Award of Options

RNS Number : 3241O

NWF Group PLC

31 January 2023

 

For release Tuesday 31 January 2023

NWF Group plc 

NWF Group plc: Award of Options under Company Performance Share Plan

NWF Group plc ('NWF' or the 'Company'), the specialist distributor of fuel, food and feed across the UK, announces the following awards have been approved under the terms of the established NWF Company Performance Share Plan (the "Plan").

Richard Whiting, Chief Executive of NWF, will receive an award of a conditional right over a maximum of 138,478   ordinary shares of 25 pence each of the Company ("Shares") at a price of 230   pence per Share, being the mid-market price at the close of business on 30 January 2023. This award is subject to the following performance targets:

1.  if the reported headline basic earnings per share for the three financial years ending 31 May 2025 increases by RPI plus 2% per annum then 41,543   Shares will be issued under the Plan; and

2.  the maximum of 138,478   Shares will be issued if the reported headline basic earnings per share increases by RPI plus 8% per annum for the three financial years ending 31 May 2025.

Following the award, Richard Whiting will be interested in 428,917 conditional awards over Shares.

Chris Belsham, Group Finance Director of NWF, will receive an award of a conditional right over a maximum of 83,261   Shares at a price of 230 pence per Share, being the mid-market price at the close of business on 30 January 2023. This award is subject to the following performance targets:

1.  if the reported headline basic earnings per share for the three financial years ending 31 May 2025 increases by RPI plus 2% per annum then 24,978   Shares will be issued under the Plan; and

2.  the maximum of 83,261   Shares will be issued if the reported headline basic earnings per share increases by RPI plus 8% per annum for the three financial years ending 31 May 2025.

Following the award, Chris Belsham will be interested in 257,877 conditional awards over Shares.

Rob Andrew, Company Secretary of NWF, will receive an award of a conditional right over a maximum of 62,500   Shares at a price of 230 pence per Share, being the mid-market price at the close of business on 30 January 2023. This award is subject to the following performance targets:

1.  if the reported headline basic earnings per share for the three financial years ending 31 May 2025 increases by RPI plus 2% per annum then 18,750 Shares will be issued under the Plan; and

2.  the maximum of 62,500 Shares will be issued if the reported headline basic earnings per share increases by RPI plus 8% per annum for the three financial years ending 31 May 2025.

Following the award, Rob Andrew will be interested in 193,493 conditional awards over Shares.

Andrew Downie, Managing Director of NWF Agriculture , will receive an award of a conditional right over a maximum of 59,429 Shares at a price of 230   pence per Share, being the mid-market price at the close of business on 30 January 2023. This award is subject to the following performance targets:

1.  if the reported headline basic earnings per share for the three financial years ending 31 May 2025 increases by RPI plus 2% per annum then 17,829   Shares will be issued under the Plan; and

2.  the maximum of 59,429 Shares will be issued if the reported headline basic earnings per share increases by RPI plus 8% per annum for the three financial years ending 31 May 2025.

Following the award, Andrew Downie will be interested in 185,360 conditional awards over Shares.

Angela Carus, Managing Director of Boughey Distribution , will receive an award of a conditional right over a maximum of 57,098 Shares at a price of 230   pence per Share, being the mid-market price at the close of business on 30 January 2023. This award is subject to the following performance targets:

1.  if the reported headline basic earnings per share for the three financial years ending 31 May 2025 increases by RPI plus 2% per annum then 17,129   Shares will be issued under the Plan; and

2.  the maximum of 57,098   Shares will be issued if the reported headline basic earnings per share increases by RPI plus 8% per annum for the three financial years ending 31 May 2025.

Following the award, Angela Carus will be interested in 57,098 conditional awards over Shares.

The Plan was established for the purpose of incentivising and retaining the Company's eligible executive management. Shares awarded under the Plan are subject to a performance criteria that requires NWF to meet a minimum reported basic earnings per share target over a three year period. The Remuneration Committee has responsibility for determining the award of Shares and the performance targets under the Plan. 

 

Rob Andrew, Group Company Secretary Reg Hoare/Catherine Chapman Mike Bell/Ed Allsopp NWF Group plc MHP Communications Peel Hunt LLP (Nominated Adviser and Broker) Tel: [phone] Tel: [phone] Tel: [phone]

The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:

:

1.	De t a il s of the person discharging managerial responsibilities / person closely associated
a.	Na me	Richard Whiting
2.	Reaso n for the notification
a.	Po siti on /st a t us	Chief Executive
b.	I n i t ial notification / A m end m ent	I n i t ial
3.	De t a il s of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Na me	NW F Group plc
b.	LEI	21 3 8 0 0AR R ZN N 1W VZ9M70
4.	De t a il s of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type oftransaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	De scri p ti on of the Financial instrument, type of instrument I den t ific a ti on code	O r d i na ry shares of 25p in the Company GB00 065 23 608
b.	Na t u re   of   the transaction	Award of options under the Company's Share Option Plan
c.	P ric e ( s)   and volume(s)
			P ric e ( s)	Vo l u m e ( s)
			0p	138,478
d.	Agg re ga t ed i n f o r m a t i on •  Aggregatedvolume •  Price
e.	Da te of the transaction	31 January 2023
f.	P l a ce   of   the transaction	Outside a trading venue

1.	De t a il s of the person discharging managerial responsibilities / person closely associated
a.	Na me	Christopher Belsham
2.	Reaso n for the notification
a.	Po siti on /st a t us	Group Finance Director
b.	I n i t ial notification / A m end m ent	I n i t ial
3.	De t a il s of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Na me	NW F Group plc
b.	LEI	21 3 8 0 0AR R ZN N 1W VZ9M70
4.	De t a il s of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type oftransaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	De scri p ti on of the Financial instrument, type of instrument I den t ific a ti on code	O r d i na ry shares of 25p in the Company GB00 065 23 608
b.	Na t u re   of   the transaction	Award of options under the Company's Share Option Plan
c.	P ric e ( s)   and volume(s)
			P ric e ( s)	Vo l u m e ( s)
			0p	83,261
d.	Agg re ga t ed i n f o r m a t i on •  Aggregatedvolume •  Price
e.	Da te of the transaction	31 January 2023
f.	P l a ce   of   the transaction	Outside a trading venue

1.	De t a il s of the person discharging managerial responsibilities / person closely associated
a.	Na me	Rob Andrew
2.	Reaso n for the notification
a.	Po siti on /st a t us	Company Secretary
b.	I n i t ial notification / A m end m ent	I n i t ial
3.	De t a il s of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Na me	NW F Group plc
b.	LEI	21 3 8 0 0AR R ZN N 1W VZ9M70
4.	De t a il s of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type oftransaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	De scri p ti on of the Financial instrument, type of instrument I den t ific a ti on code	O r d i na ry shares of 25p in the Company GB00 065 23 608
b.	Na t u re   of   the transaction	Award of options under the Company's Share Option Plan
c.	P ric e ( s)   and volume(s)
			P ric e ( s)	Vo l u m e ( s)
			0p	62,500
d.	Agg re ga t ed i n f o r m a t i on •  Aggregatedvolume •  Price
e.	Da te of the transaction	31 January 2023
f.	P l a ce   of   the transaction	Outside a trading venue

1.	De t a il s of the person discharging managerial responsibilities / person closely associated
a.	Na me	Andrew Downie
2.	Reaso n for the notification
a.	Po siti on /st a t us	Managing Director Feeds
b.	I n i t ial notification / A m end m ent	I n i t ial
3.	De t a il s of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Na me	NW F Group plc
b.	LEI	21 3 8 0 0AR R ZN N 1W VZ9M70
4.	De t a il s of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type oftransaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	De scri p ti on of the Financial instrument, type of instrument I den t ific a ti on code	O r d i na ry shares of 25p in the Company GB00 065 23 608
b.	Na t u re   of   the transaction	Award of options under the Company's Share Option Plan
c.	P ric e ( s)   and volume(s)
			P ric e ( s)	Vo l u m e ( s)
			0p	59,429
d.	Agg re ga t ed i n f o r m a t i on •  Aggregatedvolume •  Price
e.	Da te of the transaction	31 January 2023
f.	P l a ce   of   the transaction	Outside a trading venue

1.	De t a il s of the person discharging managerial responsibilities / person closely associated
a.	Na me	Angela Carus
2.	Reaso n for the notification
a.	Po siti on /st a t us	Managing Director Food
b.	I n i t ial notification / A m end m ent	I n i t ial
3.	De t a il s of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Na me	NW F Group plc
b.	LEI	21 3 8 0 0AR R ZN N 1W VZ9M70
4.	De t a il s of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type oftransaction; (iii) each date; and (iv) each place where transactions have been conducted
a.	De scri p ti on of the Financial instrument, type of instrument I den t ific a ti on code	O r d i na ry shares of 25p in the Company GB00 065 23 608
b.	Na t u re   of   the transaction	Award of options under the Company's Share Option Plan
c.	P ric e ( s)   and volume(s)
			P ric e ( s)	Vo l u m e ( s)
			0p	57,098
d.	Agg re ga t ed i n f o r m a t i on •  Aggregatedvolume •  Price
e.	Da te of the transaction	31 January 2023
f.	P l a ce   of   the transaction	Outside a trading venue

 

END

 

 

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