Director/PDMR Shareholdings

12 November 2019

Carr's (CARR.L), the Agriculture and Engineering Group, announces the following awards of options over ordinary shares in the Company of 2.5p each ("Ordinary Shares") to certain PDMRs.

Awards under the Company's Long Term Incentive Plan 2013 (the "LTIP")

On 11 November 2019 (the "Award Date"), awards were made under the Company's Long Term Incentive Plan 2013 (the "Options"). The Options are exercisable for nil consideration, subject to the rules of the LTIP and to the satisfaction of the applicable performance targets.

Owing to acquisitions made during the financial year ended 31 August 2019, the Company's Remuneration Committee has determined to award the Options subject to an inflated initial base adjusted EPS in order to ensure that performance targets remain stretching.  The initial base adjusted EPS figure has accordingly been increased from 14.60 pence per share to 15.78 pence per share.

No consideration was payable on the award of the Options.

The Options will be exercisable (to the extent performance targets are met) from the third anniversary of the Award Date to the tenth anniversary of the Award Date.

The Options have been awarded to certain PDMRs as follows:

Name Number of Ordinary Sharessubject to this award
Tim Davies 199,810
Neil Austin 147,859
Matthew Ratcliffe 31,849

The following information is included in accordance with Article 19(3) of the Market Abuse Regulation (No. 596/2014):

1. Details of the person discharging managerial responsibilities/person closely associated

a) Name

1. Tim Davies

2. Neil Austin

3. Matthew Ratcliffe

2. Reason for the notification

a) Position/status

1. Chief Executive Officer

2. Group Finance Director

3. Company Secretary

b) Initial notification/Amendment

Initial Notification

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

a) Name

Carr's Group plc

b) LEI


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

Ordinary Shares of £0.025 each

b) Identification Code


c) Nature of transactions

Grant of Award

d) Price(s) and Volume(s)


1. £0.025 Ordinary Shares

2. £0.025 Ordinary Shares

3. £0.025 Ordinary Shares





e) Aggregated information:

i. Aggregated volume

ii. price


f) Date of the transaction

Outside trading venue

g) Place of the transaction

Outside trading venue



Carr's Group plc
Matthew Ratcliffe (Company Secretary)
01228 554 600
Nick Dibden
Lisa Kavanagh

020 7250 1446
[email protected]