15 July 2019
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
On 15 July 2019 the Company’s Executive Directors were granted nil cost option awards over ordinary shares of 5 pence each under the Oxford Instruments plc Performance Share Plan (the "PSP") as noted below:
| Executive Director | Number of shares under award |
| Ian Barkshire | 48,319 |
| Gavin Hill | 37,713 |
Subject to the terms of the PSP, the awards will ordinarily vest and become exercisable as from the third anniversary of the grant of the awards subject to the grantee’s continued service and to the extent to which the performance condition outlined below is met. Dividend equivalents will also be awarded.
| Half of the award | Half of the award |
| EPS growth - 4% p.a. (25% vesting) to 12% p.a. (100% vesting) over three financial years commencing with the 2019/20 financial year. | ROCE 20.5% in the final year of the performance period (2021/22 financial year) (25% vesting) to 23.4% (100% vesting). |
Once exercisable, an award shall ordinarily remain exercisable until the eve of the tenth anniversary of the grant date of the awards.
No consideration was paid for the grant of the awards and no consideration is due on the vesting and/or exercise of the awards. For the purposes of these awards, the grant was made at a share price of £13.74.
The following notification is made in accordance with the requirements of Article 19.3 of the Market Abuse Regulation.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | 1. Ian Barkshire 2. Gavin Hill |
| 2 | Reason for the notification | |
| a) | Position/status | 1. Chief Executive 2. Group Finance Director |
| b) | Initial notification/Amendment | Initial Notification |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Oxford Instruments plc |
| b) | LEI | 213800J364EZD6UCE231 |
| 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 |
Options to acquire ordinary shares of 5 pence each GB0006650450 |
| b) | Nature of the transaction | Grant of Awards (in the form of nil-cost options) under the Oxford Instruments plc Performance Share Plan. Maximum number of shares as follows: 1. Ian Barkshire 48,319 2. Gavin Hill 37,713 |
| c) | Price(s) and volume(s) | Not applicable |
| d) | Aggregated information | Not applicable |
| e) | Date of the transaction | 15 July 2019 |
| f) | Place of the transaction | Not applicable |
Name of contact and telephone number for queries:
Susan Johnson-Brett, Tel: 01865 393324
Susan Johnson-Brett
Company Secretary
For and on behalf of Oxford Instruments plc.