Last checked at 27 Oct 2017 08:35
27 October 2017
Headlam Group plc
(the "Company")
Grant of award under the Company's 2017 Performance Share Plan ("PSP")
On 26 October 2017, Headlam Group plc granted an award in the form of nil-cost options over 13,413 ordinary shares of 5 pence each in the Company ("Ordinary Shares") to an employee under the Company's 2017 PSP.
The award has been granted subject to performance conditions based on: (1) compound annual growth in Earnings Per Share over a three year performance period starting with 2017 (as regards 80% of the Ordinary Shares subject to the award); and (2) the Company's Total Shareholder Return ("TSR") over that performance period relative to the TSRs of the constituents of the FTSE SmallCap Index (excluding investment trusts) (as regards 20% of the Ordinary Shares subject to the award). The award is subject to a further performance condition that the extent of vesting reflects the overall financial performance of the Company over the performance period.
The award will, ordinarily, vest on the date on which the Company's Remuneration Committee determines the extent to which the performance conditions have been satisfied.
The award will be released so that the participant is entitled to acquire the vested Ordinary Shares following the end of a holding period which shall end on the second anniversary of the vesting date.
Enquiries:
Headlam Group plc | |||
Steve Wilson, Chief Executive Catherine Miles, Director of Communications | Tel: 01675 433 000 Tel: 01675 433 006 | ||
Investec Bank plc (Corporate Broker) | Tel: 020 7597 5970 | ||
Garry Levin / David Flin / Alex Wright | |||
Buchanan (Financial PR and IR) | Tel: 020 7466 5000 | ||
Mark Court / Sophie Wills / Catriona Flint | |||
Notes for Editors:
Headlam is Europe's largest distributor of floorcoverings having grown significantly via organic growth and acquisition since 1992.
Headlam provides the distribution link between suppliers and customers of floorcoverings, providing suppliers with the greatest coverage and customer penetration for their products across the UK and Continental Europe, and customers with the broadest range of products supported by next day delivery.
The Company is engaged with suppliers across 16 countries whose products cover a significant proportion of the floorcoverings market (including carpet, residential vinyl, wood, laminate, luxury vinyl tile, underlay and commercial flooring). The Company's customers are within the residential and commercial sectors and comprise principally independent retailers and flooring contractors.
The Company currently comprises 61 wholly-owned businesses in the UK and Continental Europe each operating under their own trade brand and utilising their individual sales team which achieves a greater reach into the customer base.
Each of the businesses is supported by the Company's centralised and financial resources and extensive distribution network across the UK and Continental Europe that comprises four distribution hubs, 18 distribution centres, 60 trade counters and a corporate showroom.