Director LTIP Award

RNS Number : 7834P
discoverIE Group plc
22 June 2022
 

22 June 2022

 

discoverIE Group plc

 

Director LTIP Award

 

discoverIE Group plc (LSE: DSCV, "discoverIE" or "the Company"), a leading international designer and manufacturer of customised electronics for industrial applications, announces that, on 21 June 2022, options were granted for nil consideration over the following numbers of ordinary shares in the Company ("Ordinary Shares"), under the 2021 discoverIE Group plc Long Term Incentive Plan ("LTIP") (the "Awards"):

 

Director/PDMR

Number of Awards granted

Nick Jefferies

131,364

Simon Gibbins

78,619

 

The Awards will vest on 23 June 2025, subject to the achievement of performance targets measured over a three-year period. Vested options will be subject to an additional two-year holding period.

 

In addition to the Awards, a further 7,370 options over Ordinary Shares were granted to Simon Gibbins in return for him bearing the Company's liability for the employers' National Insurance Contributions arising on exercise. The additional award ensures he is in a neutral position on an after-tax basis.

 

 

For further information, please contact:

 

discoverIE Group plc

Greg Davidson - Company Secretary  01483 544 500

 

 

Buchanan

Chris Lane, Toto Berger, Jack Devoy  020 7466 5000

discoverIE@buchanan.uk.com

 

 

Notes to Editors :

 

discoverIE Group plc is an international group of businesses that designs and manufactures innovative electronic components for industrial applications.

 

The Group provides application-specific components to original equipment manufacturers ("OEMs") internationally through its two divisions, Magnetics & Controls, and Sensing & Connectivity. By designing components that meet customers' unique requirements, which are then manufactured and supplied throughout the life of their production, a high level of repeating revenue is generated with long term customer relationships.

 

With a focus on sustainable key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, electrification of transportation and industrial automation & connectivity, the Group aims to achieve organic growth that is well ahead of GDP and to supplement that with complementary acquisitions. The Group has an ongoing commitment to reducing the impact of its operations on the environment and with its key markets aligned with a sustainable future, MSCI has awarded the Group an ESG "A" rating.

 

The Group employs c.4,900 people across 20 countries with its principal operating units located in Continental Europe, the UK, China, Sri Lanka, India and North America.

 

discoverIE is listed on the Main Market of the London Stock Exchange and is a member of the FTSE250, classified within the Electrical Components and Equipment subsector.


 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Nick Jefferies

2

Reason for the notification

a)

Position / status

Group Chief Executive

b)

Initial notification / amendment

Initial notification

3

Details of issuer

a)

Name

discoverIE Group plc

b)

LEI

213800BMDLQU1VEEAN68

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

Options over Ordinary Shares

 

GB0000055888

b)

Nature of the transaction

Award made pursuant to the Company's

Long‐Term Incentive Plan

c)

Price(s) and volume(s)

 

Price

Volume

Nil

131,364

d)

Aggregated information

N/A

e)

Date of the transaction

21 June 2022

f)

Place of the transaction

Outside a trading venue

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Simon Gibbins

2

Reason for the notification

a)

Position / status

Group Finance Director

b)

Initial notification / amendment

Initial notification

3

Details of issuer

a)

Name

discoverIE Group plc

b)

LEI

213800BMDLQU1VEEAN68

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

Options over Ordinary Shares

 

GB0000055888

b)

Nature of the transaction

Award made pursuant to the Company's

Long‐Term Incentive Plan

c)

Price(s) and volume(s)

 

Price

Volume

Nil

85,989

d)

Aggregated information

N/A

e)

Date of the transaction

21 June 2022

f)

Place of the transaction

Outside a trading venue

 

 

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