaction
Outside a trading venue
About Renewi
Renewi is a pure-play recycling company with a focus on extracting value
from waste and used materials rather than disposal through incineration or
landfill. The company also plays a key role in limiting resource scarcity
through the creation of secondary materials, and by so doing addresses
both social and regulatory trends and contributes to creating a cleaner,
greener world.
Renewi’s vision is to be the leading waste-to-product company in the
world’s most advanced circular economies. With an industry leading
recycling rate of 63.6%, Renewi puts 7m tonnes of low carbon secondary
materials back into reuse. This is a significant contribution to climate
change mitigation and the circular economy. Our recycling protects virgin
resources and avoids emissions of 2.5 million tonnes of CO2.
Renewi, which draws on innovation and the latest technology to turn waste
into useful materials - paper, metals, plastics, glass, wood, building
materials, compost and water - employs over 6,500 people who work on 154
operating sites in 5 countries across Europe and the UK. Renewi is
recognised as a market leader in Benelux and a European leader in advanced
recycling.
Visit our website for more information: 1 www.renewi.com
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Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
══════════════════════════════════════════════════════════════════════════
ISIN: GB00BNR4T868
Category Code: DSH
TIDM: RWI
LEI Code: 213800CNEIDZBL17KU22
OAM Categories: 3.1. Additional regulated information required to be
disclosed under the laws of a Member State
Sequence No.: 251956
EQS News ID: 1660751
End of Announcement EQS News Service
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