DJ Convatec Group PLC: Director/ PDMR Shareholding
Convatec Group PLC (CTEC)
Convatec Group PLC: Director/ PDMR Shareholding
12-March-2024 / 16:00 GMT/BST
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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").
1. 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 GBP2.76 was used in determining the awards.
2. 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 GBP2.76 was used in determining the awards.
3. 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 4. 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
Description of the financial instrument, type of Ordinary share of 10p each in Convatec Group Plc
instrument
a)
Identification code
GB00BD3VFW73
1. Grant of RSUs under the DBP, subject to
a time-based vesting period of three years.
b) Nature of the transaction
2. Grant of PSUs under the LTIP subject to
performance conditions.
Volume(s)
Price(s) 1.
c) Price(s) and volume(s) 226,266
1. n/a
2. n/a 2.
1,025,891
Aggregated information
d) - Aggregated volume 1,252,157
- Price 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
Description of the financial instrument, type Ordinary share of 10p each in Convatec Group Plc
of instrument
a)
Identification code
GB00BD3VFW73
1. Grant of RSUs under the DBP, subject to a
time-based vesting period of three years and continued
employment.
b) Nature of the transaction
2. Grant of PSUs under the LTIP subject to
performance conditions.
Volume(s)
Price(s) 1.
c) Price(s) and volume(s) 122,863
1. n/a
2. n/a 2.
464,221
Aggregated information
d) - Aggregated volume 587,084
- Price 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
Ordinary share of 10p each in Convatec Group
Description of the financial instrument, type of instrument Plc
a)
Identification code
GB00BD3VFW73
1. Vesting of Share award under
the DBP.
b) Nature of the transaction
2. Vesting of Share award under
the LTIP.
Volume(s)
Price(s)
1.
1. n/a 301,460
c) Price(s) and volume(s) 2. n/a
2.
592,209
Aggregated information
d) - Aggregated volume 893,669
- Price 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
Description of the financial instrument, type Ordinary share of 10p each in Convatec Group Plc
of instrument
a)
Identification code
GB00BD3VFW73
1. Immediate sale of shares awarded under the
DBP to cover tax and national insurance liabilities.
b) Nature of the transaction
2. Immediate sale of shares awarded under the
LTIP to cover tax and national insurance liabilities.
Volume(s)
Price(s) 1.
c) Price(s) and volume(s) 142,077
1. 2.805
2. 2.805 2.
279,106
Aggregated information
d) - Aggregated volume 421,183
- Price 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 USD2 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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ISIN: GB00BD3VFW73 Category Code: DSH TIDM: CTEC LEI Code: 213800LS272L4FIDOH92 Sequence No.: 309248 EQS News ID: 1857091 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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