Last checked at 15 Sep 2017 12:53
THE PROPERTY FRANCHISE GROUP PLC
(the "Company" or the "Group")
Grant of Options
The Property Franchise Group, one of the UK's largest property franchises, announces that it has granted options over new ordinary shares in the Company to certain of its management team under the Company's new TPFG Share Option Plan. These awards recognise each of their roles in developing and implementing the Company's strategic plans and are designed to continue to incentivise them appropriately.
The awards will be subject to the growth in the Company's basic earnings per share, excluding exceptional income/costs and share based payments ("adjusted EPS") over the 3 years to 31 December 2019. Adjusted EPS growth of 15% over the period will be required for threshold vesting of the awards, with adjusted EPS growth of 44% or higher required for all of the awards to vest. There will be a straight line sliding scale between these two points. None of the awards will vest for adjusted EPS growth below 15% over the period.
The maximum awards are stated below.
Name | Position | Number of shares subject to awards |
Ellie Hall | Managing Director Martin & Co | 150,000 |
Graham Lock | Managing Director Xperience and Whitegates | 150,000 |
Nick Neill | Managing Director Ewemove | 150,000 |
Kate Toland | Marketing Director | 150,000 |
Christopher Varley | Company Secretary | 5,000 |
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: | Ellie Hall | Graham Lock | ||||||
2 | Reason for notification. | ||||||||
a) | Position/Status: | Managing Director Martin & Co. | Managing Director Xperience and Whitegates | ||||||
b) | Initial Notification/Amendment: | Initial Notification | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participation, auction platform, | ||||||||
auctioneer or auction monitor. | |||||||||
a) | Name: | The Property Franchise Group PLC | The Property Franchise Group PLC | ||||||
b) | LEI: | 2138008J5PTJ8C77I535
| 2138008J5PTJ8C77I535
| ||||||
4 | Details of transaction(s);section to berepeated 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: | Ordinary Shares of | Ordinary Shares of | ||||||
1 pence each | 1 pence each | ||||||||
Identification code: | ISIN: GB00BH0WFH67 | ISIN: GB00BH0WFH67 | |||||||
b) | Nature of transaction: | Grant of nil cost options | Grant of nil cost options | ||||||
over Company's shares | over Company's shares | ||||||||
c) | Price(s) and volume(s) | Price(s) | Volume(s) | Price(s) | Volume(s) | ||||
1 pence each | 150,000 | 1 pence each | 150,000 | ||||||
d) | Aggregatted volume: | n/a | n/a | ||||||
Price: | n/a | n/a | |||||||
e) | Date of Transaction: | 14 September 2017 | 14 September 2017 | ||||||
f) | Place of the Transaction | Outside a trading venue | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated. | ||||||||
a) | Name: | Nick Neill | Kate Toland | ||||||
2 | Reason for notification. | ||||||||
a) | Position/Status: | Managing Director Ewemove | Marketing Director | ||||||
b) | Initial Notification/Amendment: | Initial Notification | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participation, auction platform, | ||||||||
auctioneer or auction monitor. | |||||||||
a) | Name: | The Property Franchise Group PLC | The Property Franchise Group PLC | ||||||
b) | LEI: | 2138008J5PTJ8C77I535
| 2138008J5PTJ8C77I535
| ||||||
4 | Details of transaction(s);section to berepeated 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: | Ordinary Shares of | Ordinary Shares of | ||||||
1 pence each | 1 pence each | ||||||||
Identification code: | ISIN: GB00BH0WFH67 | ISIN: GB00BH0WFH67 | |||||||
b) | Nature of transaction: | Grant of nil cost options | Grant of nil cost options | ||||||
over Company's shares | over Company's shares | ||||||||
c) | Price(s) and volume(s) | Price(s) | Volume(s) | Price(s) | Volume(s) | ||||
1 pence each | 150,000 | 1 pence each | 150,000 | ||||||
d) | Aggregatted volume: | n/a | n/a | ||||||
Price: | n/a | n/a | |||||||
e) | Date of Transaction: | 14 September 2017 | 14 September 2017 | ||||||
f) | Place of the Transaction | Outside a trading venue | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated. | ||||||||
a) | Name: | Christopher Varley | |||||||
2 | Reason for notification. | ||||||||
a) | Position/Status: | Company Secretary | |||||||
b) | Initial Notification/Amendment: | Initial Notification | |||||||
3 | Details of the issuer, emission allowance market participation, auction platform, | ||||||||
auctioneer or auction monitor. | |||||||||
a) | Name: | The Property Franchise Group PLC | |||||||
b) | LEI: | 2138008J5PTJ8C77I535
| |||||||
4 | Details of transaction(s);section to berepeated 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: | Ordinary Shares of | |||||||
1 pence each | |||||||||
Identification code: | ISIN: GB00BH0WFH67 | ||||||||
b) | Nature of transaction: | Grant of nil cost options | |||||||
over Company's shares | |||||||||
c) | Price(s) and volume(s) | Price(s) | Volume(s) | ||||||
1 pence each | 5,000 | ||||||||
d) | Aggregated volume: | n/a | |||||||
Price: | n/a | ||||||||
e) | Date of Transaction: | 14 September 2017 | |||||||
f) | Place of the Transaction | Outside a trading venue | |||||||
For further information, please contact:
The Property Franchise Group PLC 01202 292829
Ian Wilson, Chief Executive Officer
David Raggett, Chief Financial Officer
Cenkos Securities plc 0207 397 8925
Max Hartley(Nomad), Alex Aylen (Sales)
Bell Pottinger
David Rydell, 020 3772 2500
Eve Kirmatzis 07825 521527