REG - Vesuvius plc - Director/PDMR Shareholding

VesuviusAnnouncement

18/03/2022 13:00

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RNS Number : 3143F  Vesuvius plc  18 March 2022

Vesuvius plc

 

18 March 2022

 

Notification of Transactions of Persons Discharging Managerial
Responsibilities

 

This notification is made in accordance with Article 19(3) of the Market Abuse
Regulation.

 

Grant of 2022 Long Term Incentive Share Awards

 

Vesuvius plc (the "Company") announces that on 17 March 2022, performance
share awards (the "Awards") were granted over the Company's ordinary shares
("Shares") to the following persons discharging managerial responsibilities in
the Company under the Vesuvius Share Plan in the form indicated in the table
below:

 

 Name            Maximum number of Shares under Award ("Award Shares")  Form of Award
 Patrick André   319,900                                                Nil-cost Option
 Guy Young       156,716                                                Nil-cost Option

 

The number of Award Shares set out above is the maximum number which may vest
under the Awards, normally following the third anniversary of the award date.
The actual number of Award Shares which vest will depend upon the extent to
which performance conditions have been satisfied.

 

The performance conditions applicable to the 2022 Awards will be based 40% on
total shareholder return (TSR) performance, 40% on post-tax ROIC (ROIC)
achievement and 20% on Environmental, Social and Governance (ESG) targets, as
described in the Company's 2021 Annual Report.

 

The 2022 Awards are subject to a holding period which will run until the fifth
anniversary of the grant date.

 

Given current share price volatility, the Remuneration Committee resolved that
the number of shares subject to the Awards should be capped at a level that
reflects the middle market share price of the Company for the five days up to
the February Committee meeting, being 402 pence. As the average middle market
closing price of a Vesuvius share (as derived from the London Stock Exchange
Daily Official List) for the five trading days prior to the date of grant
(10-16 March 2022) was 387.2 pence, the capped price of 402 pence per share
has therefore been used to limit the number of shares awarded. As a result
Patrick André received an Award equivalent in value to 193% of his base
salary rather than 200% and Guy Young received an Award equivalent in value to
144% of his base salary rather than 150%.

 

The Vesuvius Share Plan was approved by shareholders at the General Meeting on
26 November 2012.

 

 

Name of contact and telephone number for queries:

 

 Henry Knowles, General Counsel and Company Secretary  +44 (0) 20 7822 0000

 

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Patrick André

 2    Reason for the notification

 a)   Position/status                                              Chief Executive

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Vesuvius plc

 b)   LEI                                                          213800ORZ521W585SY02

 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  Performance share award in the form of nil-cost options over Vesuvius plc 10

                                                                 pence ordinary shares

      Identification code                                          ISIN: GB00B82YXW83

 b)   Nature of the transaction                                    Grant of performance share awards under the Vesuvius Share Plan

 c)   Price(s) and volume(s)

                                                                                         Price(s)              Volume(s)
                                                                                         387.2 pence           319,900

 d)   Aggregated information

      - Aggregated volume                                          319,900

      - Aggregated Price                                           387.2 pence

      - Aggregated Total                                           £1,238,653

 e)   Date of the transaction                                      17 March 2022

 f)   Place of the transaction                                     London - outside a trading venue

 

 

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Guy Young

 2    Reason for the notification

 a)   Position/status                                              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                                                         Vesuvius plc

 b)   LEI                                                          213800ORZ521W585SY02

 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  Performance share award in the form of nil-cost options over Vesuvius plc 10

                                                                 pence ordinary shares

      Identification code                                          ISIN: GB00B82YXW83

 b)   Nature of the transaction                                    Grant of performance share awards under the Vesuvius Share Plan

 c)   Price(s) and volume(s)

                                                                                         Price(s)              Volume(s)
                                                                                         387.2 pence           156,716

 d)   Aggregated information

      - Aggregated volume                                          156,716

      - Aggregated Price                                           387.2 pence

      - Aggregated Total                                           £606,804

 e)   Date of the transaction                                      17 March 2022

 f)   Place of the transaction                                     London - outside a trading venue

 

Vesuvius plc, 165 Fleet Street, London EC4A 2AE

Registered in England and Wales No. 8217766

LEI: 213800ORZ521W585SY02

www.vesuvius.com (http://www.vesuvius.com)

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