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25 Jan 2024 10:12
Brickability Group PLC
LEI: 213800SK28MWXB3K3P26
25 January 2024
Brickability Group plc
(the "Company" or the "Group")
Grant of Options
Brickability Group plc (AIM: BRCK), the leading construction materials distributor, announces that on 24 January 2024 it awarded a total of 4,451,604 options to subscribe for new ordinary shares in the Company under the Brickability Group plc Long Term Incentive Plan ("LTIP") 2019. Of these, 2,337,903 are conditional performance related options and include the following options that were granted to Directors and PDMR's ("Management Options").
Director/PDMR | Number of LTIP Options |
Mike Gant - Director | 658,970 |
Paul Hamilton - PDMR | 500,000 |
Andrew Wilson - PDMR | 152,070 |
Kenny Hirst-Sewell - PDMR | 360,679 |
The Management Options are exercisable on the same terms as previous options granted under the Company's LTIP, being exercisable at the nominal price of £0.01 and have vesting conditions tied to adjusted EBITDA and total shareholder return, with each award split equally between the two performance conditions. Vesting will occur on a straight-line basis on achieving 18% (equivalent to 6% annually) to 30% (equivalent to 10% annually) of the relevant performance condition over the performance period. There is no vesting if the relevant target is not met but a 25% vesting if the initial 18% hurdle is met with a proportionate additional vesting up to 100% if the 30% threshold is met. To the extent vested, the options will be subject to a two-year holding period following the expiry of the performance period. The performance period will be 1 April 2023 to 31 March 2026.
The balance of the options awarded (being 2,113,701) are restricted share options which are being issued to a broad number of Group employees outside of the senior management team. These are not subject to performance conditions or the additional holding period but, as with all options awarded under the plan, require that grantees remain in the Group's employment for the duration of the vesting period being the period from 1 April 2023 to 31 March 2026.
Enquiries:
Brickability Group PLC |
via Montfort Communications |
John Richards, Chairman Alan Simpson, Chief Executive Officer | |
Mike Gant, Chief Financial Officer
| |
Cavendish Capital Markets (Nominated Adviser and Broker) Ben Jeynes, George Lawson (Corporate Finance) Julian Morse, Michael Johnson, Charlie Combe (Sales & ECM)
Montfort Communications James Olley Ella Henderson
| +44 (0) 207 220 0500
+44 (0) 203 514 0897 brickability@montfort.london |
About Brickability
Brickability is a leading construction materials distributor, serving customers across the UK and Europe for over 37 years through its national and local networks. The Group operates from more than 70 locations across the country with over 700 employees. |
The Company makes the following disclosures in accordance with article 19(3) of the Market Abuse Regulation:
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Mike Gant | ||||||
2 | Reason for the 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 | Brickability Group plc | ||||||
b) | LEI | 213800SK28MWXB3K3P26 | ||||||
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 | Options for ordinary shares exercisable at £0.01 GB00BK63S759 | ||||||
b) | Nature of the transaction | Grant of options | ||||||
c)
| Price(s) and volume(s)
|
| ||||||
d) | Aggregated information - Aggregated volume - Price |
n/a | ||||||
e) | Date of the transaction | 24 January 2024 | ||||||
f) | Place of the transaction | n/a | ||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Paul Hamilton | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR | ||||||
b) | Initial notification /Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Brickability Group plc | ||||||
b) | LEI | 213800SK28MWXB3K3P26 | ||||||
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 | Options for ordinary shares exercisable at £0.01 GB00BK63S759 | ||||||
b) | Nature of the transaction | Grant of options | ||||||
c)
| Price(s) and volume(s)
|
| ||||||
d) | Aggregated information - Aggregated volume - Price |
n/a | ||||||
e) | Date of the transaction | 24 January 2024 | ||||||
f) | Place of the transaction | n/a | ||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Andrew Wilson | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR | ||||||
b) | Initial notification /Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Brickability Group plc | ||||||
b) | LEI | 213800SK28MWXB3K3P26 | ||||||
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 | Options for ordinary shares exercisable at £0.01 GB00BK63S759 | ||||||
b) | Nature of the transaction | Grant of options | ||||||
c)
| Price(s) and volume(s)
|
| ||||||
d) | Aggregated information - Aggregated volume - Price |
n/a | ||||||
e) | Date of the transaction | 24 January 2024 | ||||||
f) | Place of the transaction | n/a | ||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Kenny Hirst-Sewell | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR | ||||||
b) | Initial notification /Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Brickability Group plc | ||||||
b) | LEI | 213800SK28MWXB3K3P26 | ||||||
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 | Options for ordinary shares exercisable at £0.01 GB00BK63S759 | ||||||
b) | Nature of the transaction | Grant of options | ||||||
c)
| Price(s) and volume(s)
|
| ||||||
d) | Aggregated information - Aggregated volume - Price |
n/a | ||||||
e) | Date of the transaction | 24 January 2024 | ||||||
f) | Place of the transaction | n/a | ||||||
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