REG - Stelrad Group PLC - Director/PDMR Shareholding

StelradAnnouncement

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RNS Number : 8866Y  Stelrad Group PLC  31 March 2026

31 March 2026

 

Stelrad Group PLC

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 

On 18 March 2024, Stelrad Group plc ("Stelrad" or "the Group" or "the
Company", LSE: SRAD) announced awards in the form of conditional rights to
acquire ordinary shares in the Company ("Shares") were granted under the
Stelrad Deferred Share Bonus Plan ("DSBP") to the Executive Directors of the
Company. On 18 March 2026, the deferred shares described above vested on the
second anniversary of the conditional award of Shares.

 

In accordance with the rules of the DSBP and the Company's Directors'
Remuneration Policy the shares have been settled in cash upon vesting, based
on the prevailing market value of the Company's shares on the day the award
vested.

 

On 18 March 2026, the following cash settled DSBP awards vested and were
settled as follows:

 

 Executive Director  No. of shares (2024 DSBP)  Dividend Equivalent  Total no. of shares vested  Settlement Price (per share)  Gross award value  Tax payable to HMRC  Net Cash Amount Paid

                                                (2024 DSBP)
 Trevor Harvey       56,903                     6,651                63,554                      £1.28                         £81,349.12         £36,607.10           £44,742.02

 

The settlement price represents the closing share price on the vesting date.

 

The Company announces that, in respect of this cash settled award granted
under the DSBP, the participant has agreed that 34,954 shares already held by
them will be used in substitution for the shares that would otherwise have
been delivered on settlement of the award.  The shares used in substitution
will be subject to the same terms on which the DSBP award was granted,
including malus and clawback provisions in the DSBP rules and share ownership
guidelines in the prevailing Directors' Remuneration Policy.

 

The Notification of Dealing Form can be found below. This notification is
provided in accordance with the requirements of the UK Market Abuse
Regulation.

 

 1   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor

 a)  Name                                                         Stelrad Group plc

 b)  LEI                                                          2138006LKVGN16PTVA73

 2   Reason for the notification

 a)  Position/status                                              Chief Executive Officer

 b)  Initial notification/ Amendment                              Initial notification

 3   Details of the person discharging managerial responsibilities/person closely
     associated

 a)  Name                                                         Trevor Harvey

 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

 Transaction 1 - Cash settled Deferred Share Bonus Plan Award
 a)  Description of the financial instrument, type of instrument  Cash settled Deferred Share Bonus Plan award

     Identification code

                                                                  ISIN   GB00BMHRMV23
 b)  Nature of the transaction                                    Exercise of a conditional share award under the Stelrad Deferred Share Bonus

                                                            Plan.  The award is limited to settlement in cash by reference to the market
                                                                  value of the shares on the day the award vested.
 c)  Price(s) and volume(s)

         Price   Volume  Total
                                                                  Share settlement  £1.28   63,554  £81,349.12
 d)  Aggregated information                                        N/A single transaction

     - Aggregated volume

     - Price

 e)  Date of the transaction                                      30 March 2026

 f)  Place of the transaction                                     Outside of a trading venue

 Transaction 2 - Substitution using existing shares held by PDMR
 a)  Description of the financial instrument, type of instrument  Ordinary shares of £0.001 each in Stelrad Group plc

     Identification code

                                                                  ISIN   GB00BMHRMV23
 b)  Nature of the transaction                                    Transfer of existing shares already held by the PDMR to stand in substitution

                                                            for shares that would otherwise have been delivered under the cash settled
                                                                  Deferred Share Bonus Plan award; no new shares issued or transferred by the
                                                                  Company.
 c)  Price(s) and volume(s)

Price                                                                Volume
                                                                  £0.00 (no consideration; market price on transaction date: £1.28)    34,954 shares
 d)  Aggregated information                                        N/A single transaction

     - Aggregated volume

     - Price

 e)  Date of the transaction                                      30 March 2026

 f)  Place of the transaction                                     Outside of a trading venue

d)

Aggregated information

- Aggregated volume

- Price

 

 

 N/A single transaction

 

e)

Date of the transaction

 

30 March 2026

f)

Place of the transaction

 

Outside of a trading venue

 

Transaction 2 - Substitution using existing shares held by PDMR

a)

Description of the financial instrument, type of instrument

 

Identification code

 

Ordinary shares of £0.001 each in Stelrad Group plc

 

 

 

 

 

ISIN   GB00BMHRMV23

b)

Nature of the transaction

 

Transfer of existing shares already held by the PDMR to stand in substitution
for shares that would otherwise have been delivered under the cash settled
Deferred Share Bonus Plan award; no new shares issued or transferred by the
Company.

c)

Price(s) and volume(s)

 

 

 Price                                                                Volume
 £0.00 (no consideration; market price on transaction date: £1.28)    34,954 shares

d)

Aggregated information

- Aggregated volume

- Price

 

 

 N/A single transaction

 

e)

Date of the transaction

 

30 March 2026

f)

Place of the transaction

 

Outside of a trading venue

 

 

 

 

- ENDS -

 

 

For further information:

 

 Stelrad Group plc                        +44 (0) 191 261 3301

 Trevor Harvey, Chief Executive Officer

 Leigh Wilcox, Chief Financial Officer

 Sodali & Co                              stelrad@sodali.com (mailto:stelrad@sodali.com)

 James White / Pete Lambie                +44 (0)7855 432699

 

 

Notes to Editors

Stelrad Group plc is Europe's leading specialist radiator manufacturer,
selling an extensive range of hydronic, hybrid, dual fuel and electrical heat
emitters to more than 500 customers in over 40 countries. These include
standard, premium and low surface temperature (LST) steel panel radiators,
towel warmers, decorative steel tubular, steel multicolumn and aluminium
radiators.

 

The Group has five core brands: Stelrad, Henrad, Termo Teknik, DL Radiators
and Hudevad.  In the data reported by BRG Building Solutions for 2024,
Stelrad extended its market leadership position, with 24.2% share by volume of
the European steel panel radiator market, excluding Russia.  The Group is now
market leader in six countries - the UK, France, Belgium, the Netherlands,
Ireland and Denmark, with a top three position in a further 12 territories.

 

Stelrad is headquartered in Newcastle upon Tyne in the UK and in 2025 employed
1,300 people, with manufacturing and distribution facilities in Çorlu
(Turkey), Mexborough (UK), Moimacco (Italy) and Nuth (Netherlands), with a
further commercial and distribution operation in Krakow (Poland).

 

The Group's origins date back to the 1930s and Stelrad enjoys long established
commercial relationships with many of its customers, having served each of its
top five current customers for over twenty years.

 

Further information can be found at: https://stelradplc.com/
(https://stelradplc.com/) .

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