CARR'S GROUP PLC — Director's Dealing 2023

May 5, 2023

National Storage Mechanism | Additional information

RNS Number : 6240Y

Carr's Group PLC

05 May 2023

 

Carr's Group plc

("Carr's", the "Company", or the "Group")

Director/PDMR Shareholdings

Carr's (CARR.L), the Speciality Agriculture and Engineering Group, announces that the following awards of options ("Options") were made on 4 May 2023 ("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
Peter Page	438,347
David White	182,573

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 2022/23, 2023/24 and 2024/25 ("Performance Period") as follows:

Adjusted EPS (75% weighting)

	Threshold	Maximum
Target	5% average annual growth in adjusted EPS	14% 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 10.0p.  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 the person discharging managerial responsibilities/person closely associated

a) Name

1. Peter Page

2. David White

2	. Reason for the notification

a) Position/status

1. Chief Executive Officer

2. 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

Carr's Group plc

b) LEI

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, type of instrument

Ordinary Shares of £0.025 each

b) Identification Code

GB00BRK01058

c) Nature of transactions

Grant of award pursuant to the Company's Long Term Incentive Plan 2023

d) Price(s) and Volume(s)

Price(s)

1. Nil-Cost

2. Nil-Cost

Volume(s)

438,347

182,573

e) Aggregated information:

i. Aggregated volume

ii. price

N/A

f)    Date of the transaction

4 May 2023

g)   Place of the transaction

Outside trading venue

Enquiries:

Carr's Group plc Ian Wood (Remuneration Committee Chair) Matthew Ratcliffe (Company Secretary)	01228 554 600

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