Last checked at 1 Oct 2020 07:00
Van Elle Holdings plc
("Van Elle", the "Company" or the "Group")
Director/PDMR LTIP Awards
Van Elle Holdings plc (AIM: VANL), the UK's largest ground engineering contractor, announces that on 30 September 2020, awards were made over ordinary shares of 2 pence each in the capital of the Company ("Ordinary Shares") under the Long Term Incentive Plan 2016 ("LTIP") (the "Awards").
The Awards have been granted in the form of an option to acquire Ordinary Shares at an exercise price of 2 pence each. The Awards are governed by the rules of the LTIP, and subject thereto, will vest on the third anniversary of the date of grant to the extent determined in accordance with the performance criteria. The performance criteria for this current award is based on a combination of a Total Shareholder Return target and Return on Capital Employed target, aligned to the Group's medium-term financial objectives identified in the FY2020 report & accounts.
The Awards were issued to certain directors and PDMRs of the Company, as defined by article 3(25), as set out below:
Director/PDMR | Position | Number of Ordinary Shares over which Awards have been made |
Mark Cutler | Chief Executive Officer | 802,816 |
Graeme Campbell | Chief Financial Officer | 464,788 |
Dave Warner | Specialist Piling Director | 246,478 |
Malcolm O'Sullivan | Piling Director | 246,478 |
Ian Jones | Operations Director | 126,760 |
Enquiries:
Van Elle Holdings plc | Via Walbrook |
Mark Cutler, Chief Executive Officer |
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Graeme Campbell, Chief Financial Officer |
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Peel Hunt LLP (Nominated Adviser and corporate broker) | Tel: 020 7418 8900 |
Mike Bell/Ed Allsopp |
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Walbrook PR Limited | Tel: 020 7933 8780 or vanelle@walbrookpr.com |
Tom Cooper/Nick Rome/Nicholas Johnson | 07971 221 972 or 07748 325 236 or 07884 664 686 |
The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a. | Name | Mark Cutler | |||
2. | Reason for the notification | ||||
a. | Position/status | CEO | |||
b. | Initial notification /Amendment | Initial notification | |||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a. | Name | Van Elle Holdings plc | |||
b. | LEI | 213800LQC6YL8KJT1Y18 | |||
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 2p
ISIN: GB00BYX4TP46 | |||
b. | Nature of the transaction | Grant of an award under the Van Elle LTIP | |||
c. | Price(s) and volume(s) |
| Price(s) | Volume(s) |
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2 pence per share (exercise price) | 802,816 | ||||
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d. | Aggregated information · Aggregated volume · Price |
As above | |||
e. | Date of the transaction | 30 September 2020 | |||
f. | Place of the transaction | Outside a trading venue | |||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a. | Name | Graeme Campbell | |||
2. | Reason for the notification | ||||
a. | Position/status | CFO | |||
b. | Initial notification | Initial notification | |||
| /Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a. | Name | Van Elle Holdings plc | |||
b. | LEI | 213800LQC6YL8KJT1Y18 | |||
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 2p
ISIN: GB00BYX4TP46 | |||
b. | Nature of the transaction | Awards issued under the Van Elle LTIP | |||
c. | Price(s) and volume(s) |
| Price(s) | Volume(s) |
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2 pence per share (exercise price) | 464,788 | ||||
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d. | Aggregated information · Aggregated volume · Price |
As above | |||
e. | Date of the transaction | 30 September 2020 | |||
f. | Place of the transaction | Outside a trading venue | |||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a. | Name | Dave Warner | |||
2. | Reason for the notification | ||||
a. | Position/status | Specialist Piling Director | |||
b. | Initial notification | Initial notification | |||
| /Amendment |
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3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a. | Name | Van Elle Holdings plc | |||
b. | LEI | 213800LQC6YL8KJT1Y18 | |||
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 2p
ISIN: GB00BYX4TP46 | |||
b. | Nature of the transaction | Awards issued under the Van Elle LTIP | |||
c. | Price(s) and volume(s) |
| Price(s) | Volume(s) |
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2 pence per share (exercise price) | 246,478 | ||||
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d. | Aggregated information · Aggregated volume · Price |
As above | |||
e. | Date of the transaction | 30 September 2020 | |||
f. | Place of the transaction | Outside a trading venue | |||
1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a. | Name | Malcolm O'Sullivan | |||
2. | Reason for the notification | ||||
a. | Position/status | Piling Director | |||
b. | Initial notification /Amendment | Initial notification | |||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a. | Name | Van Elle Holdings plc | |||
b. | LEI | 213800LQC6YL8KJT1Y18 | |||
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 2p
ISIN: GB00BYX4TP46 | |||
b. | Nature of the | Awards issued under the Van Elle LTIP | |||
| transaction |
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c. | Price(s) and volume(s) |
| Price(s) | Volume(s) |
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2 pence per share (exercise price) | 246,478 | ||||
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d. | Aggregated information · Aggregated volume · Price |
As above |
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e. | Date of the transaction | 30 September 2020 |
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f. | Place of the transaction | Outside a trading venue |
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1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
a. | Name | Ian Jones | |||
2. | Reason for the notification | ||||
a. | Position/status | Operations Director | |||
b. | Initial notification /Amendment | Initial notification | |||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a. | Name | Van Elle Holdings plc | |||
b. | LEI | 213800LQC6YL8KJT1Y18 | |||
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 2p
ISIN: GB00BYX4TP46 | |||
b. | Nature of the transaction | Awards issued under the Van Elle LTIP | |||
c. | Price(s) and volume(s) |
| Price(s) | Volume(s) |
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2 pence per share (exercise price) | 126,760 | ||||
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d. | Aggregated information · Aggregated volume · Price |
As above |
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e. | Date of the transaction | 30 September 2020 |
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f. | Place of the transaction | Outside a trading venue |
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About Van Elle Holdings plc:
Van Elle Holdings is the UK's largest specialist geotechnical engineering contractor. The Company provides a range of ground engineering techniques and services including - ground investigation, general and specialist piling, rail geotechnical engineering, modular foundations, and ground improvement and stabilisation services.
Van Elle operates through three divisions: general piling, specialist piling and ground engineering; and is focused on three end markets; residential and housing, infrastructure and regional construction - across which the Group has completed more than 20,000 projects over the last 35 years.
General piling provides a range of larger piling and ground engineering solutions for open-site construction projects. Specialist piling provides a range of geotechnical solutions in operationally constrained environments including on-track rail applications. Ground engineering services offers a range of ground investigation and geotechnical services and modular foundation solutions such as Smartfoot®. Van Elle has a market-leading reputation and the UK's largest modern rig fleet of 118 rigs.
Having floated on AIM in 2016 it now has a strong national presence, diversified offering and market-leading brand name.