Tyman PLC — Remuneration Information 2020

Mar 26, 2020

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RNS Number : 6334H

Tyman PLC

25 March 2020

TYMAN PLC

("Tyman" or the "Company")

DIRECTOR/PDMR SHAREHOLDINGS

Awards under the Tyman plc Long Term Incentive Plan (the "LTIP")

On 25 March 2020 ("Award Date"), the Company's two Executive Directors were granted the following share awards (the "2020 Awards") under the LTIP, in the form of nil cost options over ordinary shares of 5 pence each in the Company ("Ordinary Shares"):

Name	Number of 2020 Awards1
Jo Hallas	204,353
Jason Ashton	146,032

1 Number of award shares calculated by reference to the 30-day average closing price prior to the announcement of the 2019 full-year results (30 trading days ended 4th March 2020) of £2.722.

Performance conditions

Under the terms of the LTIP, the Awards are subject to the following terms:

·      EPS performance target. 50% of each Award is based on the Company's underlying earnings per share ("EPS") performance target in the financial year 2022 ("FY22"). No part of an Award will vest if the Company's EPS in FY22 is below 31.33p. 25% of an Award will vest if the Company's EPS is equal to 31.33p, rising on a straight-line basis to 100% vesting if the Company's EPS equals to or exceeds 38.57p.

·      ROCE performance target. 50% of each Award is based on the Company's underlying return on capital employed ("ROCE") performance in FY22. No part of an Award will vest if the Company's ROCE is less than 13.0%. 25% of an Award will vest if the Company's ROCE is equal to 13.0%, rising on a straight-line basis to 100% vesting if the Company's ROCE equals to or exceeds 14.2%.

·      TSR. The Awards are also subject to a discretionary underpin based on, inter alia, relative TSR over the period 2020 - 2022.

Five year holding period

Awards granted to the Executive Directors that vest shall be subject to a compulsory holding period of five years from the Award Date.

Timetable and Awards Outstanding

2020 Awards are expected to vest in March 2023, following the announcement of the Company's results for the year ended 31 December 2022, subject to fulfilment of the performance conditions and continued employment in the Group, and the holding requirement is expected to lapse on 25 March 2025.

The details of the Awards are set out below:

1	Details of the persons discharging managerial responsibilities / person closely associated
a)	Names	i.          JO HALLAS ii.          JASON ASHTON
2	Reason for the notification: AWARD OF OPTIONS
a)	Position/status	i.          CHIEF EXECUTIVE OFFICER ii.          CHIEF FINANCIAL OFFICER
b)	Initial notification /Amendment	INITIAL NOTIFICATION
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	TYMAN PLC
b)	LEI	213800AAFUV5PKGQU848
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	ORDINARY SHARES OF 5P EACH
Identification code	ISIN NUMBER:GB00B29H4253
b)	Nature of the transaction	NIL COST OPTIONS GRANTED SUBJECT TO PERFORMANCE CONDITIONS UNDER TYMAN PLC LONG TERM INCENTIVE PLAN
c)	Prices (s) and volume(s)		Price	Volume
i.	Nil	204,353
ii.	Nil	146,032
d)	Aggregated information
- Aggregated volume	- 350,385
- Price	- Nil
e)	Date of the transaction	25 March 2020
f)	Place of the transaction	OUTSIDE OF TRADING VENUE

This announcement is made in accordance with Article 19(3) of the Market Abuse Regulation.

25 March 2020

Tyman plc	020 7976 8000
Peter Ho - General Counsel and Company Secretary	www.tymanplc.com

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