Nwf Regulatory News (NWF)

For release Monday 2 October 2023

NWF Group plc   

 

NWF Group plc: Award of Options under Company Performance Share Plan

 

NWF Group plc ('NWF' or the 'Company'), the specialist distributor of fuel, food and feed across the UK, announces the following award has been approved under the terms of the established NWF Company Performance Share Plan (the 'Plan').

Katie Shortland, Chief Financial Officer of NWF, will receive an award of an option over a maximum of 92,760 ordinary shares of 25 pence each of the Company ('Shares') at a price of 221 pence per Share, being the mid-market price at the close of business on 29 September 2023. This award is subject to the following performance targets:

1.  if the reported headline basic earnings per share for the three financial years ending 31 May 2026 increases by RPI plus 2% per annum then 27,828 Shares will be issued under the Plan; and

2.  the maximum of 92,760 Shares will be issued if the reported headline basic earnings per share increases by RPI plus 8% per annum for the three financial years ending 31 May 2026.

Following the award, Katie Shortland will be interested in 92,760 options over Shares.

The Plan was established for the purpose of incentivising and retaining the Company's eligible executive management. Shares awarded under the Plan are subject to a performance criteria that requires NWF to meet a minimum reported basic earnings per share target over a three year period. The Remuneration Committee has responsibility for determining the award of Shares and the performance targets under the Plan. In the event of a recipient leaving during the period to 31 May 2026, the circumstances surrounding the recipient leaving the Company would be assessed, and any award which subsequently vests would be pro-rated to reflect the recipient's actual period of employment.

 

 

 

 

 

 

 

 

 

 

 

 

The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail: