TIDMCARR

RNS Number : 6240Y

Carr's Group PLC

05 May 2023

Carr's Group plc

("Carr's", the "Company", or the "Group")

Director/PDMR Shareholdings

Carr's (CARR.L), the Speciality Agriculture and Engineering Group, announces that the following awards of options ("Options") were made on 4 May 2023 ("Award Date"), pursuant to the Company's Long Term Incentive Plan 2023 (the "LTIP"), to certain PDMRs over ordinary shares in the Company of 2.5p each ("Ordinary Shares"):

 
 PDMR           Number of Ordinary Shares 
 Peter Page     438,347 
 David White    182,573 
 

The Options were awarded for nil-cost subject to the rules of the LTIP and will be exercisable from the third anniversary of the Award Date to the tenth anniversary of the Award Date.

Vesting of the Options is subject to performance targets based upon the Company's adjusted Earnings Per Share ("EPS") and Total Shareholder Return ("TSR") over a three-year performance period covering the financial years 2022/23, 2023/24 and 2024/25 ("Performance Period") as follows:

Adjusted EPS (75% weighting)

 
            Threshold             Maximum 
 Target     5% average annual     14% average annual 
             growth in adjusted    growth in adjusted 
             EPS                   EPS 
           --------------------  -------------------- 
 Vesting    25%                   100% 
           --------------------  -------------------- 
 

TSR (25% weighting)

 
            Threshold            Maximum 
 Target     7% compound annual   16% compound annual 
             growth in TSR        growth in TSR 
           -------------------  -------------------- 
 Vesting    25%                  100% 
           -------------------  -------------------- 
 

Vesting is adjusted on a straight-line basis between threshold and maximum targets. Growth in adjusted EPS is calculated from a base adjusted EPS of 10.0p. Growth in TSR is measured by comparing the Company's average TSR over each of the three-month periods ending on: (i) the day before the start of the Performance Period; and (ii) the final day of the Performance Period.

The following information is included in accordance with Article 19(3) of the Market Abuse Regulation ( No. 596/2014):

 
 1  . Details of the person discharging managerial responsibilities/person closely 
     associated 
 a) Name                                            1. Peter Page 
                                                     2. David White 
                                                   ----------------------------------- 
 2  . Reason for the notification 
 a) Position/status                                 1. Chief Executive Officer 
                                                     2. 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                                            Carr's Group plc 
                                                   ----------------------------------- 
 b) LEI                                             213800HTIKPQV98RA653 
                                                   ----------------------------------- 
 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                    Ordinary Shares of GBP0.025 
  instrument, type of instrument                     each 
                                                   ----------------------------------- 
 b) Identification Code                             GB00BRK01058 
                                                   ----------------------------------- 
 c) Nature of transactions                          Grant of award pursuant to the 
                                                     Company's Long Term Incentive 
                                                     Plan 2023 
                                                   ----------------------------------- 
 d) Price(s) and Volume(s)                          Price(s)             Volume(s) 
                                                     1. Nil-Cost          438,347 
                                                     2. Nil-Cost          182,573 
                                                   -------------------  -------------- 
 e) Aggregated information:                         N/A 
  i. Aggregated volume 
  ii. price 
                                                   ----------------------------------- 
 f) Date of the transaction                         4 May 2023 
                                                   ----------------------------------- 
 g) Place of the transaction                        Outside trading venue 
                                                   ----------------------------------- 
 

Enquiries:

 
Carr's Group plc 
 Ian Wood (Remuneration Committee Chair) 
 Matthew Ratcliffe (Company Secretary)     01228 554 600 
 

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END

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May 05, 2023 08:26 ET (12:26 GMT)

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