19 August 2024
IMPERIAL BRANDS PLC
(THE "COMPANY")
Legal Entity Identifier (LEI) No. 549300DFVPOB67JL3A42
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
Recruitment Award
On 15 August 2024, the Company's new President, Africa, Asia, Australasia, and Central & Eastern Europe (AAACE) Region, Priyali Kamath, was granted a nil-cost conditional award (the "Recruitment Award") over ordinary shares of 10 pence each in the Company ("Shares"). The Recruitment Award has been granted over 56,216 shares.
The Recruitment Award has been granted in order to facilitate Priyali's recruitment, and to replace certain share awards granted to her by her former employer and which she forfeited on joining the Company.
In order to replicate the terms of Priyali's forfeited awards, the Recruitment Award is split into tranches, as follows:
| Number of Shares | Expected Vesting Date |
| 5,539 | 13 September 2024 |
| 5,583 | 15 September 2025 |
| 1,180 | 15 September 2026 |
| 3,821 | 15 September 2027 |
| 9,760 | 1 October 2024 |
| 10,648 | 1 October 2025 |
| 4,156 | 1 October 2026 |
| 8,018 | 1 October 2027 |
| 4,622 | 2 October 2024* |
| 2,185 | 2 October 2025* |
| 704 | 2 October 2026* |
* Dividend Equivalents accrue on these awards.
The vesting of the Recruitment Award (and each tranche thereof) is subject to Priyali's continued service with the Company.
| |
| |||||
| 1. | Details of the person discharging managerial responsibilities/ person closely associated | |||||
| a) | Name | PRIYALI KAMATH | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status | PDMR - PRESIDENT, AFRICA, ASIA, AUSTRALASIA, AND CENTRAL & EASTERN EUROPE (AAACE) REGION | ||||
| b) | Initial notification/ Amendment | INITIAL NOTIFICATION | ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | IMPERIAL BRANDS PLC | ||||
| b) | LEI | 549300DFVPOB67JL3A42 | ||||
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; (iv) each place where transactions have been conducted | |||||
| a) | Description of the financial instrument, type of instrument | ORDINARY SHARES
| ||||
| Identification code | GB0004544929 | |||||
| b) | Nature of the transaction | GRANT OF LTIP AWARDS, VESTING IN 11 TRANCHES BETWEEN 2024 AND 2027. | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information |
| ||||
| e) | Date of the transaction | 15 August 2024 | ||||
| f) | Place of the transaction | OUTSIDE A TRADING VENUE | ||||
Grant of Long Term Incentive Plan Awards
Also on 15 August 2024, the Company made the following grant of awards under the Imperial Brands Long Term Incentive Plan (the "LTIP") to PDMRs:
| PDMR | No. of shares under LTIP award granted (the "LTIP GRANT") |
| Deborah Binks-Moore | 35,232 |
| Priyali Kamath | 31,878 |
Further to its 2023 Annual Report and Accounts, the Company confirms that the performance measures and targets (which should not be construed as guidance) in respect of the Imperial Brands LTIP Grant made on 15 August 2024 are:
| | Weight | Cut-in | Target | Max |
| EPS Growth | 40% | 3.9% | 4.8% | 5.8% |
| ROIC | 15% | 19.1% | 21.1% | 21.9% |
| CFCF (£m) | 15% | 5,900 | 6,700 | 7,500 |
| Relative TSR | 20% | Median | N/A | Upper quart. |
| Scope 1 & 2 carbon emissions | 5% | 70.0% | 72.0% | 75.0% |
| Energy consumption | 5% | 4.5% | 6.0% | 7.5% |
Each element operates independently and is capable of vesting regardless of the Company's performance in respect of the other elements. The Remuneration Committee retains the discretion under the rules of the LTIP to adjust up or down including to zero the number of shares that vest taking into account a number of factors including personal or corporate performance and circumstances that were unforeseen at the date of grant.
Details of individual awards are provided below:
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
| DEBORAH BINKS-MOORE | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| PDMR - CHIEF CORPORATE AFFAIRS OFFICER | ||||
| b)
| Initial notification /Amendment |
INITIAL NOTIFICATION | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a)
| Name
| IMPERIAL BRANDS PLC | ||||
| b)
| LEI
| 549300DFVPOB67JL3A42 | ||||
| 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 SHARES
GB0004544929 | ||||
| b)
| Nature of the transaction
| AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
35,232
NOT APPLICABLE
| ||||
| e)
| Date of the transaction
| 15 AUGUST 2024 | ||||
| f)
| Place of the transaction
| OUTSIDE A TRADING VENUE | ||||
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
| PRIYALI KAMATH | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| PDMR - PRESIDENT, AFRICA, ASIA, AUSTRALASIA, AND CENTRAL & EASTERN EUROPE (AAACE) REGION | ||||
| b)
| Initial notification /Amendment |
INITIAL NOTIFICATION | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a)
| Name
| IMPERIAL BRANDS PLC | ||||
| b)
| LEI
| 549300DFVPOB67JL3A42 | ||||
| 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 SHARES
GB0004544929 | ||||
| b)
| Nature of the transaction
| AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
31,878
NOT APPLICABLE
| ||||
| e)
| Date of the transaction
| 15 AUGUST 2024 | ||||
| f)
| Place of the transaction
| OUTSIDE A TRADING VENUE | ||||
Chris Winters
Deputy Company Secretary
Copies of our announcements are available on our website:
https://www.imperialbrandsplc.com/creating-shareholder-value/stock-exchange-announcements
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