Long Term Incentive Plan

RNS Number : 5201J

Billington Holdings PLC

19 August 2019

 

19 August 2019

Billington Holdings Plc

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

Long Term Incentive Plan

The Company confirms today that its Remuneration Committee (the "Committee") has agreed a Long Term Incentive Plan (the "Plan" or "LTIP") in which the Committee can award ordinary shares to employees pursuant to terms of the Plan. The Company has worked with its professional advisors to ensure that this Plan is consistent with best practice in terms of structure and quantum.

Details of the Plan

No awards under the Plan shall be granted which would, at the time of grant, cause the number of shares granted, when added to the number of shares allocated in the previous 10 years to exceed such 10 per cent of the ordinary share capital of the Company in issue at that time.

The number of shares in respect of which awards may be granted to any person in any Financial Year shall not exceed such number as has a market value equal to one times the individual's salary or such other limit as the Remuneration Committee may, in exceptional circumstances, determine and which in any event shall not exceed such number of Shares as has a market value equal to two times salary.

In calculating the award to individuals, the market value of shares subject to an award shall be taken to be the middle-market quotation of such shares on the Dealing Day last preceding the award date.

The objective of the Plan is to ensure that the strategic objectives of the company align with those of the senior management and that the structure of the overall remuneration package assists in maximising shareholder value. Performance criteria related to the improvement in the trading performance of the Company are applicable to the award of shares. The full award of shares shall only be made should progression in Earnings per Share (EPS) be equal to or greater than 20% per annum over a three year horizon period.

Awards under the Plan

The following awards of ordinary shares have been made in this round of the Plan:

Name	Position	Ordinary share options granted under the Plan	Total direct shareholding in BILN	Total % direct Shareholding in BILN	Total number of options held	Total Potential % Shareholding including options
Mark Smith	Chief Executive Officer	68,966	5,000	0.039%	115,508	0.89%
Trevor Michael Taylor	Finance Director	51,724	6,000	0.046%	95,802	0.74%

These shares will be satisfied from the Billington Holdings Plc Employee Share Ownership Trust and it is not anticipated any new shares will be issued to satisfy the award of shares under the Plan.

The following notifications, made in accordance with the requirements of the EU Market Abuse Regulation, gives further details.

For further information please contact:

Billington Holdings Plc                                                                  Tel: [phone]

Mark Smith, Chief Executive

Trevor Taylor, Finance Director

WH Ireland Limited                                                                        Tel: [phone]

Chris Hardie

James Sinclair-Ford

Jasper Berry

IFC Advisory Limited                                                                      Tel: [phone]

Tim Metcalfe                                                    

Miles Nolan                                                                      

Zach Cohen       

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	Mark Smith
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Billington Holdings Plc
b)	LEI	213800MUHLXWQQ6MEN67
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 10p each GB0000332667
b)	Nature of the transaction	Award under Long Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 68,966
d)	Aggregated information -     Aggregated volume -     Price	68,966 Nil
e)	Date of the transaction	19 August 2019
f)	Place of the transaction	Off Market

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Trevor Michael Taylor
2	Reason for the notification
a)	Position/status	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	Billington Holdings Plc
b)	LEI	213800MUHLXWQQ6MEN67
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 10p each GB0000332667
b)	Nature of the transaction	Award under Long Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 51,724
d)	Aggregated information -     Aggregated volume -     Price	51,724 Nil
e)	Date of the transaction	19 August 2019
f)	Place of the transaction	Off Market

 

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