Convatec Group PLC (CTEC) Convatec Group PLC: Director/PDMR Shareholding 17-March-2023 / 10:30 GMT/BST

-----------------------------------------------------------------------------------------------------------------------

17 March 2023

Convatec Group Plc ("Convatec" or "the Company")

Director/ PDMR Shareholding

The Company has been notified of the following transactions in relation to Persons Discharging Managerial Responsibility ("PDMR") in respect of ordinary shares of 10 pence each in the Company ("Shares").

On 15 March 2023, awards were granted to Karim Bitar, the Company's Chief Executive Officer and Jonny Mason, the Company's Chief Financial Officer, under the Company's Deferred Bonus Plan ("DBP") in the form of restricted stock units ("RSUs"), which are due to vest on the third anniversary of grant and are not subject to performance conditions:

Karim Bitar: 201,937

Jonny Mason: 99,826

Further, on the same date, Karim Bitar and Jonny Mason were granted awards under the Company's Long-Term Incentive Plan ("LTIP") in the form of Performance Share Units ("PSUs"). These awards are due to vest on the third anniversary of grant, conditional on the following performance conditions: organic revenue growth, adjusted profit before tax growth, total shareholder return; and subject to a two-year post vesting holding period. Further details of the LTIP and performance conditions will be detailed in the Company's 2022 Annual Report.

Karim Bitar: 1,041,628

Jonny Mason: 565,610

The three-day average share price, closing on 14 March 2023 of GBP2.21 was used in determining the awards.

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1             Details of the person discharging managerial responsibilities/person closely associated 
a)            Name                             Karim Bitar 
2             Reason for the notification 
a)            Position/Status                     Chief Executive Officer 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                             Convatec Group Plc 
b)            LEI                              213800LS272L4FIDOH92 
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 
              Description of the financial     Ordinary share of 10p each in Convatec Group Plc 
              instrument, type of instrument 
a) 
              Identification code 
                                               GB00BD3VFW73 
                                                1. Grant of RSUs under the DBP, subject to a time-based 
                                                   vesting period of three years and continued employment. 
 
b)            Nature of the transaction         2. Grant of PSUs under the LTIP subject to (i) vesting period 
                                                   of three years (ii) performance conditions based on a combination of 
                                                   organic revenue growth, adjusted profit before tax growth and total 
                                                   shareholder return (iii) two year post vesting holding period. 
 
 
                                                                                                        Volume(s) 
                                                                                                         1. 
                                               Price(s)                                                     201,937 
c)            Price(s) and volume(s) 
                                                1. n/a                                 2. 
                                                2. n/a                                    1,041,628 
 
 
              Aggregated information 
d)            - Aggregated volume              N/A 
              - Price                          N/A 
e)            Date of the transaction          2023-03-15 
f)            Place of the transaction         Outside a trading venue 
 
1             Details of the person discharging managerial responsibilities/person closely associated 
a)            Name                             Jonny Mason 
2             Reason for the notification 
a)            Position/Status                     Chief Financial Officer 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                             Convatec Group Plc 
b)            LEI                              213800LS272L4FIDOH92 
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 
              Description of the financial     Ordinary share of 10p each in Convatec Group Plc 
              instrument, type of instrument 
a) 
              Identification code 
                                               GB00BD3VFW73 
                                                1. Grant of RSUs under the DBP, subject to a time-based 
                                                   vesting period of three years and continued employment. 
 
b)            Nature of the transaction         2. Grant of PSUs under the LTIP subject to (i) vesting period 
                                                   of three years (ii) performance conditions based on a combination of 
                                                   organic revenue growth, adjusted profit before tax growth and total 
                                                   shareholder return (iii) two year post vesting holding period. 
 
 
                                                                                                        Volume(s) 
                                                                                                         1. 
                                               Price(s)                                                     99,826 
c)            Price(s) and volume(s) 
                                                1. n/a                                 2. 
                                                2. n/a                                    565,610 
 
 
              Aggregated information 
d)            - Aggregated volume              N/A 
              - Price                          N/A 
e)            Date of the transaction          2023-03-15 
f)            Place of the transaction         Outside a trading venue 
 

Enquiries

Louise Bryson, Assistant Company Secretary +44(0)7423 694919

Cosec@convatec.com

Convatec Group Plc's LEI code is 213800LS272L4FIDOH92

About Convatec

Pioneering trusted medical solutions to improve the lives we touch: Convatec is a global medical products and technologies company, focused on solutions for the management of chronic conditions, with leading positions in advanced wound care, ostomy care, continence and critical care, and infusion care. With around 10,000 colleagues, we provide our products and services in almost 100 countries, united by a promise to be forever caring. Our solutions provide a range of benefits, from infection prevention and protection of at-risk skin, to improved patient outcomes and reduced care costs. Group revenues in 2022 were over USD2 billion. The company is a constituent of the FTSE 100 Index (LSE:CTEC). To learn more about Convatec, please visit http://www.convatecgroup.com.

----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

-----------------------------------------------------------------------------------------------------------------------

ISIN:          GB00BD3VFW73 
Category Code: DSH 
TIDM:          CTEC 
LEI Code:      213800LS272L4FIDOH92 
Sequence No.:  230778 
EQS News ID:   1585605 
 
End of Announcement  EQS News Service 
=------------------------------------------------------------------------------------
 

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1585605&application_name=news

 

(END) Dow Jones Newswires

March 17, 2023 06:30 ET (10:30 GMT)

Convatec (LSE:CTEC)
Historical Stock Chart
From May 2023 to May 2023 Click Here for more Convatec Charts.
Convatec (LSE:CTEC)
Historical Stock Chart
From May 2022 to May 2023 Click Here for more Convatec Charts.