TI Fluid Systems PLC Notification of Transaction of PDMRs
22 May 2024 - 4:10PM
RNS Regulatory News
RNS Number : 4326P
TI Fluid Systems PLC
22 May 2024
22 May 2024
TI Fluid Systems plc
(the "Company")
Notification of transactions of
Directors/
Persons Discharging Managerial
Responsibilities ("PDMRs")
Grant of Awards under the Company's Long
Term Incentive Plan (the "Plan")
The Company announces that,
effective 3 May 2024, awards of contingent rights to receive shares
of the Company have been made to Executive Directors and PDMRs
under the Plan.
The awards were made at no cost to
the individual and will vest, subject to the rules of the Plan,
based on the Company's performance during the three-year period of
FY2024-2026 against three measures relating to (i) Adjusted Return
on Capital Employed, (ii) Cumulative Adjusted Earnings per Share,
and (iii) Total CO2(e) Emissions during performance
period (metric tonnes). The amount of the awards governed by each
performance measure (weighting) is shown in the table
below.
|
Performance
Measure
|
Percentage of Award for
Executive Directors and PDMRs
|
|
Adjusted
Return on Capital Employed (ROCE)
|
50%
|
|
Cumulative Adjusted Earnings per Share
|
25%
|
|
Total
CO2(e) Emissions during performance period (metric
tonnes)
|
25%
|
The following notifications are made
in accordance with the requirements of Article 19(3) of the Market
Abuse Regulation.
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Hans Dieltjens
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Executive Officer and
President and Executive Director
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
TI Fluid Systems plc
|
|
b)
|
LEI
|
5493001T9RXVD6OAWY46
|
|
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, type of instrument
Identification code
|
Ordinary Shares of TI Fluid Systems
plc of £0.01 each
GB00BYQB9V88
|
|
b)
|
Nature of the transaction
|
Award of contingent rights to
receive shares under the TI Fluid Systems plc Long Term Incentive
Plan for nil consideration.
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
£1.569
|
1,460,100 Ordinary Shares
|
|
|
d)
|
Aggregated
information
- Aggregated volume
- Price
|
N/A
|
|
e)
|
Date of the transaction
|
3 May 2024
|
|
f)
|
Place of the transaction
|
XLON
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Alexander De Bock
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Financial Officer and
Executive Director
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
TI Fluid Systems plc
|
|
b)
|
LEI
|
5493001T9RXVD6OAWY46
|
|
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, type of instrument
Identification code
|
Ordinary Shares of TI Fluid Systems
plc of £0.01 each
GB00BYQB9V88
|
|
b)
|
Nature of the transaction
|
Award of contingent rights to
receive shares under the TI Fluid Systems plc Long Term Incentive
Plan for nil consideration.
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
£1.569
|
840,842 Ordinary Shares
|
|
|
d)
|
Aggregated
information
- Aggregated volume
- Price
|
N/A
|
|
e)
|
Date of the transaction
|
3 May 2024
|
|
f)
|
Place of the transaction
|
XLON
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Steve Vercauteren
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
President, EMEA
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
TI Fluid Systems plc
|
|
b)
|
LEI
|
5493001T9RXVD6OAWY46
|
|
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, type of instrument
Identification code
|
Ordinary Shares of TI Fluid Systems
plc of £0.01 each
GB00BYQB9V88
|
|
b)
|
Nature of the transaction
|
Award of contingent rights to
receive shares under the TI Fluid Systems plc Long Term Incentive
Plan for nil consideration.
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
£1.569
|
472,586 Ordinary Shares
|
|
|
d)
|
Aggregated
information
- Aggregated volume
- Price
|
N/A
|
|
e)
|
Date of the transaction
|
3 May 2024
|
|
f)
|
Place of the transaction
|
XLON
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Julien Plenchette
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
President, Americas
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
TI Fluid Systems plc
|
|
b)
|
LEI
|
5493001T9RXVD6OAWY46
|
|
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, type of instrument
Identification code
|
Ordinary Shares of TI Fluid Systems
plc of £0.01 each
GB00BYQB9V88
|
|
b)
|
Nature of the transaction
|
Award of contingent rights to
receive shares under the TI Fluid Systems plc Long Term Incentive
Plan for nil consideration.
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
£1.569
|
305,761 Ordinary Shares
|
|
|
d)
|
Aggregated
information
- Aggregated volume
- Price
|
N/A
|
|
e)
|
Date of the transaction
|
3 May 2024
|
|
f)
|
Place of the transaction
|
XLON
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Henri Tsang
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
President, Asia Pacific
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
TI Fluid Systems plc
|
|
b)
|
LEI
|
5493001T9RXVD6OAWY46
|
|
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, type of instrument
Identification code
|
Ordinary Shares of TI Fluid Systems
plc of £0.01 each
GB00BYQB9V88
|
|
b)
|
Nature of the transaction
|
Award of contingent rights to
receive shares under the TI Fluid Systems plc Long Term Incentive
Plan for nil consideration.
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
£1.569
|
334,034 Ordinary Shares
|
|
|
d)
|
Aggregated
information
- Aggregated volume
- Price
|
N/A
|
|
e)
|
Date of the transaction
|
3 May 2024
|
|
f)
|
Place of the transaction
|
XLON
|
Enquiries:
TI Fluid Systems plc
Kellie McAvoy
Investor Relations
Tel: +44 7354 846374
Headland Consultancy
Matt Denham/Chloe
Francklin
Tel: +44 (0)20 3805 4822
About TI Fluid Systems plc
TI Fluid Systems is a global
innovator of thermal and fluid system solutions for the full range
of current and developing vehicle architectures. Serving all major
automotive manufacturers, with more than 100 years of automotive
supply experience; TI Fluid Systems operates across 27 countries
with a commitment to improving efficiency, performance and
sustainability worldwide. To find out more about TI Fluid Systems,
visit www.tifluidsystems.com.
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