2nd Aug 2017 16:54
DEVRO plc ("Devro" or "the Company")
Notification of Transactions of Directors, Persons Discharging Managerial Responsibility or Connected Persons
The Company announces that the following awards were made today under the Devro plc Performance Share Plan:
Name of Participant | Status | No. of Devro 10p Ord Shares comprised in the award |
Peter Page | Director/CEO | 237,697 |
Rutger Helbing | Director/FD | 142,990 |
Michael Lauesgaard | PDMR | 60,000 |
Bill McGowan | PDMR | 60,000 |
Beverley Munro | PDMR | 60,000 |
Sarah Murphy | PDMR | 60,000 |
Kevin Shoemaker | PDMR | 60,000 |
John Meredith | PDMR | 15,000 |
Total | 695,687 |
The awards, which were made at nil cost, are subject to performance conditions. Vesting will normally not occur before three years have elapsed.
There are three performance conditions applying to the awards:
1. Forty percent of an award is subject to a performance condition based on average annual growth in the Company's earnings per share over a performance period of three financial years commencing with the financial year in which an award is granted. Threshold vesting, resulting in one quarter of this element vesting, requires growth of 6% per annum, with full vesting requiring at least 14% per annum and straight line vesting in between.
2. Forty percent of an award is subject to a performance condition based on the Return on Capital Employed ("ROCE") in the final year of the three-year performance period commencing with the financial year in which an award is granted. Threshold vesting, resulting in one quarter of this element vesting, requires ROCE to increase to 13%, with full vesting at 15% or above and straight line vesting in between.
3. Twenty percent of an award is subject to a performance condition comparing the Company's total shareholder return ("TSR") against the TSR of each company within a comparator group comprising 100 FTSE listed companies, being the 50 companies ranked by market value in the FTSE All-Share Index above the Company and the 50 companies ranked below the Company (excluding investment trusts) over a performance period of three financial years commencing with the financial year in which an award is granted. Threshold vesting, resulting in one quarter of this element vesting, requires the Company's TSR to rank at median against the comparator group, with upper quartile ranking required for full vesting and straight line vesting in between.
The notifications at the end of the announcement, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail of the awards granted.
Enquiries:
John Meredith
Company Secretary
Tel: 01236 872261
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||||
a)
| Name
| Peter Page | ||||||||
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
| Devro plc | ||||||||
b)
| LEI
| N/A | ||||||||
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
Identification code
| Ordinary 10p shares
GB0002670437
| ||||||||
b)
| Nature of the transaction
| Accepting an option under the Devro plc Performance Share Plan | ||||||||
c)
| Price(s) and volume(s)
|
| ||||||||
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A
| ||||||||
e)
| Date of the transaction
| 2017-08-02 | ||||||||
f)
| Place of the transaction
| N/A | ||||||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||||
a)
| Name
| Rutger Helbing | ||||||||
2
| Reason for the notification
| |||||||||
a)
| Position/status
| Group Finance Director | ||||||||
b)
| Initial notification /Amendment
| Initial notification | ||||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||||||
a)
| Name
| Devro plc | ||||||||
b)
| LEI
| N/A | ||||||||
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
Identification code
| Ordinary 10p shares
GB0002670437
| ||||||||
b)
| Nature of the transaction
| Accepting an option under the Devro plc Performance Share Plan | ||||||||
c)
| Price(s) and volume(s)
|
| ||||||||
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A
| ||||||||
e)
| Date of the transaction
| 2017-08-02 | ||||||||
f)
| Place of the transaction
| N/A | ||||||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||||
a)
| Name
| Michael Lauesgaard | ||||||||
2
| Reason for the notification
| |||||||||
a)
| Position/status
| Group Business Development Director | ||||||||
b)
| Initial notification /Amendment
| Initial notification | ||||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||||||
a)
| Name
| Devro plc | ||||||||
b)
| LEI
| N/A | ||||||||
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
Identification code
| Ordinary 10p shares
GB0002670437
| ||||||||
b)
| Nature of the transaction
| Accepting an option under the Devro plc Performance Share Plan | ||||||||
c)
| Price(s) and volume(s)
|
| ||||||||
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A
| ||||||||
e)
| Date of the transaction
| 2017-08-02 | ||||||||
f)
| Place of the transaction
| N/A | ||||||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||||
a)
| Name
| Beverley Munro | ||||||||
2
| Reason for the notification
| |||||||||
a)
| Position/status
| Commercial Director Asia-Pacific | ||||||||
b)
| Initial notification /Amendment
| Initial notification | ||||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||||||
a)
| Name
| Devro plc | ||||||||
b)
| LEI
| N/A | ||||||||
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
Identification code
| Ordinary 10p shares
GB0002670437
| ||||||||
b)
| Nature of the transaction
| Accepting an option under the Devro plc Performance Share Plan | ||||||||
c)
| Price(s) and volume(s)
|
| ||||||||
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A
| ||||||||
e)
| Date of the transaction
| 2017-08-02 | ||||||||
f)
| Place of the transaction
| N/A | ||||||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||||
a)
| Name
| Sarah Murphy | ||||||||
2
| Reason for the notification
| |||||||||
a)
| Position/status
| Group Human Resources Director | ||||||||
b)
| Initial notification /Amendment
| Initial notification | ||||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||||||
a)
| Name
| Devro plc | ||||||||
b)
| LEI
| N/A | ||||||||
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
Identification code
| Ordinary 10p shares
GB0002670437
| ||||||||
b)
| Nature of the transaction
| Accepting an option under the Devro plc Performance Share Plan | ||||||||
c)
| Price(s) and volume(s)
|
| ||||||||
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A
| ||||||||
e)
| Date of the transaction
| 2017-08-02 | ||||||||
f)
| Place of the transaction
| N/A | ||||||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||||
a)
| Name
| John Meredith | ||||||||
2
| Reason for the notification
| |||||||||
a)
| Position/status
| Company Secretary | ||||||||
b)
| Initial notification /Amendment
| Initial notification | ||||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||||||
a)
| Name
| Devro plc | ||||||||
b)
| LEI
| N/A | ||||||||
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
Identification code
| Ordinary 10p shares
GB0002670437
| ||||||||
b)
| Nature of the transaction
| Accepting an option under the Devro plc Performance Share Plan | ||||||||
c)
| Price(s) and volume(s)
|
| ||||||||
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A
| ||||||||
e)
| Date of the transaction
| 2017-08-02 | ||||||||
f)
| Place of the transaction
| N/A | ||||||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||||
a)
| Name
| Bill McGowan | ||||||||
2
| Reason for the notification
| |||||||||
a)
| Position/status
| Commercial Director Americas | ||||||||
b)
| Initial notification /Amendment
| Initial notification | ||||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||||||
a)
| Name
| Devro plc | ||||||||
b)
| LEI
| N/A | ||||||||
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
Identification code
| Ordinary 10p shares
GB0002670437
| ||||||||
b)
| Nature of the transaction
| Accepting a conditional award under the Devro plc Performance Share Plan | ||||||||
c)
| Price(s) and volume(s)
|
| ||||||||
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A
| ||||||||
e)
| Date of the transaction
| 2017-08-02 | ||||||||
f)
| Place of the transaction
| N/A | ||||||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||||
a)
| Name
| Kevin Shoemaker | ||||||||
2
| Reason for the notification
| |||||||||
a)
| Position/status
| Group Supply Chain Director | ||||||||
b)
| Initial notification /Amendment
| Initial notification | ||||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||||||
a)
| Name
| Devro plc | ||||||||
b)
| LEI
| N/A | ||||||||
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
Identification code
| Ordinary 10p shares
GB0002670437
| ||||||||
b)
| Nature of the transaction
| Accepting a conditional award under the Devro plc Performance Share Plan | ||||||||
c)
| Price(s) and volume(s)
|
| ||||||||
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A
| ||||||||
e)
| Date of the transaction
| 2017-08-02 | ||||||||
f)
| Place of the transaction
| N/A | ||||||||
Related Shares:
DVO.L