Top

Director/PDMR Shareholding






RNS Number : 4286X
Genuit Group PLC
25 April 2023
 

Genuit Group plc (the “Company’)

Notification of Transactions by Persons Discharging Managerial Responsibilities

The Company confirms that on 21 April 2023, in accordance with its shareholder approved Remuneration Policy, it granted to each of the following Directors/Persons Discharging Managerial Responsibility (“PDMRs”) an award (structured as a nil cost option) under the Genuit Group plc 2014 Long Term Incentive Plan (the “LTIP”). In addition, the Company made an award, subject to the same performance conditions as set out below, under the LTIP, to 27 members of the Senior Management Team. The awards, which have been granted in respect of the financial year beginning on 1 January 2023, are over the following maximum number of Ordinary Shares of £0.001 each in the Company (“Shares”) in the Company:

Name/Position

 

Category

Maximum number of Shares

Joe Vorih /Chief Executive Officer

Director

312,534

Paul James/Chief Financial Officer

Director

189,753

Clare Taylor/Chief People Officer

PDMR

55,184

Martin Gisbourne/Chief Strategy and Sustainability Officer

PDMR

60,686

Emma Versluys/Group Legal Counsel & Company Secretary

PDMR

43,347

The vesting of each award is subject to the satisfaction of the following performance conditions:

1.   25% of the maximum potential award is based on a Total Shareholder Return performance condition, with 25% of the TSR element vesting for achieving median and 100% vesting for achieving upper quartile performance relative to the Total Shareholder Return of the companies in a comparator group (consisting of companies in the FTSE 250 Index that are classified as Industrials by the Industry Classification Benchmark);

 

2.   25% of the maximum potential award is based on sustainability targets set to align with the Company’s sustainability strategy. The targets are as follows:

 

a.   Carbon reduction target – 8.33% of the total award is based on emissions intensity that is defined as Scopes 1 and 2 tonnes of CO2e per tonne of output with 25% of the carbon reduction target vesting for achieving an emissions intensity of 0.093 and 100% vesting for achieving an emissions intensity of 0.086 as measured in FY 2025;

b.   Use of recycled plastics – 8.33% of the total award is based on the proportion of our products that are manufactured from recycled products, with 25% of the use of recycled plastics target vesting for achieving 57.4% and 100% vesting when reaching 62.0% as measured in FY 2025; and

c.   The 5% Club – this target is based on the Group’s commitment to creating a sustainable business culture with 25% of the 5% Club target vesting when progress towards the 5% Club reaches 4.6% and 100% vesting when 5% is reached as measured in FY 2025.

 

3.   50% of the maximum potential award is based on an Underlying Diluted Earnings per Share (“EPS”) performance condition based on FY 2025 EPS with 25% of the EPS target vesting for achieving an EPS of 30.1p and 100% vesting for an EPS of 35.6p.

The performance conditions are all measured over the three-year period commencing on 1 January 2023, using measures and baselines as described above. The Committee also retains discretion to reduce vesting if it considers that the level of vesting is not consistent with the Company’s overall performance over the three-year period.

Subject to the satisfaction of the performance conditions, the awards will normally vest on 21 April 2026 and remain exercisable until the tenth anniversary of the grant date.

The notifications below, which have been made in accordance with the requirements of the UK Market Abuse Regulation, provide further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated. 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Joe Vorih

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Executive Officer/Director and PDMR

b)

 

Initial notification /Amendment

 

Initial notification

3

 

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

 

a)

 

Name

 

Genuit Group plc

b)

 

LEI

 

2138005IF1N2RKJ6KO18

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 £0.001 each in the capital of Genuit Group plc

 

 

GB00BKRC5K31

b)

 

Nature of the transaction

 

 

Grant of an award, structured as a nil cost option, under the Company’s 2014 Long Term Incentive Plan.

 

c)

 

Price(s) and volume(s)

 

 

 

 

 

 

Price(s)

 

Volume(s)

Nil

312,534

d)

 

Aggregated information

 

– Aggregated volume

 

– Price

 

N/A

 

 

 

 

 

e)

 

Date of the transaction

 

21 April 2023

f)

 

Place of the transaction

 

Outside a Trading Venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Paul James

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Financial Officer/Director and PDMR

b)

 

Initial notification /Amendment

 

Initial notification

3

 

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

 

a)

 

Name

 

Genuit Group plc

b)

 

LEI

 

2138005IF1N2RKJ6KO18

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 £0.001 each in the capital of Genuit Group plc

 

 

GB00BKRC5K31

 

b)

 

Nature of the transaction

 

 

Grant of an award, structured as a nil cost option, under the Company’s 2014 Long Term Incentive Plan.

 

c)

 

Price(s) and volume(s)

 

 

 

 

 

 

Price(s)

 

Volume(s)

Nil

189,753

d)

 

Aggregated information

 

– Aggregated volume

 

– Price

 

N/A

 

 

 

 

 

e)

 

Date of the transaction

 

21 April 2023

f)

 

Place of the transaction

 

Outside a Trading Venue

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Clare Taylor

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief People Officer/PDMR

b)

 

Initial notification /Amendment

 

Initial notification

3

 

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

 

a)

 

Name

 

Genuit Group plc

b)

 

LEI

 

2138005IF1N2RKJ6KO18

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 £0.001 each in the capital of Genuit Group plc

 

 

GB00BKRC5K31

 

b)

 

Nature of the transaction

 

 

Grant of an award, structured as a nil cost option, under the Company’s 2014 Long Term Incentive Plan.

 

c)

 

Price(s) and volume(s)

 

 

 

 

 

 

Price(s)

 

Volume(s)

Nil

55,184

d)

 

Aggregated information

 

– Aggregated volume

 

– Price

 

N/A

 

 

 

 

 

e)

 

Date of the transaction

 

21 April 2023

f)

 

Place of the transaction

 

Outside a Trading Venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Martin Gisbourne

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Strategy and Sustainability Officer/PDMR

b)

 

Initial notification /Amendment

 

Initial notification

3

 

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

 

a)

 

Name

 

Genuit Group plc

b)

 

LEI

 

2138005IF1N2RKJ6KO18

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 £0.001 each in the capital of Genuit Group plc

 

 

GB00BKRC5K31

 

b)

 

Nature of the transaction

 

 

Grant of an award, structured as a nil cost option, under the Company’s 2014 Long Term Incentive Plan.

 

c)

 

Price(s) and volume(s)

 

 

 

 

 

 

Price(s)

 

Volume(s)

Nil

60,686

 

d)

 

Aggregated information

 

– Aggregated volume

 

– Price

 

N/A

 

 

 

 

 

e)

 

Date of the transaction

 

21 April 2023

f)

 

Place of the transaction

 

Outside a Trading Venue

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

 

a)

 

Name

 

Emma Versluys

 

2

 

Reason for the notification

 

 

a)

 

Position/status

 

Group Legal Counsel & Company Secretary/PDMR

 

b)

 

Initial notification /Amendment

 

Initial notification

 

3

 

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

 

 

a)

 

Name

 

Genuit Group plc

 

b)

 

LEI

 

2138005IF1N2RKJ6KO18

 

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 £0.001 each in the capital of Genuit Group plc

 

 

GB00BKRC5K31

 

 

b)

 

Nature of the transaction

 

 

Grant of an award, structured as a nil cost option, under the Company’s 2014 Long Term Incentive Plan.

 

 

c)

 

Price(s) and volume(s)

 

 

 

 

 

 

Price(s)

 

Volume(s)

Nil

43,347

 

d)

 

Aggregated information

 

– Aggregated volume

 

– Price

 

N/A

 

 

 

 

 

 

e)

 

Date of the transaction

 

21 April 2023

 

f)

 

Place of the transaction

 

Outside a Trading Venue

 

 

 

Contacts:

Emma Versluys, Group Legal Counsel & Company Secretary      

 

 

 

+44 (0) 1138 315 315

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 
 

DSHNKPBDPBKDQQB

Related posts

In Search of the Perfect Circle
Read more
Cutting Carbon in Construction
Read more
Supporting The Transition to Low Carbon Construction
Read more
Genuit Group becomes Corporate Patron of CRASH
Read more