Genuit Group PLC

Remuneration Information • Nov 25, 2019

National Storage Mechanism | Additional information

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RNS Number : 5849U

Polypipe Group PLC

25 November 2019

Polypipe Group plc (the "Company')

Notification of Transaction by Persons Discharging Managerial Responsibilities

The Company hereby notifies the following changes in the interests of Martin Gisbourne, a person discharging managerial responsibility ("PDMR") in Ordinary Shares of £0.001 each in the Company ("Shares") on 22 November 2019.

Grant of Long Term Incentive Plan award

The Company confirms that on 22 November 2019, in accordance with its shareholder approved Remuneration Policy, it granted an award (structured as a nil cost option) to Martin Gisbourne under the Polypipe Group plc 2014 Long Term Incentive Plan (the "LTIP"). The award, which has been granted in respect of the financial year beginning on 1 January 2019, is over the following maximum number of Shares in the Company:

Name/Position	Category	Maximum number of Shares
M Gisbourne/ Group Marketing & Strategy Director	PDMR	23,531

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 22 November 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 Gisbourne

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	23,531

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

22 November 2019

f)

Place of the transaction

Outside a Trading Venue

Contacts: Emma Versluys, Legal Counsel & Company Secretary	+44 (0) 1709 770 000

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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