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PITTARDS PLC

(AIM: PTD)

Long Term Incentive Plan

Pittards plc ("Pittards" or the "Company"), the specialist producer of technically advanced leather and luxury leather goods for sale to retailers, manufacturers and distributors, today announces a new 2015 Long Term Incentive Plan ("LTIP") has been adopted by the Board of the Company, together with initial grants made under the LTIP.

Background to the LTIP

At the Company's recent Board meeting held on 12 May 2015, the Board of the Company established the rules of the LTIP and it was agreed that options would be granted to certain members of the Board and key managers.

Prior to the LTIP being established, the Company did not have a long term incentive plan for management therefore it has been established to further incentivise Reg Hankey, Jill Williams and Stephen Yapp plus key managers, (the "Participants") to deliver long-term value creation for shareholders.

Under the LTIP the Company will award the Participants nil cost options. The options will vest three years from the date of grant, subject to continued service and the achievement of performance targets (the "Performance Targets"). An initial grant of options has been made this week.

Size of Grant

The grants can be made for up to 100 per cent. of the annual salary for each of the Participants.

Vesting Performance Condition

The Performance Targets comprise two components. 50 per cent. of the LTIP options will vest and become exercisable depending on the Company's sales growth. This will become exercisable as follows:

The second 50 per cent. of the LTIP option will vest and become exercisable depending on the Company's Earnings Before Interest and Tax ("EBIT") growth as follows:

Exercise Period

The normal date of vesting of the Options shall be three years from grant but they may be exercised up to eight years from the date of grant.

Initial Grants

For 2015, options have been granted to Participants, at the average price of the 30 days prior to 8 June 2015, calculated as 126.75 pence.

The initial awards to the Pittards board directors are as follows: