PINE.L

Pinewood Technologies Group
Pinewood Tech Gp PLC - Notification of Transactions by PDMRs
16th July 2024, 06:00
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RNS Number : 4835W
Pinewood Technologies Group PLC
16 July 2024
 

16 July 2024

Pinewood Technologies Group PLC (the "Company")

Notification and public disclosure of transactions by PDMRs

 

Conditional awards under the Pinewood Technologies Group Long Term Incentive Plan ("LTIP")

 

The Company announces that it has granted awards in the form of conditional share awards ("LTIP Awards") over ordinary shares of the Company of £1.00 each ("Shares") pursuant to the Company's LTIP on 15 July 2024 to the Executive Directors listed below:-

 

Director

Number Shares under LTIP Award

William Berman

1,256,067

Oliver Mann 

291,262

 

The normal vesting date of the LTIP Awards will be the third anniversary of the grant date.

 

Vesting of the LTIP Awards is subject to continued service and satisfaction of a primary performance condition based on absolute Total Shareholder Return ("TSR"). TSR performance will be measured against stretching targets to reflect the accelerated growth strategy of the Company. In addition to the absolute TSR targets, the LTIP Awards are also subject to three performance underpins. To the extent that one or more of the underpins are not considered to be met, the Remuneration Committee retains the discretion to reduce award levels appropriately (including to zero).

 

Further detail regarding the TSR performance condition and underpins are set out in the notice of the General Meeting of the Company held on 26 June 2024.  

 

Conditional award under the Pinewood Technologies Group Deferred Share Plan ("DSP")

 

The Company announces that it has granted an award in the form of a conditional share award ("DSP Award") over Shares pursuant to the Company's DSP on 15 July 2024 to the following executive director listed below:-

 

Director

Number Shares under DSP Award

William Berman

400,485

 

The DSP Award will ordinarily become exercisable on the third anniversary of grant subject to the grantee's continued service.

Further detail regarding the DSP Award is set out in the notice of the General Meeting of the Company held on 26 June 2024. 

 

The following notifications are made in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.

1

Details of the person discharging managerial responsibilities/persons closely associated

a)

Name

William Berman

2

Reason for notification

a)

Position/Status

Chief Executive Officer

b)

Initial notification/amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Pinewood Technologies Group PLC

b)

LEI

213800VRSPZFOGMMIS18

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 and identification code

Ordinary Shares of £1.00 each

ISIN: GB00BSB7BS06

b)

Nature of transaction

Grant of a conditional share award over Shares under the Company's Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

1,256,067

d)

Aggregated Information

Not applicable - single transaction

e)

Date of transaction

15 July 2024

f)

Place of transaction

Outside of a trading venue

 

 

1

Details of the person discharging managerial responsibilities/persons closely associated

a)

Name

Oliver Mann 

2

Reason for notification

a)

Position/Status

Chief Financial Officer

b)

Initial notification/amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Pinewood Technologies Group PLC

b)

LEI

213800VRSPZFOGMMIS18

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 and identification code

Ordinary Shares of £1.00 each

ISIN: GB00BSB7BS06

b)

Nature of transaction

Grant of a conditional share award over Shares under the Company's Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

291,262

d)

Aggregated Information

Not applicable - single transaction

e)

Date of transaction

15 July 2024

f)

Place of transaction

Outside of a trading venue

 

1

Details of the person discharging managerial responsibilities/persons closely associated

a)

Name

William Berman

2

Reason for notification

a)

Position/Status

Chief Executive Officer

b)

Initial notification/amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Pinewood Technologies Group PLC

b)

LEI

213800VRSPZFOGMMIS18

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 and identification code

Ordinary Shares of £1.00 each

ISIN: GB00BSB7BS06

b)

Nature of transaction

Grant of a conditional share award over Shares under the Company's Deferred Share Plan

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

400,485

d)

Aggregated Information

Not applicable - single transaction

e)

Date of transaction

15 July 2024

f)

Place of transaction

Outside of a trading venue

 

 

OLIVER MANN

COMPANY SECRETARY

 

16 July 2024

 

Enquiries:                           

Headland                             Henry Wallers                    Tel: 0203 805 4822

                                                Jack Gault           

-ENDS-

 

 

           

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