Coats Group PLC Director/PDMR Shareholding
26 March 2024 - 1:16AM
RNS Regulatory News
RNS Number : 2000I
Coats Group PLC
25 March 2024
25 March
2024
Coats Group
plc
Director/PDMR
Shareholding
Notification of Transactions
of Directors/Persons Discharging Managerial Responsibility and
their Closely Associated Persons
|
1
|
Details of the person discharging
managerial responsibilities/person closely associated
|
|
a)
|
Name
|
Jacqueline
Callaway
|
|
b)
|
Position/status
|
Chief Financial Officer
|
|
c)
|
Initial notification/
Amendment
|
Initial
notification
|
|
2
|
Details of the issuer, emission
allowance market participant, auction platform, auctioneer or
auction monitor
|
|
a)
|
Full name of entity
|
Coats Group plc
|
|
b)
|
Legal Entity Identifier
Code
|
2138003SPYWGAITNFY17
|
|
3
|
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
|
Share award constituting a right to
acquire Ordinary shares of £0.05
|
|
b)
|
Identification code/ ISIN
|
GB00B4YZN328
|
|
c)
|
Nature of the transaction
|
Award of nil cost share options
under the terms of the Coats Group plc Long Term Incentive Plan
("LTIP") as set out in the attached Appendix 1.
|
|
d)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
|
|
|
Nil
|
821,478
|
|
e)
|
Aggregated information
- Aggregated volume
- Price
|
821,478
n/a
|
|
f)
|
Date of the transaction
|
22
March 2024
|
|
g)
|
Place of the transaction
|
London Stock Exchange, Main Market
(XLON)
|
|
|
|
|
|
|
Enquiry details
|
|
|
|
|
Investors
|
Julian Wais
|
Coats Group plc
|
+44 (0)797 497 4690
|
|
|
|
|
|
|
Media
|
Richard Mountain / Nick
Hasell
|
FTI Consulting
|
+44 (0)20 3727 1374
|
|
|
|
|
|
Appendix 1
Coats Group plc -
2024 Long Term Incentive Award - Performance
Schedule
Introduction
The following schedule sets out the
performance conditions that will apply to the 2024 Coats Group plc
Long Term Incentive award. The performance period is 1
January 2024 to 31 December 2026.
Performance Measures &
Weighting
The award has four performance
measures and is weighted as set out below.
|
Measure
|
Weighting
(% of total
award)
|
Definition1
|
|
Coats Group plc Earnings Per Share
Compound Annual Growth (CAGR)
|
30%
|
The
Compound Annual Growth (CAGR) in EPS achieved in the performance
period. The Board will consider the CAGR in Normalised EPS
which is EPS, adjusted to exclude exceptional items such as
property gains or losses and the impact of IAS19 charges (pensions
finance).
|
|
Average Cash Conversion over 3-years
(Cash)
|
20%
|
The
average of the adjusted Free Cash Flow divided by normalised
Attributable Profit for each of the three years in the performance
period. The adjusted Free Cash Flow is before deficit repair
contributions to the UK pension scheme and after maintaining the
company's asset base ie operating cash flow minus capital
expenditures, adjusted for exceptional items such as property gains
or losses.
|
|
Total Shareholder Return
|
25%
|
The total
returns to shareholders which includes share price growth and
ordinary dividend payments. The performance condition is
measured against a comparator group consisting of the FTSE250 minus
investment trusts.
|
|
Sustainability
|
25%
|
Achievement of 5 independent equally weighted 2026
Sustainability goals.
|
|
TOTAL
|
100%
|
|
1.
Subject to such adjustments as required by the
Committee to ensure the performance condition fulfils its original
intent.
Performance Targets and Vesting
Schedule
|
EPS
CAGR (adjusted if necessary)
|
Threshold
|
Maximum
|
|
EPS CAGR in the period from
2024-2026. Measured from the 2023 base year
|
5%
|
13%
|
|
Vesting (The proportion of the award for this measure
that vests)
|
25%
|
100%
|
|
Average Cash Conversion
|
Threshold
|
Maximum
|
|
Average Cash Conversion over the
period 2024 to 2026
|
70%
|
90%
|
|
Vesting (The proportion of the award for this measure
that vests)
|
25%
|
100%
|
|
Total Shareholder Return
|
Threshold
|
Maximum
|
|
Ranking Position vs FTSE250
(excluding investment trusts)
|
Median
|
Upper
Quartile
|
|
Vesting (The proportion of the award for this measure
that vests)
|
25%
|
100%
|
|
Sustainability
|
Threshold
|
Maximum
|
|
Energy: Absolute reduction in Scope
1&2 emissions in tonnes from 2022 baseline
|
20%
|
24%
|
|
Sustainable Materials: Growth in
sustainable (non-virgin oil) based materials from 2022
baseline
|
Growth to
55%
|
Growth to
65%
|
|
Waste: Zero waste generated within
our facilities being
diverted to landfill
sites.
|
93%
reduction from 2022 baseline
|
100%
reduction and zero waste to landfill by 2026
|
|
Diversity & inclusion: Percentage
of females in senior leadership roles
|
28%
|
32%
|
|
People: Percentage of employees in
Coats units that have a
GPTW or equivalent
certification
|
87%
|
89%
|
|
Vesting (The proportion of the award for this measure
that vests)
|
25%
|
100%
|
There is a proportionate
straight-line vesting for performance between each of the targets
shown above.
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END
DSHUVASRSVUOUAR
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