Award of Options

RNS Number : 7172W
Wynnstay Group PLC
27 April 2021
 

27 April 2021

AIM: WYN

 

 

 

WYNNSTAY GROUP PLC

("Wynnstay" or "the Company") 

 

Award of Options under the Company's Performance Share Plan

and Share Option Plan

 

 

Wynnstay, the agricultural supplies group, announces  the award of options ("Options") over ordinary shares of 25p each in the Company ("Ordinary Shares") approved under the terms of its established plans, the Wynnstay Performance Share Plan ("PSP") and the Wynnstay Group Approved Company Share Option Plan ("CSOP").

 

The PSP Options offer the recipients the entitlement to acquire a maximum number of Ordinary Shares ("Award Shares") on or after 31 October 2023 at nil cost, subject to the Company achieving the following minimum reported performance criteria:

 

1. 75% of the Award Shares will vest if the Company's earnings per share ("EPS") grows at an annual rate exceeding the rate of growth of the Retail Price Index ("RPI") plus 8%. Where this growth is not met, provided EPS grows at an annual rate of at least RPI plus 1%, 30% of the Award Shares tested under the EPS target will vest. Between these criteria, the Award Shares will vest on a straight-line basis. 

 

2. 25% of the Award Shares will vest if the Company's return on capital employed ("ROCE") increases to at least 12.6% for the financial year ending 31 October 2023. Where this target is not met, provided a minimum ROCE employed of 10% is met, the Award Shares will vest between these two criteria on a straight-line basis. 

The total number of PSP Award Shares over which Options have been granted on 23 April 2021 amounts to 84,728, and included in this grant were Options made to the following executive directors and Company Secretary:

 

Name

 

Title

Maximum number of Award Shares




Mr G.W. Davies

Chief Executive Officer

17,819

Mr B.P. Roberts

Finance Director

14,256

Mrs C.A. Williams

Company Secretary

3,676

In addition, 186,000 Share Options were granted under the CSOP to other employees of the Group on 23 April 2021 at an option price of £4.625.

The Remuneration Committee has responsibility for determining the award of Options and the performance targets under both Plans. 

Enquiries:

 

Wynnstay Group plc

Gareth Davies, Chief Executive

Paul Roberts, Finance Director

T: 1691 827 142




KTZ Communications

Katie Tzouliadis / Dan Mahoney

 

T: 020 3178 6378

Shore Capital (Nomad and Broker)

Stephane Auton / Patrick Castle / John More

T: 020 7408 4090

 

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Gareth Davies

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Director

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

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

 

a)

 

Name

 

 

Wynnstay Group plc

 

b)

 

LEI

 

 

213800TOLA726AITR960

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 25 pence each in the Company ("Ordinary Shares")

 

GB0034212331

 

b)

 

Nature of the transaction

 

 

Award of Options under the Company's Performance Share Plan

 

 

 

 

c)

 

 

 

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

 

Nil

 

 

17,819 Ordinary  Shares

 

d)

 

Aggregated information

 

 

- Aggregated volume

 

 

- Price

 

 

N/A single transaction

e)

 

Date of the transaction

 

 

23/4/2021

f)

 

Place of the transaction

 

 

Outside a trading venue

 

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Bryan Paul Roberts

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Director

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

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

 

a)

 

Name

 

 

Wynnstay Group plc

 

b)

 

LEI

 

 

213800TOLA726AITR960

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 25 pence each in the Company ("Ordinary Shares")

 

GB0034212331

 

b)

 

Nature of the transaction

 

 

Award of Options under the Company's Performance Share Plan

 

 

 

 

c)

 

 

 

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

 

Nil

 

 

14,256 Ordinary  Shares

 

d)

 

Aggregated information

 

 

- Aggregated volume

 

 

- Price

 

 

N/A single transaction

e)

 

Date of the transaction

 

 

23/04/2021

f)

 

Place of the transaction

 

 

Outside a trading venue

 

 

 

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

 

Claire Alexander Williams

2

 

Reason for the notification

 

a)

 

Position/status

 

 

Company Secretary

b)

 

Initial notification /Amendment

 

 

Initial notification

3

 

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

 

a)

 

Name

 

 

Wynnstay Group plc

 

b)

 

LEI

 

 

213800TOLA726AITR960

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 25 pence each in the Company ("Ordinary Shares")

 

GB0034212331

 

b)

 

Nature of the transaction

 

 

Award of Options under the Company's Performance Share Plan

 

 

 

 

c)

 

 

 

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

 

Nil

 

 

3,676 Ordinary  Shares

 

d)

 

Aggregated information

 

 

- Aggregated volume

 

 

- Price

 

 

N/A single transaction

e)

 

Date of the transaction

 

 

23/04/2021

f)

 

Place of the transaction

 

 

Outside a trading venue

 

 

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
 
 
DSHVDLBLFZLLBBK
UK 100

Latest directors dealings