DJ Renewi plc: Director/PDMR Shareholding
Renewi plc (RWI) Renewi plc: Director/PDMR Shareholding 20-Jun-2023 / 10:00 GMT/BST
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NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
Renewi plc (the "Company") announces the following transactions of Persons Discharging Managerial Responsibility ("PDMR") in ordinary shares of GBP1 each in the share capital of the Company ("Shares").
Grant of Awards under the Long-Term Incentive Plan ("LTIP") and Deferred Annual Bonus Scheme ("DAB")
2023 LTIP
On 19 June 2023, conditional awards were granted to the two Executive Directors of the Company under the Renewi plc 2020 Long-Term Incentive Plan, which will vest on the third anniversary of grant in accordance with their performance conditions:
Plan Participant Award Vesting date 2023 LTIP Otto de Bont (CEO) 136,590 19 June 2026 2023 LTIP Annemieke den Otter (CFO) 92,814 19 June 2026
The three-year performance measures and targets relating to 2023 LTIP awards are as disclosed below. The targets will be measured over the three years ending 31 March 2026.
TSR1 ROCE EPS Recycling rate2
Weighting 25% 25% 25% 25%
Target Vesting Target Vesting Target Vesting Target Vesting
Threshold Median 25% +0.5% 25% +5.0% 25% 67% 25%
Max Upper quartile 100% +2.0% 100% +15% 100% 70% 100%
Notes: 1. The peer group for the TSR performance target is the FTSE 250 (excluding Investment Trusts). TSR will becalculated using a three-month averaging period at the start and end of the performance period. 2. The recycling rate target has been based on the 2023 recycling rate methodology, as described on pages 51and 52 of the 2023 Renewi plc Annual Report and Accounts. 3. Vesting for all targets is calculated on a straight line basis.
A two-year post vest holding period applies to the LTIP awards granted to Executive Directors.
2023 DAB
On 19 June 2023, conditional awards were granted to the two Executive Directors of the Company under the Renewi plc 2014 Deferred Annual Bonus Scheme. 50% of the 2023 DAB awards vested immediately, with a further 50% to vest on the third anniversary of grant:
Plan Participant Award Vesting date
50% on 19 June 2023
2023 DAB Otto de Bont (CEO) 48,483
50% on 19 June 2026
50% on 19 June 2023
2023 DAB Annemieke den Otter (CFO) 36,604
50% on 19 June 2026
Both Executive Directors elected to retain all of their Shares from the immediate DAB vest on 19 June 2023, satisfying their associated withholding tax and social security liabilities through direct payments to the Company.
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 Otto de Bont
2 Reason for the notification
a) Position/status
CEO
b) Initial notification /Amendment
Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name
Renewi plc
b) LEI
213800CNEIDZBL17KU22
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
Description of the financial instrument, type of
instrument
a) Ordinary shares of GBP1 each
Identification code
GB00BNR4T868
Nature of the transaction
b) Grant of 2023 award under the Renewi plc Long Term
Incentive Plan
Shares Shares
Price(s) and volume(s)
c) Price(s) Volume(s)
GBPNIL 136,590
Aggregated information
d) 136,590
- Aggregated volume
GBPNIL
- Price
e) Date of the transaction
19 June 2023
f) Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name
Annemieke den Otter
2 Reason for the notification
a) Position/status
CFO
b) Initial notification /Amendment
Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name
Renewi plc
b) LEI
213800CNEIDZBL17KU22
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
Description of the financial instrument, type of
instrument
a) Ordinary shares of GBP1 each
Identification code
GB00BNR4T868
Nature of the transaction
b) Grant of 2023 award under the Renewi plc Long Term
Incentive Plan
Shares Shares
Price(s) and volume(s)
c) Price(s) Volume(s)
GBPNIL 92,814
Aggregated information
d) 92,814
- Aggregated volume
GBPNIL
- Price
e) Date of the transaction
19 June 2023
f) Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name
Otto de Bont
2 Reason for the notification
a) Position/status
CEO
b) Initial notification /
Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name
Renewi plc
b) LEI
213800CNEIDZBL17KU22
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
Description of the
financial instrument, type
of instrument
a) Ordinary shares of GBP1 each
Identification code
GB00BNR4T868
Nature of the transaction
b) Grant of 2023 award of 48,483 shares under the Deferred Annual Bonus Scheme ,
50% of which vested immediately (24,242 shares), 50% of which will vest on 19
June 2026 (24,241 shares)
Shares Shares
Price(s) and volume(s)
c) Price(s) Volume(s)
GBPNIL 48,483
Aggregated information
d)
- Aggregated volume 48,483
GBPNIL
- Price
e) Date of the transaction
19 June 2023
f) Place of the transaction
Outside a trading venue
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name
Annemieke den Otter
2 Reason for the notification
a) Position/status
CFO
b) Initial notification /
Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction
monitor
a) Name
Renewi plc
b) LEI
213800CNEIDZBL17KU22
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
Description of the financial
instrument, type of instrument
a) Ordinary shares of GBP1 each
Identification code
GB00BNR4T868
Nature of the transaction
b) Grant of 2023 award of 36,604 shares under the Deferred Annual Bonus
Scheme, 50% of which vested immediately, 50% of which will vest on 19 June
2026
Shares Shares
Price(s) and volume(s)
c) Price(s) Volume(s)
GBPNIL 36,604
Aggregated information
d) 36,604
- Aggregated volume
GBPNIL
- Price
e) Date of the transaction
19 June 2023
f) Place of the transaction
Outside a trading venue
About Renewi
Renewi is a pure-play recycling company with a focus on extracting value from waste and used materials rather than disposal through incineration or landfill. The company also plays a key role in limiting resource scarcity through the creation of secondary materials, and by so doing addresses both social and regulatory trends and contributes to creating a cleaner, greener world.
Renewi's vision is to be the leading waste-to-product company in the world's most advanced circular economies. With an industry leading recycling rate of 63.6%, Renewi puts 7m tonnes of low carbon secondary materials back into reuse. This is a significant contribution to climate change mitigation and the circular economy. Our recycling protects virgin resources and avoids emissions of 2.5 million tonnes of CO2.
Renewi, which draws on innovation and the latest technology to turn waste into useful materials - paper, metals, plastics, glass, wood, building materials, compost and water - employs over 6,500 people who work on 154 operating sites in 5 countries across Europe and the UK. Renewi is recognised as a market leader in Benelux and a European leader in advanced recycling.
Visit our website for more information: www.renewi.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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ISIN: GB00BNR4T868 Category Code: DSH TIDM: RWI LEI Code: 213800CNEIDZBL17KU22 OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 251956 EQS News ID: 1660751 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
June 20, 2023 05:00 ET (09:00 GMT)
