Grant of Options under LTIP

Churchill China PLC
24 May 2024
 

For immediate release

24 May 2024

 

A logo with a lion head in a circle Description automatically generated

 

CHURCHILL CHINA plc

("Churchill" or the "Company" or the "Group")

 

Grant of Options under LTIP

Churchill China plc (AIM: CHH), the manufacturer of innovative performance ceramic products serving hospitality markets worldwide, announces that on 24 May 2024, the following options over 10p ordinary shares in the Company ("Ordinary Shares") were granted to persons discharging managerial responsibilities ("PDMRs") under the Churchill China Long Term Incentive Plan ("CCLTIP") (the "Grants"):

Director

Position

Number of Options Over Ordinary Shares granted

Exercise Price

Market Price at Date of Grant

David O'Connor

Chief Executive Officer

32,191

10p

1,085p

James Roper

Sales and Marketing Director

24,969

10p

1,085p

Michael Cunningham

Chief Financial Officer

20,704

10p

1,085p

Marc Sinclair

Company Secretary

5,862

10p

1,085p

In addition, 49,919 Grants were made to employees who are non-PDMRs.

The Grants are subject to the achievement of performance criteria as specified by the Remuneration Committee and are subject to claw back provisions in certain circumstances. The performance conditions require that the Company's adjusted (pre-exceptional items and adjusted for pension interest charges and credits) earnings per share ("Adjusted EPS") for the financial year ending 31 December 2026 reaches the following figures for each level of vesting:

Adjusted EPS for year ending 31 December 2026

% of Grant that Vests

78.9p

25%

87.6p

40%

92.0p

100%

Between these target levels, share options will vest on a straight-line basis and shares will vest, subject to the achievement of these performance conditions, from 22 May 2027.

 

 

For further information, please contact:

 

Churchill China plc

Tel: 01782 577566

David O'Connor / James Roper / Michael Cunningham




Buchanan

Tel: 020 7466 5000

Mark Court / Sophie Willis / Abigail Gilchrist


ChurchillChina@buchanan.uk.com


 


Investec

Tel: 020 7597 5970

David Flin / Oliver Cardigan / William Brinkley

 


 

 

 

 

Notification and public disclosure of transactions by Persons Discharging Managerial Responsibilities ("PDMR") and persons closely associated with them ("PCA")

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

Michael Cunningham

2

Reason for notification


a.

Position/Status

Chief Financial Officer

 

b.

Initial notification/

Amendment

Initial Notification

3

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

a.

Name

Churchill China plc

b.

LEI

213800GQ51I4LZQ5AR09

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 10p each

ISIN: GB0001961035

b.

Nature of the transaction

Grant of options

c.

Price(s) and volume(s)

 

 

 

 

Price(s)

Volume(s)

10p

20,704


d.

Aggregated information

 N/A - Single Transaction

e.

Date of the transaction

24/5/2024

f.

Place of the transaction

Off market

 

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

David O'Connor

2

Reason for notification


a.

Position/Status

Chief Executive Officer

b.

Initial notification/

Amendment

Initial Notification

3

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

a.

Name

Churchill China plc

b.

LEI

213800GQ51I4LZQ5AR09

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 10p each

ISIN: GB0001961035

b.

Nature of the transaction

Grant of Options

c.

Price(s) and volume(s)

 

 

 

 

 

Price(s)

Volume(s)

10p

32,191


d.

Aggregated information

 

 N/A - Single Transaction

e.

Date of the transaction

24/5/2024

f.

Place of the transaction

Off market

 

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

James Roper

2

Reason for notification


a.

Position/Status

Sales and Marketing Director

 

b.

Initial notification/

Amendment

Initial Notification

3

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

a.

Name

Churchill China plc

b.

LEI

213800GQ51I4LZQ5AR09

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 10p each

ISIN: GB0001961035

b.

Nature of the transaction

Grant of Options

c.

Price(s) and volume(s)

 

-    Transaction 1

 

 

 

Price(s)

Volume(s)

10p

24,969


d.

Aggregated information

 

 N/A - Single Transaction

e.

Date of the transaction

24/5/2024

f.

Place of the transaction

Off market

 

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

Marc Sinclair

2

Reason for 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

Churchill China plc

b.

LEI

213800GQ51I4LZQ5AR09

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 10p each

ISIN: GB0001961035

b.

Nature of the transaction

Grant of Options

c.

Price(s) and volume(s)

 

-    Transaction 1

 

 

 

Price(s)

Volume(s)

10p

5,862


d.

Aggregated information

 N/A - Single Transaction

e.

Date of the transaction

24/5/2024

f.

Place of the transaction

Off market

 

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