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RENEWI PLC
Director's Dealing • Jul 27, 2020
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Director's Dealing
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National Storage Mechanism | Additional information
Renewi plc (RWI)
Renewi plc: Director/PDMR Shareholding
27-Jul-2020 / 15:27 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Renewi Plc (the "Company")
Long Term Incentive Plan ("LTIP") - 2020 awards and performance targets
Further to the shareholder consultation earlier in the year and as referenced in the Directors' Remuneration Report contained within the recently published Company Annual Report, the three-year performance measures and targets relating to the Renewi plc 27 July 2020 LTIP awards granted to the two Executive Directors are as disclosed below. The targets will be measured over the three years ending 31 March 2023.
Performance targets for 2020 LTIP awards for Renewi plc Executive Directors:
| TSR1 | ROCE | EPS | Recycling rate2 | |||||
| Weighting | 25% | 25% | 25% | 25% | ||||
| Target | Vesting | Target | Vesting | Target | Vesting | Target | Vesting | |
| Threshold | Median | 25% | +0.5% | 25% | +5.0% | 25% | 67% | 25% |
| Max | Upper quartile | 100% | +2.0% | 100% | +15% | 100% | 70% | 100% |
Notes:
- The peer group for the TSR performance target is the FTSE 250 (excluding Investment Trusts). TSR will be calculated using a three-month averaging period at the start and end of the performance period.
- The recycling rate is based on a three-year target based on Renewi's five year sustainability plan.
- Vesting for all targets is calculated on a straight line basis.
- For participants below Board level, ROCE is excluded as a performance measure and the weighting of the remaining three targets are 33.3% each.
Reflecting a lower share price, award levels for the two Executive Directors have been based on a pre Covid-19 notional share price of 34.39p, being the 3 month average volume corrected price in the period after the Company's ATM (thermal soil approved for use in market) announcement of 20 December 2019. Based on the closing share price prior to the grant date, the number of shares under award to the CEO and CFO equates to 106% and 88% of current base salary respectively.
About Renewi
Renewi is a leading waste to product company that gives new life to used materials every day. We have around 7,000 employees working at 162 operating sites across Europe. Our extensive operational network means we are always close to our customers.
For Renewi, waste is a state of mind, and an opportunity. Our many years of knowledge and experience, combined with a broad range of services, allow us to offer sustainable, practical recycling solutions. We use innovation and the latest technology to turn waste into useful materials such as paper, metal, plastic, glass, wood, building materials, compost and energy. In other words, we turn today's waste into tomorrow's raw materials. The result of our work is less waste and contamination, a smarter use of scarce raw materials, and a reduction in carbon emissions. This means that we are contributing towards a cleaner, circular world in which we "waste no more".
Visit our website for more information: www.renewiplc.com.
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
Otto de Bont
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
Renewi plc
b)
LEI
213800CNEIDZBL17KU22
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 10 pence each
GB007995243
b)
Nature of the transaction
Grant of award under the Renewi plc Long Term Incentive Plan 2020
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| £NIL | 1,803,227 |
d)
Aggregated information
- Aggregated volume
- Price
1,803,227
£NIL
e)
Date of the transaction
27 July 2020
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Toby Woolrych
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
Renewi plc
b)
LEI
213800CNEIDZBL17KU22
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 10 pence each
GB007995243
b)
Nature of the transaction
Grant of award under the Renewi plc Long Term Incentive Plan 2020
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| £NIL | 1,262,294 |
d)
Aggregated information
- Aggregated volume
- Price
1,262,294
£NIL
e)
Date of the transaction
27 July 2020
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Helen Richardson
2
Reason for the notification
a)
Position/status
Group HR 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
Renewi plc
b)
LEI
213800CNEIDZBL17KU22
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 10 pence each
GB007995243
b)
Nature of the transaction
Grant of award under the Renewi plc Long Term Incentive Plan 2020
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| £NIL | 125,000 |
d)
Aggregated information
- Aggregated volume
- Price
125,000
£NIL
e)
Date of the transaction
27 July 2020
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Patrick Deprez
2
Reason for the notification
a)
Position/status
Group Product Sales 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
Renewi plc
b)
LEI
213800CNEIDZBL17KU22
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 10 pence each
GB007995243
b)
Nature of the transaction
Grant of award under the Renewi plc Long Term Incentive Plan 2020
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| £NIL | 125,000 |
d)
Aggregated information
- Aggregated volume
- Price
125,000
£NIL
e)
Date of the transaction
27 July 2020
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Baukje Dreimuller
2
Reason for the notification
a)
Position/status
General Counsel (PDMR)
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Renewi plc
b)
LEI
213800CNEIDZBL17KU22
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 10 pence each
GB007995243
b)
Nature of the transaction
Grant of award under the Renewi plc Long Term Incentive Plan 2020
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| £NIL | 125,000 |
d)
Aggregated information
- Aggregated volume
- Price
125,000
£NIL
e)
Date of the transaction
27 July 2020
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Wim Geens
2
Reason for the notification
a)
Position/status
Commercial Belgium MD (PDMR)
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Renewi plc
b)
LEI
213800CNEIDZBL17KU22
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 10 pence each
GB007995243
b)
Nature of the transaction
Grant of award under the Renewi plc Long Term Incentive Plan 2020
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| £NIL | 125,000 |
d)
Aggregated information
- Aggregated volume
- Price
125,000
£NIL
e)
Date of the transaction
27 July 2020
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Meinderdjan Botman
2
Reason for the notification
a)
Position/status
Commercial Netherlands MD (PDMR)
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Renewi plc
b)
LEI
213800CNEIDZBL17KU22
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 10 pence each
GB007995243
b)
Nature of the transaction
Grant of award under the Renewi plc Long Term Incentive Plan 2020
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| £NIL | 125,000 |
d)
Aggregated information
- Aggregated volume
- Price
125,000
£NIL
e)
Date of the transaction
27 July 2020
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
James Priestley
2
Reason for the notification
a)
Position/status
Specialities Division MD (PDMR)
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Renewi plc
b)
LEI
213800CNEIDZBL17KU22
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 10 pence each
GB007995243
b)
Nature of the transaction
Grant of award under the Renewi plc Long Term Incentive Plan 2020
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| £NIL | 125,000 |
d)
Aggregated information
- Aggregated volume
- Price
125,000
£NIL
e)
Date of the transaction
27 July 2020
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Bas van Ginkel
2
Reason for the notification
a)
Position/status
Group Strategy and Business Development 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
Renewi plc
b)
LEI
213800CNEIDZBL17KU22
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 10 pence each
GB007995243
b)
Nature of the transaction
Grant of award under the Renewi plc Long Term Incentive Plan 2020
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| £NIL | 125,000 |
d)
Aggregated information
- Aggregated volume
- Price
125,000
£NIL
e)
Date of the transaction
27 July 2020
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Maarten Buikhuisen
2
Reason for the notification
a)
Position/status
Chief Information 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
Renewi plc
b)
LEI
213800CNEIDZBL17KU22
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 10 pence each
GB007995243
b)
Nature of the transaction
Grant of award under the Renewi plc Long Term Incentive Plan 2020
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| £NIL | 125,000 |
d)
Aggregated information
- Aggregated volume
- Price
125,000
£NIL
e)
Date of the transaction
27 July 2020
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Theo Olijve
2
Reason for the notification
a)
Position/status
Mineralz & Water Division MD (PDMR)
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Renewi plc
b)
LEI
213800CNEIDZBL17KU22
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 10 pence each
GB007995243
b)
Nature of the transaction
Grant of award under the Renewi plc Long Term Incentive Plan 2020
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| £NIL | 125,000 |
d)
Aggregated information
- Aggregated volume
- Price
125,000
£NIL
e)
Date of the transaction
27 July 2020
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Philip Griffin-Smith
2
Reason for the notification
a)
Position/status
Group 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
Renewi plc
b)
LEI
213800CNEIDZBL17KU22
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 10 pence each
GB007995243
b)
Nature of the transaction
Grant of award under the Renewi plc Long Term Incentive Plan 2020
c)
Price(s) and volume(s)
| Shares Price(s) |
Shares Volume(s) |
| £NIL | 75,000 |
d)
Aggregated information
- Aggregated volume
- Price
75,000
£NIL
e)
Date of the transaction
27 July 2020
f)
Place of the transaction
Outside a trading venue
Contact
Tim Pratt, Assistant Company Secretary
| ISIN: | GB0007995243 |
| Category Code: | DSH |
| TIDM: | RWI |
| LEI Code: | 213800CNEIDZBL17KU22 |
| OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
| Sequence No.: | 78079 |
| EQS News ID: | 1102633 |
| End of Announcement | EQS News Service |