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Director/PDMR Shareholding

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RNS Number : 1659V
Avon Rubber PLC
29 November 2019
 

 

29 November 2019

Avon Rubber p.l.c. ('the Company')

Directors' and PDMRs' Interest in Shares

Release of 2017 deferred bonus shares

As previously announced to shareholders on 24 November 2017, a portion of the annual bonus payments due to Chief Executive Officer Paul McDonald, Chief Financial Officer Nick Keveth, PDMR Miles Ingrey-Counter and PDMR Craig Sage, in respect of the 2017 financial year were deferred into Company shares, to be held for two years.

On 26 November 2019, following expiry of the deferral period, 1,443 deferred bonus shares were released to Paul McDonald, 364 to Nick Keveth, 1,063 to Miles Ingrey-Counter and 367 to Craig Sage. Paul McDonald and Miles Ingrey-Counter sold these shares at a price of 2002.5 pence per share on 26 November 2019. Deferred bonus shares are not subject to the Company's shareholding guidelines.

1

Details of person discharging managerial responsibilities/person closely associated

a)   

Name

Paul McDonald

2

Reason for the notification

a)   

Position / status

Chief Executive Officer

b)   

Initial notification /

amendment

Initial notification

 

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)   

Name

Avon Rubber p.l.c.

b)   

LEI

213800JM1AN62REBWA71

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

and ISIN Code

Ordinary £1 shares in Avon Rubber p.l.c.

 

GB0000667013

b)   

Nature of the

transaction

Sale of shares. Following expiry of the deferral period, the 2017 deferred bonus shares purchased on 23 November 2017 were released to and were sold by Paul McDonald.

 

c)   

Price(s) and

volume(s)

 

Price(s)

£20.025

Volume(s)

1,443



d)   

Aggregated Information

-  Aggregated volume

-  Aggregated price

-  Aggregated total

 

 

N/A

e)   

Date of the

transaction

2019-11-26

 

f)    

Place of the

transaction

London Stock Exchange (XLON)

 

 

1

Details of person discharging managerial responsibilities/person closely associated

a)   

Name

Miles Ingrey-Counter

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

Avon Rubber p.l.c.

b)   

LEI

213800JM1AN62REBWA71

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

and ISIN Code

Ordinary £1 shares in Avon Rubber p.l.c.

 

GB0000667013

b)   

Nature of the

transaction

Sale of shares. Following expiry of the deferral period, the 2017 deferred bonus shares purchased on 23 November 2017 were released to and were sold by Miles Ingrey-Counter.

 

c)   

Price(s) and

volume(s)

 

                Price(s)

£20.025

Volume(s)

1,063

d)   

Aggregated Information

-  Aggregated volume

-  Aggregated price

-  Aggregated total

 

 

N/A

e)   

Date of the

transaction

2019-11-26

 

f)    

Place of the

transaction

London Stock Exchange (XLON)

 

 

2019 deferred bonus arrangements

A portion of the annual bonus payments due to the Executive Directors, Paul McDonald and Nick Keveth and certain PDMRs of the Company in respect of the 2019 financial year were deferred into Company shares on 27 November 2019. 25% of the annual bonus for the Executive Directors, and 25% of the annual bonus linked to financial targets (as distinct from personal performance targets) for the PDMRs, was subject to tax and national insurance/social security and the net amount was used to purchase Company shares. The shares are to be held for two years and are not subject to the Company's shareholding guidelines.

The table below sets out the number of 2019 deferred bonus shares held by the Executive Directors and each PDMR following this transaction.

 

1

Details of person discharging managerial responsibilities/person closely associated

a)   

Name

1)    Paul McDonald

2)    Nicholas Keveth

3)    Miles Ingrey-Counter

4)    Craig Sage

5)    James Wilcox

6)    David Mack

2

Reason for the notification

a)   

Position / status

1)    Chief Executive Officer

2)    Chief Financial Officer

3)    Company Secretary

4)    Managing Director, milkrite|InterPuls

5)    President, Military

6)    President, Law Enforcement and Fire

b)   

Initial notification /

amendment

Initial notification

 

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)   

Name

Avon Rubber p.l.c.

b)   

LEI

213800JM1AN62REBWA71

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

and ISIN Code

Ordinary £1 shares in Avon Rubber p.l.c.

 

GB0000667013

b)   

Nature of the

transaction

Acquisition of shares. 25% the annual bonus payments for Executive Directors and 25% of the annual bonus payments linked to financial targets (as distinct from personal performance targets) for the PDMRs, was subjected to tax and national insurance/social security and the net amount was used to purchase Company shares. The shares are to be held for two years and are not subject to the Company's shareholding guidelines.

c)   

Price(s) and

volume(s)

 

Price(s)

Volume(s)

1)    £20.077

2)    £20.077

3)    £20.077

4)    £20.077

5)    £20.077

6)    £20.077

1)    1,400

2)    970

3)    465

4)    413

5)    622

6)    240

d)   

-  Aggregated total

-  Aggregated volume

-  Aggregated price

-  Aggregated total

 

 

N/A

e)   

Date of the

transactions

All occurred on 2019-11-27

f)    

Place of the

transaction

London Stock Exchange (XLON)

 

 

LEI: 213800JM1AN62REBWA71
Classification: Transactions by PDMRs under article 19 of the Market Abuse Regulation.

 


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 [email protected] or visit www.rns.com.
 
END
 
 
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Price: 2355

Market: LSE
Market Cap: £730.6 m
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