Grant of Options under LTIP

Churchill China PLC

20 May 2026

 

20 May 2026

Churchill China plc

("Churchill China" or the "Company")

Grant of Options under LTIP

Churchill China plc (AIM: CHH), the manufacturer of innovative performance ceramic products serving hospitality markets worldwide, announces that on 20 May 2026, the following options over 10p Ordinary shares in the Company ("Ordinary Shares") were granted to persons discharging managerial responsibilities ("PDMR's") 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	117,682	10p	310p
James Roper	Sales and Marketing Director	91,280	10p	310p
Michael Cunningham	Chief Financial Officer	75,687	10p	310p
Mark Revill	Chief Operating Officer	22,581	10p	310p

In addition, 116,210 Grants were made to employees who are non-PDMRs.

The Grants for the 3 executive directors, David O'Connor, James Roper and Michael Cunningham 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 2028 reaches the threshold with straight line vesting up to the maximum. For this metric 60% of the available options will vest:

Adjusted EPS for year ending 31 December 2028	% of Grant that Vests
42.4	25%
51.4	100%

A further 20% of the grant will vest on achieving targets on Return on Capital Employed, again these will vest on a straight line basis from threshold to maximum, with no vesting below the threshold level.

Average ROCE in 2028	% of Grant that Vests
9.3%	25%
11.3%	100%

Finally 20% of the grant will vest on achieving targets relating to free cash flow (FCF), threshold will be that FCF exceeds Operating profit over the 3 year period whilst the maximum will be achieved if FCF is 5% over operating profit. Again this will vest on a straight line basis.

Shares will vest subject to the achievement of these performance conditions, from 20 May 2029.

For further information, please contact:

Churchill China plc	Tel: [phone]
David O'Connor / James Roper / Michael Cunningham
Burson Buchanan	Tel: [phone]
Helen Tarbet / Sophie Wills / Abby Gilchrist
[e-mail]
Investec Bank plc (Nominated Adviser and Joint Broker)
David Flin / Maria Gomez de Olea	Tel: [phone]
Panmure Liberum Limited (Joint Broker)	Tel: [phone]
Edward Thomas / John More

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) -     Transaction 1	Price(s) Volume(s) 310.00p 75,687
d.	Aggregated information	N/a Single Transaction
e.	Date of the transaction	20/05/2026
f.	Place of the transaction	Outside of a trading venue

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) -     Transaction 1	Price(s) Volume(s) 310.00p 117,682
d.	Aggregated information	N/a single Transaction
e.	Date of the transaction	20/05/2026
f.	Place of the transaction	Outside of a trading venue

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) 310.00p 91,280
d.	Aggregated information	N/a single Transaction
e.	Date of the transaction	20/05/2026
f.	Place of the transaction	Outside of a trading venue

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	Mark Revill
2	Reason for notification
a.	Position/Status	Chief Operating 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) -     Transaction 1	Price(s) Volume(s) 310.00p 22,581
d.	Aggregated information	N/a Single Transaction
e.	Date of the transaction	20/05/2026
f.	Place of the transaction	Outside of a trading venue

 

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