Bunzl PLC Director/PDMR Shareholding (0368M)
12 September 2019 - 2:41AM
UK Regulatory
TIDMBNZL
RNS Number : 0368M
Bunzl PLC
11 September 2019
Notification of transactions by person discharging managerial
responsibilities
1 Details of the person discharging managerial responsibilities
a) Name Richard Howes
-------------------------- ------------------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status Chief Financial Officer designate
-------------------------- ------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- ------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------
a) Name Bunzl plc
-------------------------- ------------------------------------------
b) LEI 213800Q1Q9DV4L78UM09
-------------------------- ------------------------------------------
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, Ordinary shares of 32 1/7 pence each
type of instrument
GB00B0744B38
Identification code
-------------------------- ------------------------------------------
b) Nature of the transaction Grant of three nil cost option awards
under a share award agreement entered
into in respect of terms agreed in
relation to Richard Howes' recruitment
and in recognition of forfeited Inchcape
plc share-based awards.
The following normal vesting dates
apply: (i) 26 May 2020 for award
A; (ii) 10 April 2021 for award B
and (iii) 11 April 2022 for award
C.
Award A is subject to Inchcape plc
EPS and ROCE performance conditions
and performance period as set for
awards granted by Inchcape plc on
26 May 2017 and 27 June 2017 under
its executive plans. Award A cannot
vest as to greater than one-half
of its total award shares.
Awards B and C are subject to the
same Bunzl plc EPS and TSR performance
conditions and performance periods
set for awards granted to senior
exectuives on 9 April 2018 and 8
April 2019 respectively under Part
B of the Bunzl Long Term Incentive
Plan (2014).
Common terms: (i) risk of forfeiture
(ii) two-year post vesting holding
period (on a net of tax basis); (iii)
malus and clawback provisions and
(iv) limited to settlement with existing
shares (not being treasury shares).
The share award agreement was entered
into pursuant to Rule 9.4.2(2) of
the FCA Listing Rules.
-------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil A. 39,538 (maxiumum
vesting capped
at 19,769)
B. 46,824
C. 59,112
---------------------
-------------------------- ------------------------------------------
d) Aggregated information
- Aggregated volume 145,474 (maximum vesting capped at
125,705)
- Price
Nil
-------------------------- ------------------------------------------
e) Date of the transaction 2019-09-11
-------------------------- ------------------------------------------
f) Place of the transaction Outside of a trading venue
-------------------------- ------------------------------------------
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END
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