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”) 2024 LTIP On 5 June 2024, 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
2024 LTIP
Otto de Bont (CEO)
109,831
5 June 2027
2024 LTIP
Annemieke den Otter (CFO)
74,630
5 June 2027
The three-year performance measures and targets relating to 2024 LTIP awards are as disclosed below. The targets will be measured over the three years ending 31 March 2027.
TSR1
ROCE
EPS
Weight adjusted recycling rate2
Weighting
25%
25%
25%
25%
Target
Vesting
Target
Vesting
Target
Vesting
Target
Vesting
Threshold
Median
25%
+0.5%
25%
+5.0%
25%
TBC
25%
Max
Upper quartile
100%
+2.0%
100%
+15%
100%
TBC
100%
Notes: 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. The weight adjusted recycling rate targets will be detailed in the FY25 Annual Report and Accounts. 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. 2024 DAB On 5 June 2024, conditional awards were granted to the two Executive Directors of the Company under the Renewi plc 2024 Deferred Annual Bonus Scheme. 50% of the 2024 DAB awards vested immediately, with a further 50% to vest on the third anniversary of grant:
Plan
Participant
Award
Vesting date
2024 DAB
Otto de Bont (CEO)
29,288
50% on 5 June 2024 50% on 5 June 2027
2024 DAB
Annemieke den Otter (CFO)
24,876
50% on 5 June 2024 50% on 5 June 2027
Both Executive Directors elected to retain all of their Shares from the immediate DAB vest on 5 June 2024, satisfying their associated withholding tax and social security liabilities through direct payments to the Company. Share Purchase Over the two trading days 5 to 6 June 2024, Annemieke den Otter purchased a total of 19,500 Shares on Euronext Amsterdam at an aggregated price of € 150,835.60. 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 2024 award under the Renewi plc Long Term Incentive Plan
c)
Price(s) and volume(s)
Shares Price(s)
Shares Volume(s)
£NIL
109,831
d)
Aggregated information - Aggregated volume - Price
109,831 £NIL
e)
Date of the transaction
5 June 2024
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
b)
Nature of the transaction
Grant of 2024 award under the Renewi plc Long Term Incentive Plan
c)
Price(s) and volume(s)
Shares Price(s)
Shares Volume(s)
£NIL
74,630
d)
Aggregated information - Aggregated volume - Price
74,630 £NIL
e)
Date of the transaction
5 June 2024
f)
Place of the transaction
Outside a trading venue
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 2024 award of 29,288 shares under the Deferred Annual Bonus Scheme, 50% of which vested immediately, 50% of which will vest on 5 June 2027
c)
Price(s) and volume(s)
Shares Price(s)
Shares Volume(s)
£NIL
29,288
d)
Aggregated information - Aggregated volume - Price
29,288 £NIL
e)
Date of the transaction
5 June 2024
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
b)
Nature of the transaction
Grant of 2024 award of 24,876 shares under the Deferred Annual Bonus Scheme, 50% of which vested immediately, 50% of which will vest on 5 June 2027
c)
Price(s) and volume(s)
Shares Price(s)
Shares Volume(s)
£NIL
24,876
d)
Aggregated information - Aggregated volume - Price
24,876 £NIL
e)
Date of the transaction
5 June 2024
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
