Last checked at 30 May 2017 11:53
LUCECO PLC (THE "COMPANY")
GRANT OF AWARDS UNDER PERFORMANCE SHARE PLAN
The Company announces that awards have been granted to the following Persons Discharging Managerial Responsibility ("PDMRs") under the Luceco 2017 Performance Share Plan ("PSP"), which was approved by shareholders at the Company's AGM held on 25 May 2017.
Each of the following PDMRs have been granted awards in the form of nil-cost options over the number of ordinary shares of 0.05 pence in the Company under the terms of the PSP as set out below:
PDMR | Role | Number of shares awarded |
John Hornby | Chief Executive Officer | 140,959 |
David Main | Chief Financial Officer | 70,479 |
Wayne Hill | Group Commerical Director | 35,240 |
Ian Pritchard | Company Secretary | 23,645 |
John Williams | Group Specification Director | 25,373 |
In addition each PDMR has been awarded a linked tax qualifying option over 12,082 shares at an exercise price of £2.483. On exercise the number of shares under the nil-cost option will be reduced proportionally to take account of any gain on the exercise of the tax qualifying option such that the PDMR will not receive a greater number of shares than is subject to the nil-cost option.
The awards will vest subject to the satisfaction of performance conditions measuring the Company's earnings per share and total shareholder return performance. The extent to which awards will vest will depend on the extent to which the performance conditions are satisfied over the performance period, which runs from 1 January 2017 to 31 December 2019. No consideration was paid for any of the awards
This notification is made in accordance with the Market Abuse Regulation ("MAR"). Template notifications required by the MAR are attached to this announcement.
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | 1. John Hornby 2. David Main 3. Wayne Hill 4. Ian Pritchard 5. John Williams | |
2 | Reason for the notification | ||
a) | Position/status | 1. PDMR 2. PDMR 3. PDMR 4. PDMR 5. PDMR | |
b) | Initial notification/Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name | Luceco PLC | |
b) | LEI | 213800BBFZK4W4P98U76
| |
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 | Ordinary shares of £0.0005 each ISIN: GB00BZC0LP49 | |
b) | Nature of transaction | 1,2,3,4 and 5 - An award of Ordinary Shares made under the Luceco PLC Performance Share Plan ("PSP") on 25 May 2017. | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
|
| 1. £2.483 2. £2.483 3. £2.483 4. £2.483 5. £2.483 | 1. 140,959 2. 70,479 3. 35,240 4. 23,645 5. 25,373 |
d) | Aggregated information - Aggregated volume - Price |
N/A (Single transaction) | |
e) | Date of the transaction | 25 May 2017 | |
f) | Place of the transaction | Outside a trading venue | |
ENDS
For further information, contact David Main, Chief Financial Officer 01952 238100