12 Sep 2019 15:26
12 September 2019
Carpetright plc (the "Company")
GRANT OF OPTIONS UNDER THE 2013 LONG TERM INCENTIVE PLAN ("the Plan")
Following approval of the revised remuneration policy at the Annual General Meeting on 5 September 2019 restricted share unit awards under the Plan were made today. Under the scheme the Options have a nil Option price to acquire ordinary shares in the capital of the Company.
Name | Director/PDMR | Total no. of shares |
|
|
|
W Walsh | Director | 894,604 |
J Simpson | Director | 454,773 |
The Directors are entitled to a Dividend Equivalent on their Award in respect of its Vested Shares.
Each award comprises three distinct parts ("Part A", "Part B" and "Part C" respectively) in respect of such number of ordinary shares in the capital as shown for each Director as follows:
Name | Director/PDMR | No. of shares comprised with Part A | No. of shares comprised with Part B | No. of shares comprised with Part C | Total no. of shares |
|
|
|
|
|
|
W Walsh | Director | 447,302 | 223,651 | 223,651 | 894,604 |
J Simpson | Director | 227,387 | 113,693 | 113,693 | 454,773 |
Each award will vest as follows:
·; the third anniversary of the Grant Date in respect of each Part A;
·; the fourth anniversary of the Grant Date in respect of each Part B; and
·; the fifth anniversary of the Grant Date in respect of each Part C.
A Holding Period applies in respect of Part A and Part B of each Award as follows:
·; the second anniversary of the date of Vesting in respect of each Part A; and
·; the first anniversary of the date of Vesting in respect of each Part B.
The awards are subject to three underpins. The Remuneration Committee (the "Committee") retains discretion to reduce the number of Shares that would otherwise Vest under an Award (including to nil) in the event that one or more of the following circumstances arise:
·; the average of the closing middle market quotations for Shares (as derived from the London Stock Exchange Daily Official List or otherwise) during the one-month period ending with the last dealing day before the date the relevant Award Vest is less 28p;
·; in the reasonable opinion of the Committee (including regard to direct customer feedback using the "Do We Measure Up?" programme as relevant) there has not been an appropriate improvement in customer satisfaction between the grant of the Award and the date of its Vesting; and/or
·; in the reasonable opinion of the Committee (including regard to quality of earnings, the debt position and covenant compliance and headroom) the Company is not of sound financial footing as at the date of the Vesting of the Award.
Any such reduction shall be made to such extent and at such time or times as the Committee considers appropriate.
No Holding Period applies to other Parts or Awards. The Awards on Vesting are subject to a value cap, which is a percentage of the Directors salary at the date of the grant.
Formal notification of the dealings is set out below:
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name | Wilf Walsh | |||
2
| Reason for the notification | ||||
a)
| Position/status | Chief Executive | |||
b)
| Initial notification /Amendment | Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Carpetright plc | |||
b)
| LEI
| 213800GO32BSNNHXID90 | |||
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 | Ordinary Shares | |||
|
| ||||
Identification code | GB0001772945 | ||||
|
| ||||
b)
| Nature of the transaction
| Grant of options under the Long Term Incentive Plan | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Option Price(s) | Volume(s) |
| |
|
| £0 | 894,604 |
| |
|
|
|
|
| |
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | 894,604 | ||||
|
| ||||
- Price | Option price £0 | ||||
|
| ||||
e)
| Date of the transaction
| 12 September 2019 | |||
f)
| Place of the transaction | Outside a trading venue | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name | Jeremy Simpson | |||
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
| Carpetright plc | |||
b)
| LEI
| 213800GO32BSNNHXID90 | |||
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 | Ordinary Shares | |||
|
| ||||
Identification code | GB0001772945 | ||||
|
| ||||
b)
| Nature of the transaction
| Grant of options under the Long Term Incentive Plan | |||
c)
| Price(s) and volume(s) |
|
|
|
|
|
| Option Price(s) | Volume(s) |
| |
|
| £0 | 454,773 |
| |
|
|
| |||
d)
| Aggregated information |
| |||
|
| ||||
- Aggregated volume | 454,773 | ||||
|
| ||||
- Price | Option price £0 | ||||
|
| ||||
e)
| Date of the transaction
| 12 September 2019 | |||
f)
| Place of the transaction | Outside a trading venue | |||
Z Rayner
01708 802000