Director/PDMR Shareholding - Deferred Bonus Awards
27 June 2024
discoverIE Group plc
Director / PDMR Shareholding
Deferred Bonus Awards
discoverIE Group plc (LSE: DSCV, "discoverIE" or the "Company"), a leading international designer and manufacturer of customised electronics for industrial applications, announces that it was notified today of the following transactions in ordinary shares of 5 pence each in the Company ("Ordinary Shares").
In accordance with the Directors' Remuneration Policy, Nick Jefferies, Group Chief Executive and Simon Gibbins, Group Finance Director, are subject to a deferral of 20% of any annual bonus payment into Ordinary Shares, which will be held in trust for a period of three years (the "Deferred Bonus Award"). Mr Jefferies and Mr Gibbins retain eligibility for dividends during the holding period.
7,764 and 4,237 Ordinary Shares were acquired on 26 June 2024 pursuant to the Deferred Bonus Award arrangement, relating to the annual bonuses for Mr Jefferies and Mr Gibbins, respectively, for the year ended 31 March 2024, each at a price of £6.83 per share.
Following these transactions, Mr Jefferies and Mr Gibbins are interested in a total of 1,272,134 and 406,390 Ordinary Shares, respectively, representing 1.32% and 0.42%, respectively, of the Company's issued share capital.
For further information, please contact:
Buchanan Chris Lane, Toto Berger, Jack Devoy | 020 7466 5000 |
Notes to Editors:
About discoverIE Group plc
discoverIE Group plc is an international group of businesses that design and manufacture innovative electronic components for industrial applications.
The Group provides application-specific components to original equipment manufacturers ("OEMs") internationally through its two divisions, Magnetics & Controls, and Sensing & Connectivity. By designing components that meet customers' unique requirements, which are then manufactured and supplied throughout the life of their production, a high level of repeating revenue is generated with long-term customer relationships.
With a focus on sustainable key markets driven by structural growth and increasing electronic content, namely renewable energy, medical, electrification of transportation and industrial automation & connectivity, the Group aims to achieve organic growth that is well ahead of GDP and to supplement that with complementary acquisitions. The Group is committed to reducing the impact of its operations on the environment with an SBTi aligned plan to reach net zero. With its key markets aligned with a sustainable future, the Group has been awarded an ESG "AA" rating by MSCI and is Regional (Europe) Top Rated by Sustainalytics.
The Group employs c.4,500 people across 20 countries with its principal operating units located in Continental Europe, the UK, China, Sri Lanka, India and North America.
discoverIE is listed on the Main Market of the London Stock Exchange and is a member of the FTSE250, classified within the Electrical Components and Equipment subsector.
The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Nick 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 | Ordinary shares in discoverIE Group plc
GB0000055888
| ||||
b) | Nature of the transaction | Acquisition of shares pursuant to deferred bonus arrangement
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information | As above
| ||||
e) | Date of the transaction | 26 June 2024
| ||||
f) | Place of the transaction | London Stock Exchange, Main Market (XLON)
| ||||
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 | Ordinary shares in discoverIE Group plc
GB0000055888
| ||||
b) | Nature of the transaction | Acquisition of shares pursuant to deferred bonus arrangement
| ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information | As above
| ||||
e) | Date of the transaction | 26 June 2024
| ||||
f) | Place of the transaction | London Stock Exchange, Main Market (XLON)
| ||||
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