REG - THG PLC - Grant of Share Options

THGAnnouncement

07/03/2024 16:30

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RNS Number : 0565G  THG PLC  07 March 2024

 

7 March 2024

THG PLC

 

("THG" or the "Company")

 

 

Grant of Share Options

 

The Company announces that on 7 March 2024 it made awards of nil cost options
over ordinary voting shares of £0.005 each in the Company ("Awards" and
"Shares") to certain directors and persons discharging managerial
responsibility ("PDMRs") of the Company, under the rules of the THG PLC 2022
Long Term Incentive Plan (the "Plan").

 

The Awards have been granted over the number of Shares shown below. The Awards
will vest on the third anniversary of the date of grant, subject to the rules
of the Plan and the achievement of stretching performance targets as
summarised below.

 

The details of the Awards are as follows:

 

 PDMR            Title                    Number of Shares subject to Award
 Damian Sanders  Chief Financial Officer  1,939,788
 John Gallemore  Chief Operating Officer  1,745,810

 

A summary of the performance targets is below:

 

 Measure                                          Target details
 Relative TSR vs FTSE 250 Index (80% weighting)   Threshold (25% vesting): median

                                                  Maximum (100% vesting): upper quartile

                                                  Straight-line vesting between these points
 Achievement of our ESG strategy (20% weighting)  By end of 2026, THG operational sites to achieve Zero Waste TRUE Gold
                                                  Certification

 

 

In addition, the Company shortly intends to  make an application for
30,629,135 Shares to be admitted to trading on the London Stock Exchange and
to be admitted to the Financial Conduct Authority's Official List.  These
Shares will be issued to VG Corporate Trustee Limited, acting as trustee of
the THG Employee Benefit Trust.  Consistent with the Company's strong track
record of incentivising employees, and in order to continue to attract and
retain world-class talent, these Shares will be used to make awards to certain
key employees below Executive level, which will be subject to the achievement
of various targets.  Subject to the satisfaction of such targets, a third of
these Shares are expected to vest on each of 31 December 2024, 2025 and
2026.  A separate announcement will follow in due course once such
application has been made.

 

 

The Company makes the below announcement and notification in accordance with
the requirements of the UK Market Abuse Regulation.

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them:

 

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Damian Sanders
 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                                                         THG PLC

 b)   LEI                                                           21380066N3SV9O8IDP37

 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  Ordinary shares of £0.005 each

      Identification code

                                                                   ISIN Code: GB00BMTV7393

 b)   Nature of the transaction                                    Grant of a nil-cost option under the THG PLC 2022 Long Term Incentive Plan

 c)   Price(s) and volume(s)

 Price(s)   Volume(s)
                                                                   nil         1,939,788
 d)   Aggregated information                                       N/A - Single transaction

      - Aggregated volume

      - Price
 e)   Date of the transaction                                      7 March 2024

 f)   Place of the transaction                                     Outside a trading venue

d)

Aggregated information

- Aggregated volume

- Price

N/A - Single transaction

e)

Date of the transaction

7 March 2024

 

f)

Place of the transaction

Outside a trading venue

 

 

 

 

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         John Gallemore
 2    Reason for the notification
 a)   Position/status                                              Chief Operating Officer
 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         THG PLC

 b)   LEI                                                           21380066N3SV9O8IDP37

 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  Ordinary shares of £0.005 each

      Identification code

                                                                   ISIN Code: GB00BMTV7393

 b)   Nature of the transaction                                    Grant of a nil-cost option under the THG PLC 2022 Long Term Incentive Plan

 c)   Price(s) and volume(s)

 Price(s)   Volume(s)
                                                                   nil         1,745,810
 d)   Aggregated information                                       N/A - Single transaction

      - Aggregated volume

      - Price
 e)   Date of the transaction                                      7 March 2024

 f)   Place of the transaction                                     Outside a trading venue

d)

Aggregated information

- Aggregated volume

- Price

N/A - Single transaction

e)

Date of the transaction

7 March 2024

 

f)

Place of the transaction

Outside a trading venue

 

 

 

Enquiries to:

 

James Pochin, General Counsel and Company Secretary

THG PLC

James.Pochin@thehutgroup.com

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