RNS Number : 5387B
Polypipe Group PLC
07 June 2019
 

Polypipe Group plc (the "Company")

Notification of transactions by Person Discharging Managerial Responsibilities

The Company announces that on 6 June 2019, Martin Payne, Chief Executive Officer and a Person Discharging Managerial Responsibilities, exercised the following options:

1.  a nil-cost option over 11,354 ordinary shares of £0.001 each in the capital of the Company ('Shares') (comprising 10,449 Shares granted under the Award and 905 Shares awarded at vesting in lieu of dividends paid during the vesting period), in accordance with the Deferred Share Award that was granted to him on 31 May 2016. Full details of the Award were included in a regulatory announcement released on 31 May 2016 and in the Company's 2016 Annual Report and Accounts. The Company's Employee Benefit Trust has today transferred 6,018 Shares to Mr. Payne which represents the net number of Shares due to him after the addition of dividend shares and the appropriate tax and national insurance liabilities were taken into account.

2.   a nil-cost option over 68,258 Shares in accordance with the Long Term Incentive Award granted to him on 31 May 2016. Mr Payne sold sufficient shares to cover the appropriate tax and national insurance liabilities due on exercise.

3.   a nil-cost option over 4,121 Shares in accordance with the Deferred Share Bonus Plan Award granted to him on 25 April 2017. Mr Payne sold sufficient shares to cover the appropriate tax and national insurance liabilities due on exercise.

Mr Payne now holds an interest in a total of 159,817 Shares.

The notification below, which has been made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

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

 

 

Martin Payne

 

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Chief Executive Officer/Director 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

 

 

Polypipe 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 financial instrument, type of instrument

 

Identification code

 

 

Ordinary Shares ("Shares") of £0.001 each in the capital of Polypipe Group plc

 

 

GB00BKRC5K31

 

b)

 

Nature of the transaction

 

 

Acquisition of Shares for no consideration pursuant to the exercise of nil-cost options as follows:

Deferred Share Award  ("DSA") granted on 31 May 2016

Long Term Incentive Plan  ("LTIP") award granted on 31 May 2016

Deferred Share Bonus Plan ("DSBP") award granted on 25 April 2017

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

Nil

 

6,018 - Number of DSA Shares acquired after reduction for appropriate tax and national insurance liabilities.

 

36,048 - Number of LTIP Shares acquired after reduction for appropriate tax and national insurance liabilities.

 

2,176 - Number of DSBP Shares acquired after reduction for appropriate tax and national insurance liabilities.

 

 

 

 

d)

 

Aggregated information

 

 

- Aggregated volume

 

 

- Price

 

 

N/A

 

 

 

 

 

 

 

e)

 

Date of the transaction

 

 

6 June 2019

f)

 

Place of the transaction

 

 

Outside a Trading Venue

 

Enquiries:

Emma Versluys, Company Secretary

44 (0) 1709 770 000


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
DSHCKODKKBKDPAK