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PORVAIR PLC
Director's Dealing • Feb 12, 2025
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Director's Dealing
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National Storage Mechanism | Additional information 
RNS Number : 8939W
Porvair PLC
12 February 2025
For immediate release 12 February 2025
Porvair plc ("Porvair" or the "Company")
Directors' Shareholdings
Porvair plc ("Porvair", the "Group" or the "Company"), the specialist filtration and environmental technologies group, announces the following transactions by Directors in shares and options in the Company:
Grant of Long Term Share Plan options
On 12 February 2025 the Company granted options under the Group's Long Term Share Plan 2018 ("LTSP") to the Executive Directors. Options under the LTSP were granted as follows:
| Director | Position | Options awarded under the LTSP | Grant date | Vesting date | Minimum holding period | Total options held, including SAYE options |
| Hooman Caman Javvi | CEO designate | 123,280 | 12 February 2025 | 12 February 2028 | 2 years after vesting | 123,280 |
| James Mills | CFO | 54,130 | 266,786 |
These options, with a 2 pence exercise price, can only be exercised in full if the Remuneration Committee is satisfied that in the financial year ending 30 November 2027 ('FY2027') the Group has achieved Adjusted EPS of at least 58.7 pence, which is a 15% compound annual growth rate from the Adjusted EPS in the year ended 30 November 2024. 20% of the award will vest if the Group has achieved Adjusted EPS of 43.4 pence in FY2027. A sliding scale will operate if Adjusted EPS are between 43.4 pence and 58.7 pence. No shares vest if the Adjusted EPS in FY2027 are below 43.4 pence. After the vesting period, before the end of the two-year holding period, the option holder may exercise the option but may only sell sufficient shares to settle the option price and the income tax payable. The options may be exercised after the vesting period up until 12 February 2035. Claw-back and malus provisions apply.
Exercises of LTSP
The Company was notified on 11 February 2025 of the following exercises of LTSP Share options over ordinary shares of 2 pence each in the Company ("Ordinary Shares").
| Director | Scheme | Year of grant | Exercise price | Options exercised |
| Ben Stocks | LTSP | 2022 | 2.0p | 75,450 |
Sale of Ordinary shares
On 11 February 2025, the Company was notified that Ben Stocks had sold the following Ordinary Shares to meet: the cost of exercise of options; the personal taxation liabilities arising on the options; and certain other liabilities .
| Director | Transaction | Price | Number |
| Ben Stocks | Sale | £7.16 | 70,000 |
Following these dealings, Ben Stocks' holding in the Company increased by 5,450 Ordinary Shares to 200,458 Ordinary Shares, representing approximately 0.4 per cent. of the Company's issued share capital.
Following these grants and the exercises, the total number of LTSP and SAYE options in issue is 766,358, representing approximately 1.6% of the shares in issue.
For further information, please contact:
| Chris Tyler, Group Company Secretary | 01553 765 500 |
Notes to editors
Porvair plc
Porvair is a group of specialist filtration, laboratory and environmental technology businesses. Its businesses design and manufacture a range of bespoke consumable filtration products that are used in a range of niche filtration markets. It operates in three divisions: Aerospace & Industrial; Laboratory; and Metal Melt Quality.
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
James Mills
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
Porvair plc
b.
LEI
213800ECKHS8LAQO3C45
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
Options over Ordinary Shares of 2 pence under the Porvair plc Long Term Share Plan
GB0006963689
b.
Nature of the transaction
Grant of options
c.
Price(s) and volume(s)
| Price(s) | Volume(s) |
| n/a | 54,130 |
d.
Aggregated information
· Aggregated volume
· Price
As above
e.
Date of the transaction
2025-02-12
f.
Place of the transaction
Outside a trading venue
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
Hooman Caman Javvi
2.
Reason for the notification
a.
Position/status
CEO designate
b.
Initial notification
/Amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.
Name
Porvair plc
b.
LEI
213800ECKHS8LAQO3C45
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
Options over Ordinary Shares of 2 pence under the Porvair plc Long Term Share Plan
GB0006963689
b.
Nature of the transaction
Grant of options
c.
Price(s) and volume(s)
| Price(s) | Volume(s) |
| N/A | 123,280 |
d.
Aggregated information
· Aggregated volume
· Price
As above
e.
Date of the transaction
2025-02-12
f.
Place of the transaction
Outside a trading venue
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
Ben Stocks
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
Porvair plc
b.
LEI
213800ECKHS8LAQO3C45
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
Options over Ordinary Shares of 2 pence under the Porvair plc Long Term Share Plan
GB0006963689
b.
Nature of the transaction
Exercise of options
c.
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 0.02 | 75,450 |
d.
Aggregated information
· Aggregated volume
· Price
As above
e.
Date of the transaction
2025-02-11
f.
Place of the transaction
Outside a trading venue
a.
Description of the
Financial instrument, type
of instrument
Identification code
Ordinary Shares of 2 pence
GB0006963689
b.
Nature of the transaction
Sale of Shares
c.
Price(s) and volume(s)
| Price(s) | Volume(s) |
| 7.16 | 70,000 |
d.
Aggregated information
· Aggregated volume
· Price
As above
e.
Date of the transaction
2025-02-11
f.
Place of the transaction
London Stock Exchange XLON
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