27 February 2023
Convatec Group Plc
("Convatec" or "the Company")
Director/ PDMR Shareholding
This announcement provides information on PDMR dealings under the Company’s Long Term Incentive Plan ‘LTIP’ that took place in the course of 2022.
On 14 March 2022, an award granted to Karim Bitar on 30 September 2019 under the Company’s LTIP vested automatically in relation to 495,336 shares. This award was granted as part of Karim’s compensation for the loss of incentive awards on his appointment to Convatec.
On the same date, pursuant to the default application of the LTIP rules, 233,450 of these shares were automatically sold on Mr Bitar’s behalf to cover the income tax liability arising in connection with the vesting of the award.
Further, on 30 September 2022, a conditional award granted to Karim Bitar on 30 September 2019 under the LTIP vested automatically in relation to 146,488 shares.
On the same date, pursuant to the default application of the LTIP rules, 70,876 of these shares were automatically sold on Mr Bitar’s behalf to cover the income tax liability arising in connection with the vesting of the award. The balance of these shares are subject to a two year holding period expiring in September 2024.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
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1
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Details of the person discharging managerial responsibilities/person closely associated
|
|
a)
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Name
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Karim Bitar
|
|
2
|
Reason for the notification
|
|
a)
|
Position/Status
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Chief Executive Officer
|
|
b)
|
Initial notification/Amendment
|
Initial notification
|
|
3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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|
a)
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Name
|
Convatec Group Plc
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|
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 financial instrument, type of instrument
Identification code
|
Ordinary share of 10p each in Convatec Group Plc
GB00BD3VFW73
|
|
b)
|
Nature of the transaction
|
Vesting of share award pursuant to the Company’s LTIP, granted on 30 September 2019
|
|
c)
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Price(s) and volume(s)
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Price(s)
N/A
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Volume(s)
495,336
|
|
d)
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Aggregated information
- Aggregated volume
- Price
|
N/A
N/A
|
|
e)
|
Date of the transaction
|
2022-03-14
|
|
f)
|
Place of the transaction
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Outside a trading venue
|
|
|
|
|
|
|
|
1
|
Details of the person discharging managerial responsibilities/person closely associated
|
|
a)
|
Name
|
Karim Bitar
|
|
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
|
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 financial instrument, type of instrument
Identification code
|
Ordinary share of 10p each in Convatec Group Plc
GB00BD3VFW73
|
|
b)
|
Nature of the transaction
|
Sale of shares arising from the vesting of the 2019 LTIP, to meet income tax and social security liabilities due on vesting
|
|
c)
|
Price(s) and volume(s)
|
Price(s)
£1.79
|
Volume(s)
233,450
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A
N/A
|
|
e)
|
Date of the transaction
|
2022-03-14
|
|
f)
|
Place of the transaction
|
London Stock Exchange
|
|
|
|
|
|
|
|
1
|
Details of the person discharging managerial responsibilities/person closely associated
|
|
a)
|
Name
|
Karim Bitar
|
|
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
|
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 financial instrument, type of instrument
Identification code
|
Ordinary share of 10p each in Convatec Group Plc
GB00BD3VFW73
|
|
b)
|
Nature of the transaction
|
Vesting of conditional share award pursuant to the Company’s LTIP, granted on 30 September 2019
|
|
c)
|
Price(s) and volume(s)
|
Price(s)
N/A
|
Volume(s)
146,488
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A
N/A
|
|
e)
|
Date of the transaction
|
2022-09-30
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
|
|
|
|
|
|
1
|
Details of the person discharging managerial responsibilities/person closely associated
|
|
a)
|
Name
|
Karim Bitar
|
|
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
|
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 financial instrument, type of instrument
Identification code
|
Ordinary share of 10p each in Convatec Group Plc
GB00BD3VFW73
|
|
b)
|
Nature of the transaction
|
Sale of shares arising from the vesting of the 2019 LTIP, to meet income tax and social security liabilities due on the exercise
|
|
c)
|
Price(s) and volume(s)
|
Price(s)
£2.03
|
Volume(s)
70,876
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A
N/A
|
|
e)
|
Date of the transaction
|
2022-09-30
|
|
f)
|
Place of the transaction
|
London Stock Exchange
|
|
|
|
|
|
|
Enquiries
Louise Bryson, Assistant Company Secretary +44(0)7423 694919
Convatec Group Plc’s LEI code is 213800LS272L4FIDOH92
About Convatec
Pioneering trusted medical solutions to improve the lives we touch: Convatec is a global medical products and technologies company, focused on solutions for the management of chronic conditions, with leading positions in advanced wound care, ostomy care, continence and critical care, and infusion care. With around 10,000 colleagues, and a promise to be forever caring, our products and services are available in over 100 countries. Our solutions provide a range of benefits, from infection prevention and protection of at-risk skin, to improved patient outcomes and reduced care costs. The company is a constituent of the FTSE 100 Index (LSE:CTEC) and in 2021 revenues were over $2 billion. To learn more about Convatec, please visit
