Last checked at 11 Apr 2023 14:59
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 has, on 6 April 2023, 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. John Hornby's award is conditional upon the grant of a Rule 9 waiver resolution being passed by shareholders at the Company's 2023 Annual General Meeting.
PDMR | Role | Number of shares subject to award |
John Hornby | Chief Executive Officer | 492,956 |
Will Hoy | Chief Financial Officer | 350,561 |
James Hall | Corporate Development Director | 81,767 |
Wayne Hill | Managing Director - Europe | 98,620 |
David Nix | Director of Group Finance | 83,067 |
In addition each PDMR has been awarded a linked tax qualifying option over 48,000 shares at an exercise price of £1.25. 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 continued employment and 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 2023 to 31 December 2025 for the earnings per share performance conditions and for three years from the date of grant for the total shareholder return performance condition. No consideration was paid for any of the awards.
This notification is made in accordance with the requirements of the UK Market Abuse Regulation.
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | John Hornby | |
2 | Reason for the notification | ||
a) | Position/status | 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 | Grant of awards in the form of nil-cost options over ordinary shares of 0.05 pence in the Company | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil
| 492,956 | ||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single transaction) | |
e) | Date of the transaction | 6 April 2023 | |
f) | Place of the transaction | Outside a trading venue (XOFF) | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Will Hoy
| |
2 | Reason for the notification | ||
a) | Position/status | 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 | Grant of awards in the form of nil-cost options over ordinary shares of 0.05 pence in the Company | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil
| 350,561
| ||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single transaction) | |
e) | Date of the transaction | 6 April 2023 | |
f) | Place of the transaction | Outside a trading venue (XOFF) | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | James Hall
| |
2 | Reason for the notification | ||
a) | Position/status | 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 | Grant of awards in the form of nil-cost options over ordinary shares of 0.05 pence in the Company | |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil
| 81,767
| ||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single transaction) | |
e) | Date of the transaction | 6 April 2023 | |
f) | Place of the transaction | Outside a trading venue (XOFF) | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Wayne Hill
| |
2 | Reason for the notification | ||
a) | Position/status | 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 | Grant of awards in the form of nil-cost options over ordinary shares of 0.05 pence in the Company
| |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil
| 98,620 | ||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single transaction) | |
e) | Date of the transaction | 6 April 2023 | |
f) | Place of the transaction | Outside a trading venue (XOFF) | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | David Nix
| |
2 | Reason for the notification | ||
a) | Position/status | 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 | Grant of awards in the form of nil-cost options over ordinary shares of 0.05 pence in the Company
| |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
Nil
| 83,067 | ||
d) | Aggregated information - Aggregated volume - Price |
N/A (Single transaction) | |
e) | Date of the transaction | 6 April 2023 | |
f) | Place of the transaction | Outside a trading venue (XOFF) | |
ENDS
For further information contact Will Hoy, Chief Financial Officer 01952 238100