Grant of Options
02/08/2022 13:47
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RNS Number : 6578U Belvoir Group PLC 02 August 2022
2 August 2022
BELVOIR GROUP PLC
(the "Company", the "Group" or "Belvoir")
New Long-Term Incentive Plan
Belvoir Group PLC (AIM:BLV), a leading UK property franchise group, today
announces that it has granted nominal cost options over 329,265 new ordinary
shares in the Company to its Executive Directors and members of its senior
management team under the Belvoir Group Performance Share Plan. The awards
reflect their roles and responsibilities in determining and executing the
Group strategic growth plans and are intended to retain and incentivise the
executive directors and senior management team accordingly.
The awards will be 100% subject to an EPS Performance Condition: the
cumulative diluted earnings per share ("EPS"), adjusted to exclude exceptional
items for the three years to 31 December 2024.
A floor of 62.7p per share and a cap of 72.1p per share applies to the EPS
Performance Condition. The floor requires the Belvoir Group to achieve the
cumulative diluted adjusted EPS for the three years to 31 December 2024 as per
the current market forecast for that period. The cap requires the Group to
exceed the cumulative diluted adjusted EPS for the three years to 31 December
2024 as per the current market forecast by 15%. Where performance is below
the floor, no options will vest; where performance is at the floor, 25% of the
options will vest; and where performance is at or above the cap, 100% will
vest. Straight-line vesting applies between the floor and the cap.
The maximum awards for directors and PDMRs are stated below:
Name
Position
Number of shares
subject to awards
Dorian Gonsalves Chief Executive Officer, Belvoir Group
PLC 101,075
Louise George Chief Financial Officer, Belvoir
Group PLC 92,475
Michelle Brook Financial Services Director,
Belvoir Group PLC 58,065
Philip Gee Managing Director,
Northwood GB
Limited 8,000
David Spackman Managing Director, Newton Fallowell
Limited 8,000
Ian Maclean Franchise Director, Belvoir
Property Management (UK) Limited 8,000
Tim Wood Financial Services
Director, Brook Financial Services Ltd 6,050
Julie Wilson Group Financial Controller,
Belvoir Group PLC 6,050
Immediately prior to these awards the Company's issued share capital was
37,292,113 ordinary shares and there were outstanding CSOP options of 233,365
and LTIP options of 542,142.
Further details on these grants are included in the notifications below, made
in accordance with the requirements of the EU Market Abuse Regulation which is
part of English law by virtue of the European Union (Withdrawal) Act 2018.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
596/2014
1 Details of the person discharging managerial responsibilities/person closely
associated
a. Name Dorian Gonsalves Louise George
2 Reason for notification
a. Position/Status Chief Executive Officer, Chief Financial Officer,
Belvoir Group PLC
Belvoir Group PLC
b. Initial notification/ Initial Notification Initial Notification
Amendment
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Belvoir Group PLC Belvoir Group PLC
b. LEI N/A 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 Options over Ordinary Shares of 1 pence each Options over Ordinary Shares of 1 pence each
Identification Code
n/a n/a
b. Nature of the transaction Grant of nominal cost options Grant of nominal cost options
c. Price(s) and volume(s)
Price Volume Price Volume
1 pence each 101,075 1 pence each 92,475
d. Aggregated information n/a
- Aggregated Volume
n/a n/a
- Price
n/a
e. Date of the transaction 2 August 2022 2 August 2022
f. Place of the transaction Off market Off market
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
596/2014
1 Details of the person discharging managerial responsibilities/person closely
associated
a. Name Michelle Brook Philip Gee
2 Reason for notification
a. Position/Status Financial Services Director, Managing Director,
Belvoir Group PLC
Northwood GB Limited
b. Initial notification/ Initial Notification Initial Notification
Amendment
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Belvoir Group PLC Belvoir Group PLC
b. LEI N/A 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 Options over Ordinary Shares of 1 pence each Options over Ordinary Shares of 1 pence each
Identification Code
n/a n/a
b. Nature of the transaction Grant of nominal cost options Grant of nominal cost options
c. Price(s) and volume(s)
Price Volume Price Volume
1 pence each 58,065 1 pence each 8,000
d. Aggregated information n/a n/a
- Aggregated Volume
n/a n/a
- Price
e. Date of the transaction 2 August 2022 2 August 2022
f. Place of the transaction Off market Off market
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
596/2014
1 Details of the person discharging managerial responsibilities/person closely
associated
a. Name David Spackman Ian Maclean
2 Reason for notification
a. Position/Status Managing Director, Franchise Director,
Newton Fallowell Limited
Belvoir Property Management (UK) Limited
b. Initial notification/ Initial Notification Initial Notification
Amendment
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Belvoir Group PLC Belvoir Group PLC
b. LEI N/A 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 Options over Ordinary Shares of 1 pence each Options over Ordinary Shares of 1 pence each
Identification Code
n/a n/a
b. Nature of the transaction Grant of nominal cost options Grant of nominal cost options
c. Price(s) and volume(s)
Price Volume Price Volume
1 pence each 8,000 1 pence each 8,000
d. Aggregated information n/a
- Aggregated Volume
n/a n/a
- Price
n/a
e. Date of the transaction 2 August 2022 2 August 2022
f. Place of the transaction Off market Off market
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
596/2014
1 Details of the person discharging managerial responsibilities/person closely
associated
a. Name Julie Wilson Tim Wood
2 Reason for notification
a. Position/Status Group Financial Controller, Financial Services Director,
Belvoir Group PLC
Brook Financial Services Ltd
b. Initial notification/ Initial Notification Initial Notification
Amendment
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Belvoir Group PLC Belvoir Group PLC
b. LEI N/A 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 Options over Ordinary Shares of 1 pence each Options over Ordinary Shares of 1 pence each
Identification Code
n/a n/a
b. Nature of the transaction Grant of nominal cost options Grant of nominal cost options
c. Price(s) and volume(s)
Price Volume Price Volume
1 pence each 6,050 1 pence each 6,050
d. Aggregated information n/a
- Aggregated Volume
n/a n/a
- Price
n/a
e. Date of the transaction 2 August 2022 2 August 2022
f. Place of the transaction Off market Off market
For further details:
Belvoir Group PLC 01476 584900
Dorian Gonsalves, Chief Executive Officer investorrelations@belvoirgroup.com
Louise George, Chief Financial Officer
www.belvoirgroup.com (https://www.belvoirgroup.com/)
finnCap +44 (0) 20 7220 0500
Julian Blunt, Teddy Whiley (Corporate Finance)
Tim Redfern (ECM)
www.finncap.com (http://www.finncap.com)
Buchanan +44 (0) 20 7466 5000
Charles Ryland & Kim van Beeck
Notes:
About Belvoir Group PLC
Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir operates a
nationwide property franchise Group with 463 offices across seven brands
specialising in residential lettings, property management, residential sales
and property-related financial services. With its Central Office in Grantham,
Lincolnshire, the Group manages 72,900 properties and reported record revenues
of £29.6m in 2021 marking Belvoir's 25th year of unbroken profit growth.
For further information, please visit: www.belvoirgroup.com
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