RNS Number : 2323M
Autins Group PLC
20 January 2021
 

20 January 2021

 

Autins Group plc

(the "Company" or the "Group")

 

Management Long Term Incentive Plan

 

Autins Group plc (AIM: AUTG), the UK and European manufacturer of the patented Neptune melt-blown material and specialist in the design, manufacture and supply of acoustic and thermal insulation solutions, announces a new long term incentive plan ("LTIP") in order to reward and incentivise the senior executives to deliver further sustainable and managed growth for the Company.

 

Total nil cost awards under the LTIP have been granted over 2,858,107 ordinary shares and are subject to performance criteria over the three year period ending 30 September 2023 as detailed below.

 

The LTIP awards over 1,270,268 ordinary shares are dependent on Group EBITDA targets in the three financial years ending 30 September 2023 ("EBITDA Awards"). For the maximum awards to be met the Group will need to deliver in aggregate an accumulative EBITDA of £6.0million  (excluding any IFRS adjustments) over the three financial years ending 30 September 2023.

 

Further LTIP awards over 1,587,839 ordinary shares are dependent on the Group's share price at 30 September 2023 ("Share Price Awards"). If the Group's share price is less than 35 pence per share at 30 September 2023 none of the these awards will vest. If the Group's share price is 65 pence or more, 100% of the Share Price Awards will vest.

 

The Share Price and EBITDA Awards will vest in three equal annual instalments from 1 October 2023.

 

Awards have been granted to Gareth Kaminski-Cook (CEO), Kamran Munir (CFO) and Joshua Kimberling, Group Sales Director, as outlined below:

 

Director /PDMR

EBITDA Awards

Share Price Awards

Total Awards

Gareth Kaminski-Cook

648,648

810,811

1,459,459

Kamran Munir

472,972

591,217

1,064,189

Joshua Kimberling

148,648

185,811

334,459

 

 

All prior share options relating to the above named persons have been cancelled in respect of 355,321 options over ordinary shares.

 

 

For further information please contact:

 

Autins Group plc

Gareth Kaminski-Cook, Chief Executive

Kamran Munir, Chief Financial Officer

 

 

Via SEC Newgate

N+1 Singer

(Nominated Adviser and Broker)

Mark Taylor / Carlo Spingardi

 

Tel: 020 7496 3000

SEC Newgate 

(Financial PR)

Adam Lloyd

Tom Carnegie

 

Tel: 020 7653 9850

 

About Autins

Autins is a UK and continental Europe based industrial materials technology business that specialises in the design, manufacture, and supply of acoustic and thermal products. Its key markets are automotive, flooring, office furniture and commercial vehicles where it supplies products and services to more than 160 customer locations across Europe.

Autins is also the sole European manufacturer of the patented Neptune material. Neptune is a lightweight, high-performance acoustic material which offers superior acoustic and thermal properties. It is suitable for a range of applications where acoustic absorption is required. This market-leading product is manufactured in the UK.

 

 

The information contained within this announcement is deemed to constitute inside information for the purposes of article 7 of the Market Abuse Regulation (EU) no. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.    

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

Gareth Kaminski Cook

2

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Autins Group plc

b)

LEI

2138006WN9R3JYOANR87

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

 

Grant of option under LTIP Award

 

 

GB00BD37ZH08

b)

Nature of the transaction

Grant of option under LTIP Award

c)

 

Price(s) and volume(s)

 

Price

Volume

NIL

[1,459,459]

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/A

e)

Date of the transaction

[● January 2021]

f)

Place of the transaction

Off market transaction

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

Kamran Munir

2

Reason for the notification

a)

Position/status

Chief Financial Officer

b)

Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Autins Group plc

b)

LEI

2138006WN9R3JYOANR87

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

 

Grant of option under LTIP Award

 

 

GB00BD37ZH08

b)

Nature of the transaction

Grant of options under LTIP Award

c)

 

Price(s) and volume(s)

 

Price

Volume

NIL

[1,064,189]

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/A

e)

Date of the transaction

[● January 2021]

f)

Place of the transaction

Off market transaction

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

Name

Joshua Kimberling

2

Reason for the notification

a)

Position/status

Group Sales Director

b)

Initial notification /Amendment

Initial

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Autins Group plc

b)

LEI

2138006WN9R3JYOANR87

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

 

Grant of option under LTIP Award

 

 

GB00BD37ZH08

b)

Nature of the transaction

Grant of options under LTIP Award

c)

 

Price(s) and volume(s)

 

Price

Volume

NIL

[334,459]

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/A

e)

Date of the transaction

[● January 2021]

f)

Place of the transaction

Off market transaction

 

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