REG - Tyman PLC - Director/PDMR Shareholding

TymanAnnouncement

20/04/2022 16:00

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RNS Number : 7963I  Tyman PLC  20 April 2022

TYMAN PLC

("Tyman" or the "Company")

 

DIRECTOR/PDMR SHAREHOLDINGS

 

awards under the DEFERRED SHARE BONUS PLAN (THE "DSBP")

 

Tyman plc ("Tyman" or the "Group"), a leading international supplier of
engineered components and access solutions to the construction
industry, announces that the Remuneration Committee of the Company has
granted the following nil cost share awards in respect of the year ended 31
December 2021 (the "2021 Awards") to the two Executive Directors of the
Company under the Company's Deferred Share Bonus Plan ("DSBP") over ordinary
shares of 5 pence each in the Company ("Ordinary Shares").

 Name          Number of Ordinary Shares subject to the Deferred Plan Award(1)
 Jo Hallas     83,975
 Jason Ashton  48,493

(1) Number of shares calculated by reference to the 5-day average closing
price prior to the date that shares were awarded (5 trading days ended 14(th)
April 2022) of £3.126.

 

Under the DSBP, 50% of Executive Director bonuses that would otherwise have
been payable in cash are instead delivered in the form of nil-cost options.

 

These awards will normally vest (together with dividend equivalents in cash or
Ordinary Shares) following the publication of the Group's audited results for
the year ending

31 December 2024, expected to be in March 2025. No consideration was paid for
the 2021 Awards and no consideration is due to be payable on vesting.

 

A further three executive managers employed by the Company and its
subsidiaries have also been granted under the DSBP nil-cost options over a
total of 34,244 Ordinary Shares.

 

AWARDS UNDER THE TYMAN PLC LONG TERM INCENTIVE PLAN (THE "LTIP")

On 14 April 2022 ("Award Date"), the Company's two Executive Directors were
granted the following share awards (the "2022 Awards") under the LTIP, in the
form of nil cost options over ordinary shares of 5 pence each in the Company
("Ordinary Shares"):

 Name          Number of 2022 Awards(1)
 Jo Hallas     263,915
 Jason Ashton  137,755

(1) Number of shares calculated by reference to the 5-day average closing
price prior to the date that shares were awarded (5 trading days ended 14(th)
April 2022) of £3.126.

 

Performance conditions

 

Under the terms of the LTIP, the Awards are subject to the following terms:

 

·      EPS performance target. 40% of each Award is based on the
Company's adjusted earnings per share ("EPS") growth over the three-year
period to the end of the financial year 2024 ("FY24"). No such part of an
Award will vest if the three-year compound annualised growth rate ("CAGR") in
the Company's EPS to FY24 is below 4.5% per annum. 25% of this element will
vest if the Company's EPS CAGR is equal to 4.5% per annum, rising on a
straight-line basis to 100% vesting if the Company's EPS CAGR equals or
exceeds 12.0% per annum.

·      ROCE performance target. 25% of each Award is based on the
Company's underlying return on capital employed ("ROCE") performance over the
three-year period to the end of FY24. No such part of an Award will vest if
the Company's average ROCE over the three-year period ("Average ROCE") is less
than 13.6%. 25% of this element will vest if the Company's Average ROCE is
equal to 13.6%, rising on a straight-line basis to 100% vesting if the
Company's Average ROCE equals or exceeds 15.0%.

·      TSR performance target. 20% of each Award is based on the
Company's total shareholder return over the period 2022 - 2024 relative to the
constituents of the FTSE250 Index (excluding Tyman and investment trusts). No
part of this element will vest if the Company's relative TSR is less than the
median. 25% of this element will vest if the Company's relative TSR is equal
to the median, rising on a straight-line basis to 100% vesting if the
Company's relative TSR is equal to the upper quartile.

·      Group sustainability scorecard target.  15% of each Award is
based on the Company's Group sustainability scorecard target. The Group
Sustainability Scorecard is split equally across the four metrics of Safety,
Environment, Impact and Culture (further details of which can be found on page
135 of the 2021 Annual Report and Accounts).

 

Five year holding period

Awards granted to the Executive Directors that vest shall be subject to a
compulsory holding period of five years from the Award Date.

 

Timetable and Awards Outstanding

2022 Awards are expected to vest in March 2025, following the announcement of
the Company's results for the year ended 31 December 2024, subject to
fulfilment of the performance conditions and continued employment in the
Group, and the holding requirement is expected to expire in March 2027.

 

The details of the Awards are set out below:

 1    Details of the persons discharging managerial responsibilities / person

    closely associated

 a)   Names                                                        i.          JO HALLAS

                                                                   ii.          JASON ASHTON

 2    Reason for the notification: AWARD OF OPTIONS

 a)   Position/status                                              i.          CHIEF EXECUTIVE OFFICER

                                                                   ii.         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                                                         TYMAN PLC

 b)   LEI                                                          213800AAFUV5PKGQU848

 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 financial instrument, type of instrument  ORDINARY SHARES OF 5P EACH

      Identification code                                          ISIN NUMBER:GB00B29H4253

 b)   Nature of the transaction                                    NIL COST OPTIONS GRANTED UNDER TYMAN PLC DEFERRED SHARE BONUS PLAN

 c)   Prices (s) and volume(s)                                                                Price                      Volume
      i.                                                                                      Nil                        83,975
      ii.                                                                                     Nil                        48,493
 d)   Aggregated information

      - Aggregated volume                                          - 132,468

      - Price                                                      - Nil

 e)   Date of the transaction                                      14 April 2022

 f)   Place of the transaction                                     OUTSIDE OF TRADING VENUE

 1    Details of the persons discharging managerial responsibilities / person

    closely associated

 a)   Names                                                        i.          JO HALLAS

                                                                   ii.          JASON ASHTON

 2    Reason for the notification: AWARD OF OPTIONS

 a)   Position/status                                              i.          CHIEF EXECUTIVE OFFICER

                                                                   ii.         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                                                         TYMAN PLC

 b)   LEI                                                          213800AAFUV5PKGQU848

 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 financial instrument, type of instrument  ORDINARY SHARES OF 5P EACH

      Identification code                                          ISIN NUMBER:GB00B29H4253

 b)   Nature of the transaction                                    NIL COST OPTIONS GRANTED SUBJECT TO PERFORMANCE CONDITIONS UNDER TYMAN PLC

                                                                 LONG TERM INCENTIVE PLAN

 c)   Prices (s) and volume(s)                                                                Price                      Volume
      i.                                                                                      Nil                        263,915
      ii.                                                                                     Nil                        137,755
 d)   Aggregated information

      - Aggregated volume                                          - 401,670

      - Price                                                      - Nil

 e)   Date of the transaction                                      14 April 2022

 f)   Place of the transaction                                     OUTSIDE OF TRADING VENUE

 

This disclosure is made in accordance with Article 19 of EU Market Abuse
Regulation No. 596/2014 as it forms part of domestic law by virtue of the
European Union (Withdrawal) Act 2018.

 

 

20 April 2022

 Enquiries:
 Tyman plc                                           020 7976 8000
 Peter Ho - General Counsel & Company Secretary      www.tymanplc.com

 

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