TIDMLORD
RNS Number : 7102Q
Lords Group Trading PLC
30 June 2022
For immediate release 30 June 2022
Lords Group Trading plc
('Lords', the 'Group' or the 'Company')
Award of Options under LTIP
Vesting of CSOP Shares
Lords, a leading distributor of building materials in the UK,
announces that the Group's Remuneration Committee has approved the
award of options over an aggregate 238,949 Ordinary Shares of 0.5
pence each in the Company ('Ordinary Shares') under the Lords Long
Term Incentive Plan (the 'LTIP') to Chris Day, the Company's Chief
Financial Officer, in the form of both paid and nil cost share
options ('Awards').
The LTIP is part of the Group's incentive arrangements stated at
the time of the Company's IPO in July 2021, recognising the
importance of ensuring that all Directors align closely with the
success of the Group in the medium and long-term. As such, the
Awards are subject to the following performance conditions, subject
to Remuneration Committee discretion.
Award Performance Conditions
The performance target attached to 50 per cent. of the Awards is
based on the Group's adjusted earnings per share ('EPS') achieving
a 5% compound growth rate from FY22 (12 months ended 31 December
2022) to FY24 (12 months ended 31 December 2024).
The performance target attached to the remaining 50 per cent. of
the Awards is based on the Group's total shareholder return ('TSR')
performance, as compared to an AIM index comparator group, from
FY22 to FY24. The TSR element of the Award will not vest if the
Group performs below the median of the comparator group, with the
full Award being made if the Group outperforms the upper quartile
of the comparator group, with option vesting between those two
points on a straight-line basis.
The Awards will vest and be exercisable anytime from 1 April
2025 until 30 June 2027. 179,212 of the options over Ordinary
Shares will have an exercise price of 83.7 pence per Ordinary
Share, with the remaining 59,737 options being nil cost share
options.
Vesting of CSOP Shares
The Company also announces the exercise of options to subscribe
for an aggregate of 3,986,499 new Ordinary Shares which have been
exercised under the Group's existing Company Share Option Plan
('CSOP') which was in place prior to the Group's IPO. As set out in
the Company's Admission Document at the time of the IPO in July
2021, the existing CSOP awards did not vest at IPO and the awards
were instead continued through the IPO reorganisation on terms
similar to those originally set to ensure the ongoing retention of
the CSOP participants. At the time of grant, the CSOP was the
Company's only incentive plan and was implemented with the
intention of retaining the participants and incentivising them to
deliver on the Group's key financial metrics.
Chris Day (Chief Financial Officer) and Tim Holton ( Group
Acquisition and Integration Director ) have exercised CSOP options
over 2,619,835 and 1,366,664 Ordinary Shares, respectively. The
exercise price of the CSOP Options is 0.5 pence per Ordinary Share.
No further options will be granted under this CSOP scheme, however
a number of existing options remain outstanding under the CSOP, per
the Group's Admission Document at IPO, with the number of options
vesting subject to future Group performance conditions.
As a result of the exercise of CSOP options, application has
been made for the 3,986,499 new Ordinary Shares to be admitted to
trading on AIM, and it is expected that Admission will occur at
8.00 a.m. on or around 5 July 2022. Following Admission of the new
Ordinary Shares, the Company's issued ordinary share capital will
comprise 162,511,371 Ordinary Shares, none of which are held in
treasury.
Therefore, following Admission of the new Ordinary Shares, the
total number of Ordinary Shares with voting rights in the Company
will be 162,511,371, which may be used by Shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the Company under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules
- Ends -
FOR FURTHER ENQUIRIES:
Lords Group Trading plc Via Buchanan
Shanker Patel, Chief Executive Officer Tel: +44 (0) 20 7466
5000
Chris Day, Chief Financial Officer
Cenkos Securities plc (Nominated Adviser Tel: +44 (0)20 7397
and Joint Broker) 8900
Ben Jeynes / Max Gould / Dan Hodkinson (Corporate
Finance)
Alex Pollen (Sales)
Berenberg (Joint Broker) Tel: +44 (0)20 3207
Matthew Armitt / Richard Bootle / Ciaran 7800
Walsh
Buchanan Communications Tel: +44 (0) 20 7466
5000
Henry Harrison-Topham / Stephanie Whitmore/ LGT@buchanan.uk.com
Kim Looringh-van Beeck / Abby Gilchrist
The following notifications are intended to satisfy the
Company's obligations under Article 19(3) of the Market Abuse
Regulation.
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Chris Day
------------------------------- --------------------------------------------
2 Reason for notification
------------------------------- --------------------------------------------
a) Position/Status CFO
------------------------------- --------------------------------------------
b) Initial notification/amendment Initial notification
------------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name Lords Group Trading plc
------------------------------- --------------------------------------------
b) LEI 9845009A4D87F1CE5145
------------------------------- --------------------------------------------
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 a) Nil cost share options
financial instrument, b) Options with an exercise price of
type of instrument 83.7 pence per share
and identification c) Shares exercised under the Group's
code CSOP
ISIN: GB00BM9CLS53
------------------------------- --------------------------------------------
b) Nature of transaction Conditional award of new ordinary shares
pursuant to Lords Group LTIP
------------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
a) Nil a) 59,737
b) 83.7 pence b) 179,212
c) 0.5 pence c) 2,619,835
------------------------------- --------------------------------------------
d) Aggregated information n/a
------------------------------- --------------------------------------------
e) Date of transaction 30 June 2022
------------------------------- --------------------------------------------
f) Place of transaction Outside of a trading venue
------------------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
-----------------------------------------------------------------------------
a) Name Tim Holton
------------------------------- --------------------------------------------
2 Reason for notification
------------------------------- --------------------------------------------
a) Position/Status Group Acquisition and Integration Director,
PDMR
------------------------------- --------------------------------------------
b) Initial notification/amendment Initial notification
------------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------
a) Name Lords Group Trading plc
------------------------------- --------------------------------------------
b) LEI 9845009A4D87F1CE5145
------------------------------- --------------------------------------------
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 a) Shares exercised under the Group's
financial instrument, CSOP
type of instrument ISIN: GB00BM9CLS53
and identification
code
------------------------------- --------------------------------------------
b) Nature of transaction Conditional award of new ordinary shares
pursuant to Lords Group LTIP
------------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
a) 0.5 pence a) 1,366,664
------------------------------- --------------------------------------------
d) Aggregated information n/a
------------------------------- --------------------------------------------
e) Date of transaction 30 June 2022
------------------------------- --------------------------------------------
f) Place of transaction Outside of 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
DSHPPURPQUPPGQB
(END) Dow Jones Newswires
June 30, 2022 02:00 ET (06:00 GMT)
Lords Group Trading (LSE:LORD)
過去 株価チャート
から 2 2024 まで 3 2024
Lords Group Trading (LSE:LORD)
過去 株価チャート
から 3 2023 まで 3 2024