Convatec Group PLC: Director/PDMR Shareholding
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 £2.21 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
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary share of 10p each in Convatec Group Plc
GB00BD3VFW73
b)
Nature of the transaction
Grant of RSUs under the DBP, subject to a time-based vesting period of three years and continued employment.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.
c)
Price(s) and volume(s)
Price(s)
n/a n/aVolume(s)
201,937 1,041,628
d)
Aggregated information
- Aggregated volume
- Price
N/A
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
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary share of 10p each in Convatec Group Plc
GB00BD3VFW73
b)
Nature of the transaction
Grant of RSUs under the DBP, subject to a time-based vesting period of three years and continued employment.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.
c)
Price(s) and volume(s)
Price(s)
n/a n/aVolume(s)
99,826 565,610
d)
Aggregated information
- Aggregated volume
- Price
N/A
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 $2 billion. The company is a constituent of the FTSE 100 Index (LSE:CTEC). To learn more about Convatec, please visit http://www.convatecgroup.com.
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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