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Last checked at 
19 Aug 2019 13:41
19 August 2019
Billington Holdings Plc
("Billington", the "Group" or the "Company")
Long Term Incentive Plan
The Company confirms today that its Remuneration Committee (the "Committee") has agreed a Long Term Incentive Plan (the "Plan" or "LTIP") in which the Committee can award ordinary shares to employees pursuant to terms of the Plan. The Company has worked with its professional advisors to ensure that this Plan is consistent with best practice in terms of structure and quantum.
Details of the Plan
No awards under the Plan shall be granted which would, at the time of grant, cause the number of shares granted, when added to the number of shares allocated in the previous 10 years to exceed such 10 per cent of the ordinary share capital of the Company in issue at that time.
The number of shares in respect of which awards may be granted to any person in any Financial Year shall not exceed such number as has a market value equal to one times the individual's salary or such other limit as the Remuneration Committee may, in exceptional circumstances, determine and which in any event shall not exceed such number of Shares as has a market value equal to two times salary.
In calculating the award to individuals, the market value of shares subject to an award shall be taken to be the middle-market quotation of such shares on the Dealing Day last preceding the award date.
The objective of the Plan is to ensure that the strategic objectives of the company align with those of the senior management and that the structure of the overall remuneration package assists in maximising shareholder value. Performance criteria related to the improvement in the trading performance of the Company are applicable to the award of shares. The full award of shares shall only be made should progression in Earnings per Share (EPS) be equal to or greater than 20% per annum over a three year horizon period.
Awards under the Plan
The following awards of ordinary shares have been made in this round of the Plan:
Name | Position | Ordinary share options granted under the Plan | Total direct shareholding in BILN | Total % direct Shareholding in BILN | Total number of options held | Total Potential % Shareholding including options |
Mark Smith | Chief Executive Officer | 68,966 | 5,000 | 0.039% | 115,508 | 0.89% |
Trevor Michael Taylor | Finance Director | 51,724 | 6,000 | 0.046% | 95,802 | 0.74% |
These shares will be satisfied from the Billington Holdings Plc Employee Share Ownership Trust and it is not anticipated any new shares will be issued to satisfy the award of shares under the Plan.
The following notifications, made in accordance with the requirements of the EU Market Abuse Regulation, gives further details.
For further information please contact:
Billington Holdings Plc Tel: 01226 340 666
Mark Smith, Chief Executive
Trevor Taylor, Finance Director
WH Ireland Limited Tel: 020 7220 1666
Chris Hardie
James Sinclair-Ford
Jasper Berry
IFC Advisory Limited Tel: 020 3934 6630
Tim Metcalfe
Miles Nolan
Zach Cohen
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Mark Smith | ||||
2 | Reason for the 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 | Billington Holdings Plc | ||||
b) | LEI | 213800MUHLXWQQ6MEN67 | ||||
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
GB0000332667 | ||||
b) | Nature of the transaction | Award under Long Term Incentive Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
68,966 Nil | ||||
e) | Date of the transaction | 19 August 2019 | ||||
f) | Place of the transaction | Off Market | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Trevor Michael Taylor | ||||
2 | Reason for the notification | |||||
a) | Position/status | Finance Director | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Billington Holdings Plc | ||||
b) | LEI | 213800MUHLXWQQ6MEN67 | ||||
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
GB0000332667 | ||||
b) | Nature of the transaction | Award under Long Term Incentive Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
51,724 Nil | ||||
e) | Date of the transaction | 19 August 2019 | ||||
f) | Place of the transaction | Off Market | ||||
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