REG - Tyman PLC - Director/PDMR Shareholding

TymanAnnouncement

24/04/2024 17:15

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RNS Number : 9187L  Tyman PLC  24 April 2024

TYMAN PLC

("Tyman" or the "Company" or the "Group")

 

DIRECTOR/PDMR SHAREHOLDINGS

 

Tyman plc announces that it has been notified of the following transactions in
the Company's ordinary 5p shares ("Shares") undertaken by an Executive
Director and PDMR, Jason Ashton, CFO.

 

DEFERRED SHARE BONUS PLAN (THE "DSBP")

 

On 23 April 2024, following the end of a closed period, the Company's
Remuneration Committee granted the following nil-cost option over Shares (the
"2023 Award") to Jason Ashton, an Executive Director of the Company, under the
terms of the Company's DSBP 2023 (as part of the annual bonuses for the year
ended 31 December 2023). Under the terms of the DSBP, 50% of the bonuses of
Executive Directors, which would otherwise have been payable in cash, are
delivered in the form of nil-cost option.

 Executive Director  Number of Ordinary Shares subject to the DSBP award(1)
 Jason Ashton        82,908

(1)As customary for Tyman, the number of Shares were calculated by reference
to the 5-day average closing price prior to the date that shares were awarded
(5 trading days ended 13(th) March 2024) of £2.861.

 

This 2023 Award would normally vest (together with dividend equivalents in
cash or Shares) following the publication of the Group's audited results for
the year ending 31 December 2026, expected to be in March 2027. No
consideration was paid for the 2023 Awards and no consideration is due to be
payable on vesting.

Impact of the recommended offer for the Company

On 22 April 2024, the boards of Quanex Building Products Corporation
("Quanex") and Tyman announced (the "2.7 Announcement") that they reached
agreement on the terms of a recommended cash and share offer, pursuant to
which Quanex will acquire the entire issued and to be issued ordinary share
capital of Tyman (the "Transaction"). In this section, all capitalised terms
used shall have the same meaning as in the 2.7 Announcement, unless expressly
defined otherwise.

Pursuant to the terms agreed by Quanex and Tyman, awards under the DSBP shall
vest or become exercisable in full on the Effective Date. Awards under the
DSBP will accrue, in the ordinary course, dividend equivalents that will be
settled by Tyman in cash if they have not already been credited in Shares.

The following 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.

 

 

 1                        Details of the persons discharging managerial responsibilities / person

                        closely associated

 a)                       Names                                                        i.          JASON ASHTON

 2                        Reason for the notification: GRANT OF OPTIONS

 a)                       Position/status                                              i.          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                                    A.   GRANT OF DSBP SHARES.

 c)                       Prices (s) and volume(s)                                                          Price                Volume
                          Nil                                                                               82, 908

 d)                       Aggregated information

     - Aggregated volume  ·      82,908

     - Price              ·      Nil

 e)                       Date of the transaction                                      23 April 2024

 f)                       Place of the transaction                                     LONDON STOCK EXCHANGE

     24 April 2024

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

 

 

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