LTIP Awards

RNS Number : 8804T
Property Franchise Group PLC (The)
23 July 2020
 

THE PROPERTY FRANCHISE GROUP PLC

 

(the "Company" or the "Group")

 

New Long-Term Incentive Plan

 

The Property Franchise Group , today announces that it has granted options over ordinary shares in the Company to its Chief Executive Officer and Chief Financial Officer under the TPFG Share Option Plan.  These initial awards recognise each of their roles 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; basic earnings per share adjusted for exceptional income/costs and share based payments ("adjusted EPS") and total shareholder return over the 3 years to 31 December 2022. Each performance condition will apply to 50% of the award being made.

 

In respect of both performance conditions, growth of 15% over the three year period will be required for threshold vesting of the awards, with  growth of 35% or higher required for all of the awards to vest.   The shares will be awarded on a sliding scale for growth between 15% and 35%.   None of the awards will vest for adjusted EPS growth below 15% over the period.

 

The maximum awards are stated below.

 

Name  Position  Number of shares

                                                                                                  subject to awards

Gareth Samples  Chief Executive  100,000

David Raggett  Chief Financial Officer  100,000  

 

 

Prior to these awards the Company had outstanding awards granted under this and a prior incentive scheme of 2,179,800 Ordinary Shares of which 64,800 had vested but not been exercised.

 

 

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

100,000

 

1p each

100,000

d)

Aggregatted volume:

 

 

n/a

 

 

n/a

 

 

Price:

 

 

 

n/a

 

 

n/a

 

e)

Date of Transaction:

 

 

23 July 2020

 

23 July 2020

f)

Place of the Transaction

 

Outside a trading venue

 

Outside a trading venue

 

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

 

For further information, please contact:

 

The Property Franchise Group PLC  01202 292829

Gareth Samples, Chief Executive Officer

David Raggett, Chief Financial Officer

 

Cenkos Securities plc   0207 397 8925

Max Hartley (Nomad),

Julian Morse (Sales)

 

Alma PR   020 3772 2500

Susie Hudson                                                       propertyfranchise@almapr.co.uk

Rebecca Sanders-Hewett

 

 

 


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.
 
END
 
 
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