TT Electronics PLC Director/PDMR Shareholding (4612S)

TIDMTTG

RNS Number : 4612S

TT Electronics PLC

16 March 2021

TT Electronics plc

Long Term Incentive Plan

TT Electronics plc (the "Company") announces that conditional awards of ordinary shares of 25p each in the Company ("Shares") were granted on 16 March 2021 under the Long Term Incentive Plan 2014 to the following Executive Directors of the Company:

   Executive Director                                                                   Maximum Number

of Shares

Richard Tyson 349,621

Mark Hoad 262,265

No consideration is payable for the grant of the awards.

As supported by the Investment Association's recent addendum to its guidance on shareholder expectations during the Covid-19 pandemic, the Company's Remuneration Committee resolved to set the performance targets attached to the awards within six months of their grant date. The targets, which will be based on Earnings Per Share and relative Total Shareholder Return, will be published as soon as possible after they have been agreed via an RNS. The awards will normally vest three years from the date of grant, subject to achievement of their performance conditions and the grantee's continued service.

Awards are subject to clawback provisions.

The Company was informed of the above transactions on 16 March 2021. The following notifications, made in accordance with the requirements of the EU Market Abuse Regulation, give further details.

 
 1.   Details of PDMR / person closely associated with them ('PCA') 
===  ============================================================================= 
 a)   Name                           Richard Tyson 
===  =============================  ============================================== 
 2.   Reason for the notification 
     ============================================================================= 
 a)   Position / status              CEO 
===  =============================  ============================================== 
 b)   Initial notification           Initial notification 
       / 
       Amendment 
===  =============================  ============================================== 
 3.   Details of the issuer, emission allowance market participant, auction 
       platform, auctioneer or auction monitor 
===  ============================================================================= 
 a)   Name                           TT Electronics plc 
===  =============================  ============================================== 
 b)   LEI                            213800TJGBW5VFHQEV54 
===  =============================  ============================================== 
 4.   Details of the transaction(s) 
===  ============================================================================= 
 a)   Description of the financial   Ordinary shares of 25p each 
       instrument, type of 
       instrument 
 
       Identification Code            GB0008711763 
===  =============================  ============================================== 
 b)   Nature of the transaction      Grant of conditional award of ordinary shares 
                                      under the terms of the Long Term Incentive 
                                      Plan 2014 
===  =============================  ============================================== 
 c)   Price(s) and volume(s)           Price(s)    Volume(s) 
                                        GBP0.00     349,621 
                                                   ---------- 
===  =============================  ============================================== 
 d)   Aggregated information 
       Aggregated volume               See 4c above 
       Price                           See 4c above 
===  =============================  ============================================== 
 e)   Date of the transaction        2021-03-16 
===  =============================  ============================================== 
 f)   Place of the transaction       Outside a trading venue 
     =============================  ============================================== 
 
 
 1.   Details of PDMR / person closely associated with them ('PCA') 
===  ============================================================================= 
 a)   Name                           Mark Hoad 
===  =============================  ============================================== 
 2.   Reason for the notification 
     ============================================================================= 
 a)   Position / status              CFO 
===  =============================  ============================================== 
 b)   Initial notification           Initial notification 
       / 
       amendment 
===  =============================  ============================================== 
 3.   Details of the issuer, emission allowance market participant, auction 
       platform, auctioneer or auction monitor 
===  ============================================================================= 
 a)   Name                           TT Electronics plc 
===  =============================  ============================================== 
 b)   LEI                            213800TJGBW5VFHQEV54 
===  =============================  ============================================== 
 4.   Details of the transaction(s) 
===  ============================================================================= 
 a)   Description of the financial   Ordinary shares of 25p each 
       instrument, type of 
       instrument 
 
       Identification Code            GB0008711763 
===  =============================  ============================================== 
 b)   Nature of the transaction      Grant of conditional award of ordinary shares 
                                      under the terms of the Long Term Incentive 
                                      Plan 2014 
===  =============================  ============================================== 
 c)   Price(s) and volume(s)           Price(s)    Volume(s) 
                                        GBP0.00     262,265 
                                                   ---------- 
===  =============================  ============================================== 
 d)   Aggregated information 
       Aggregated volume               See 4c above 
       Price                           See 4c above 
===  =============================  ============================================== 
 e)   Date of the transaction        2021-03-16 
===  =============================  ============================================== 
 f)   Place of the transaction       Outside a trading venue 
     =============================  ==============================================

For further information please contact:

TT Electronics plc

   Richard Tyson, Chief Executive Officer:                               Tel:  + 44 (0)1932 825300

Mark Hoad, Chief Financial Officer:

Julian Wais, Head of Investor Relations

MHP Communications

Tim Rowntree / Rachel Mann: Tel: +44 (0)20 3128 8100

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