17 Nov 2020 14:13
Brickability Group plc
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(the "Company" or the "Group")
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Grant of Options
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Brickability Group plc, the leading construction materials distributor, announces that, on 16 November 2020, it awarded 5,621,074 options under the Brickability Group plc Long Term Incentive Plan ("LTIP") 2019 to a broad number of Group employees. This is the first grant of options under the LTIP since the Company's admission to AIM in August 2019.
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The options are exercisable at the nominal price of £0.01 and have vesting conditions tied to adjusted EBITDA and total shareholder return, with each award split equally between the two performance conditions. Vesting will occur on a straight-line basis on achieving 18% (equivalent to 6% annually) to 30% (equivalent to 10% annually) of the relevant performance condition over the performance period. There is no vesting if the relevant target is not met but a 50% vesting if the initial 18% hurdle is met with a proportionate additional vesting up to 100% at the 30% threshold being met.
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The performance period is three years ending 1 October 2023.
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Additional details on vesting conditions and the LTIPs are set out in the Company's Admission Document available on the Company's website.
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Details of Group directors and PDMRs who have received options are set out in the schedule below.
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Name | Director/PDMR | Options awarded |
Stuart Overend | Director | 747,283 |
Simon Pearson | PDMR | 373,641 |
Arnold Van Huet | PDMR | 373,642 |
Andrew Wilson | PDMR | 326,087 |
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 Enquiries:  Brickability Group PLC | |
John Richards, Chairman Alan Simpson, Chief Executive officer | |
c/o Montfort Communications | |
Cenkos Securities (Nomad and Broker) Max Hartley, Max Gould (Corporate Finance) | 0207 397 8900 |
Julian Morse, Alex Pollen (Sales) | |
Montfort Communications (Financial PR) | 0203 770 7916 |
James Olley Woolf Thomson Jones |
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The Company makes the following disclosures in accordance with article 19(3) of the Market Abuse Regulation:
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1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Stuart Overend | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | CFO | ||||||
b) | Initial notification /Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Brickability Group plc | ||||||
b) | LEI | 213800SK28MWXB3K3P26 | ||||||
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 for ordinary shares exercisable at £0.01 GB00BK63S759 | ||||||
b) | Nature of the transaction | Grant of options | ||||||
c) Â | Price(s) and volume(s) Â Â | Â
  | ||||||
d) | Aggregated information - Aggregated volume - Price | Â n/a | ||||||
e) | Date of the transaction | 16 November 2020 | ||||||
f) | Place of the transaction | n/a | ||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Andrew John Wilson | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR | ||||||
b) | Initial notification /Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Brickability Group plc | ||||||
b) | LEI | 213800SK28MWXB3K3P26 | ||||||
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 for ordinary shares exercisable at £0.01 GB00BK63S759 | ||||||
b) | Nature of the transaction | Grant of options | ||||||
c) Â | Price(s) and volume(s) Â Â | Â
  | ||||||
d) | Aggregated information - Aggregated volume - Price | Â n/a | ||||||
e) | Date of the transaction | 16 November 2020 | ||||||
f) | Place of the transaction | n/a |
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1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Simon Pearson | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR | ||||||
b) | Initial notification /Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Brickability Group plc | ||||||
b) | LEI | 213800SK28MWXB3K3P26 | ||||||
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 for ordinary shares exercisable at £0.01 GB00BK63S759 | ||||||
b) | Nature of the transaction | Grant of options | ||||||
c) Â | Price(s) and volume(s) Â Â | Â
  | ||||||
d) | Aggregated information - Aggregated volume - Price | Â n/a | ||||||
e) | Date of the transaction | 16 November 2020 | ||||||
f) | Place of the transaction | n/a |
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1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Arnold Van Huet | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | PDMR | ||||||
b) | Initial notification /Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Brickability Group plc | ||||||
b) | LEI | 213800SK28MWXB3K3P26 | ||||||
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 for ordinary shares exercisable at £0.01 GB00BK63S759 | ||||||
b) | Nature of the transaction | Grant of options | ||||||
c) Â | Price(s) and volume(s) Â Â | Â
  | ||||||
d) | Aggregated information - Aggregated volume - Price | Â n/a | ||||||
e) | Date of the transaction | 16 November 2020 | ||||||
f) | Place of the transaction | n/a |
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