NORCROS PLC

Director's Dealing • Jul 21, 2021

National Storage Mechanism | Additional information

RNS Number : 0256G

Norcros PLC

21 July 2021

Norcros plc ("Norcros" or "the Company")

Director Dealings - APSP Share Option and Deferred Share awards

Director/PDMR Shareholding

Norcros announces that the Board, following a recommendation from the Remuneration Committee, has granted new share options to the following Directors under the Company's Approved Performance Share Plan (the "APSP") and Deferred Bonus Plan (the "DBP") on 21 July 2021.

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation ("MAR"), provides further detail.

APSP Share Option Awards

The Company has today granted the following unapproved nil cost share option awards under the APSP in respect of the current financial year (the "APSP Awards") to an Executive Director of the Company over ordinary shares of ten pence each in the Company ("Ordinary Shares"). 

Under the APSP, awards are made subject to performance targets relating to improvements in the Company's Earnings Per Share ("EPS").  Vesting of these Ordinary Shares will be subject to achieving aggregate diluted EPS targets over a three year performance period, starting with the 2022 financial year.

The APSP Awards will normally vest on the third anniversary of their grant, subject to satisfactory achievement of the performance targets.  No consideration was paid for the APSP Awards.

Name	Number of Ordinary Shares subject to the APSP Award
Nick Kelsall	134,885

Bonus payment - Deferred Share Awards

Under the annual bonus scheme, 50 per cent. of an Executive Director's total bonus for the year is satisfied in cash, with the other 50 per cent. in the form of nil cost options under the DBP.  These options represent 50 per cent. of the bonuses earned by the Executive Directors for the 2021 financial year.  

Norcros therefore also announces the grant of the following nil cost share option awards under the DBP in respect of the year ended 31 March 2021 (the "Deferred Awards") to the relevant Executive Director of the Company over Ordinary Shares.

Name	Number of Ordinary Shares subject to the Deferred Bonus Plan Award
Nick Kelsall Shaun Smith	65,478 43,977

The Deferred Awards will normally vest on the third anniversary of their grant.  Because these shares represent part of a bonus already earned, no consideration was paid for the Deferred Awards and no consideration is due to be payable on vesting.

MAR Notification

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

Nick Kelsall

2

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Norcros plc

b)

LEI

213800EIMJZZA1GBIE18

4 A

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 10 pence

GB00BYYJL418

b)

Nature of the transaction

Grant of 134,885 options under the Company's Approved Performance Share Plan (the "APSP") and 65,478 options under the Deferred Bonus Plan (the "DBP") on 21 July 2021

c)

Price(s) and volume(s)

Price(s)	Volume(s)
n/a	n/a

d)

Aggregated information

- Aggregated volume

- Price

n/a

n/a

e)

Date of the transaction

21 July 2021

f)

Place of the transaction

Wilmslow, Cheshire, England

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Shaun Smith

2

Reason for the notification

a)

Position/status

Chief Financial Officer

b)

Initial notification /Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Norcros plc

b)

LEI

213800EIMJZZA1GBIE18

4 A

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 10 pence

GB00BYYJL418

b)

Nature of the transaction

Grant of 43,977 options under the Company's Deferred Bonus Plan (the "DBP") on 21 July 2021

c)

Price(s) and volume(s)

Price(s)	Volume(s)
n/a	n/a

d)

Aggregated information

- Aggregated volume

- Price

n/a

n/a

e)

Date of the transaction

21 July 2021

f)

Place of the transaction

Wilmslow, Cheshire, England

Further enquiries:

Norcros plc	Tel: 01625 547 700
Nick Kelsall, Chief Executive Officer Shaun Smith, Chief Financial Officer
Hudson Sandler	Tel: 0207 796 4133
Nick Lyon

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHEALXFAEAFEFA