Director/PDMR Shareholdings
23 January 2025
Carr's (CARR.L), the Agriculture and Engineering Group, announces that the following awards of options ("Options") were made on 21 January 2025 ("Award Date"), pursuant to the Company's Long Term Incentive Plan 2023 (the "LTIP"), to certain PDMRs over ordinary shares in the Company of 2.5p each ("Ordinary Shares"):
| PDMR | Number of Ordinary Shares |
| David White | 254,592 |
The Options were awarded for nil-cost subject to the rules of the LTIP and will be exercisable from the third anniversary of the Award Date to the tenth anniversary of the Award Date.
Vesting of the Options is subject to performance targets based upon the Company's adjusted Earnings Per Share ("EPS") and Total Shareholder Return ("TSR") over a three-year performance period covering the financial years 2024/25, 2025/26 and 2026/27 ("Performance Period") as follows:
Adjusted EPS (75% weighting)
| Threshold | Maximum | |
| Target | 20% average annual growth in adjusted EPS | 35% average annual growth in adjusted EPS |
| Vesting | 25% | 100% |
TSR (25% weighting)
| Threshold | Maximum | |
| Target | 7% compound annual growth in TSR | 16% compound annual growth in TSR |
| Vesting | 25% | 100% |
Vesting is adjusted on a straight-line basis between threshold and maximum targets. Growth in adjusted EPS is calculated from a base adjusted EPS of 2.5p. Growth in TSR is measured by comparing the Company's average TSR over each of the three-month periods ending on: (i) the day before the start of the Performance Period; and (ii) the final day of the Performance Period.
The following information is included in accordance with Article 19(3) of the Market Abuse Regulation (No. 596/2014):
1 | Details of person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | David White | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Chief Executive Officer | ||||||
Initial notification/amendment | Initial Notification | |||||||
3 | Details of the issuer | |||||||
a) | Name | Carr's Group plc | ||||||
b) | Legal Entity Identifier | 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 | Ordinary Shares of £0.025 each | ||||||
b) | Identification code of the Financial Instrument | GB00BRK01058 | ||||||
c) | Nature of the transaction | Grant of award pursuant to the Company's Long Term Incentive Plan 2023 | ||||||
d) | Price(s) and volume(s) |
| ||||||
e) | Aggregated information |
N/A | ||||||
f) | Date of the transaction | 21 January 2025 | ||||||
g) | Place of the transaction | Outside trading venue | ||||||
Enquiries:
| Carr's Group plc Fiona Rodford (Remuneration Committee Chair) Justin Richards (Company Secretary) | 01228 554 600 |