Notification of transaction by Person Discharging Managerial Responsibilities
The Company announces that today, 24 May 2018, Martin Payne, Chief Executive Officer and a Person Discharging Managerial Responsibilities, exercised a nil-cost option over 11,035 ordinary shares of £0.001 each in the capital of the Company (‘Shares’), in accordance with the Deferred Share Award that was granted to him on 31 May 2016, full details of which were included in a regulatory announcement released on 31 May 2016 and in the Company’s 2016 Annual Report and Accounts. The Company’s Employee Benefit Trust has today transferred 5,849 Shares to Mr. Payne which represents the net number of Shares due to him after the addition of dividend shares and the appropriate tax and national insurance liabilities were taken into account. Mr. Payne now holds an interest in a total of 115,575 Shares in the Company.
The notification below, which has been made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
Details of the person discharging managerial responsibilities / person closely associated
Reason for the notification
Chief Executive Officer/Director and PDMR
Initial notification /Amendment
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Polypipe Group plc
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
Description of the financial instrument, type of instrument
Ordinary Shares (“Shares”) of £0.001 each in the capital of Polypipe Group plc
Nature of the transaction
Acquisition of Shares for no consideration pursuant to the exercise of nil-cost options granted as a Deferred Share Award on 31 May 2016.
Price(s) and volume(s)
10,449 – Number of Shares vesting and over which option was exercised.
586 – Number of Shares awarded at vesting in lieu of dividends paid during the vesting period
5,849 – Number of Shares acquired after reduction for appropriate tax and national insurance liabilities.
– Aggregated volume
Date of the transaction
24 May 2018
Place of the transaction
Outside of a Trading Venue
Emma Versluys, Company Secretary
+44 (0) 1709 770 000
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