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RENEWI PLC
Director's Dealing • Jun 6, 2024
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Director's Dealing
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National Storage Mechanism | Additional information
Renewi plc (RWI)
Renewi plc: Director/PDMR Shareholding
06-Jun-2024 / 15:00 GMT/BST
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 £1 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”)
2024 LTIP
On 5 June 2024, 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 |
| 2024 LTIP | Otto de Bont (CEO) | 109,831 | 5 June 2027 |
| 2024 LTIP | Annemieke den Otter (CFO) | 74,630 | 5 June 2027 |
The three-year performance measures and targets relating to 2024 LTIP awards are as disclosed below. The targets will be measured over the three years ending 31 March 2027.
| TSR1 | ROCE | EPS | Weight adjusted recycling rate2 | |||||
| Weighting | 25% | 25% | 25% | 25% | ||||
| Target | Vesting | Target | Vesting | Target | Vesting | Target | Vesting | |
| Threshold | Median | 25% | +0.5% | 25% | +5.0% | 25% | TBC | 25% |
| Max | Upper quartile | 100% | +2.0% | 100% | +15% | 100% | TBC | 100% |
Notes:
- The peer group for the TSR performance target is the FTSE 250 (excluding Investment Trusts). TSR will be calculated using a three-month averaging period at the start and end of the performance period.
- The weight adjusted recycling rate targets will be detailed in the FY25 Annual Report and Accounts.
- 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.
2024 DAB
On 5 June 2024, conditional awards were granted to the two Executive Directors of the Company under the Renewi plc 2024 Deferred Annual Bonus Scheme. 50% of the 2024 DAB awards vested immediately, with a further 50% to vest on the third anniversary of grant:
| Plan | Participant | Award | Vesting date |
| 2024 DAB | Otto de Bont (CEO) | 29,288 | 50% on 5 June 2024 50% on 5 June 2027 |
| 2024 DAB | Annemieke den Otter (CFO) | 24,876 | 50% on 5 June 2024 50% on 5 June 2027 |
Both Executive Directors elected to retain all of their Shares from the immediate DAB vest on 5 June 2024, satisfying their associated withholding tax and social security liabilities through direct payments to the Company.
Share Purchase
Over the two trading days 5 to 6 June 2024, Annemieke den Otter purchased a total of 19,500 Shares on Euronext Amsterdam at an aggregated price of € 150,835.60.
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
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of £1 each
GB00BNR4T868
b)
Nature of the transaction
Grant of 2024 award under the Renewi plc Long Term Incentive Plan
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| £NIL | 109,831 |
d)
Aggregated information
- Aggregated volume
- Price
109,831
£NIL
e)
Date of the transaction
5 June 2024
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
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of £1 each
GB00BNR4T868
b)
Nature of the transaction
Grant of 2024 award under the Renewi plc Long Term Incentive Plan
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| £NIL | 74,630 |
d)
Aggregated information
- Aggregated volume
- Price
74,630
£NIL
e)
Date of the transaction
5 June 2024
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
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of £1 each
GB00BNR4T868
b)
Nature of the transaction
Grant of 2024 award of 29,288 shares under the Deferred Annual Bonus Scheme, 50% of which vested immediately, 50% of which will vest on 5 June 2027
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| £NIL | 29,288 |
d)
Aggregated information
- Aggregated volume
- Price
29,288
£NIL
e)
Date of the transaction
5 June 2024
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
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of £1 each
GB00BNR4T868
b)
Nature of the transaction
Grant of 2024 award of 24,876 shares under the Deferred Annual Bonus Scheme, 50% of which vested immediately, 50% of which will vest on 5 June 2027
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| £NIL | 24,876 |
d)
Aggregated information
- Aggregated volume
- Price
24,876
£NIL
e)
Date of the transaction
5 June 2024
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
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of £1 each
GB00BNR4T868
b)
Nature of the transaction
Purchase of 16,072 shares
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| €7.70 | 16,072 |
d)
Aggregated information
- Aggregated volume
- Price
16,072
€ 123,754.40
e)
Date of the transaction
5 June 2024
f)
Place of the transaction
Euronext Amsterdam
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
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary shares of £1 each
GB00BNR4T868
b)
Nature of the transaction
Purchase of 3,428 shares
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| €7.90 | 3,428 |
d)
Aggregated information
- Aggregated volume
- Price
3,428
€27,081.20
e)
Date of the transaction
6 June 2024
f)
Place of the transaction
Euronext Amsterdam
About Renewi
Renewi is a pure-play recycling company that focuses on extracting value from waste and used materials rather than disposing of them through incineration or landfill. The company plays an important role in combating resource scarcity by creating circular materials. In giving new life to used materials, Renewi addresses both social and regulatory trends, contributing to a cleaner and greener world.
Our vision is to be the leading waste-to-product company in the world's most advanced circular economies. With a recycling rate of 63.2%, one of the highest in Europe, Renewi puts 6.6 million tonnes of low-carbon circular materials back into use each year. This contributes to mitigating climate change and promotes the circular economy. Our recycling efforts help to protect natural resources and prevent more than 2.5 million tonnes of CO2 emissions annually.
Renewi leverages innovation and the latest technology to turn waste into circular materials such as paper, metals, plastics, glass, wood, building materials, compost, and water. We employ over 6,000 people across 154 operational sites in five countries in Europe. Renewi is recognised as a leading waste-to-product company in the Benelux region 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.
| 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.: | 326398 |
| EQS News ID: | 1919959 |
| End of Announcement | EQS News Service |