Convatec Group PLC (CTEC)
Convatec Group PLC: Director/PDMR Shareholding

17-March-2023 / 10:30 GMT/BST

17 March 2023

Convatec Group Plc
(“Convatec” or “the Company”)

Director/ PDMR Shareholding 

The Company has been notified of the following transactions in relation to Persons Discharging Managerial Responsibility (“PDMR”) in respect of ordinary shares of 10 pence each in the Company (“Shares”).

On 15 March 2023, awards were granted to Karim Bitar, the Company’s Chief Executive Officer and Jonny Mason, the Company’s Chief Financial Officer, under the Company’s Deferred Bonus Plan (“DBP”) in the form of restricted stock units (“RSUs”), which are due to vest on the third anniversary of grant and are not subject to performance conditions:

Karim Bitar:  201,937

Jonny Mason:  99,826

Further, on the same date, Karim Bitar and Jonny Mason were granted awards under the Company’s Long-Term Incentive Plan (“LTIP”) in the form of Performance Share Units (“PSUs”). These awards are due to vest on the third anniversary of grant, conditional on the following performance conditions: organic revenue growth, adjusted profit before tax growth, total shareholder return; and subject to a two-year post vesting holding period. Further details of the LTIP and performance conditions will be detailed in the Company’s 2022 Annual Report.

Karim Bitar:  1,041,628

Jonny Mason:  565,610

The three-day average share price, closing on 14 March 2023 of £2.21 was used in determining the awards.

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

Karim Bitar

2

Reason for the notification

a)

Position/Status

   Chief Executive Officer and PDMR

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

Convatec Group Plc

b)

LEI

213800LS272L4FIDOH92

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 share of 10p each in Convatec Group Plc

 

GB00BD3VFW73

b)

Nature of the transaction
  1. Grant of RSUs under the DBP, subject to a time-based vesting period of three years and continued employment.

 

  1. Grant of PSUs under the LTIP subject to (i) vesting period of three years (ii) performance conditions based on a combination of organic revenue growth, adjusted profit before tax growth and total shareholder return (iii) two year post vesting holding period.

 

c)

Price(s) and volume(s)

Price(s)

  1. n/a
  2. n/a

Volume(s)

  1.  201,937
  2. 1,041,628

 

d)

Aggregated information

- Aggregated volume 

- Price

 

N/A

N/A

e)

Date of the transaction

2023-03-15

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Jonny Mason

2

Reason for the notification

a)

Position/Status

   Chief Financial Officer and PDMR

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

Convatec Group Plc

b)

LEI

213800LS272L4FIDOH92

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 share of 10p each in Convatec Group Plc

 

GB00BD3VFW73

b)

Nature of the transaction
  1. Grant of RSUs under the DBP, subject to a time-based vesting period of three years and continued employment.

 

  1. Grant of PSUs under the LTIP subject to (i) vesting period of three years (ii) performance conditions based on a combination of organic revenue growth, adjusted profit before tax growth and total shareholder return (iii) two year post vesting holding period.

 

c)

Price(s) and volume(s)

Price(s)

  1. n/a
  2. n/a

Volume(s)

  1.  99,826
  2. 565,610

 

d)

Aggregated information

- Aggregated volume 

- Price

 

N/A

N/A

e)

Date of the transaction

2023-03-15

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 

 

Enquiries 

 

Louise Bryson, Assistant Company Secretary                                            +44(0)7423 694919

 

Cosec@convatec.com 

 

Convatec Group Plc’s LEI code is 213800LS272L4FIDOH92 

 

About Convatec 
 

Pioneering trusted medical solutions to improve the lives we touch: Convatec is a global medical products and technologies company, focused on solutions for the management of chronic conditions, with leading positions in advanced wound care, ostomy care, continence and critical care, and infusion care. With around 10,000 colleagues, we provide our products and services in almost 100 countries, united by a promise to be forever caring. Our solutions provide a range of benefits, from infection prevention and protection of at-risk skin, to improved patient outcomes and reduced care costs. Group revenues in 2022 were over $2 billion. The company is a constituent of the FTSE 100 Index (LSE:CTEC). To learn more about Convatec, please visit http://www.convatecgroup.com.


Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
ISIN: GB00BD3VFW73
Category Code: DSH
TIDM: CTEC
LEI Code: 213800LS272L4FIDOH92
Sequence No.: 230778
EQS News ID: 1585605

 
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UK Regulatory announcement transmitted by EQS Group AG. The issuer is solely responsible for the content of this announcement.