Director/PDMR Shareholding

RNS Number : 4615S
TT Electronics PLC
16 March 2021
 

 

16 March 2021

TT Electronics plc

Deferred Share Bonus Plan

 

 

TT Electronics plc (the "Company") announces that conditional awards of ordinary shares of 25p each in the Company ("Shares") were granted on 16 March 2021 under the Company's Deferred Share Bonus Plan to the Executive Directors of the Company.

 

In deciding the 2020 short-term incentive award to the Executive Directors, the Remuneration Committee decided to defer the full award into Shares rather than adopt the 80 per cent cash payment and 20 per cent deferred share approach as per the default under the Remuneration Policy and accordingly the awards represent such 100 per cent deferral in Shares.

 

Executive Director  Number of Shares

 

Richard Tyson  105,058

Mark Hoad                                                                                         78,808

 

In line with the Remuneration Policy 20 per cent of the award will vest on the second anniversary and the remaining 2020 STIP award, deferred in excess of the Remuneration Policy default, will vest on the first anniversary.

 

No consideration was payable for the grant of awards. 

 

Awards are subject to malus and clawback provisions.

 

The Company was informed of the above transactions on 16 March 2021. The following notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further details.

 

 

1.

DetailsofPDMR/person closely associated with them ('PCA')

a)

Name

Richard Tyson

 

2.

Reason for the notification

a)

Position / status

CEO

b)

Initial notification /

Amendment

Initial notification

3.

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

a)

Name

TT Electronics plc

b)

LEI

213800TJGBW5VFHQEV54

4.

Details of the transaction(s)

a)

Description of the financial instrument, type of instrument

 

Identification Code

Ordinary shares of 25p each

 

 

 

GB0008711763

b)

Nature of the transaction

Grant of conditional award of ordinary shares under the terms of the Deferred Share Bonus Plan.

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

£0.00

105,058

 

d)

Aggregated information

Aggregated volume

Price

 

See 4c above

See 4c above

 

e)

Date of the transaction

2021-03-16

f)

Place of the transaction

Outside a trading venue

 

 

1.

DetailsofPDMR/person closely associated with them ('PCA')

a)

Name

Mark Hoad

 

2.

Reason for the notification

a)

Position / status

CFO

b)

Initial notification /

Amendment

Initial notification

3.

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

a)

Name

TT Electronics plc

b)

LEI

213800TJGBW5VFHQEV54

4.

Details of the transaction(s)

a)

Description of the financial instrument, type of instrument

 

Identification Code

Ordinary shares of 25p each

 

 

 

GB0008711763

b)

Nature of the transaction

Grant of conditional award of ordinary shares under the terms of the Deferred Share Bonus Plan.

 

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

£0.00

78,808

 

d)

Aggregated information

Aggregated volume

Price

 

See 4c above

See 4c above

 

e)

Date of the transaction

2021-03-16

f)

Place of the transaction

Outside a trading venue

 

 

 

For further information please contact:

 

TT Electronics plc

Richard Tyson, Chief Executive Officer:   Tel:  + 44 (0)1932 825300

Mark Hoad, Chief Financial Officer:

Julian Wais, Head of Investor Relations 

 

MHP Communications

Tim Rowntree / Rachel Mann:  Tel:  +44 (0)20 3128 8100

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