Last checked at 21 Aug 2020 13:33
NWF Group plc
For release: 21 August 2020
NWF Group plc ('NWF' or the 'Group')
NWF Group plc: Director/PDMR Shareholding
Further to the announcement of 4 August, Andrew Downie, Managing Director of NWF Agriculture, and Richard Huxley, Managing Director of NWF Fuels, were also subject to the awards approved under the terms of the established NWF Company Performance Share Plan (the "Plan").
Andrew Downie received an award of a conditional right over a maximum of 64,756 ordinary shares of 25 pence each of the Company ("Shares") at a price of 205 pence per Share, being the mid-market price at the close of business on 3 August 2020. 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 2023 increases by RPI plus 2% per annum then 19,427 Shares will be issued under the Plan; and
2. the maximum of 64,756 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 2023.
Following the award, Andrew Downie will be interested in 207,656 conditional awards over Shares.
Richard Huxley received an award of a conditional right over a maximum of 68,872 Shares at a price of 205 pence per Share, being the mid-market price at the close of business on 3 August 2020. 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 2023 increases by RPI plus 2% per annum then 20,662 Shares will be issued under the Plan; and
2. the maximum of 68,872 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 2023.
Following the award, Richard Huxley will be interested in 220,584 conditional awards over Shares.
PCA Shareholding
As announced on 4 August 2020, the Company issued 253,525 Shares in respect of awards previously made under the Plan. Following the satisfaction of performance conditions, 44,938 Shares were issued to Andrew Downie (via his wife), who will then have an interest of 44,938 Shares representing 0.09% of the issued share capital of the Company.
For further information please visit www.nwf.co.uk or contact:
Rob Andrew, Company Secretary
NWF Group plc
Tel: 01829 260 260
Reg Hoare / James Bavister
MHP Communications
Tel: 0203 128 8100
Mike Bell / Ed Allsopp
Peel Hunt LLP
(Nominated Adviser) Tel: 0207 418 8900
The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a. | Name | Andrew Downie | |||
2. | Reason for the notification | ||||
a. | Position/status | Managing Director of NWF Agriculture | |||
b. | Initial notification /Amendment | Initial | |||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a. | Name | NW F Group plc | |||
b. | LEI | 213800ARRZNN1W VZ9M70 | |||
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 25p in the Company
GB0006523608 | |||
b. | Nature of the transaction |
Award of options under the Company's Performance Share Plan | |||
c. | Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil | 64,756 | ||||
d. | Aggregated information • Aggregated volume • Price |
n/a (single transaction) | |||
e. | Date of the transaction | 12 August 2020 | |||
f. | Place of the transaction |
Outside a trading venue | |||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a. | Name | Tina Downie | |||
2. | Reason for the notification | ||||
a. | Position/status | PCA of PDMR - wife of Andrew Downie | |||
b. | Initial notification /Amendment | Initial | |||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a. | Name | NW F Group plc | |||
b. | LEI | 213800ARRZNN1W VZ9M70 | |||
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 25p in the Company
GB0006523608 | |||
b. | Nature of the transaction |
Issue of shares under the Company's Performance Share Plan | |||
c. | Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
0p | 44,938 | ||||
d. | Aggregated information • Aggregated volume • Price |
n/a (single transaction) | |||
e. | Date of the transaction | 12 August 2020 | |||
f. | Place of the transaction |
Outside a trading venue | |||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a. | Name | Richard Huxley | |||
2. | Reason for the notification | ||||
a. | Position/status | Managing Director of NWF Fuels | |||
b. | Initial notification /Amendment | Initial | |||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a. | Name | NW F Group plc | |||
b. | LEI | 213800ARRZNN1W VZ9M70 | |||
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 25p in the Company
GB0006523608 | |||
b. | Nature of the transaction |
Award of options under the Company's Performance Share Plan | |||
c. | Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
Nil | 68,872 | ||||
d. | Aggregated information • Aggregated volume • Price |
n/a (single transaction) | |||
e. | Date of the transaction | 12 August 2020 | |||
f. | Place of the transaction |
Outside a trading venue | |||