21 Nov 2019 16:10
For immediate release | 21 November 2019 |
WALKER GREENBANK PLC
("Walker Greenbank" or the "Company")
Grant of Awards under LTIP and notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated with them in accordance with the Market Abuse Regulations
Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group, announces that on 21 November 2019 it granted nil-cost options (the "Awards") over ordinary shares of 1 pence each in the Company (the "Shares") to six PDMRs under the Walker Greenbank PLC 2015 Long Term Incentive Plan (the "LTIP"), based on the closing mid-market price on 20 November 2019 of 77.0 pence per Share. Details of the Awards are set out below:
Name | Number of Shares under Award on the basis of achieving the maximum performance targets |
Lisa Montague, Chief Executive Officer | 662,337 |
Mike Gant, Chief Financial Officer | 377,532 |
Mauricio Solojudin, Global Commercial Director | 100,108 |
Claire Vallis, Creative Director | 43,912 |
Carla Barnett, Group HR Director | 87,825 |
Caroline Geary, Company Secretary | 17,083 |
No payment was required for the grant of the Awards.
In accordance with the rules of the LTIP, which was approved by shareholders at the 2015 AGM, Shares awarded will vest three years after the date of grant subject to the satisfaction of performance conditions. 25% of the award is against a measurement of total shareholder return ("TSR") of the Company against a comparator group of companies chosen from the retail and home goods sector, and 75% of the award is measured against targets set for the financial performance of the Company for the financial year ending 31 January 2022, based on (i) earnings per share, (ii) revenue and (iii) free cash flow measurements, split 25% each. Further details of the performance measures will be set out in the Company's 2020 Annual Report and Accounts.
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Lisa Montague | ||||
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 | Walker Greenbank PLC | ||||
b) | LEI | n/a | ||||
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 1 pence each
GB0003061511 | ||||
b) | Nature of the transaction | Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions. | ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information
| Not applicable - single transaction | ||||
e) | Date of the transaction | 21 November 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Mike Gant | ||||
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 | Walker Greenbank PLC | ||||
b) | LEI | n/a | ||||
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 1 pence each
GB0003061511 | ||||
b) | Nature of the transaction | Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions. | ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information
| Not applicable - single transaction | ||||
e) | Date of the transaction | 21 November 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Mauricio Soldujin | ||||
2. | Reason for the notification | |||||
a) | Position/status | Global Commercial Director | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Walker Greenbank PLC | ||||
b) | LEI | n/a | ||||
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 1 pence each
GB0003061511 | ||||
b) | Nature of the transaction | Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions. | ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information
| Not applicable - single transaction | ||||
e) | Date of the transaction | 21 November 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Claire Vallis | ||||
2. | Reason for the notification | |||||
a) | Position/status | Creative Director | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Walker Greenbank PLC | ||||
b) | LEI | n/a | ||||
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 1 pence each
GB0003061511 | ||||
b) | Nature of the transaction | Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions. | ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information
| Not applicable - single transaction | ||||
e) | Date of the transaction | 21 November 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
|
| |||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Carla Barnett | ||||
2. | Reason for the notification | |||||
a) | Position/status | Group HR Director | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Walker Greenbank PLC | ||||
b) | LEI | n/a | ||||
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 1 pence each
GB0003061511 | ||||
b) | Nature of the transaction | Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions. | ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information
| Not applicable - single transaction | ||||
e) | Date of the transaction | 21 November 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Caroline Geary | ||||
2. | Reason for the notification | |||||
a) | Position/status | Company Secretary | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Walker Greenbank PLC | ||||
b) | LEI | n/a | ||||
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 1 pence each
GB0003061511 | ||||
b) | Nature of the transaction | Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions. | ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information
| Not applicable - single transaction | ||||
e) | Date of the transaction | 21 November 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
For further information:
Walker Greenbank PLC | +44 (0) 20 7466 5000 |
Lisa Montague, Chief Executive Officer Mike Gant, Chief Financial Officer |
|
Caroline Geary, Company Secretary |
|
|
|
Investec Bank plc (Nominated Adviser and Broker) | +44 (0) 20 7597 5970 |
David Anderson / Alex Wright |
|
Henry Reast |
|
|
|
Buchanan | +44 (0) 20 7466 5000 |
Mark Court / Toto Berger / Charlotte Slater |
|
Notes for editors:
About Walker Greenbank
Walker Greenbank PLC is a luxury interior furnishings company that designs, manufactures and markets wallpapers, fabrics and paints. In addition, the Company derives significant licensing income from the use of its designs on a wide range of interior products such as bed linen, rugs and tableware.
Walker Greenbank's brands include Zoffany, Sanderson, Morris & Co., Harlequin, Scion and Clarke & Clarke.
The Company has a strong UK manufacturing base comprising a wallpaper factory in Loughborough and a fabric printing factory in Lancaster. Both factories manufacture for the Company and for other wallpaper and fabric brands.
Walker Greenbank employs more than 650 people and its products are sold in more than 85 countries worldwide. It has showrooms in London, New York, Chicago, Paris, and Dubai.
Walker Greenbank trades on the AIM market of the London Stock Exchange under the ticker symbol WGB.
For further information please visit: www.walkergreenbank.com/