Genuit Group PLC

Director's Dealing • Apr 14, 2025

National Storage Mechanism | Additional information

RNS Number : 9591E

Genuit Group PLC

14 April 2025

Genuit Group plc (the "Company')

Notification of Transactions by Persons Discharging Managerial Responsibilities

The Company confirms that on 11 April 2025, in accordance with its shareholder approved Remuneration Policy, it granted to each of the following Directors/ Persons Discharging Managerial Responsibility ("PDMRs") an award (structured as a nil-cost option) under the Genuit Group plc 2024 Long Term Incentive Plan (the "LTIP"). In addition, the Company made an award, subject to the same performance conditions as set out below, under the LTIP, to 26 members of the senior management team. The awards, which have been granted in respect of the financial year beginning on 1 January 2025, are over the following maximum number of Ordinary Shares of £0.001 each in the Company ("Shares") :

Name/Position

Category

Maximum number of Shares*

Joe Vorih /Chief Executive Officer

Director

371,921

Tim Pullen/Chief Financial Officer

Director

238,576

Edel Conway/Chief People Officer

PDMR

70,161

Martin Gisbourne/Chief Strategy and Sustainability Officer

PDMR

72,566

Emma Versluys/Group Legal Counsel & Company Secretary

PDMR

54,919

Lee Mellor/Climate Management Solutions Managing Director

PDMR

75,001

Steve Currier/Water Management Solutions (interim) & Sustainable Building Solutions Managing Director

PDMR

65,322

*The number of shares is the maximum number of shares that are eligible to vest after the application of the Total Shareholder Return ("TSR") Modifier which is applied to the outcome of the Cash Conversion Tranche, the Earnings Per Share Tranche and the Sustainability Tranche, as detailed below. 

The vesting of each award is subject to the satisfaction of the following performance conditions:

1.   Cash Conversion Tranche: 25% of the award is based on the average cash conversion over the three financial years of the performance period, with 25% of the cash conversion element vesting for achieving an underlying cash conversion of 90% and 100% vesting for achieving an underlying cash conversion of 95% or above;

2.   Earnings Per Share ("EPS") Tranche: 50% of the award is based on the Company's annual compound EPS growth over the performance period with 25% of the EPS growth element vesting for achieving EPS growth of 4.8% per annum and 100% vesting for achieving EPS growth of 10.7% per annum or above;

3.   Sustainability Tranche: 25% of the award is based on a sustainability target set to align with the Company's sustainability strategy and its science-based targets. Consistent with the Company's science-based target covering scope 3: category 1 emissions, it will target an intensity output improvement over the performance period with 25% of the element vesting for achieving an intensity output for the year ending 31 December 2027 of 1.712tCO2e/t, and 100% vesting for achieving an intensity output for the year ending 31 December 2027 of 1.517TCO2e/t or below; and

4.   A TSR Modifier will be applied to the outcome of the Cash Conversion Tranche, the EPS Tranche and the Sustainability Tranche which has the ability to increase vesting by a further 33% or reduce vesting by 33%. TSR will be measured against FTSE 250 Industrials and the modifier will be applied as follows:

a.   If TSR is at or below lower quartile, vesting is reduced by 33%, multiplying the vesting result by a factor of 0.67;

b.   If TSR is at median, vesting remains unchanged; and

c.   If TSR is at or above upper quartile, vesting is increased by 33%, multiplying the vesting result by a factor of 1.33.

With regard to the performance conditions, where performance falls between the threshold and maximum performance levels, the vesting outcome is adjusted on a graduated basis. 

The performance period is the three-year period commencing on 1 January 2025, using measures and baselines as described above. The Committee also retains discretion to reduce vesting if it considers that the level of vesting is not consistent with the Company's overall performance over the performance period.

Subject to the satisfaction of the performance conditions, the awards will normally vest on 11 April 2028 and remain exercisable until the tenth anniversary of the grant date.

The notifications below, which have been made in accordance with the requirements of the UK Market Abuse Regulation, provide further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated. 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Joe Vorih

2

Reason for the notification

a)

Position/status

Chief Executive Officer/Director 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

Genuit Group plc

b)

LEI

2138005IF1N2RKJ6KO18

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 £0.001 each in the capital of Genuit Group plc

GB00BKRC5K31

b)

Nature of the transaction

G rant of an award, structured as a nil cost option, under the Company's 2024 Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	371,921

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

11 April 2025

f)

Place of the transaction

Outside a Trading Venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Tim Pullen

2

Reason for the notification

a)

Position/status

Chief Financial Officer/Director 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

Genuit Group plc

b)

LEI

2138005IF1N2RKJ6KO18

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 £0.001 each in the capital of Genuit Group plc

GB00BKRC5K31

b)

Nature of the transaction

G rant of an award, structured as a nil cost option, under the Company's 2024 Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	238,576

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

11 April 2025

f)

Place of the transaction

Outside a Trading Venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Edel Conway

2

Reason for the notification

a)

Position/status

Chief People Officer/PDMR

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Genuit Group plc

b)

LEI

2138005IF1N2RKJ6KO18

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 £0.001 each in the capital of Genuit Group plc

GB00BKRC5K31

b)

Nature of the transaction

G rant of an award, structured as a nil cost option, under the Company's 2024 Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	70,161

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

11 April 2025

f)

Place of the transaction

Outside a Trading Venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Martin Gisbourne

2

Reason for the notification

a)

Position/status

Chief Strategy and Sustainability Officer/PDMR

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Genuit Group plc

b)

LEI

2138005IF1N2RKJ6KO18

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 £0.001 each in the capital of Genuit Group plc

GB00BKRC5K31

b)

Nature of the transaction

G rant of an award, structured as a nil cost option, under the Company's 2024 Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	72,566

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

11 April 2025

f)

Place of the transaction

Outside a Trading Venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Emma Versluys

2

Reason for the notification

a)

Position/status

Group Legal Counsel & Company Secretary/PDMR

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Genuit Group plc

b)

LEI

2138005IF1N2RKJ6KO18

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 £0.001 each in the capital of Genuit Group plc

GB00BKRC5K31

b)

Nature of the transaction

G rant of an award, structured as a nil cost option, under the Company's 2024 Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	54,919

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

11 April 2025

f)

Place of the transaction

Outside a Trading Venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Lee Mellor

2

Reason for the notification

a)

Position/status

Climate Management Solutions Business Unit Managing Director/PDMR

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Genuit Group plc

b)

LEI

2138005IF1N2RKJ6KO18

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 £0.001 each in the capital of Genuit Group plc

GB00BKRC5K31

b)

Nature of the transaction

G rant of an award, structured as a nil cost option, under the Company's 2024 Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	75,001

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

11 April 2025

f)

Place of the transaction

Outside a Trading Venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Steve Currier

2

Reason for the notification

a)

Position/status

Water Management Solutions (interim) & Sustainable Building Solutions Business Unit Managing Director/PDMR

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Genuit Group plc

b)

LEI

2138005IF1N2RKJ6KO18

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 £0.001 each in the capital of Genuit Group plc

GB00BKRC5K31

b)

Nature of the transaction

G rant of an award, structured as a nil cost option, under the Company's 2024 Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	65,322

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

11 April 2025

f)

Place of the transaction

Outside a Trading Venue

Contacts:

Emma Versluys

Group Legal Counsel and Company Secretary                     +44 (0) 1138 315 315

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