REG - TT Electronics PLC - Director/PDMR Shareholding

TT electronicsAnnouncement

20/03/2019 13:50

RNS Number : 4784T
TT Electronics PLC
20 March 2019
 


20 March 2019
 
TT Electronics plc
Long Term Incentive Plan 2014 ("LTIP")
 
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
On 18 March 2019, 86.5% of the LTIP share awards granted on 16 March 2016 (the "2016 Awards") to Richard Tyson, Chief Executive Officer and Mark Hoad, Chief Financial Officer, both being Persons Discharging Managerial Responsibility, vested.
The following table sets out the transactions relating to the vesting of the 2016 Awards which were notified to the Company on 19 March 2019:
 



Executive Director


Shares Vested


Shares retained (post tax / NI)1


Resultant beneficial interest in the Company's shares




Richard Tyson


295,536


156,355


717,2512




Mark Hoad


180,798


95,652


550,0903



1  Sufficient shares were sold in respect of tax and statutory withholdings. The shares were sold on the London Stock Exchange at a gross price of £2.28.
2  R Tyson's beneficial interest includes shares held by a PCA, Louise Tyson.
3 M Hoad's beneficial interest includes shares held by a PCA, Tracy Hoad.
 
The balance of the vesting of the 2016 Awards to the Executive Directors was satisfied by the transfer of ordinary shares for no consideration to the relevant individual by the trustee of the Company's Employee Benefit Trust.
 
The following notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further details.
 
 



1.


Details of PDMR / person closely associated with  them  ('PCA')




a)


Name


Richard Tyson
 




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


TT Electronics plc




b)


LEI


213800TJGBW5VFHQEV54




4.


Details of the transaction(s)




a)


Description of the financial instrument, type of instrument
 
Identification Code


Ordinary shares of 25p each
 
 
 
GB0008711763




b)


Nature of the transaction


Transfer of Ordinary Shares arising from vesting of Long Term Incentive Plan award granted on 16 March 2016




c)


Price(s) and volume(s)


 



Price(s)


Volume(s)




£0.00


156,355








d)


Aggregated information
Aggregated volume
Price


 
See 4c above
See 4c above
 




e)


Date of the transaction


2019-03-20




f)


Place of the transaction


XLON



 
 



1.


Details of PDMR / person closely associated with  them  ('PCA')




a)


Name


Mark Hoad
 




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


TT Electronics plc




b)


LEI


213800TJGBW5VFHQEV54




4.


Details of the transaction(s)




a)


Description of the financial instrument, type of instrument
 
Identification Code


Ordinary shares of 25p each
 
 
 
GB0008711763




b)


Nature of the transaction


Transfer of Ordinary Shares arising from vesting of Long Term Incentive Plan award granted on 16 March 2016




c)


Price(s) and volume(s)


 



Price(s)


Volume(s)




£0.00


95,652








d)


Aggregated information
Aggregated volume
Price


 
See 4c above
See 4c above
 




e)


Date of the transaction


2019-03-20




f)


Place of the transaction


XLON



 
For further information please contact:
 
TT Electronics plc
Richard Tyson, Chief Executive Officer:                                   Tel:  + 44 (0)1932 825300
Mark Hoad, Chief Financial Officer:
Emma Darke, Head of Investor Relations and Communications           
 
MHP Communications
Tim Rowntree / Katie Hunt / Nessyah Hart:                              Tel:  +44 (0)20 3128 8100
 




This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
DSHLLFSVVDIIFIA