Grant of Options

RNS Number : 3060V
Property Franchise Group PLC (The)
09 August 2022
 

9 August 2022

THE PROPERTY FRANCHISE GROUP PLC

 

(the "Company" or the "Group")

 

Grant of Options

 

The Property Franchise Group PLC, the UK's largest property franchisor, today announces that it has granted nominal cost options over 465,000 ordinary shares in the Company to its Chief Executive Officer, Chief Financial Officer and members of its senior management team under the TPFG Share Option Plan.  These awards recognise each of their roles and responsibilities in developing and implementing the Company's strategic plans and are designed to continue to incentivise them appropriately.

 

The awards will be subject to two performance conditions; adjusted basic earnings per share adjusted for exceptional income/costs, amortisation arising on consolidation and share-based payment charges ("adjusted EPS") and total shareholder return ("TSR") over the 3 years to 31 December 2024. Each performance condition will apply to 50% of the awards being made.

 

In respect of both performance conditions, growth of 20% over the three-year period will be required for threshold vesting of the awards (the "floor"), with growth of 42% or higher in both performance measures required for all of the awards to vest (the "cap"). 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

Gareth Samples

Chief Executive Officer

175,000

David Raggett

Chief Financial Officer

115,000

Kate Randall

Group Marketing & Commercial Director

  22,000

Nick Neill

Managing Director of EweMove

  22,000

 

 

Immediately prior to these awards the Company's issued share capital was 32,041,966 ordinary shares and it had outstanding awards granted under prior incentive schemes of 1,825,500 ordinary shares.

 

The grant of the awards constitutes a related party transaction for the purposes of AIM Rule 13. The independent directors consider, having consulted with the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

 

Further detail is provided below in accordance with Article 19.3 of the EU Market Abuse Regulation.

 

 

1

Details of the person discharging managerial responsibilities/person closely associated.

a)

Name:




Gareth Samples



David Raggett

2

Reason for notification.







a)

Position/Status:



Chief Executive


Chief Financial Officer

b)

Initial Notification/Amendment:


Initial Notification


Initial Notification

3

Details of the issuer, emission allowance market participation, auction platform,


auctioneer or auction monitor.







a)

Name:




The Property Franchise Group PLC


The Property Franchise Group PLC

b)

LEI:




2138008J5PTJ8C77I535

 



2138008J5PTJ8C77I535

 


4

Details of transaction(s);section to berepeated 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:

Ordinary Shares of


Ordinary Shares of






1p each


1peach


Identification code:



ISIN: GB00BH0WFH67


ISIN: GB00BH0WFH67

b)

Nature of transaction:



Grant of nil cost options


Grant of nil cost options






over Company's shares


over Company's shares

c)

Price(s) and volume(s)


Price(s)

Volume(s)


Price(s)

Volume(s)






1p each

175,000


1p each

115,000

d)

Aggregatted volume:



n/a



n/a



Price:




n/a



n/a


e)

Date of Transaction:



9 August 2022


9 August 2022

f)

Place of the Transaction


Outside a trading venue


Outside a trading venue

 

 

1

Details of the person discharging managerial responsibilities/person closely associated.

a)

Name:




Kate Randall



Nick Neill

2

Reason for notification.







a)

Position/Status:



Group Marketing & Commercial Director


Managing Director of EweMove

b)

Initial Notification/Amendment:


Initial Notification


Initial Notification

3

Details of the issuer, emission allowance market participation, auction platform,


auctioneer or auction monitor.







a)

Name:




The Property Franchise Group PLC


The Property Franchise Group PLC

b)

LEI:




2138008J5PTJ8C77I535

 



2138008J5PTJ8C77I535

 


4

Details of transaction(s);section to berepeated 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:

Ordinary Shares of


Ordinary Shares of






1p each


1peach


Identification code:



ISIN: GB00BH0WFH67


ISIN: GB00BH0WFH67

b)

Nature of transaction:



Grant of nil cost options


Grant of nil cost options






over Company's shares


over Company's shares

c)

Price(s) and volume(s)


Price(s)

Volume(s)


Price(s)

Volume(s)






1p each

22,000


1p each

22,000

d)

Aggregatted volume:



n/a



n/a



Price:




n/a



n/a


e)

Date of Transaction:



9 August 2022


9 August 2022

f)

Place of the Transaction


Outside a trading venue


Outside a trading venue

 

 

For further information, please contact:

 

 

The Property Franchise Group PLC  

Gareth Samples, Chief Executive Officer

David Raggett, Chief Financial Officer

 01202 405549

 

 

 

 

Canaccord Genuity Limited (Nominated Adviser and Broker)

Max Hartley

Tom Diehl

 

  0207 523 8000

 

 

 

Alma PR 

Susie Hudson

Justine James

Joe Pederzolli

 

 0203 405 0209


 

About The Property Franchise Group PLC:

 

The Property Franchise Group PLC (AIM: TPFG) is the largest property franchisor in the UK and manages the second largest estate agency network and portfolio of lettings properties in the UK.

 

The Company was founded in 1986 and has since grown to a diverse portfolio of nine brands operating throughout the UK, comprising longstanding high-street focused brands and a hybrid, no sale no fee agency.

 

The Property Franchise Group's brands are Martin & Co, EweMove, Hunters, CJ Hole, Ellis & Co, Parkers, Whitegates, Mullucks & Country Properties.

 

Headquartered in Bournemouth, UK, the Company was listed on AIM on the London Stock Exchange in 2013. More information is available at  www.propertyfranchise.co.uk

 

 

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