1 Jul 2021 16:04
| 1 July 2021 |
This announcement contains inside information.
BELVOIR! BELVOIR GROUP PLC
(the "Company", the "Group" or "Belvoir")
New Long-Term Incentive Plan
Belvoir Group PLC (AIM:BLV), a leading UK property franchise group, today announces that it has granted nil cost options over 635,183 new ordinary shares in the Company to its Executive Directors and members of its senior management team under the Belvoir Group Performance Share Plan. The awards reflect their roles and responsibilities in determining and executing the Group strategic growth plans and are intended to retain and incentivise the executive directors and senior management team accordingly.
The awards will be 100% subject to an EPS Performance Condition: diluted earnings per share ("EPS"), adjusted to exclude exceptional items over the three years to 31 December 2023.
A floor of 16.9p per share and a cap of 22.2p per share applies to the EPS Performance Condition; these represent growth over the three years of 15.8% and 52.1% respectively. Where performance is below the floor, no options will vest; where performance is at the floor, 25% of the options will vest; and where performance is at or above the cap, 100% will vest. Straight-line vesting applies between the floor and the cap.
The maximum awards for directors and PDMRs are stated below:
Name Position Number of shares
subject to awards
Dorian Gonsalves Chief Executive Officer, Belvoir Group PLC 247,347
Louise George Chief Finance Officer, Belvoir Group PLC 207,122
Mark Newton Executive Director, Belvoir Group PLC 103,041
Michelle Brook Managing Director, Brook Financial Services Ltd 9,527
Philip Gee Managing Director, Northwood GB Limited 8,327
David Spackman Manging Director, Newton Fallowell Limited 6,531
Ian Maclean Franchise Director, Belvoir Property Management (UK) Limited 6,531
Tim Wood Financial Services Director, Brook Financial Services Ltd 4,580
Julie Wilson Group Financial Controller, Belvoir Group PLC 5,094
Immediately prior to these awards the Company's issued share capital was 36,231,162 ordinary shares and there were outstanding EMI options of 335,000, CSOP options of 334,589 and LTIP options of 644,727.
Further details on these grants are included in the notifications below, made in accordance with the requirements of the EU Market Abuse Regulation which is part of English law by virtue of the European Union (Withdrawal) Act 2018.
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 | Dorian Gonsalves | Louise George | ||
2 | Reason for notification |
| |||
a. | Position/Status | Chief Executive Officer,Belvoir Group PLC | Chief Financial Officer,Belvoir Group PLC | ||
b. | Initial notification/ Amendment | Initial Notification | Initial Notification | ||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a. | Name | Belvoir Group PLC | Belvoir Group PLC | ||
b. | LEI | N/A | N/A | ||
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 instrumentIdentification Code | Ordinary Shares of 1 pence each
ISIN: GB00B4QY1P51
| Ordinary Shares of 1 pence each
ISIN: GB00B4QY1P51
| ||
b. | Nature of the transaction | Grant of nil cost options | Grant of nil cost options | ||
c. | Price(s) and volume(s) | Over Company's shares | Over Company's shares | ||
Price 1 pence each | Volume 247,347 | Price 1 pence each | Volume 207,122 | ||
d. | Aggregated information - Aggregated Volume
- Price | n/a
n/a |
n/a
n/a | ||
e. | Date of the transaction | 30 June 2021 | 30 June 2021 | ||
f. | Place of the transaction | London Stock Exchange | London Stock Exchange | ||
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 Newton | Michelle Brook | ||
2 | Reason for notification |
| |||
a. | Position/Status | Executive Director,Belvoir Group PLC | Managing Director,Brook Financial Services Ltd | ||
b. | Initial notification/ Amendment | Initial Notification | Initial Notification | ||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a. | Name | Belvoir Group PLC | Belvoir Group PLC | ||
b. | LEI | N/A | N/A | ||
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 instrumentIdentification Code | Ordinary Shares of 1 pence each
ISIN: GB00B4QY1P51
| Ordinary Shares of 1 pence each
ISIN: GB00B4QY1P51
| ||
b. | Nature of the transaction | Grant of nil cost options | Grant of nil cost options | ||
c. | Price(s) and volume(s) | Over Company's shares | Over Company's shares | ||
Price 1 pence each | Volume 103,041 | Price 1 pence each | Volume 9,527 | ||
d. | Aggregated information - Aggregated Volume
- Price | n/a
n/a |
n/a
n/a | ||
e. | Date of the transaction | 30 June 2021 | 30 June 2021 | ||
f. | Place of the transaction | London Stock Exchange | London Stock Exchange | ||
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 | Philip Gee | David Spackman | ||
2 | Reason for notification |
| |||
a. | Position/Status | Managing Director,Northwood GB Limited | Managing Director,Newton Fallowell Limited | ||
b. | Initial notification/ Amendment | Initial Notification | Initial Notification | ||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a. | Name | Belvoir Group PLC | Belvoir Group PLC | ||
b. | LEI | N/A | N/A | ||
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 instrumentIdentification Code | Ordinary Shares of 1 pence each
ISIN: GB00B4QY1P51
| Ordinary Shares of 1 pence each
ISIN: GB00B4QY1P51
| ||
b. | Nature of the transaction | Grant of nil cost options | Grant of nil cost options | ||
c. | Price(s) and volume(s) | Over Company's shares | Over Company's shares | ||
Price 1 pence each | Volume 8,327 | Price 1 pence each | Volume 6,531 | ||
d. | Aggregated information - Aggregated Volume
- Price | n/a
n/a |
n/a
n/a | ||
e. | Date of the transaction | 30 June 2021 | 30 June 2021 | ||
f. | Place of the transaction | London Stock Exchange | London Stock Exchange | ||
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 | Ian Maclean | Tim Wood | ||
2 | Reason for notification |
| |||
a. | Position/Status | Franchise Director,Belvoir Property Management (UK) Limited | Financial Services Director,Brook Financial Services Ltd | ||
b. | Initial notification/ Amendment | Initial Notification | Initial Notification | ||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a. | Name | Belvoir Group PLC | Belvoir Group PLC | ||
b. | LEI | N/A | N/A | ||
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 instrumentIdentification Code | Ordinary Shares of 1 pence each
ISIN: GB00B4QY1P51
| Ordinary Shares of 1 pence each
ISIN: GB00B4QY1P51
| ||
b. | Nature of the transaction | Grant of nil cost options | Grant of nil cost options | ||
c. | Price(s) and volume(s) | Over Company's shares | Over Company's shares | ||
Price 1 pence each | Volume 6,531 | Price 1 pence each | Volume 4,580 | ||
d. | Aggregated information - Aggregated Volume
- Price | n/a
n/a |
n/a
n/a | ||
e. | Date of the transaction | 30 June 2021 | 30 June 2021 | ||
f. | Place of the transaction | London Stock Exchange | London Stock Exchange | ||
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 | Julie Wilson |
| ||
2 | Reason for notification |
| |||
a. | Position/Status | Group Financial Controller,Belvoir Group PLC |
| ||
b. | Initial notification/ Amendment | Initial Notification |
| ||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a. | Name | Belvoir Group PLC |
| ||
b. | LEI | N/A |
| ||
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 instrumentIdentification Code | Ordinary Shares of 1 pence each
ISIN: GB00B4QY1P51
|
| ||
b. | Nature of the transaction | Grant of nil cost options |
| ||
c. | Price(s) and volume(s) | Over Company's shares |
| ||
Price 1 pence each | Volume 5,094 |
|
| ||
d. | Aggregated information - Aggregated Volume
- Price | n/a
n/a |
| ||
e. | Date of the transaction | 30 June 2021 |
| ||
f. | Place of the transaction | London Stock Exchange |
| ||
For further details:
Belvoir Group PLC Dorian Gonsalves, Chief Executive Officer Louise George, Chief Financial Officer www.belvoirgroup.com
| 01476 584900 investorrelations@belvoirgroup.com | |
finnCap Julian Blunt & Teddy Whiley (Corporate Finance) Tim Redfern (ECM) www.finncap.com
| +44 (0) 20 7220 0500 | |
Buchanan Charles Ryland, Victoria Hayns, Kim Looringh-van Beeck & Tilly Abraham | +44 (0) 20 7466 5000 | |
Notes for editors:
About Belvoir Group PLC
Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir operates a nationwide property franchise group with 439 offices across six brands specialising in residential lettings, property management, residential sales and property-related financial services. With its Central Office in Grantham, Lincolnshire, the Group manages over 71,500 properties and reported record revenues of £21.7m in 2020 marking Belvoir's 24th year of unbroken profit growth.
For further information, please visit: www.belvoirgroup.com