Convatec Group PLC — Director's Dealing 2018

Mar 8, 2018

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RNS Number : 1760H

ConvaTec Group PLC

08 March 2018

8 March 2018

ConvaTec Group Plc

("ConvaTec" or "the Company")

Director/PDMR Shareholding

The Company announces the following changes in the interests of Directors in ordinary shares of 10 pence each in the share capital of the Company ("Shares").

On 7 March 2018, Paul Moraviec, the Company's Chief Executive Officer, and Frank Schulkes, the Company's Chief Financial Officer, both Executive Directors, were granted conditional share awards under the Company's Long Term Incentive Plan (LTIP), subject to a time vesting period of three years, performance conditions based on a combination of relative total shareholder return, earnings per share and return on invested capital over the three year period equally weighted and, continued employment, as follows;

Paul Moraviec: 585,436

Frank Schulkes: 365,291

The number of Shares are the maximum available if the performance conditions for the three year performance period are fully satisfied. Further details of the LTIP and performance conditions will be contained in the Company's next Annual Report.

Further, both Executive Directors received an additional grant of shares in accordance with the Company's remuneration policy approved by shareholders, as a result of one third of their annual bonus being paid out as deferred shares as follows, such shares to vest on the third anniversary of grant;

Paul Moraviec: 17,172

Frank Schulkes: 7,210

The closing share price on 6 March of £2.06 was used in determining the number of shares to be granted under the deferred bonus provisions.

No consideration was paid for the grant of either of these awards.

The attached notification, made in accordance with the requirements of the EU Market Abuse Regulation, gives further detail.

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	Paul Moraviec
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	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
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 10p each in ConvaTec Group Plc GB00BD3VFW73
b)	Nature of the transaction	1.   Grant of conditional share award under the ConvaTec Group Plc Long Term Incentive Plan subject to Long Term Incentive Plan, subject to (i) time vesting period of three years (ii) performance conditions based on a combination of relative total shareholder return, earnings per share and return on invested capital over three year period, equally weighted (iii) continued employment 2.   Grant of restricted share award under Bonus Deferral subject only to a time based vesting condition
c)	Price(s) and volume(s)	Price(s) 1 - N/A 2 - N/A	Volume(s) 1 - 585,436 2 - 17,172
d)	Aggregated information - Aggregated volume  - Price	N/A
e)	Date of the transaction	7 March 2018
f)	Place of the transaction	London Stock Exchange, Main Market (XLON)
1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Frank Schulkes
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	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
a)	Description of the financial instrument, type of instrument Identification code	Ordinary shares of 10p each in ConvaTec Group Plc GB00BD3VFW73
b)	Nature of the transaction	1.   Grant of conditional share award under the ConvaTec Group Plc Long Term Incentive Plan subject to Long Term Incentive Plan, subject to (i) time vesting period of three years (ii) performance conditions based on a combination of relative total shareholder return, earnings per share and return on invested capital over three year period, equally weighted (iii) continued employment 2.   Grant of restricted share award under Bonus Deferral subject only to a time based vesting condition
c)	Price(s) and volume(s)	Price(s) 1 - N/A 2 - N/A	Volume(s) 1 - 365,291 2 - 7,210
d)	Aggregated information - Aggregated volume  - Price	N/A
e)	Date of the transaction	7 March 2018
f)	Place of the transaction	London Stock Exchange, Main Market (XLON)

Enquiries

Media

Bobby Leach, VP Group Corporate Affairs, ConvaTec                        +44 (0)7770 842 226

Alastair Elwen, Finsbury                                                                       +44 (0)207 251 3801

Analysts and Investors

John Crosse, VP Investor Relations, ConvaTec                         +44 (0)7500 141 435

Kirsty Law, Director Investor Relations, ConvaTec                               +44 (0)7470 909 582

investorrelations@convatec.com

ConvaTec Group Plc's LEI code is 213800LS272L4FIDOH92

About ConvaTec

ConvaTec is a global medical products and technologies company focused on therapies for the management of chronic conditions, with leading market positions in advanced wound care, ostomy care, continence and critical care, and infusion devices. ConvaTec's products provide a range of clinical and economic benefits including infection prevention, protection of at-risk skin, improved patient outcomes and reduced total cost of care. To learn more about ConvaTec, please visit www.convatecgroup.com where a copy of this announcement can also be found.

This information is provided by RNS

The company news service from the London Stock Exchange

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