Grant of Options

Property Franchise Group PLC (The)
17 May 2023
 

 17 May 2023

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 255,952 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 2025. Each performance condition will apply to 50% of the awards being made.

 

In respect of adjusted EPS, growth of 20% over the three-year period will be required for threshold vesting of the award (the "collar"), with growth of 42% or higher required for full vesting of the award (the "cap"). In respect of TSR, growth of 48% over the three-year period will be required for threshold vesting of the award (the "collar"), with growth of 72% or higher required for full vesting of the award (the "cap"). Straight-line vesting applies between the collar and the cap for both performance conditions.

 

The maximum awards for directors and PDMRs are stated below:

 

Name

Position

Number of shares subject to awards

Gareth Samples

Chief Executive Officer

109,127

David Raggett

Chief Financial Officer

  63,492

Nick Neill

Managing Director of EweMove

  12,000

 

 

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 2,213,000 ordinary shares.

 

 

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

1.   Gareth Samples

2.   David Raggett

3.   Nick Neill

 

 

2

Reason for the notification

a)

Position/status

 

1.   PDMR, Chief Executive Officer

2.   PDMR, Chief Financial Officer

3.   PDMR, Managing Director of EweMove

 

b)

Initial notification /Amendment

 

Initial Notification

 

3

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

a)

 

Name

 

The Property Franchise Group PLC

b)

 

LEI

 

2138008J5PTJ8C77I535

 

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 1 pence each

 

 

 

ISIN: GB00BH0WFH67 

b)

 

Nature of the transaction

 

Grant of nil cost options over Company's shares

c)

 

Price(s) and volume(s)

 

 

 Price(s)

 

   Volume(s)

1.   1p each

2.   1p each

3.   1p each

 

1. 109,127

2. 63,492

3. 12,000

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

184,619

 

1p each

e)

 

Date of the transaction

 

16 May 2023

f)

 

Place of the transaction

 

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 Joint Broker)

Max Hartley

Tom Diehl

 

 0207 523 8000

 

 

 

Singer Capital Markets (Joint Broker)

Rick Thompson

James Fischer

 

020 7496 3000

 


Alma PR 

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

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UK 100

Latest directors dealings