13 Dec 2022 09:07
Sureserve Group plc
("Sureserve" or the "Group")
Grant of Options
Sureserve (AIM: SUR), the social housing energy services Group, announces that it has granted awards under the Company's Performance Share Plan ("PSP") to Peter Smith, Chief Executive Officer, Sameet Vohra, Chief Financial Officer, and Managing Directors of the Group's subsidiary businesses. The awards are in the form of an option to acquire ordinary shares of 10 pence each in the capital of the Company ("Ordinary Shares"), subject to the performance and vesting conditions of the PSP.
The awards were granted on 13 December 2022 and will vest on 13 December 2025, the third anniversary of grant.
The performance condition will be measured against the growth in earnings per share ("EPS") achieved during the three financial years ending 30 September 2025. Achievement of the performance condition would see the awards being capable of being exercised in respect of 405,797 Ordinary Shares for Peter Smith and 304,347 Ordinary Shares for Sameet Vohra. If the performance condition is exceeded, the awards would be capable of exercise in respect of up to 507,246 Ordinary Shares for Peter Smith and up to 380,433 Ordinary Shares for Sameet Vohra. Awards over a maximum of 1,041,657 Ordinary Shares were granted to Managing Directors of the Group's subsidiary businesses.
The awards will be exercisable following vesting at a strike price of 69 pence per Ordinary Share until the tenth anniversary of grant ending on 13 December 2032.
Enquiries
Sureserve Group | |
Nick Winks, Chairman | 07973 316 544 |
Peter Smith, Chief Executive Officer Sameet Vohra, Chief Financial Officer
| 07590 929 431 07834 740059 |
Camarco (Financial Public Relations) | |
Ginny Pulbrook | 020 3757 4992 |
Rosie Driscoll Toby Strong
| |
Shore Capital (Nominated Adviser and Broker) | |
Stephane Auton | 020 7408 4090 |
Daniel Bush Tom Knibbs | |
Fiona Conroy | |
Notes to editors
Sureserve is a leading UK Social Housing Energy Services Group. The Group was founded in 1988 and is headquartered in Dartford. It currently employs some 2,588 staff from 28 offices across the UK. Following the strategic review announced in January 2022, the Group now reports performance under a single "Social Housing Energy Services" division.
The notification set out below is made in accordance with the UK version of the EU Market Abuse Regulation (2014/596/EU) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Peter Smith
| |
2 | Reason for the notification | ||
a) | Position/status | Chief Executive Officer
| |
b) | Initial notification/ Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name
| Sureserve Group plc | |
b) | LEI | 213800FHUTNVX8LWPH50
| |
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 | Option over Ordinary Shares of 10p each in the capital of Sureserve Group plc
GB00BSKS1M86
| |
b) | Nature of the transaction | Award of an option over Ordinary Shares.
| |
c) |
Price(s) and volume(s)
| Price(s) | Volume(s) |
Nil | Up to a maximum of 507,246 Ordinary Shares | ||
d) | Aggregated information - Aggregated price - Aggregated volume - Aggregated total |
N/A - single transaction | |
e) | Date of the transaction | 13 December 2022
| |
f) | Place of the transaction | Outside of a trading venue
| |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Sameet Vohra
| |
2 | Reason for the notification | ||
a) | Position/status | Chief Financial Officer
| |
b) | Initial notification/ Amendment | Initial Notification | |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
a) | Name
| Sureserve Group plc | |
b) | LEI | 213800FHUTNVX8LWPH50
| |
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 | Option over Ordinary Shares of 10p each in the capital of Sureserve Group plc
GB00BSKS1M86
| |
b) | Nature of the transaction | Award of an option over Ordinary Shares.
| |
c) |
Price(s) and volume(s)
| Price(s) | Volume(s) |
Nil | Up to a maximum of 380,433 Ordinary Shares | ||
d) | Aggregated information - Aggregated price - Aggregated volume - Aggregated total |
N/A - single transaction | |
e) | Date of the transaction | 13 December 2022 | |
f) | Place of the transaction | Outside of a trading venue
| |