Grant of Options

Belvoir Group PLC

01 June 2023

 

1 June 2023

             

BELVOIR GROUP PLC

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

Grant of share options

Belvoir Group PLC (AIM:BLV), a leading UK property franchise group, today announces that it has granted nil cost options over 373,400 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.

These 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 2025. 

A floor of 57.8p per share and a cap of 66.5p 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 2025 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 2025 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                                      114,350

Louise George                     Chief Financial Officer, Belvoir Group PLC                                         104,630

Michelle Brook                    Financial Services Director, Belvoir Group PLC                                   65,620

Philip Gee                              Managing Director, Northwood GB Limited                                          9,000

David Spackman                 Managing Director, Newton Fallowell Limited                                     9,000

Ian Maclean                          Franchise Director, Belvoir Property Management (UK) Limited 9,000

Tim Wood                              Financial Services Director, Brook Financial Services Ltd                  7,200

Julie Wilson                           Group Financial Controller, Belvoir Group PLC                                     7,200

Immediately prior to these awards the Company's issued share capital was 37,304,437 ordinary shares and there were outstanding CSOP options of 201,040 and LTIP options of 861,407.

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	213800FPT3JTZYB3FP61		213800FPT3JTZYB3FP61
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 nil cost options		Grant of nil cost options
c.	Price(s) and volume(s)
		Price nil	Volume 114,350	Price nil	Volume 104,630
d.	Aggregated information - Aggregated Volume - Price	n/a n/a		n/a n/a
e.	Date of the transaction	31 May 2023		31 May 2023
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	213800FPT3JTZYB3FP61		213800FPT3JTZYB3FP61
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 nil cost options		Grant of nil cost options
c.	Price(s) and volume(s)
		Price nil	Volume 65,620	Price nil	Volume 9,000
d.	Aggregated information - Aggregated Volume - Price	n/a n/a		n/a n/a
e.	Date of the transaction	31 May 2023		31 May 2023
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	213800FPT3JTZYB3FP61		213800FPT3JTZYB3FP61
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 nil cost options		Grant of nil cost options
c.	Price(s) and volume(s)
		Price nil	Volume 9,000	Price nil	Volume 9,000
d.	Aggregated information - Aggregated Volume - Price	n/a n/a		n/a n/a
e.	Date of the transaction	31 May 2023		31 May 2023
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	213800FPT3JTZYB3FP61		213800FPT3JTZYB3FP61
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 nil cost options		Grant of nil cost options
c.	Price(s) and volume(s)
		Price nil	Volume 7,200	Price nil	Volume 7,200
d.	Aggregated information - Aggregated Volume - Price	n/a n/a		n/a n/a
e.	Date of the transaction	31 May 2023		31 May 2023
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 [e-mail]
finnCap Julian Blunt, Teddy Whiley (Corporate Finance) Tim Redfern, Charlotte Sutcliffe (ECM) www.finncap.com		[phone]
Buchanan Charles Ryland, Jack Devoy	[phone]

Notes to editors:

About Belvoir Group PLC

Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir operates a nationwide property franchise Group with 487 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 75,500 properties and reported record revenues of £33.7m in 2022 marking Belvoir's 26^th year of unbroken profit growth.

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

 

END