Last checked at 21 Dec 2020 09:55
21 December 2020
The Pebble Group plc ("Company")
AIM: PEBB
Grant of performance share awards under 2019 Long Term Incentive Plan (LTIP)andNotification of transactions by PDMRs
The Pebble Group, a leading provider of technology, services and products to the global promotional products industry, announces that on 21 December 2020 the Company made awards of 1,252,477 nil cost options under The Pebble Group plc Long Term Incentive Plan 2019 ("Performance Shares"), including to certain Persons Discharging Managerial Responsibilities ("PDMR") as detailed below.
Director | Number of awards |
Christopher Lee | 242,152 |
Claire Thomson | 179,372 |
Louisa Hesketh | 14,350 |
The vesting of all the Performance Shares is conditional on meeting performance conditions measured over a three-year period as described below.
Performance conditions
1. Adjusted Earnings Per Share Target
Up to 70% of the total LTIP awards will vest on the achievement of total adjusted earnings per share ("EPS") for the three years ending 30 June 2023 (the "Performance Condition Period"). The actual targets are not being disclosed in advance as it is deemed commercially sensitive but are considered by the Remuneration Committee to have an appropriate level of challenge. They will be disclosed in the 2020 Annual Report.
2. Total Shareholder Return ("TSR") Target
Up to 30% of the total Performance Shares will vest dependent upon the performance of the Company's Absolute TSR measured over the three year period ending 30 June 2023. The share price at the start of this period was 105p.
Annualised TSR for the three year period to 30 June 2023 | Portion of Ordinary Shares vesting subject to TSR Target |
Below 8.0% per annum | No vesting |
8.0% per annum | 25% |
11.5% per annum | 60% |
15% per annum | 100% |
The making of these awards at these levels and with these performance condition types was set out in the Company's AIM Admission Document published in December 2019. The awards were postponed in the light of the COVID-19 crisis and further postponed due to regulatory timing restrictions on share dealings.
The Remuneration Committee has discretion to adjust the level of vesting if in its opinion such level of Vesting resulting from the application of the Performance Target is considered not to be a fair and accurate reflection of the performance of the Company or a fair and accurate reflection of the award holder's performance or where there is any other factor or any other circumstances which would make the level of vesting inappropriate without adjustment.
The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014:
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
(a) | Name | 1. Christopher Lee 2. Claire Thomson 3. Louisa Hesketh | ||||||
2 | Reason for the notification | |||||||
(a) | Position/status | 1. Chief Executive Officer 2. Chief Financial Officer 3. Group Financial Controller | ||||||
(b) | Initial notification/Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
(a) | Name | The Pebble Group plc | ||||||
(b) | LEI | 213800LZUQAYBHDEQY04 | ||||||
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 1 pence each ISIN GB00BK71XP16 PEBB.L
| ||||||
(b) | Nature of the transaction | Award of nil-cost options pursuant to The Pebble Group plc Long Term Incentive Plan | ||||||
(c) | Price(s) and volume(s) |
| ||||||
(d) | Aggregated information - Aggregated volume - Price | N/A | ||||||
(e) | Date of the transaction | 21 December 2020 | ||||||
(f) | Place of the transaction | Outside a trading venue | ||||||
Enquiries
The Pebble Group plc Chris Lee, Chief Executive Officer Claire Thomson, Chief Financial Officer
| +44 (0) 161 786 0415 |
Grant Thornton UK LLP (Nominated Adviser) Samantha Harrison / Harrison Clarke
| +44 (0) 20 7184 4384 |
Berenberg (Corporate Broker) Chris Bowman / Simon Cardron / Arnav Kapoor
| +44 (0) 20 3207 7800 |
Belvedere Communications (Financial PR) Cat Valentine Keeley Clarke Llew Angus | thepebblegrouppr@belvederepr.com +44 (0) 7715 769 078 +44 (0) 7967 816 525 +44 (0) 7407 023 147 |
About The Pebble Group plc - www.thepebblegroup.com
The Pebble Group is a provider of technology, services and products to the global promotional products industry, comprising two differentiated businesses, focused on specific areas of the promotional products market:
Brand Addition - www.brandaddition.com
The Group's promotional product merchandise business, Brand Addition, is a leading provider of promotional products to global brands. Brand Addition utilises its global network to source and deliver complex and creative promotional product solutions to support the marketing efforts of its multi-national clients, who operate in sectors which include health & beauty, fast moving consumer goods, transport, technology, banking & finance and charity. Brand Addition's clients primarily comprise major global brands under contract.
Facilisgroup - www.facilisgroup.com
The Group's SaaS business, Facilisgroup, provides subscription-based services to SME promotional product distributors (Partners) in the United States and Canada. Facilisgroup's suite of services includes business intelligence software, buying power and community events. Through its @ease proprietary software, Facilisgroup offers a SaaS technology platform that enables its network of Partners to improve order management, CRM and sales analysis and reporting. Facilisgroup also provides its Partners with access on favourable terms to a selected group of preferred suppliers, by consolidating the purchasing power of its Partners. This attracts rebates from suppliers, who in turn benefit from efficient access to a network of high-quality distributors.