Flowtech Fluidpower PLC Grant of Options under Long-Term Incentive Plan (9433J)
03 May 2022 - 4:01PM
UK Regulatory
TIDMFLO
RNS Number : 9433J
Flowtech Fluidpower PLC
03 May 2022
NEWS RELEASE
Issued on behalf of Flowtech
Fluidpower plc
Immediate Release
Tuesday, 3 May 2022
FLOWTECH FLUIDPOWER PLC
("Flowtech" or the "Company")
Specialist full-service supplier of technical fluid power
products and services
Grant of Options under Long-Term Incentive Plan
Flowtech Fluidpower plc, the UK's leading specialist supplier of
technical fluid power products and services, announces that the
Board's Remuneration Committee has approved the conditional grant
of nil cost options over ordinary shares of 50 pence each
("Ordinary Shares") under the Company's Long-Term Incentive Plan
("LTIP").
On 29 April 2022, options over 326,924 Ordinary Shares, in
aggregate (the "2022 Awards") were granted under the LTIP to
executive directors as set out below:
Director Role Number of shares over Total LTIP options
which held
2022 Awards are made following 2022 Awards
Chief Executive
Bryce Brooks Officer 173,077 360,577
----------------- --------------------- ----------------------
Chief Financial
Russell Cash Officer 153,847 320,514
----------------- --------------------- ----------------------
The LTIP is designed to incentivise management to deliver
long-term value creation for shareholders and ensure alignment with
shareholder interests.
The vesting of awards is subject to both share price and EPS
performance criteria measured on the results for the three year
financial period to 31 December 2024. The Remuneration Committee
has discretion to amend these terms to take account of, for
example, corporate activities such as acquisitions to ensure that
the performance targets remain appropriate. Malus and clawback
provisions are also in place to reduce or recover any awards for
criteria such as a material misstatement of the financial
statements or a serious breach of the Company's code of ethics.
The number of shares in respect of which the 2022 Awards shall
vest and may be exercised, shall depend upon the extent to which
the demanding performance conditions are satisfied.
ENQUIRIES:
--------------------------------------------------------
Flowtech Fluidpower plc
Bryce Brooks, Chief Executive
Russell Cash, Chief Financial Officer
Tel: +44 (0) 1695 52759
Email: info@flowtechfluidpower.com
Liberum (Nominated adviser and Sole Broker)
Richard Lindley / Ben Cryer / William Hall / Will King
Tel: +44 (0) 20 3100 2000
TooleyStreet Communications (IR and media relations)
Fiona Tooley
Tel: +44 (0) 7785 703523
or email : fiona@tooleystreet.com
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 Bryce Brooks
--------------------------------------------- -------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer /PDMR
--------------------------------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer, or auction monitor
------------------------------------------------------------------------------------------------
a) Name FLOWTECH FLUIDPOWER PLC
--------------------------------------------- -------------------------------------------------
b) LEI LEI: 213800N68SQY5X5XS290
--------------------------------------------- -------------------------------------------------
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 Ordinary shares of 50 pence each
financial instrument,
type of instrument
Identification code GB00BM4NR742
b) Nature of the transaction Grant of options over ordinary shares (LTIP)
c) Price(s) and volume(s) Price : Nil
Volume: 173,077
d) Aggregated information
N/a - single transaction
* Aggregated volume
* Price
--------------------------------------------- -------------------------------------------------
e) Date of the transaction 29 April 2022
--------------------------------------------- -------------------------------------------------
f) Place of the transaction Off market transaction
--------------------------------------------- -------------------------------------------------
1 Details of the person discharging managerial responsibilities /
person closely associated
a) Name Russell Cash
--------------------------------------------- -------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------------------
a) Position/status Chief Financial Officer/PDMR
--------------------------------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer, or auction monitor
------------------------------------------------------------------------------------------------
a) Name FLOWTECH FLUIDPOWER PLC
--------------------------------------------- -------------------------------------------------
b) LEI LEI: 213800N68SQY5X5XS290
--------------------------------------------- -------------------------------------------------
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 Ordinary shares of 50 pence each
the financial instrument,
type of instrument
Identification GB00BM4NR742
code
b) Nature of the transaction Grant of options over ordinary shares (LTIP)
c) Price(s) and volume(s) Price : Nil
Volume: 153,847
d) Aggregated information
N/a - single transaction
* Aggregated volume
* Price
e) Date of the transaction 29 April 2022
f) Place of the transaction Off market transaction
--------------------------------------------- -------------------------------------------------
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END
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