Churchill China Regulatory News (CHH)

16 May 2016

Churchill China plc

Grant of Options under LTIP

Grant of Share Options

On 16 May 2016, the following options were granted over 10p ordinary shares in the Company ("Ordinary Shares") under the Churchill China Long Term Incentive Plan ("CCLTIP") (the "Grants"):

The Grants are subject to the achievement of performance conditions 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 2018 reaches the following figures for each level of vesting:

Between these target levels, share options will vest on a straight line basis and will vest, subject to the achievement of these performance conditions, from 16 May 2019.

The adjusted EPS for the base year 2015 has been calculated as 38.5p excluding the net effect of pension fund interest charges.

The Grant values represent 40 per cent of current base salary for each participant.

Resultant Holdings

Following Grant of the new options set out above:

David O'Connor will be interested in 41,613 Ordinary Shares representing 0.4 per cent. of the total issued share capital of the Company. David O'Connor also holds options over Ordinary Shares as follows:

David Taylor will be interested in 54,489 Ordinary Shares representing 0.5 per cent. of the total issued share capital of the Company. David Taylor also holds options over Ordinary Shares as follows:

James Roper will be interested in 1,067,500 Ordinary Shares representing 9.7 per cent. of the total issued share capital of the Company. James Roper also holds options over Ordinary Shares as follows:

For further details, please contact: