Grant of Options

RNS Number : 6578U
Belvoir Group PLC
02 August 2022
 


2 August 2022

 

 


 

BELVOIR GROUP PLC

(the "Company", the "Group" or "Belvoir")

 

New Long-Term Incentive Plan

 

Belvoir Group PLC (AIM:BLV), a leading UK property franchise group, today announces that it has granted nominal cost options over 329,265 new ordinary shares in the Company to its Executive Directors and members of its senior management team under the Belvoir Group Performance Share Plan.  The awards reflect their roles and responsibilities in determining and executing the Group strategic growth plans and are intended to retain and incentivise the executive directors and senior management team accordingly.

 

The awards will be 100% subject to an EPS Performance Condition: the cumulative diluted earnings per share ("EPS"), adjusted to exclude exceptional items for the three years to 31 December 2024. 

 

A floor of 62.7p per share and a cap of 72.1p per share applies to the EPS Performance Condition.  The floor requires the Belvoir Group to achieve the cumulative diluted adjusted EPS for the three years to 31 December 2024 as per the current market forecast for that period.  The cap requires the Group to exceed the cumulative diluted adjusted EPS for the three years to 31 December 2024 as per the current market forecast by 15%.  Where performance is below the floor, no options will vest; where performance is at the floor, 25% of the options will vest; and where performance is at or above the cap, 100% will vest. Straight-line vesting applies between the floor and the cap.

 

The maximum awards for directors and PDMRs are stated below:

 

Name  Position  Number of shares

  subject to awards

Dorian Gonsalves  Chief Executive Officer, Belvoir Group PLC  101,075

Louise George  Chief Financial Officer, Belvoir Group PLC  92,475

Michelle Brook  Financial Services Director, Belvoir Group PLC  58,065

Philip Gee  Managing Director, Northwood GB Limited  8,000

David Spackman  Managing Director, Newton Fallowell Limited  8,000

Ian Maclean  Franchise Director, Belvoir Property Management (UK) Limited  8,000

Tim Wood  Financial Services Director, Brook Financial Services Ltd  6,050

Julie Wilson  Group Financial Controller, Belvoir Group PLC  6,050

 

Immediately prior to these awards the Company's issued share capital was 37,292,113 ordinary shares and there were outstanding CSOP options of 233,365 and LTIP options of 542,142.

 

Further details on these grants are included in the notifications below, made in accordance with the requirements of the EU Market Abuse Regulation which is part of English law by virtue of the European Union (Withdrawal) Act 2018.

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

Dorian Gonsalves

Louise George

2

Reason for notification

 

 

 

a.

Position/Status

Chief Executive Officer,
Belvoir Group PLC

Chief Financial Officer,
Belvoir Group PLC

b.

Initial notification/

Amendment

Initial Notification

Initial Notification

3

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

a.

Name

Belvoir Group PLC

Belvoir Group PLC

b.

LEI

N/A

N/A

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 over Ordinary Shares of 1 pence each

 

 

n/a

 

Options over Ordinary Shares of 1 pence each

 

 

n/a

 

b.

Nature of the transaction

Grant of nominal cost options

Grant of nominal cost options

c.

Price(s) and volume(s)



Price

1 pence each

Volume

101,075

Price

1 pence each

Volume

92,475

d.

Aggregated information

- Aggregated Volume

 

- Price



n/a

 

n/a

 

 

n/a

 

n/a

e.

Date of the transaction

2 August 2022

2 August 2022

f.

Place of the transaction

Off market

Off market

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

Michelle Brook

Philip Gee

2

Reason for notification

 

 

 

a.

Position/Status

Financial Services Director,
Belvoir Group PLC

Managing Director,
Northwood GB Limited

b.

Initial notification/

Amendment

Initial Notification

Initial Notification

3

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

a.

Name

Belvoir Group PLC

Belvoir Group PLC

b.

LEI

N/A

N/A

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 over Ordinary Shares of 1 pence each

 

 

n/a

 

Options over Ordinary Shares of 1 pence each

 

 

n/a

 

b.

Nature of the transaction

Grant of nominal cost options

Grant of nominal cost options

c.

Price(s) and volume(s)



Price

1 pence each

Volume

58,065

Price

1 pence each

Volume

8,000

d.

Aggregated information

- Aggregated Volume

 

- Price



n/a

 

n/a



n/a

 

n/a

e.

Date of the transaction

2 August 2022

2 August 2022

f.

Place of the transaction

Off market

Off market

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

David Spackman

Ian Maclean

2

Reason for notification

 

 

 

a.

Position/Status

Managing Director,
Newton Fallowell Limited

Franchise Director,
Belvoir Property Management (UK) Limited

b.

Initial notification/

Amendment

Initial Notification

Initial Notification

3

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

a.

Name

Belvoir Group PLC

Belvoir Group PLC

b.

LEI

N/A

N/A

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 over Ordinary Shares of 1 pence each

 

 

n/a

 

Options over Ordinary Shares of 1 pence each

 

 

n/a

 

b.

Nature of the transaction

Grant of nominal cost options

Grant of nominal cost options

c.

Price(s) and volume(s)



Price

1 pence each

Volume

8,000

Price

1 pence each

Volume

8,000

d.

Aggregated information

- Aggregated Volume

 

- Price



n/a

 

n/a

 

 

n/a

 

n/a

e.

Date of the transaction

2 August 2022

2 August 2022

f.

Place of the transaction

Off market

Off market

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

Julie Wilson

Tim Wood

2

Reason for notification

 

 

 

a.

Position/Status

Group Financial Controller,
Belvoir Group PLC

Financial Services Director,
Brook Financial Services Ltd

b.

Initial notification/

Amendment

Initial Notification

Initial Notification

3

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

a.

Name

Belvoir Group PLC

Belvoir Group PLC

b.

LEI

N/A

N/A

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 over Ordinary Shares of 1 pence each

 

 

n/a

 

Options over Ordinary Shares of 1 pence each

 

 

n/a

 

b.

Nature of the transaction

Grant of nominal cost options

Grant of nominal cost options

c.

Price(s) and volume(s)



Price

1 pence each

Volume

6,05 0

Price

1 pence each

Volume

6, 050

d.

Aggregated information

- Aggregated Volume

 

- Price



n/a

 

n/a

 

 

n/a

 

n/a

e.

Date of the transaction

2 August 2022

2 August 2022

f.

Place of the transaction

Off market

Off market

 

 

For further details:

 

Belvoir Group PLC

Dorian Gonsalves, Chief Executive Officer

Louise George, Chief Financial Officer

www.belvoirgroup.com

 

 01476 584900

investorrelations@belvoirgroup.com

finnCap

Julian Blunt, Teddy Whiley (Corporate Finance)

Tim Redfern (ECM)

www.finncap.com

 

+44 (0) 20 7220 0500  

Buchanan

Charles Ryland & Kim van Beeck

 +44 (0) 20 7466 5000

Notes:

About Belvoir Group PLC

Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir operates a nationwide property franchise Group with 463 offices across seven brands specialising in residential lettings, property management, residential sales and property-related financial services. With its Central Office in Grantham, Lincolnshire, the Group manages 72,900 properties and reported record revenues of £29.6m in 2021 marking Belvoir's 25th year of unbroken profit growth.

For further information, please visit: www.belvoirgroup.com

 

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