DJ Convatec Group PLC: Director/PDMR Shareholding
Convatec Group PLC (CTEC) Convatec Group PLC: Director/PDMR Shareholding 27-Feb-2023 / 09:00 GMT/BST
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27 February 2023
Convatec Group Plc ("Convatec" or "the Company")
Director/ PDMR Shareholding
This announcement provides information on PDMR dealings under the Company's Long Term Incentive Plan 'LTIP' that took place in the course of 2022.
On 14 March 2022, an award granted to Karim Bitar on 30 September 2019 under the Company's LTIP vested automatically in relation to 495,336 shares. This award was granted as part of Karim's compensation for the loss of incentive awards on his appointment to Convatec.
On the same date, pursuant to the default application of the LTIP rules, 233,450 of these shares were automatically sold on Mr Bitar's behalf to cover the income tax liability arising in connection with the vesting of the award.
Further, on 30 September 2022, a conditional award granted to Karim Bitar on 30 September 2019 under the LTIP vested automatically in relation to 146,488 shares.
On the same date, pursuant to the default application of the LTIP rules, 70,876 of these shares were automatically sold on Mr Bitar's behalf to cover the income tax liability arising in connection with the vesting of the award. The balance of these shares are subject to a two year holding period expiring in September 2024.
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
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
Ordinary share of 10p each in Convatec Group
Description of the financial instrument, type of instrument Plc
a)
Identification code
GB00BD3VFW73
Vesting of share award pursuant to the
Company's LTIP, granted on 30 September 2019
b) Nature of the transaction
Volume(s)
Price(s)
c) Price(s) and volume(s) 495,336
N/A
Aggregated information
d) - Aggregated volume N/A
- Price N/A
e) Date of the transaction 2022-03-14
f) Place of the transaction Outside a trading venue
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
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
Ordinary share of 10p each in Convatec Group
Description of the financial instrument, type of Plc
a) instrument
Identification code
GB00BD3VFW73
Sale of shares arising from the vesting of the
b) Nature of the transaction 2019 LTIP, to meet income tax and social
security liabilities due on vesting
Price(s) Volume(s)
c) Price(s) and volume(s)
GBP1.79 233,450
Aggregated information
d) - Aggregated volume N/A
- Price N/A
e) Date of the transaction 2022-03-14
f) Place of the transaction London Stock Exchange
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
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
Ordinary share of 10p each in Convatec Group
Description of the financial instrument, type of instrument Plc
a)
Identification code
GB00BD3VFW73
Vesting of conditional share award pursuant
to the Company's LTIP, granted on 30
b) Nature of the transaction September 2019
Volume
Price(s) (s)
c) Price(s) and volume(s)
N/A
146,488
Aggregated information
d) - Aggregated volume N/A
- Price N/A
e) Date of the transaction 2022-09-30
f) Place of the transaction Outside a trading venue
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
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
Ordinary share of 10p each in Convatec Group
Description of the financial instrument, type of Plc
a) instrument
Identification code
GB00BD3VFW73
Sale of shares arising from the vesting of the
b) Nature of the transaction 2019 LTIP, to meet income tax and social
security liabilities due on the exercise
Price(s) Volume(s)
c) Price(s) and volume(s)
GBP2.03 70,876
Aggregated information
d) - Aggregated volume N/A
- Price N/A
e) Date of the transaction 2022-09-30
f) Place of the transaction London Stock Exchange
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, and a promise to be forever caring, our products and services are available in over 100 countries. Our solutions provide a range of benefits, from infection prevention and protection of at-risk skin, to improved patient outcomes and reduced care costs. The company is a constituent of the FTSE 100 Index (LSE:CTEC) and in 2021 revenues were over USD2 billion. 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.
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ISIN: GB00BD3VFW73 Category Code: DSH TIDM: CTEC LEI Code: 213800LS272L4FIDOH92 OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 225793 EQS News ID: 1568613 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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February 27, 2023 04:00 ET (09:00 GMT)
