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Convatec Group PLC (CTEC)
Convatec Group PLC: Director/ PDMR Shareholding
12-March-2024 / 16:00 GMT/BST
12 March 2024
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”).
-
Grant of Awards under the
Company’s Long Term Incentive Plan (“LTIP”)
On the 11 March 2024, awards were granted to Karim Bitar,
Chief Executive Officer and Jonny Mason, Chief Financial Officer
under the 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: adjusted PBT
growth, organic revenue growth, and TSR over the three financial
years to 31 December 2026; and subject to a two-year post vesting
holding period. Further details of the LTIP and performance
conditions will be available in the Company’s 2023 Annual
Report.
Karim Bitar: 1,025,891
Jonny Mason: 464,221
The three-day average share price, closing on 8 March 2024 of £2.76
was used in determining the awards.
-
Grant of Awards under the
Company’s Deferred Bonus Plan (“DBP”)
On the same date, awards were also granted to Karim Bitar and
Jonny Mason, under the 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: 226,266
Jonny Mason: 122,863
The three-day average share price, closing on 8 March 2024 of
£2.76 was used in determining the awards.
-
Vesting of Awards under the
Company’s LTIP
Also on 11 March 2024, share awards granted to Karim Bitar in
2021 under the LTIP vested:
|
Shares vested
|
Shares sold to satisfy income tax
& NI liabilities
|
Share price
|
Total shares acquired
|
|
592,209
|
279,106
|
2.805
|
313,103
|
-
Vesting of Awards under the
Company’s DBP
On the same day, awards granted to Karim Bitar in 2021 under
the DBP, vested:
|
Shares vested
|
Shares sold to satisfy income tax
& NI liabilities
|
Share Price
|
Total Shares acquired
|
|
301,460
|
142,077
|
2.805
|
159,383
|
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.
-
Grant of PSUs under the LTIP subject to performance
conditions.
|
|
c)
|
Price(s) and volume(s)
|
Price(s)
-
n/a
-
n/a
|
Volume(s)
-
226,266
-
1,025,891
|
|
d)
|
Aggregated information
- Aggregated
volume
- Price
|
1,252,157
N/A
|
|
e)
|
Date of the transaction
|
2024-03-11
|
|
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 performance
conditions.
|
|
c)
|
Price(s) and volume(s)
|
Price(s)
-
n/a
-
n/a
|
Volume(s)
-
122,863
-
464,221
|
|
d)
|
Aggregated information
- Aggregated
volume
- Price
|
587,084
N/A
|
|
e)
|
Date of the transaction
|
2024-03-11
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
|
|
|
|
|
|
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
|
-
Vesting of Share award under the DBP.
-
Vesting of Share award under the LTIP.
|
|
c)
|
Price(s) and volume(s)
|
Price(s)
-
n/a
-
n/a
|
Volume(s)
-
301,460
-
592,209
|
|
d)
|
Aggregated information
- Aggregated
volume
- Price
|
893,669
N/A
|
|
e)
|
Date of the transaction
|
2024-03-11
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
|
|
|
|
|
|
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
|
-
Immediate sale of shares awarded under the DBP to cover tax
and national insurance liabilities.
-
Immediate sale of shares awarded under the LTIP to cover tax
and national insurance liabilities.
|
|
c)
|
Price(s) and volume(s)
|
Price(s)
-
2.805
-
2.805
|
Volume(s)
-
142,077
-
279,106
|
|
d)
|
Aggregated information
- Aggregated
volume
- Price
|
421,183
2.805
|
|
e)
|
Date of the transaction
|
2024-03-11
|
|
f)
|
Place of the transaction
|
London Stock Exchange
|
|
|
|
|
|
|
Enquiries
Ria Banerjee, Group Deputy Company
Secretary
+44(0)7425655845
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 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 2023 were over
$2 billion. The company is a constituent of the FTSE 100 Index
(LSE: CTEC). To learn more about Convatec, please visit
www.convatecgroup.com
Dissemination of a Regulatory Announcement, transmitted by EQS
Group.
The issuer is solely responsible for the content of this
announcement.
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