Director/PDMR Shareholding

Cranswick PLC

03 July 2023

 

Director/PDMR Shareholding

Cranswick plc ("the Company")

The Company has been notified that the following award of LTIP nil-cost options has been made, pursuant to the Cranswick plc Long Term Incentive Plan (the "Scheme"), to certain Directors/Persons Discharging Managerial Responsibility ("PDMR") over ordinary shares of 10 pence each in the Company ("Ordinary Shares"), as follows:

Name	No. of Ordinary Shares subject to Option
Adam Couch	49,620
Mark Bottomley	32,800
Jim Brisby	32,800
Chris Aldersley	32,800

The LTIP nil-cost options were granted on 1 July 2023 in accordance with the Scheme and are based on a share price of 3250 pence per Ordinary Share, being the average quoted market price of the Company's shares on the three dealing days prior to the date of grant.

Each person has also been granted a tax qualifying option over 615 Ordinary Shares at an exercise price of 3250 pence per Ordinary Share as part of their award.  These tax qualifying options are linked to the LTIP nil-cost options such that, at the time of exercise, to the extent that there is a gain in the tax qualifying option, the LTIP nil-cost option will be forfeited to the value of that gain.

Vesting of the LTIP options and tax qualifying options is subject to the achievement of performance criteria based on growth in EPS (as regards 42.5% of each award), relative Total Shareholder Return (as regards 42.5% of each award), reduction in emissions (as regards 5% of each award), reduction in water intensity (as regards 5% of each award) and reduction in energy intensity (as regards 5% of each award).  The targets applying to each element are as follows. 

		Target
EPS	Threshold	215.6 pence per ordinary share
	Maximum	249.8 pence per ordinary share
Relative TSR	Threshold	Median
	Maximum	Upper decile
Emissions (tonnes Co2e)	Threshold	12.4% reduction
	Maximum	16.5% reduction
Water Intensity (m3/sales tonnes)	Threshold	12.2% reduction
	Maximum	16.3% reduction
Energy Intensity (kWh/sales tonnes)	Threshold	14.0% reduction
	Maximum	18.7% reduction

Notes

Threshold performance results in 25% of that element vesting. 

Emissions are total Scope 1 and Scope 2 emissions (location based) (tonnes CO2e)

Water Intensity is water intensity (m3/sales tonnes) excluding farms

TSR performance will be measured against companies in the FTSE 250 Index (excluding investment trusts).

Targets for the reduction of emissions, water intensity and energy intensity have been set based on the Group's published 2019/20 baseline performance and are consistent with the achievement of the Group's long-term target of achieving a 50% reduction in such measures by 2029/30 (after taking into account performance achieved to date).

Enquiries:

Steven Glover, Company Secretary tel: [phone]

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	Christopher Aldersley
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification/amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cranswick plc
b)	LEI	549300LDZLPU51XOSK43
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 shares of 10 pence each   GB0002318888
b)	Nature of the transaction	Grant of LTIP and CSOP Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Grant of LTIP Option 0p 32,800 Grant of CSOP Option 3250p 615
d)	Aggregated information -   Aggregated volume  -   Price -  Purpose	n/a n/a Option Grant
e)	Date of the transaction	1 July 2023
f)	Place of the transaction	Outside a Trading Venue

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 Mark Bottomley
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification/amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cranswick plc
b)	LEI	549300LDZLPU51XOSK43
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 shares of 10 pence each   GB0002318888
b)	Nature of the transaction	Grant of LTIP and CSOP Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Grant of LTIP Option 0p 32,800 Grant of CSOP Option 3250p 615
d)	Aggregated information -   Aggregated volume  -   Price -  Purpose	n/a n/a Option Grant
e)	Date of the transaction	1 July 2023
f)	Place of the transaction	Outside a Trading Venue

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	James Robert Brisby
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification/amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cranswick plc
b)	LEI	549300LDZLPU51XOSK43
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 shares of 10 pence each   GB0002318888
b)	Nature of the transaction	Grant of LTIP and CSOP Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Grant of LTIP Option 0p 32,800 Grant of CSOP Option 3250p 615
d)	Aggregated information -   Aggregated volume  -   Price -  Purpose	n/a n/a Option Grant
e)	Date of the transaction	1 July 2023
f)	Place of the transaction	Outside a Trading Venue

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	Adam Hartley Couch
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification/amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Cranswick plc
b)	LEI	549300LDZLPU51XOSK43
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 shares of 10 pence each   GB0002318888
b)	Nature of the transaction	Grant of LTIP and CSOP Options
c)	Price(s) and volume(s)	Price(s) Volume(s) Grant of LTIP Option 0p 49,620 Grant of CSOP Option 3250p 615
d)	Aggregated information -   Aggregated volume  -   Price -  Purpose	n/a n/a Option Grant
e)	Date of the transaction	1 July 2023
f)	Place of the transaction	Outside a Trading Venue

 

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