Director/PDMR Shareholding
22 December 2017
Carr's (CARR.L), the agriculture and engineering group, announces the following awards of options over ordinary shares in the Company of 2.5p each ("Ordinary Shares") to certain PDMRs.
Awards under the Company's Long Term Incentive Plan 2013 (the "LTIP")
On 22 December 2017 (the "Award Date"), awards were made under the Company's Long Term Incentive Plan 2013 (the "Options"). The Options are exercisable for nil consideration, subject to the rules of the LTIP and to the satisfaction of the applicable performance targets.
In light of the Company's expected performance during the relevant performance period, the Company's Remuneration Committee has determined to award the Options subject to an inflated initial base Adjusted EPS in order to ensure that performance targets remain stretching. The initial base Adjusted EPS figure has accordingly been increased from 8.90 pence per share to 10.7 pence per share.
No consideration was payable on the grant of the Awards.
The Options will be exercisable (to the extent the performance targets are met) from the third anniversary of the respective Award Dates to the tenth anniversary of the respective Award Dates.
The Options have been awarded to certain PDMRs as follows:
| Name | Number of Ordinary Shares subject to this award |
Total Number of Ordinary Shares awarded under the LTIP |
|
| Tim Davies | 222,818 | 752,151 | |
| Neil Austin | 163,095 | 554,805 | |
| Ellen Smith | 35,131 | 111,351 | |
| Matthew Ratcliffe | 32,258 | 32,258 | |
The following information is included in accordance with Article 19(3) of the Market Abuse Regulation (No. 596/2014):
|
||||
| a) Name | 1. Tim Davies 2. Neil Austin 3. Ellen Smith 4. Matthew Ratcliffe |
|||
|
||||
| a) Position/status | 1. Chief Executive Officer 2. Group Finance Director 3. Group Financial Controller 4. Company Secretary |
|||
| b) Initial notification/Amendment | Initial Notification | |||
| 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a) Name | Carr's Group plc | |||
| b) LEI | 213800HTIKPQV98RA653 | |||
| 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 | Ordinary Shares of £0.025 each | |||
| b) Identification Code | GB00BRK01058 | |||
| c) Nature of transactions | Grant of Award | |||
| d) Price(s) and Volume(s) | Price(s) 1. £0.025 Ordinary Shares 2. £0.025 Ordinary Shares 3. £0.025 Ordinary Shares 4. £0.025 Ordinary Shares |
Volume(s) 222,818 163,095 35,131 32,258 |
||
| e) Aggregated information: i. Aggregated volume ii. price |
N/A | |||
| f)Date of the transaction | Outside trading venue | |||
| g)Place of the transaction | Outside trading venue | |||
Enquiries:
| Carr's Group plc | 01228 554 600 |
| Matthew Ratcliffe (Company Secretary) | |
| Powerscourt | 020 7250 1446 |
| Nick Dibden | [email protected] |
| Lisa Kavanagh |