discoverIE Group PLC (LON:DSCV)

discoverIE Group PLC (LON:DSCV)


Share Price
422.00 p
Change
-8 (-1.86 %)
Market Cap
£340.42 m
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discoverIE Group PLC RNS Release

Director LTIP Award


RNS Number : 8007X
discoverIE Group plc
01 May 2019
 

1 May 2019

discoverIE Group plc

Director LTIP Award

 

discoverIE Group plc (LSE : DSCV, "discoverIE" or the "Company"), a leading international designer, manufacturer and supplier of customised electronics to industry, announces that on 30 April 2019, the Company granted long term incentive awards under the discoverIE Group plc 2018 Renewed Long-Term Incentive Plan ("LTIP").

 LTIP Awards(1)

 

Name

Number of Shares Subject to LTIP Award

Nicholas Jefferies

166,236

Simon Gibbins

107,385


(1)  The LTIP awards are granted in the form of nil-cost options over ordinary shares of 5 pence each in the Company ("Ordinary Shares"). The awards will vest on the third anniversary of the date of grant, subject to the achievement of performance targets measured over a three-year period.  Vested options will be subject to an additional two-year holding period prior to being eligible for exercise.

For further information, please contact:

discoverIE Group plc                                                                   01483 544 500

Nick Jefferies - Group Chief Executive

Simon Gibbins - Group Finance Director

Instinctif Partners                                                                             0207 457 2020

Mark Garraway

James Gray

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Nicholas Jefferies

2

Reason for the notification

a)

Position / status

Group Chief Executive

b)

Initial notification / amendment

Initial notification

3

Details of issuer

a)

Name

discoverIE Group plc

b)

LEI

213800BMDLQU1VEEAN68

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

Options over Ordinary Shares in discoverIE Group plc

 

 

GB0000055888

b)

Nature of the transaction

Award made pursuant to the Company's Long-Term Incentive Plan

c)

Price(s) and volume(s)

 

Price

Volume

Nil

166,236

 

 

d)

Aggregated information

 

N/A

 

 

 

 

 

e)

Date of the transaction

30 April 2019

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Simon Gibbins

2

Reason for the notification

a)

Position / status

Group Finance Director

b)

Initial notification / amendment

Initial notification

3

Details of issuer

a)

Name

discoverIE Group plc

b)

LEI

213800BMDLQU1VEEAN68

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

Options over Ordinary Shares in discoverIE Group plc

 

 

GB0000055888

b)

Nature of the transaction

Award made pursuant to the Company's Long-Term Incentive Plan

c)

Price(s) and volume(s)

 

Price

Volume

Nil

107,385

 

 

d)

Aggregated information

 

N/A

 

 

 

 

 

e)

Date of the transaction

30 April 2019

f)

Place of the transaction

Outside a trading venue

 

 

Notes to Editors:

About discoverIE Group plc

discoverIE Group plc is an international group of businesses that designs, manufactures and supplies innovative components for electronic applications.

 

The Group provides application-specific components to original equipment manufacturers ("OEMs") internationally. With in-house engineering capability, we are able to design components to meet customer requirements, which are then manufactured and supplied, usually on a repeating basis, for their ongoing production needs. This generates a high level of repeating revenue and long-term customer relationships.

 

By focusing on key markets which are driven by structural growth and increasing electronic content, namely renewable energy, transportation, medical and industrial connectivity, the Group aims to achieve organic growth that is well ahead of GDP and to supplement that with targeted complementary acquisitions.

 

The Group employs c.4,300 people and its principal operating units are located in Continental Europe, the UK, China, Sri Lanka, India and North America.

 

The Group is listed on the Main Market of the London Stock Exchange and is a member of the FTSE Small Cap Index, classified within the Electrical Components and Equipment subsector, and has revenue of £0.4bn. Over the last five years, revenue and underlying earnings per share has more than doubled.

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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