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2 Aug 2021 09:50
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2 August 2021
HARGREAVES SERVICES PLC
(the "Group" or "Hargreaves")
Share Option Awards to Executive Directors and PDMRs
Hargreaves Services plc (AIM: HSP), a diversified group delivering key projects and services to the industrial and property sectors, announces that a total of 146,532 options ("LTIP Options") were awarded on 2 August 2021 to Gordon Banham, John Samuel and David Anderson (all directors of Hargreaves) and Stephen Barker, Sean Hager and Niall Fraser (all directors of subsidiary companies of the Group and PDMRs) to subscribe for ordinary shares of 10p each pursuant to the Company's Long Term Incentive Plan (Hargreaves Services plc Executive Share Option Scheme). Additionally, Stephen Craigen, PDMR, was awarded a total of 14,820 options ("Deferred LTIP Options") on 2 August 2021 under the Company's 2021 Deferred Share Bonus Scheme J. The awards comprise the following allocations:
G Banham (Group Chief Executive) | 41,611 |
J Samuel (Group Finance Director) | 41,611 |
D Anderson (Group Property Director) | 22,292 |
S Barker (Subsidiary Managing Director) | 16,010 |
S Hager (Subsidiary Managing Director) | 12,880 |
N Fraser (Subsidiary Director) | 12,128 |
S Craigen (Group Financial Controller) | 14,820 |
The LTIP Options are exercisable at an exercise price of 10p per ordinary share from 3 August 2024 but are only exercisable to the extent that certain performance criteria are achieved by the Group over a three year performance period commencing 1 June 2021. The options must be exercised before 2 August 2026.
Following the above option awards, the respective interests of Gordon Banham, John Samuel and David Anderson in the share capital of the Company are as follows:
| Ordinary Shares | % of issued share capital | Vested but unexercised options | Unvested options |
Gordon Banham | 2,646,825 | 8.20% | Nil | 229,682 |
John Samuel | 28,000 | 0.09% | Nil | 229,682 |
David Anderson | 32,775 | 0.10% | Nil | 137,819 |
The Deferred LTIP Options issued to Stephen Craigen will vest on 3 August 2024, subject only to continued employment at that date. These options have a nil cost of exercise and must also be exercised before 2 August 2026.
The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail.
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Gordon Banham |
2 | Reason for the notification | |
a) | Position/status | Chief Executive Officer |
b) | Initial notification /Amendment | Initial |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Hargreaves Services plc |
b) | LEI | 213800O17BER1SHMH466 |
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 | Grant of options over ordinary shares of 10p each in Hargreaves Services plc ISIN: GB00B0MTC970 |
b) | Nature of the transaction | Grant of options over ordinary shares |
c) | Price(s) and volume(s) | 41,611 options at an exercise price of 10p per ordinary share |
d)
| Aggregated information - Aggregated volume - Price | N/A |
e) | Date of the transaction | 2 August 2021 |
f) | Place of the transaction | Off market transaction |
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | John Samuel |
2 | Reason for the notification | |
a) | Position/status | Group Finance Director |
b) | Initial notification /Amendment | Initial |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Hargreaves Services plc |
b) | LEI | 213800O17BER1SHMH466 |
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 | Grant of options over ordinary shares of 10p each in Hargreaves Services plc ISIN: GB00B0MTC970 |
b) | Nature of the transaction | Grant of options over ordinary shares |
c) | Price(s) and volume(s) | 41,611 options at an exercise price of 10p per ordinary share |
d)
| Aggregated information - Aggregated volume - Price | N/A |
e) | Date of the transaction | 2 August 2021 |
f) | Place of the transaction | Off market transaction |
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | David Anderson |
2 | Reason for the notification | |
a) | Position/status | Group Property Director |
b) | Initial notification /Amendment | Initial |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Hargreaves Services plc |
b) | LEI | 213800O17BER1SHMH466 |
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 | Grant of options over ordinary shares of 10p each in Hargreaves Services plc ISIN: GB00B0MTC970 |
b) | Nature of the transaction | Grant of options over ordinary shares |
c) | Price(s) and volume(s) | 22,292 options at an exercise price of 10p per ordinary share |
d)
| Aggregated information - Aggregated volume - Price | N/A |
e) | Date of the transaction | 2 August 2021 |
f) | Place of the transaction | Off market transaction |
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Stephen Barker |
2 | Reason for the notification | |
a) | Position/status | Managing Director |
b) | Initial notification /Amendment | Initial |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Hargreaves Services plc |
b) | LEI | 213800O17BER1SHMH466 |
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 | Grant of options over ordinary shares of 10p each in Hargreaves Services plc ISIN: GB00B0MTC970 |
b) | Nature of the transaction | Grant of options over ordinary shares |
c) | Price(s) and volume(s) | 16,010 options at an exercise price of 10p per ordinary share |
d)
| Aggregated information - Aggregated volume - Price | N/A |
e) | Date of the transaction | 2 August 2021 |
f) | Place of the transaction | Off market transaction |
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Sean Hager |
2 | Reason for the notification | |
a) | Position/status | Managing Director |
b) | Initial notification /Amendment | Initial |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Hargreaves Services plc |
b) | LEI | 213800O17BER1SHMH466 |
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 | Grant of options over ordinary shares of 10p each in Hargreaves Services plc ISIN: GB00B0MTC970 |
b) | Nature of the transaction | Grant of options over ordinary shares |
c) | Price(s) and volume(s) | 12,880 options at an exercise price of 10p per ordinary share |
d)
| Aggregated information - Aggregated volume - Price | N/A |
e) | Date of the transaction | 2 August 2021 |
f) | Place of the transaction | Off market transaction |
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Niall Fraser |
2 | Reason for the notification | |
a) | Position/status | Director |
b) | Initial notification /Amendment | Initial |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Hargreaves Services plc |
b) | LEI | 213800O17BER1SHMH466 |
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 | Grant of options over ordinary shares of 10p each in Hargreaves Services plc ISIN: GB00B0MTC970 |
b) | Nature of the transaction | Grant of options over ordinary shares |
c) | Price(s) and volume(s) | 12,128 options at an exercise price of 10p per ordinary share |
d)
| Aggregated information - Aggregated volume - Price | N/A |
e) | Date of the transaction | 2 August 2021 |
f) | Place of the transaction | Off market transaction |
1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Stephen Craigen |
2 | Reason for the notification | |
a) | Position/status | Group Financial Controller |
b) | Initial notification /Amendment | Initial |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Hargreaves Services plc |
b) | LEI | 213800O17BER1SHMH466 |
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 | Grant of options over ordinary shares of 10p each in Hargreaves Services plc ISIN: GB00B0MTC970 |
b) | Nature of the transaction | Grant of options over ordinary shares |
c) | Price(s) and volume(s) | 14,820 options at an exercise price of Nil p per ordinary share |
d)
| Aggregated information - Aggregated volume - Price | N/A |
e) | Date of the transaction | 2 August 2021 |
f) | Place of the transaction | Off market transaction |
For further details:
Hargreaves Services plc Gordon Banham, Group Chief Executive John Samuel, Group Finance Director
| www.hsgplc.co.uk Tel: 0191 373 4485 |
Walbrook PR (Financial PR & IR) Paul McManus/Lianne Cawthorne
| Tel: 020 7933 8780 or hargreavesservices@walbrookpr.com Mob: 07980 541 893/07584 391 303
|
Singer Capital Markets (NOMAD and Joint Corporate Broker) Sandy Fraser/Justin McKeegan/Rachel Hayes
| Tel: 020 7496 3000 |
Investec (Joint Corporate Broker) Sara Hale/David Anderson/Shalin Bhamra | Tel: 020 7597 5970 |
About Hargreaves Services plc (www.hsgplc.co.uk)
Hargreaves Services plc is a diversified group delivering services to the industrial and property sectors, supporting key industries within the UK and South East Asia. The Company's three business segments are Services, Hargreaves Land and an investment in a German joint venture, Hargreaves Raw Materials Services GmbH (HRMS). Services provides critical support to many core industries including Energy, Environmental, UK Infrastructure and certain manufacturing industries through the provision of materials handling, mechanical and electrical contracting services, logistics and major earthworks. Hargreaves Land is focused on the sustainable development of brownfield sites for both residential and commercial purposes. HRMS trades in specialist commodity markets and owns DK Recycling, a specialist recycler of steel waste material. Hargreaves is headquartered in County Durham and has operational centres across the UK, as well as in Hong Kong and a joint venture in Duisburg, Germany.
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