31 October 2024
CT Automotive Group PLC
("CT Automotive" or
the "Group")
Grant of Awards under the Long Term Incentive
Plan
CT Automotive, a leading designer, developer
and supplier of interior components to the global automotive
industry, announces that on 30 October 2024, the Company awarded
660,194[1] nominal cost options under the
CT Automotive Long Term Incentive Plan 2022 to certain senior
executives, including to its Chief Executive Officer and Chief
Financial Officer.
The awards have been granted in relation to
ordinary shares of £0.005 ("Ordinary Shares") in the form of
options to acquire Ordinary Shares at nominal value ("LTIP Awards") and will all vest on the
third anniversary of grant.
The table below sets out details of the LTIP
Awards granted to directors of the Company.
|
Executive
Director
|
Role
|
Performance
conditions
|
Number of
LTIP Awards granted
|
|
Simon Phillips
|
Chief Executive Officer
|
Earnings per share performance criteria for 3
year period ending FY2025
|
213,592
|
|
Salman Mohammed
|
Chief Financial Officer
|
No performance conditions
|
38,835
|
For future awards, the Remuneration Committee intend to grant
Salman Mohammed awards which will be subject to performance
conditions to reflect the fact that as of 17 October 2024, he is a
member of the Executive Board and considered to be one of the
senior executives.
Enquiries:
|
CT
Automotive
Simon Phillips, Chief Executive
Officer
Salman Mohammed, Chief Financial
Officer
|
Via
Novella
|
|
Singer Capital
Markets Advisory LLP (Nominated Adviser and Broker)
Steve Pearce, Alex Bond, James Todd
|
Tel: +44 (0)20 7496
3000
|
|
Novella
Communications (Financial Public Relations)
Tim Robertson, Claire de Groot, Safia
Colebrook
|
Tel : +44 (0)20 3151
7008
ctautomotive@novella-comms.com
|
Notes to editors
CT Automotive is engaged in the
design, development and manufacture of bespoke automotive interior
finishes (for example, dashboard panels and fascia finishes) and
kinematic assemblies (for example, air registers, arm rests,
deployable cup holders and storage systems), as well as their
associated tooling, for the world's leading automotive original
equipment suppliers ("OEMs") and global Tier One
manufacturers.
The Group is headquartered in the UK
with a low cost manufacturing footprint. Key production facilities
are located in Shenzhen and Ganzhou, China complemented by
additional manufacturing facilities in Mexico, Türkiye and Czechia.
CT Automotive's operating model
enables it to pursue a price leadership strategy, supplying high
quality parts to customers at a lower overall landed cost than
competitors. This has helped the Group build a high-quality
portfolio of OEM customers, both directly and via Tier One
suppliers including Forvia and Marelli. End customers include
volume manufacturers, such as Nissan, Ford,
GM and Volkswagen Audi Group, and premium luxury car brands such as
Bentley and Lamborghini. In addition, the Group supplies all
our customer base with a range of products for PHEV and BEV
platforms and supplies electric car
manufacturers, including Rivian and a US based major EV
OEM.
The Group currently supplies
component part types to over 57 different models for 22 OEMs. Since
its formation, the Group has been one of the very few new entrants
to the market, which is characterised by high barriers to
entry.
The information set out below is provided in
accordance with the requirements of Regulation 19(3) of the EU
Market Abuse Regulation No 596/2014:
|
1
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
(a)
|
Name
|
Simon Phillips
|
|
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
|
CT Automotive Group plc
|
|
(b)
|
LEI
|
213800RP7B4UJ1DDKY67
|
|
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 of £0.005 pence
each
ISIN GB00BMHYGR77
|
|
(b)
|
Nature of the transaction
|
Award of options pursuant to CT Automotive Group
plc 2022 Long Term Incentive Plan
|
|
(c)
|
Price(s) and volume(s)
|
|
|
Price(s)
|
Volume(s)
|
|
|
NIL
|
213,592
|
|
|
(d)
|
Aggregated information
- Aggregated
volume
-
Price
|
N/A
|
|
(e)
|
Date of the transaction
|
30 October 2024
|
|
(f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
|
(a)
|
Name
|
Salman Mohammed
|
|
2
|
Reason for the
notification
|
|
(a)
|
Position/status
|
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
|
CT Automotive Group plc
|
|
(b)
|
LEI
|
213800RP7B4UJ1DDKY67
|
|
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 of £0.005 pence
each
ISIN GB00BMHYGR77
|
|
(b)
|
Nature of the transaction
|
Award of options pursuant to CT Automotive Group
plc 2022 Long Term Incentive Plan
|
|
(c)
|
Price(s) and volume(s)
|
|
|
Price(s)
|
Volume(s)
|
|
|
NIL
|
38,835
|
|
|
(d)
|
Aggregated information
- Aggregated
volume
-
Price
|
N/A
|
|
(e)
|
Date of the transaction
|
30 October 2024
|
|
(f)
|
Place of the transaction
|
Outside a trading venue
|