REG - Ashtead Tech Hldgs - Conditional LTIP Award

Ashtead Technology HoldingsAnnouncement

04/05/2023 17:15

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RNS Number : 4859Y  Ashtead Technology Holdings plc  04 May 2023

4 May 2023

Ashtead Technology Holdings plc

("the Company")

 

Conditional LTIP Award

 

Ashtead Technology Holdings plc (AIM: AT.), a leading subsea equipment rental
and solutions provider for the global offshore energy sector, announces that
its Remuneration Committee has conditionally granted long-term incentive
awards over 438,622 new ordinary shares of 5 pence each in the Company at nil
cost under the 2023 Long Term Incentive Plan ("2023 LTIP"), representing
approximately 0.5% of the Company's issued ordinary share capital (the
"Awards").

 

The Awards will vest in one tranche following a three-year performance period
not earlier than the date of release of the Company's annual report for the
year ending 31 December 2025. 50% of the award is linked to the achievement of
target compound annual growth of Adjusted Earnings Per Share, 25% of the award
is linked to the achievement of an average ROIC and 25% of the award is linked
to the achievement of total shareholder return (TSR) relative to the wider
market tested against the performance of the Numis Smaller Companies Index +
AIM Index (ex-Investment Companies). The Awards are subject to clawback
provisions. Further details of the performance conditions will be set out in
the notice of the 2023 Annual General Meeting ("AGM"), which will shortly be
posted to shareholders.

 

In accordance with best practice under the Remuneration Committee Guide
published by the Quoted Companies Alliance, the Company will seek shareholder
authority for the 2023 LTIP at its AGM.

 

The awards to Persons Discharging Managerial Responsibility are as follows:

 

 PDMR            Awards
 Allan Pirie     154,417
 Ingrid Stewart  81,998

 

 

For further information, please contact:

 

 Ashtead Technology                           (Via Vigo Consulting)

 Allan Pirie, Chief Executive Officer

 Ingrid Stewart, Chief Financial Officer

 Vigo Consulting (financial PR)               Tel: +44 (0)20 7390 0230

 Patrick d'Ancona                              ashteadtechnology@vigoconsulting.com

 Finlay Thomson

 Kate Kilgallen

 Numis Securities Limited (Nomad and Broker)  Tel: +44 (0)20 7260 1000

 Julian Cater

 George Price

 Kevin Cruickshank (QE)

 

Notes to editors:

 

Ashtead Technology is a leading subsea equipment rental and solutions provider
for the global offshore energy sector. Ashtead Technology's specialist
equipment, advanced-technologies and support services enable its customers to
understand the subsea environment and manage offshore energy production
infrastructure.

 

The Company's service offering is applicable across the lifecycle of offshore
wind farms and offshore oil and gas infrastructure.

 

In the fast-growing offshore wind sector, Ashtead Technology's specialist
equipment and services are essential through the project development,
construction and installation phase. Once wind farms are operational, Ashtead
Technology supports customers with inspection, maintenance and repair ("IMR")
equipment and services.  In the more mature oil and gas sector, Ashtead
Technology's focus is on IMR and decommissioning.

 

Headquartered in the UK, the Company operates globally, servicing customers
from its ten facilities located in key offshore energy hubs.

 

 

 

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                                              Allan Pirie
 2.   Reason for the notification
 (a)  Position/status                                   Chief Executive Officer
 (b)  Initial notification/ Amendment                   Initial notification
 3.   Details of the issuer
 (a)  Name                                              Ashtead Technology Holdings plc
 (b)  LEI                                               213800LHEWVY66RPGR58
 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           Ordinary shares of £0.05 each
 (b)  Identification code of the Financial Instrument   GB00BLH42507
 (c)  Nature of the transaction                         Grant of nil-cost options under the Long-Term Incentive Plan (LTIP)
 (d)  Price(s) and volume(s)                            Price(s)                            Volume(s)
                                                        Nil cost options                    154,417

 (e)  Aggregated information                            N/A

      -               Aggregated volume

      -               Price
 (f)  Date of the transaction                           4 May 2023
 (g)  Place of the transaction                          Outside a trading venue

 

 

 1.   Details of the person discharging managerial responsibilities/person closely
      associated
 (a)  Name                                              Ingrid Stewart
 2.   Reason for the notification
 (a)  Position/status                                   Chief Financial Officer
 (b)  Initial notification/ Amendment                   Initial notification
 3.   Details of the issuer
 (a)  Name                                              Ashtead Technology Holdings plc
 (b)  LEI                                               213800LHEWVY66RPGR58
 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           Ordinary shares of £0.05 each
 (b)  Identification code of the Financial Instrument   GB00BLH42507
 (c)  Nature of the transaction                         Grant of nil-cost options under the Long-Term Incentive Plan (LTIP)
 (d)  Price(s) and volume(s)                            Price(s)                            Volume(s)
                                                        Nil cost options                    81,998

 (e)  Aggregated information                            N/A

      -               Aggregated volume

      -               Price
 (f)  Date of the transaction                           4 May 2023
 (g)  Place of the transaction                          Outside a trading venue

 

 

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