Director/PDMR Shareholding

Carr's Group PLC

24 January 2024

 

24 January 2024

Carr's Group plc

("Carr's", the "Company", or the "Group")

Director/PDMR Shareholdings

Carr's (CARR.L), the Speciality Agriculture and Engineering Group, announces that the following awards of options ("Options") were made on 22 January 2024 ("Award Date"), pursuant to the Company's Long Term Incentive Plan 2023 (the "LTIP"), to certain PDMRs over ordinary shares in the Company of 2.5p each ("Ordinary Shares"):

PDMR	Number of Ordinary Shares
David White	267,834

The Options were awarded for nil-cost subject to the rules of the LTIP and will be exercisable from the third anniversary of the Award Date to the tenth anniversary of the Award Date. 

Vesting of the Options is subject to performance targets based upon the Company's adjusted Earnings Per Share ("EPS") and Total Shareholder Return ("TSR") over a three-year performance period covering the financial years 2023/24, 2024/25 and 2025/26 ("Performance Period") as follows:

Adjusted EPS (75% weighting)

	Threshold	Maximum
Target	5% average annual growth in adjusted EPS	14% average annual growth in adjusted EPS
Vesting	25%	100%

TSR (25% weighting)

	Threshold	Maximum
Target	7% compound annual growth in TSR	16% compound annual growth in TSR
Vesting	25%	100%

Vesting is adjusted on a straight-line basis between threshold and maximum targets.  Growth in adjusted EPS is calculated from a base adjusted EPS of 6.2p.  Growth in TSR is measured by comparing the Company's average TSR over each of the three-month periods ending on: (i) the day before the start of the Performance Period; and (ii) the final day of the Performance Period.

The following information is included in accordance with Article 19(3) of the Market Abuse Regulation (No. 596/2014):

1 . Details of the person discharging managerial responsibilities/person closely associated
a) Name	2. David White
2 . Reason for the notification
a) Position/status	1. 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	Carr's Group plc
b) LEI	213800HTIKPQV98RA653
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 £0.025 each
b) Identification Code	GB00BRK01058
c) Nature of transactions	Grant of award pursuant to the Company's Long Term Incentive Plan 2023
d) Price(s) and Volume(s)	Price(s)                               1. Nil-Cost	Volume(s) 267,834
e) Aggregated information: i. Aggregated volume ii. price	N/A
f)    Date of the transaction	22 January 2024
g)   Place of the transaction	Outside trading venue

Enquiries:

Carr's Group plc Ian Wood (Remuneration Committee Chair) Justin Richards (Company Secretary)

01228 554 600

 

END