14 Jun 2016 08:09
14 June 2016
MARSHALL MOTOR HOLDINGS PLC
("MMH" or the "Company")
Grant of awards under Marshall Motor Holdings plc Performance Share Plan
Marshall Motor Holdings plc, one of the UK's leading automotive retail and leasing groups, announces that on 13 June 2016 the following directors were granted nil cost options under the rules of the Marshall Motor Holdings plc Performance Share Plan ("PSP") to acquire ordinary shares of 64p each in the Company ("Ordinary Shares") as follows:
Director | Number of Ordinary Shares under option | Exercise price |
Daksh Gupta | 242,718 | £Nil |
Mark Raban | 121,359 | £Nil |
The normal vesting date of the options will be 13 June 2019, being the third anniversary of the award date. The exercise period of each option will run from the date on which each option vests to the day before the tenth anniversary of the award date.
These options are subject to the rules of the PSP and will vest dependent upon continued employment and on performance against earnings per share ("EPS") targets, as measured over a three year performance period.
ENDS
For further information and enquiries please contact:
Marshall Motor Holdings plc | c/o Hudson Sandler |
Daksh Gupta, Group Chief Executive | Tel: +44 (0) 20 7796 4133 |
Mark Raban, Chief Financial Officer | |
Investec Bank plc (Financial Adviser, NOMAD & Broker) | Tel: +44 (0) 20 7597 4000 |
Christopher Baird | |
David Flin | |
David Anderson | |
Hudson Sandler | Tel: +44 (0) 20 7796 4133 |
Nick Lyon Alex Brennan | |
Bertie Berger |
Notes to Editors
About Marshall Motor Holdings plc (www.mmhplc.com)
The Group's principal activities are the sale and repair of new and used vehicles through Marshall Motor group and the leasing of vehicles through Marshall Leasing. Following the acquisition of Ridgeway Garages (Newbury) Limited announced on 26 May 2016, the Group's businesses have a total of 103 franchises covering 24 brands, operating from 89 sites across 25 counties in England. In addition, the Group operates five trade parts specialists, seven used car centres, four standalone body shops, one forecourt and one PDI centre.
In May 2016 the Group was recognised by the Great Place to Work Institute, being ranked the 19th best place to work in the UK (large company category).
Cautionary statement
This announcement contains unaudited information based on management accounts and forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts and undue reliance should not be placed on any such statements because they speak only as at the date of this document and are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and the Group's plans and objectives, to differ materially from those expressed or implied in the forward-looking statements. MMH undertakes no obligation to revise or update any forward-looking statement contained within this announcement, regardless of whether those statements are affected as a result of new information, future events or otherwise, save as required by law and regulations.