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6 Aug 2019 15:05
6 August 2019
THE PROPERTY FRANCHISE GROUP PLC
(the "Company" or the "Group")
Long-Term Incentive Plan
The Property Franchise Group PLC today announces that it has granted an option over new ordinary shares in the Company to its Chief Financial Officer under the TPFG Share Option Plan. The award recognises his role in guiding the Group from a strong financial base to develop and implement its strategic plans and is designed to continue to incentivise him accordingly.
As for prior awards, this award will be subject to the growth in the Company's adjusted earnings per share over the 3 years to 31 December 2021. Adjusted EPS growth of 15% over the period will be required for threshold vesting of the award, with adjusted EPS growth of 44% or higher required for all of the award to vest. There will be a straight-line sliding scale between these two points. None of the award will vest for adjusted EPS growth below 15% over the period.
The maximum award is stated below.
Name Position Number of ordinary shares
subject to awards
David Raggett Chief Financial Officer 100,000
Immediately prior to these awards the Company's issued share capital was 25,822,750 Ordinary Shares and there were outstanding awards granted under this and a prior scheme over 2,274,800 Ordinary Shares of which 64,800 had vested but not been exercised.
Further detail is provided below in accordance with Article 19.3 of the EU Market Abuse Regulation.
1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
a)
| Name
| David Raggett | ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| Chief Financial Officer | ||||
b)
| Initial notification /Amendment
| Initial | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| The Property Franchise Group PLC | ||||
b)
| LEI
| 2138008J5PTJ8C77I535 | ||||
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
| Options over ordinary shares of 1 penny each
ISIN: GB00BH0WFH67
| ||||
b)
| Nature of the transaction
| Grant of nil cost options | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A - single transaction
| ||||
e)
| Date of the transaction
| 6th August 2019 | ||||
f)
| Place of the transaction
| Outside a trading venue | ||||
For further information, please contact:
The Property Franchise Group PLC Ian Wilson, Chief Executive Officer David Raggett, Chief Financial Officer | 01202 292829
| |
Cenkos Securities plc Max Hartley (Nominated Adviser) Julian Morse (Sales) | 0207 397 8900
| |
Alma PR Susie Hudson Rebecca Sanders-Hewett Sam Modlin Josh Royston
|
0203 865 9667 propertyfranchise@almapr.co.uk |
|
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