Business
PDMR Shareholding Grant of Options
PDMR Shareholding Grant of Options.
About this update from Porvair Plc
[{"type":"text","content":"\n \nRNS Number : 6701C Porvair PLC 11 February 2020 \n\nFor immediate release 11 February 2020\n \n \nPDMR Shareholding\nGrant of Options\n \nPorvair plc (\"Porvair\", the \"Group\" or the \"Company\"), the specialist filtration and environmental technologies group, announces that on 7 February 2020 it granted options under the Group's Long Term Share Plan (\"LTSP\") to the Executive Directors.\nGrant of LTSP options:\nOptions under the LTSP were granted as follows:\n \n\n\n\nDirector\n\n\nPosition\n\n\nOptions awarded at 2 pence each\n\n\nGrant date\n\n\nVesting date\n\n\nMinimum holding period\n\n\nTotal options held, including SAYE options\n\n\n\n\nBen Stocks\n\n\nCEO\n\n\n54,000\n\n\n7 February 2020\n\n\n7 February 2023\n\n\n2 years after vesting\n\n\n268,637\n\n\n\n\nChris Tyler\n\n\nCFO\n\n\n38,000\n\n\n193,580\n\n\n\n \nThese options can only be exercised in full if the Remuneration Committee is satisfied that in the financial year ending 30 November 2022 ('FY2022') the Group has achieved Adjusted EPS of at least 33.7 pence. 30% of the award will vest if the Group has achieved Adjusted EPS of 29.2 pence in FY2022. A sliding scale will operate if Adjusted EPS are between 29.2 pence and 33.7 pence. No shares vest if the Adjusted EPS in FY2022 are below 29.2 pence. After the vesting period, before the end of the two year holding period, the option holder may exercise the option but may only sell sufficient shares to settle the option price and the income tax payable. The options may be exercised after the vesting period up until 7 February 2030. Claw-back and malus provisions apply.\n \nFollowing this grant the total number of LTSP and SAYE options in issue is 818,965 representing approximately 1.8% of the shares in issue.\n \n \nFor further information, please contact:\n\n\n\nPorvair plc\n\n\n\n\n\n01553 765 500\n\n\n\n\nBen Stocks, Chief Executive\n\n\n\n\n\n\n\n\n\n\nCh...