TIDMCTEC

RNS Number : 4660I

ConvaTec Group PLC

08 August 2019

8 August 2019

ConvaTec Group Plc

("ConvaTec" or "the Company")

Director/PDMR Shareholding

The Company announces the following change in the interests of a Director in ordinary shares of 10 pence each in the share capital of the Company ("Shares").

On 8 August 2019, Frank Schulkes, the Company's Chief Financial Officer and Executive Director, was granted a conditional share award of 606,274 Shares under the Company's Long Term Incentive Plan (LTIP). The award is subject to a time vesting period of three years, performance conditions based on a combination of: relative total shareholder return; earnings per share; and return on invested capital, all over the three-year period and equally weighted, along with continued employment.

The number of Shares are the maximum available if the performance conditions for the three-year performance period are fully satisfied. Details of the 2019 LTIP targets were disclosed in the Company's half year results published on 1 August 2019.

The share price of GBP1.821 was used to determine the number of shares subject to grant, determined by the average closing price of the Company's Shares for the three consecutive business days, up to and including 7 August 2019.

No consideration was paid for the grant of this award.

The attached notification, made in accordance with the requirements of the EU Market Abuse Regulation, gives further detail.

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                                  Frank Schulkes 
  2     Reason for the notification 
  a)    Position/Status                       CFO 
  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 
  a)    Description of the                    Ordinary shares of 10p each in ConvaTec Group Plc 
         financial instrument,                 GB00BD3VFW73 
         type of instrument 
         Identification code 
  b)    Nature of the transaction                   Grant of conditional share award under the ConvaTec Group Plc Long 
                                                    Term Incentive Plan, subject 
                                                    to (i) time vesting period of three years (ii) performance 
                                                    conditions based on a combination 
                                                    of: relative total shareholder return; earnings per share; and 
                                                    return on invested capital, 
                                                    all over the three-year period and equally weighted, along with 
                                                    continued employment. 
  c)    Price(s) and volume(s)                Price(s)                              Volume(s) 
                                               N/A                                   606,274 
  d)    Aggregated information 
         - Aggregated volume                    N/A 
         - Price 
  e)    Date of the transaction               2019-08-08 
  f)    Place of the transaction              Outside a trading venue 
 

Enquiries

Media

   Bobby Leach, VP Group Corporate Affairs, ConvaTec                    +44 (0)7770 842 226 

Finsbury +44 (0)207 251 3801

Analysts and Investors

   John Crosse, VP Investor Relations, ConvaTec                                 +44 (0)7500 141 435 
   Mark Reynolds, Director Investor Relations, ConvaTec                    +44 (0)7551 036 625 

investorrelations@convatec.com

ConvaTec Group Plc's LEI code is 213800LS272L4FIDOH92

About ConvaTec

ConvaTec is a global medical products and technologies company focused on therapies for the management of chronic conditions, with leading market positions in advanced wound care, ostomy care, continence and critical care, and infusion devices. ConvaTec's products provide a range of clinical and economic benefits including infection prevention, protection of at-risk skin, improved patient outcomes and reduced total cost of care. To learn more about ConvaTec, please visit www.convatecgroup.com where a copy of this announcement can also be found.

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 rns@lseg.com or visit www.rns.com.

END

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August 08, 2019 11:30 ET (15:30 GMT)

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