TI Fluid Systems PLC — Remuneration Information 2020

Jun 17, 2020

National Storage Mechanism | Additional information

RNS Number : 1640Q

TI Fluid Systems PLC

17 June 2020

17 June 2020

TI Fluid Systems plc

(the "Company")

Notification of transaction of Directors/ Persons Discharging Managerial Responsibilities ("PDMR")

Grant of Awards under the Company's Long Term Incentive Plan (the "Plan")

The Company announces that on 15 June 2020 awards of contingent rights to receive ordinary shares in the capital of the Company were made to certain persons discharging managerial responsibilities under the Plan.

The awards will vest, subject to the rules of the Plan, based on the Company's performance, which will be measured over a three-year period from 2020-2022.  As previously indicated in the Company's 2019 Annual Report and Accounts, specific performance measures and targets for awards under the Plan were not determined in March 2020 due to the uncertainty resulting from the COVID-19 pandemic.  Specific performance measures and targets have now been established which are aligned to shareholder interests and the Company's priority of the preservation and generation of cash in light of the various potential outcomes arising from the COVID-19 pandemic.  As a result, the Company will no longer consider Adjusted Basic Earnings Per Share Growth (Compound Annual Growth Rate), and the specific performance measures and targets applicable to these awards are as follows:

Performance Condition	Weighting	Vesting at Threshold	Threshold	Maximum	Outperformance
Cumulative Adjusted Free Cash Flow	80%	20%	€110 Million	€260 Million	€285 Million
Relative Total Shareholder Return	20%	25%	Median	Upper Quartile	Not applicable

The awards were made at no cost to the individual.  The per share price used for the purposes of calculating the maximum number of shares subject to these awards was £1.70, being the closing price on the London Stock Exchange as at 12 June 2020, the day prior to the grant date of the awards.

The following notifications are made in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation.

Enquiries:
TI Fluid Systems plc: David Royce Investor Relations	+1 (248) 376 8624
FTI Consulting:	+44 (0)20 3727 1340
Richard Mountain
Nick Hasell

Details of the person discharging managerial responsibilities/person closely associated
Name	William L. Kozyra
Reason for the notification
Position/status	Chief Executive Officer & President
Initial notification/ Amendment	Initial notification
Details of the issuer
Name	TI Fluid Systems plc
LEI	5493001T9RXVD6OAWY46
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
Description of the financial instrument, type of instrument Identification code	Ordinary shares of TI Fluid Systems plc GB00BYQB9V88
Nature of the transaction	Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration.
Price(s) and volume(s)	Price(s)                                    Volume(s)  Nil                                               2,127,970
Aggregated information -      Aggregated volume -      Price	N/A
Date and time of the transaction	15 June 2020
Place of the transaction	Outside a trading venue

Details of the person discharging managerial responsibilities/person closely associated
Name	Ronald Hundzinski
Reason for the notification
Position/status	Chief Financial Officer
Initial notification/ Amendment	Initial notification
Details of the issuer
Name	TI Fluid Systems plc
LEI	5493001T9RXVD6OAWY46
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
Description of the financial instrument, type of instrument Identification code	Ordinary shares of TI Fluid Systems plc  GB00BYQB9V88
Nature of the transaction	Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration.
Price(s) and volume(s)	Price(s)                                    Volume(s)  Nil                                              843,261
Aggregated information -      Aggregated volume -      Price	N/A
Date and time of the transaction	15 June 2020
Place of the transaction	Outside a trading venue

Details of the person discharging managerial responsibilities/person closely associated
Name	Hans Dieltjens
Reason for the notification
Position/status	Executive Vice President - FTDS
Initial notification/ Amendment	Initial notification
Details of the issuer
Name	TI Fluid Systems plc
LEI	5493001T9RXVD6OAWY46
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
Description of the financial instrument, type of instrument Identification code	Ordinary shares of TI Fluid Systems plc GB00BYQB9V88
Nature of the transaction	Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration.
Price(s) and volume(s)	Price(s)                                    Volume(s)  Nil                                                  500,686
Aggregated information -      Aggregated volume -      Price	N/A
Date and time of the transaction	15 June 2020
Place of the transaction	Outside a trading venue

Details of the person discharging managerial responsibilities/person closely associated
Name	Stefan Rau
Reason for the notification
Position/status	Executive Vice President - FCS
Initial notification/ Amendment	Initial notification
Details of the issuer
Name	TI Fluid Systems plc
LEI	5493001T9RXVD6OAWY46
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
Description of the financial instrument, type of instrument Identification code	Ordinary shares of TI Fluid Systems plc GB00BYQB9V88
Nature of the transaction	Award of contingent rights to receive shares under the TI Fluid Systems plc Long Term Incentive Plan for nil consideration.
Price(s) and volume(s)	Price(s)                                    Volume(s)  Nil                                                  387,110
Aggregated information -      Aggregated volume -      Price	N/A
Date and time of the transaction	15 June 2020
Place of the transaction	Outside a trading venue

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