22 Aug 2017 07:00
For release | 22 August 2017 |
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 August 2017 it granted nil-cost options (the "Awards") over ordinary shares of 1 pence each in the Company (the "Shares") to five PDMRs under the Walker Greenbank PLC 2015 Long Term Incentive Plan (the "LTIP"), based on the closing mid-market price on 18 August 2017 of 224.5 pence per Share. Details of the Awards are set out below:
Name | Number of Shares under Award on the basis of the Company achieving the maximum performance targets |
John Sach, Chief Executive Officer | 166,822 |
Mike Gant, Chief Financial Officer | 132,991 |
Paul Mullan, Managing Director - Manufacturing | 35,698 |
Carla Barnett, Group HR Director | 30,938 |
Caroline Geary, Company Secretary | 13,766 |
No payment was required for the grant of the Awards.
In accordance with the rules of the LTIP, Shares awarded will vest three years after the date of grant subject to the satisfaction of performance conditions. 50% of the award is against a measurement of total shareholder return ("TSR") of the Company, and 50% of the award is measured against an earnings per share target for the Company for its financial year ending 31 January 2020. Further details of the performance targets will be set out in the Company's 2018 Annual report.
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | John Sach | ||||
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 August 2017 | ||||
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 August 2017 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Paul Mullan | ||||
2. | Reason for the notification | |||||
a) | Position/status | Managing Director - Manufacturing | ||||
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 August 2017 | ||||
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 August 2017 | ||||
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 August 2017 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
For further information:
Walker Greenbank PLC | +44 (0) 1895 221068 |
John Sach, Chief Executive Mike Gant, Chief Financial Officer | |
Caroline Geary, Company Secretary | |
Investec Bank plc (Nominated Adviser and Broker) | +44 (0) 20 7597 5970 |
Garry Levin / David Anderson / Alex Wright - Corporate Finance | |
Henry Reast - Corporate Broking | |
Buchanan | +44 (0) 20 7466 5000 |
Mark Court / Sophie Cowles / Catriona Flint |
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 Sanderson, Morris & Co, Harlequin, Zoffany, Scion and Anthology. The brand portfolio was extended with the acquisition of the Clarke & Clarke and Studio G brands in October 2016.
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 600 people and its products are sold in more than 85 countries worldwide. It has showrooms in London, New York, Paris, Amsterdam and Dubai along with partnership showrooms in Moscow and in Shenzhen, China.
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/