COMMUNIQUÉ DE PRESSE

par Renewi PLC (isin : GB0007995243)

Renewi plc: Director/PDMR Shareholding

Renewi plc (RWI)
Renewi plc: Director/PDMR Shareholding

20-Jun-2023 / 10:00 GMT/BST


 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

 

Renewi plc (the "Company") announces the following transactions of Persons Discharging Managerial Responsibility ("PDMR") in ordinary shares of £1 each in the share capital of the Company ("Shares").

 

 

Grant of Awards under the Long-Term Incentive Plan (“LTIP”) and Deferred Annual Bonus Scheme (“DAB”)

 

2023 LTIP

On 19 June 2023, conditional awards were granted to the two Executive Directors of the Company under the Renewi plc 2020 Long-Term Incentive Plan, which will vest on the third anniversary of grant in accordance with their performance conditions:

 

Plan

Participant

Award

Vesting date

2023 LTIP

Otto de Bont (CEO)

136,590

19 June 2026

2023 LTIP

Annemieke den Otter (CFO)

92,814

19 June 2026

 

The three-year performance measures and targets relating to 2023 LTIP awards are as disclosed below. The targets will be measured over the three years ending 31 March 2026.

 

 

TSR1

ROCE

EPS

Recycling rate2

Weighting

25%

25%

25%

25%

 

Target

Vesting

Target

Vesting

Target

Vesting

Target

Vesting

Threshold

Median

25%

+0.5%

25%

+5.0%

25%

67%

25%

Max

Upper quartile

100%

+2.0%

100%

+15%

100%

70%

100%

 

Notes:

  1. The peer group for the TSR performance target is the FTSE 250 (excluding Investment Trusts). TSR will be calculated using a three-month averaging period at the start and end of the performance period.
  2. The recycling rate target has been based on the 2023 recycling rate methodology, as described on pages 51 and 52 of the 2023 Renewi plc Annual Report and Accounts. 
  3. Vesting for all targets is calculated on a straight line basis.

 

A two-year post vest holding period applies to the LTIP awards granted to Executive Directors.

 

2023 DAB

On 19 June 2023, conditional awards were granted to the two Executive Directors of the Company under the Renewi plc 2014 Deferred Annual Bonus Scheme. 50% of the 2023 DAB awards vested immediately, with a further 50% to vest on the third anniversary of grant:

 

Plan

Participant

Award

Vesting date

2023 DAB

Otto de Bont (CEO)

48,483

50% on 19 June 2023

50% on 19 June 2026

2023 DAB 

Annemieke den Otter (CFO)

36,604

50% on 19 June 2023

50% on 19 June 2026

 

Both Executive Directors elected to retain all of their Shares from the immediate DAB vest on 19 June 2023, satisfying their associated withholding tax and social security liabilities through direct payments to the Company.

 

 

 

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

 

Otto de Bont

 

2

 

Reason for the notification

 

a)

 

Position/status

 

CEO

b)

 

Initial notification /Amendment

 

Initial Notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Renewi plc

b)

 

LEI

 

213800CNEIDZBL17KU22

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 of £1 each

 

GB00BNR4T868

b)

 

Nature of the transaction

 

 

Grant of 2023 award under the Renewi plc Long Term Incentive Plan

c)

 

Price(s) and volume(s)

 

 

 

Shares

 

Price(s)

Shares

 

Volume(s)

£NIL

136,590

 

 

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

136,590 

 

£NIL

 

e)

 

Date of the transaction

 

19 June 2023

f)

 

Place of the transaction

 

Outside a trading venue

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Annemieke den Otter

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

 

Renewi plc

b)

 

LEI

 

213800CNEIDZBL17KU22

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 of £1 each

 

GB00BNR4T868

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