Norcros PLC
28 July 2026
Norcros plc ("Norcros" or "the Company")
Director Dealings - APSP and DBP Share Options
Director/PDMR Shareholding
Norcros announces that the Board, following a recommendation from the Remuneration Committee, has granted new share options to Thomas Willcocks, a Director of the Company, under the Company's Approved Performance Share Plan (the "APSP") and the Deferred Bonus Plan (the "DBP"), and to Andy Hamer, a person discharging managerial responsibilities ("PDMR"), under the APSP, on 28 July 2026.
The notification below, made in accordance with the requirements of the Market Abuse Regulation ("MAR"), provides further details.
APSP Share Option Awards
The Company has today granted the following nil cost share option awards under the APSP in respect of the current financial year (the "APSP Awards") to Thomas Willcocks, Chief Executive Officer, and Andy Hamer, Interim Chief Financial Officer, over ordinary shares of ten pence each in the Company ("Ordinary Shares").
Under the APSP, awards are made subject to suitably stretching performance targets determined by the Remuneration Committee. Accordingly, vesting of the APSP Awards will be subject to the following:
· 60% to the achievement of Earnings Per Share ("EPS") targets measured over a three-year performance period starting with the current financial year.
· 40% to the Company's total shareholder return performance relative to a number of appropriate comparator companies measured over the three-year period.
· The EPS element will be subject to a discretionary assessment by the Remuneration Committee of the quality of earnings by reference to the Company's return on capital employed performance.
The APSP Awards will normally vest on the third anniversary of their grant, subject to satisfactory achievement of the performance targets and any vested shares will be subject to the Company's policy on a two-year shareholding period. No consideration was paid for the APSP Awards.
|
Name |
Number of Ordinary Shares subject to the APSP Award |
|
Thomas Willcocks (Director, CEO) |
244,849 |
|
Andy Hamer (PDMR, Interim CFO) |
27,604 |
Bonus payment - Deferred Share Awards
Under the annual bonus scheme, 50 per cent. of an Executive Director's total bonus for the year is satisfied in cash, with the other 50 per cent. in the form of nil cost options under the DBP. These options represent 50 per cent. of the bonuses earned by the Executive Directors for the 2026 financial year.
Norcros therefore also announces the grant of the following nil cost share option awards under the DBP in respect of the year ended 31 March 2026 (the "Deferred Awards") to Thomas Willcocks over Ordinary Shares.
|
Name |
Number of Ordinary Shares subject to the Deferred Bonus Plan Award |
|
Thomas Willcocks (Director, CEO) |
48,534 |
The Deferred Awards are granted on the terms of the DBP and will normally vest on the third anniversary of their grant. Because these shares represent part of a bonus already earned, no consideration was paid for the Deferred Awards and no consideration is due to be payable on vesting. Any vested shares will be subject to the Company's policy on a two-year shareholding period.
MAR Notification
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 |
Thomas Willcocks |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Chief Executive Officer (Director) |
||||
|
b) |
Initial notification /Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Norcros plc |
||||
|
b) |
LEI |
213800EIMJZZA1GBIE18 |
||||
|
4 A |
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 10 pence GB00BYYJL418 |
||||
|
b)
|
Nature of the transaction |
Grant of 244,849 options under the Company's Approved Performance Share Plan (the "APSP") |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
n/a n/a |
||||
|
e) |
Date of the transaction |
28 July 2026 |
||||
|
f) |
Place of the transaction |
Wilmslow, Cheshire, England |
||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Thomas Willcocks |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Chief Executive Officer (Director) |
||||
|
b) |
Initial notification /Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Norcros plc |
||||
|
b) |
LEI |
213800EIMJZZA1GBIE18 |
||||
|
4 A |
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 10 pence GB00BYYJL418 |
||||
|
b)
|
Nature of the transaction |
Grant of 48,534 options under the Deferred Bonus Plan (the "DBP") on 28 July 2026 |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
n/a n/a |
||||
|
e) |
Date of the transaction |
28 July 2026 |
||||
|
f) |
Place of the transaction |
Wilmslow, Cheshire, England |
||||
|
1 |
Details of the person discharging managerial responsibilities / person closely associated |
|||||
|
a) |
Name |
Andy Hamer |
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
Interim Chief Financial Officer (PDMR) |
||||
|
b) |
Initial notification /Amendment |
Initial notification |
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
Norcros plc |
||||
|
b) |
LEI |
213800EIMJZZA1GBIE18 |
||||
|
4 A |
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 10 pence GB00BYYJL418 |
||||
|
b)
|
Nature of the transaction |
Grant of 27,604 options under the Company's Approved Performance Share Plan (the "APSP") |
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
n/a n/a |
||||
|
e) |
Date of the transaction |
28 July 2026 |
||||
|
f) |
Place of the transaction |
Wilmslow, Cheshire, England |
||||
Further enquiries:
|
Norcros plc |
Tel: 01625 547 700 |
|
Thomas Willcocks, Chief Executive Officer Andy Hamer, Interim Chief Financial Officer |
|
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