Notification of transactions by Directors
Directors awarded conditional shares under LTIP vesting in February 2027 subject to performance conditions.
- CEO share award 882,367 shares
- CFO share award 522,598 shares
- Share price for calculation £0.8006
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Ecora Resources PLC (LSE/TSX: ECOR) announces that awards of Ordinary Shares ("Shares") were made under the Company's Long Term Incentive Plan ("LTIP") at nil cost on 20 February 2024 to Directors as detailed below. A share price of £0.8006, being the 5-day volume weighted average price before grant as approved by the Company's Remuneration Committee, has been used to determine the number of shares awarded.
The LTIP provides Directors with Shares awarded on a conditional basis as determined by the Remuneration Committee. These awards will vest in February 2027, subject to the satisfaction of performance conditions linked to total shareholder return, portfolio contribution and adjusted earnings per share. Any vested Shares will then be subject to a further holding period of two years and will be released in February 2029.
Director Share Dealings - Further information
The notifications below, made in accordance with the requirements of the UK version of the Market Abuse Regulation (596/2014/EU)[1], provides further detail in respect of the transactions as described at the beginning of this announcement.
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | Mr. Marc Bishop Lafleche | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | Chief Executive Officer of Ecora Resources PLC | ||||
| b. | Initial notification/Amendment | Initial Notification | ||||
| a. | Name | Ecora Resources PLC | ||||
| b. | LEI | 213800LXSV317746JZ71 | ||||
| a. | Description of the Financial instrument, type of instrument Identification code | 2p Ordinary Shares GB0006449366 | ||||
| b. | Nature of the transaction | Award of Shares under the terms of the Ecora Resources PLC Long-Term Incentive Plan 2021. Subject to the satisfaction of performance conditions, the award will vest in February 2027; the Shares will then be subject to a further holding period of two years and will be released in February 2029. | ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price | 882,367 0.00p | ||||
| f. | Place of the transaction | London Stock Exchange, Main Market (XLON) | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a. | Name | Mr. Kevin Flynn | ||||
| 2. | Reason for the notification | |||||
| a. | Position/status | Chief Financial Officer of Ecora Resources PLC | ||||
| b. | Initial notification/Amendment | Initial Notification | ||||
| a. | Name | Ecora Resources PLC | ||||
| b. | LEI | 213800LXSV317746JZ71 | ||||
| a. | Description of the Financial instrument, type of instrument Identification code | 2p Ordinary Shares GB0006449366 | ||||
| b. | Nature of the transaction | Award of Shares under the terms of the Ecora Resources PLC Long-Term Incentive Plan 2021. Subject to the satisfaction of performance conditions, the award will vest in February 2027; the Shares will then be subject to a further holding period of two years and will be released in February 2029. | ||||
| c. | Price(s) and volume(s) |
| ||||
| d. | Aggregated information · Aggregated volume · Price | 522,598 0.00p | ||||
| f. | Place of the transaction | London Stock Exchange, Main Market (XLON) |
[1]This is part of UK law by virtue of the European Union Withdrawal Act 2018.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.