Genuit Group PLC

Remuneration Information • Apr 30, 2019

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RNS Number : 6107X

Polypipe Group PLC

30 April 2019

Polypipe Group plc (the "Company')

Notification of Transactions by Persons Discharging Managerial Responsibilities

The Company hereby notifies the following changes in the interests of directors and persons discharging managerial responsibility ("PDMRs") in Ordinary Shares of £0.001 each in the Company ("Shares") on 30 April 2019.

Grant of Long Term Incentive Plan awards

The Company confirms that on 30 April 2019, in accordance with its shareholder approved Remuneration Policy, it granted to each of the following Directors/PDMRs an award (structured as a nil cost option) under the Polypipe Group plc 2014 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 20 members of the Senior Management Team. The awards, which have been granted in respect of the financial year beginning on 1 January 2019, are over the following maximum number of Shares in the Company:

Name/Position

Category

Maximum number of Shares

M K Payne /Chief Executive Officer

Director

134,421

P A James/Chief Financial Officer

Director

68,590

G B Sabin/Chief Operating Officer

Director

67,507

M V Fenson/Business Development Director

PDMR

19,500

E G Versluys/Legal Counsel & Company Secretary

PDMR

16,435

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

1.   25% of the maximum potential award is based on a Total Shareholder Return (the "TSR element") performance condition with a threshold of 25% of the TSR element reached on achieving median and 100% for achieving upper quartile performance relative to the Total Shareholder Return of the companies in a comparator group (consisting of companies in the FTSE 250 Index that are classified as Industrials by the Industry Classification Benchmark) and;

2.   75% of the maximum potential award is based on an Earnings per Share performance condition (the "EPS element") measured on a cumulative underlying diluted basis with cumulative targets equivalent to growth of 4% p.a. required to reach the minimum threshold of 25% and 10% p.a. growth to reach the maximum of 100% against 2018 performance.

The TSR and EPS elements are both measured over the three-year period commencing on 1 January 2019.

Subject to the satisfaction of the performance conditions the awards will normally vest on 30 April 2022 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 EU 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

Martin Payne

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

Polypipe 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 Polypipe Group plc

GB00BKRC5K31

b)

Nature of the transaction

Grant of an award, structured as a nil cost option, under the Company's 2014 Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	134,421

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

30 April 2019

f)

Place of the transaction

Outside a Trading Venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Paul James

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

Polypipe 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 Polypipe Group plc

GB00BKRC5K31

b)

Nature of the transaction

Grant of an award, structured as a nil cost option, under the Company's 2014 Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	68,590

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

30 April 2019

f)

Place of the transaction

Outside a Trading Venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Glen Sabin

2

Reason for the notification

a)

Position/status

Chief Operating 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

Polypipe 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 Polypipe Group plc

GB00BKRC5K31

b)

Nature of the transaction

Grant of an award, structured as a nil cost option, under the Company's 2014 Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	67,507

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

30 April 2019

f)

Place of the transaction

Outside a Trading Venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Vince Fenson

2

Reason for the notification

a)

Position/status

PDMR

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Polypipe 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 Polypipe Group plc

GB00BKRC5K31

b)

Nature of the transaction

Grant of an award, structured as a nil cost option, under the Company's 2014 Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	19,500

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

30 April 2019

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

PDMR

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Polypipe 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 Polypipe Group plc

GB00BKRC5K31

b)

Nature of the transaction

Grant of an award, structured as a nil cost option, under the Company's 2014 Long Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	16,435

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

30 April 2019

f)

Place of the transaction

Outside a Trading Venue

Contacts:

Emma Versluys, Legal Counsel & Company Secretary      

+44 (0) 1709 770 000

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