Genuit Group PLC

Remuneration Information • Apr 27, 2022

National Storage Mechanism | Additional information

RNS Number : 5694J

Genuit Group PLC

27 April 2022

Genuit 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 22 April 2022.

Grant of Long-Term Incentive Plan awards

The Company confirms that on 22 April 2022, 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 Genuit 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 37 members of the Senior Management Team. The awards, which have been granted in respect of the financial year beginning on 1 January 2022, are over the following maximum number of Shares in the Company:

Name/Position

Category

Maximum number of Shares

J M Vorih /Chief Executive Officer

Director

183,139

P A James/Chief Financial Officer

Director

111,191

M G Pullen/Chief Operating Officer

Director

111,159

C Taylor/Chief People Officer

PDMR

26,947

M Gisbourne/Group Marketing & Strategy Director

PDMR

26,002

E G Versluys/Group Legal Counsel & Company Secretary

PDMR

19,649

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 performance condition, with 25% of the TSR element vesting for achieving median and 100% vesting 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);

2.   25% of the maximum potential award is based on sustainability targets set to align with the Company's sustainability strategy. The targets are as follows:

a.   Carbon reduction target - 8.33% of the total award is based on emissions intensity that is defined as Scope 1 and Scope 2 tonnes of CO2e per tonne of output with 25% of the carbon reduction target vesting for achieving an emissions intensity of 0.108 and 100% vesting for achieving an emissions intensity of 0.086 as measured in FY 2024;

b.   Use of recycled plastics - 8.33% of the total award is based on the proportion of our products that are manufactured from recycled products, with 25% of the use of recycled plastics target vesting for achieving 54.4% and 100% vesting when reaching 62.0% as measured in FY 2024; and

c.   The 5% Club - this target is based on the Group's commitment to creating a sustainable business culture with 25% of the 5% Club target vesting when progress towards the 5% Club reaches 4.2% and 100% vesting when 5% is reached as measured in FY 2024.

3.   50% of the maximum potential award is based on an Underlying Diluted Earnings per Share ("EPS") performance condition based on FY 2024 EPS with 25% of the EPS target vesting for achieving an EPS of 31.5p and 100% vesting for an EPS of 37.3p.

The performance conditions are all measured over the three-year period commencing on 1 January 2022, 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 three-year period.

Subject to the satisfaction of the performance conditions, the awards will normally vest on 22 April 2025 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

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	183,139

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

22 April 2022

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

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

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	111,191

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

22 April 2022

f)

Place of the transaction

Outside a Trading Venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Matt Pullen

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

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

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	111,159

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

22 April 2022

f)

Place of the transaction

Outside a Trading Venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Clare Taylor

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

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	26,947

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

22 April 2022

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

Group Strategy & Marketing 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

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	26,002

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

22 April 2022

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

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	19,649

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

22 April 2022

f)

Place of the transaction

Outside a Trading Venue

Contacts:

Emma Versluys, Group Legal Counsel & Company Secretary      

+44 (0) 1138 315 315

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