TIDMGEN
RNS Number : 5694J
Genuit Group PLC
27 April 2022
Genuit Group plc (the "Company')
Notification of Transactions by Persons Discharging Managerial
Responsibilities
The Company hereby notifies the following changes in the
interests of directors and persons discharging managerial
responsibility ("PDMRs") in Ordinary Shares of GBP0.001 each in the
Company ("Shares") on 22 April 2022.
Grant of Long-Term Incentive Plan awards
The Company confirms that on 22 April 2022, in accordance with
its shareholder approved Remuneration Policy, it granted to each of
the following Directors/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 37 members of the Senior Management Team. The awards, which have
been granted in respect of the financial year beginning on 1
January 2022, are over the following maximum number of Shares in
the Company:
Name/Position Category Maximum number of Shares
J M Vorih /Chief Executive Officer Director 183,139
---------- -------------------------
P A James/Chief Financial Officer Director 111,191
---------- -------------------------
M G Pullen/Chief Operating Officer Director 111,159
---------- -------------------------
C Taylor/Chief People Officer PDMR 26,947
---------- -------------------------
M Gisbourne/Group Marketing &
Strategy Director PDMR 26,002
---------- -------------------------
E G Versluys/Group Legal Counsel
& Company Secretary PDMR 19,649
---------- -------------------------
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 Scope 1 and Scope 2
tonnes of CO2e per tonne of output with 25% of the carbon reduction
target vesting for achieving an emissions intensity of 0.108 and
100% vesting for achieving an emissions intensity of 0.086 as
measured in FY 2024;
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 54.4% and 100% vesting when reaching 62.0% as
measured in FY 2024; 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 4.2% and
100% vesting when 5% is reached as measured in FY 2024.
3. 50% of the maximum potential award is based on an Underlying
Diluted Earnings per Share ("EPS") performance condition based on
FY 2024 EPS with 25% of the EPS target vesting for achieving an EPS
of 31.5p and 100% vesting for an EPS of 37.3p.
The performance conditions are all measured over the three-year
period commencing on 1 January 2022, 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 22 April 2025 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 Initial notification
/Amendment
-------------------------- ----------------------------------------
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 Ordinary Shares of GBP0.001 each
financial instrument, in the capital of Genuit Group plc
type of instrument
Identification code GB00BKRC5K31
-------------------------- ----------------------------------------
b) Nature of the transaction G rant 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 183,139
----------
-------------------------- ----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
-------------------------- ----------------------------------------
e) Date of the transaction 22 April 2022
-------------------------- ----------------------------------------
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 Initial notification
/Amendment
-------------------------- ----------------------------------------
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 Ordinary Shares of GBP0.001 each
financial instrument, in the capital of Genuit Group plc
type of instrument
Identification code GB00BKRC5K31
-------------------------- ----------------------------------------
b) Nature of the transaction G rant 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 111,191
----------
-------------------------- ----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
-------------------------- ----------------------------------------
e) Date of the transaction 22 April 2022
-------------------------- ----------------------------------------
f) Place of the transaction Outside a Trading Venue
-------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Matt Pullen
-------------------------- ----------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Chief Operating Officer/Director
and PDMR
-------------------------- ----------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- ----------------------------------------
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 Ordinary Shares of GBP0.001 each
financial instrument, in the capital of Genuit Group plc
type of instrument
Identification code GB00BKRC5K31
-------------------------- ----------------------------------------
b) Nature of the transaction G rant 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 111,159
----------
-------------------------- ----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
-------------------------- ----------------------------------------
e) Date of the transaction 22 April 2022
-------------------------- ----------------------------------------
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 Initial notification
/Amendment
-------------------------- ----------------------------------------
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 Ordinary Shares of GBP0.001 each
financial instrument, in the capital of Genuit Group plc
type of instrument
Identification code GB00BKRC5K31
-------------------------- ----------------------------------------
b) Nature of the transaction G rant 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 26,947
----------
-------------------------- ----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
-------------------------- ----------------------------------------
e) Date of the transaction 22 April 2022
-------------------------- ----------------------------------------
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 Group Strategy & Marketing Director/PDMR
-------------------------- -----------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -----------------------------------------
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 Ordinary Shares of GBP0.001 each
financial instrument, in the capital of Genuit Group plc
type of instrument
Identification code GB00BKRC5K31
-------------------------- -----------------------------------------
b) Nature of the transaction G rant 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 26,002
----------
-------------------------- -----------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
-------------------------- -----------------------------------------
e) Date of the transaction 22 April 2022
-------------------------- -----------------------------------------
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 Initial notification
/Amendment
------------------------------ ------------------------------------------------
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 Ordinary Shares of GBP0.001 each
financial instrument, in the capital of Genuit Group plc
type of instrument
Identification code GB00BKRC5K31
------------------------------ ------------------------------------------------
b) Nature of the transaction G rant 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 19,649
----------
------------------------------ ------------------------------------------------
d) Aggregated information N/A
- Aggregated volume
- Price
------------------------------ ------------------------------------------------
e) Date of the transaction 22 April 2022
------------------------------ ------------------------------------------------
f) Place of the transaction Outside a Trading Venue
------------------------------ ------------------------------------------------
Contacts:
Emma Versluys, Group Legal Counsel & Company +44 (0) 1138 315
Secretary 315
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END
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