15 March 2024
TT Electronics plc
Deferred Share Bonus Plan
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
TT Electronics Deferred Share Bonus Plan ("DSBP"): vesting of 2022 Awards and related sales.
On 14 March 2022, the Company announced that conditional awards of ordinary shares of 25p each in the Company ("Shares"), equal to 20 per cent of the 2021 short-term incentive award, had been granted under the DSBP to the Executive Directors of the Company. On 14 March 2024, the deferred shares described above vested on the second anniversary of the conditional award of Shares.
The table below shows the number of related Shares acquired by the remaining Executive Director entitled to receive Shares under the award, the number of Shares sold to satisfy the tax and national insurance liabilities, and the number of Shares retained following the sales.
| Executive Director | Shares Vested | Shares sold to satisfy tax and NI liabilities | Shares retained | Resultant beneficial interest in the Company's shares |
| Mark Hoad | 46,039 | 21,639 | 24,400 | 812,1991 |
1 M Hoad's beneficial interest includes shares held by a PCA, Tracy Hoad.
The Company makes this announcement, including the notifications below, in accordance with the requirements of the EU Market Abuse Regulation.
| 1. | Details of PDMR / person closely associated with them ('PCA') | |||||
| a) | Name | 1) Mark Hoad
| ||||
| 2. | Reason for the notification | |||||
| a) | Position / status | 1) CFO | ||||
| b) | Initial notification / Amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | TT Electronics plc | ||||
| b) | LEI | 213800TJGBW5VFHQEV54 | ||||
| 4. | Details of the transaction(s) | |||||
| a) | Description of the financial instrument, type of instrument
Identification Code | Ordinary shares of 25p each
GB0008711763 | ||||
| b) | Nature of the transaction | Acquisition of ordinary shares arising in connection with the settlement of Deferred Share Bonus Plan award granted on 14 March 2022 | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information
Aggregated volume Price |
46,039 £0.00
| ||||
| e) | Date of the transaction | 2024-03-14 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of PDMR / person closely associated with them ('PCA') | |||||
| a) | Name | 1) Mark Hoad
| ||||
| 2. | Reason for the notification | |||||
| a) | Position / status | 1) CFO | ||||
| b) | Initial notification / amendment | Initial notification | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | TT Electronics plc | ||||
| b) | LEI | 213800TJGBW5VFHQEV54 | ||||
| 4. | Details of the transaction(s) | |||||
| a) | Description of the financial instrument, type of instrument
Identification Code | Ordinary shares of 25p each
GB0008711763 | ||||
| b) | Nature of the transaction | Disposal of shares to satisfy tax and NI liabilities in respect of the settlement of Deferred Share Bonus Plan award granted on 14 March 2022 | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information
Aggregated volume Price |
21,639 £1.534 | ||||
| e) | Date of the transaction | 2024-03-14 | ||||
| f) | Place of the transaction | London Stock Exchange | ||||
For further information please contact:
TT Electronics plc
Peter France, Chief Executive Officer: Tel: + 44 (0)1932 825300
Mark Hoad, Chief Financial Officer:
Kate Moy, Head of Investor Relations
MHP Communications
Tim Rowntree / Ollie Hoare: Tel: +44 (0)20 3128 8100
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