New Long-Term Incentive Plan

Belvoir

01/07/2021 16:04

RNS Number : 9131D

Belvoir Group PLC

01 July 2021

 

1 July 2021

                                                           

This announcement contains inside information. 

 

BELVOIR!

             

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 nil cost options over 635,183 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: diluted earnings per share ("EPS"), adjusted to exclude exceptional items over the three years to 31 December 2023. 

 

A floor of 16.9p per share and a cap of 22.2p per share applies to the EPS Performance Condition; these represent growth over the three years of 15.8% and 52.1% respectively.  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                               247,347

Louise George                Chief Finance Officer, Belvoir Group PLC                                  207,122

Mark Newton                  Executive Director, Belvoir Group PLC                                      103,041

Michelle Brook                Managing Director, Brook Financial Services Ltd                           9,527

Philip Gee                       Managing Director, Northwood GB Limited                                    8,327

David Spackman            Manging Director, Newton Fallowell Limited                                   6,531

Ian Maclean                    Franchise Director, Belvoir Property Management (UK) Limited    6,531

Tim Wood                       Financial Services Director, Brook Financial Services Ltd              4,580

Julie Wilson                    Group Financial Controller, Belvoir Group PLC                               5,094

 

Immediately prior to these awards the Company's issued share capital was 36,231,162 ordinary shares and there were outstanding EMI options of 335,000, CSOP options of 334,589 and LTIP options of 644,727.

 

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,
 Belvoir Group PLC
Chief Financial Officer,
 Belvoir Group PLC
b.
Initial notification/
Amendment
Initial Notification
Initial Notification
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

 Identification Code
Ordinary Shares of 1 pence each
ISIN: GB00B4QY1P51
Ordinary Shares of 1 pence each
ISIN: GB00B4QY1P51
b.
Nature of the transaction
Grant of nil cost options
Grant of nil cost options
c.
Price(s) and volume(s)
Over Company's shares
Over Company's shares
Price
1 pence each
Volume
247,347
Price
1 pence each
Volume
207,122
d.
Aggregated information
- Aggregated Volume
- Price


n/a
n/a
n/a
n/a
e.
Date of the transaction
30 June 2021
30 June 2021
f.
Place of the transaction
London Stock Exchange
London Stock Exchange


 

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
Mark Newton
Michelle Brook
2
Reason for notification
a.
Position/Status
Executive Director,
 Belvoir Group PLC
Managing Director,
 Brook Financial Services Ltd
b.
Initial notification/
Amendment
Initial Notification
Initial Notification
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

 Identification Code
Ordinary Shares of 1 pence each
ISIN: GB00B4QY1P51
Ordinary Shares of 1 pence each
ISIN: GB00B4QY1P51
b.
Nature of the transaction
Grant of nil cost options
Grant of nil cost options
c.
Price(s) and volume(s)
Over Company's shares
Over Company's shares
Price
1 pence each
Volume
103,041
Price
1 pence each
Volume
9,527
d.
Aggregated information
- Aggregated Volume
- Price


n/a
n/a
n/a
n/a
e.
Date of the transaction
30 June 2021
30 June 2021
f.
Place of the transaction
London Stock Exchange
London Stock Exchange


 

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
Philip Gee
David Spackman
2
Reason for notification
a.
Position/Status
Managing Director,
 Northwood GB Limited
Managing Director,
 Newton Fallowell Limited
b.
Initial notification/
Amendment
Initial Notification
Initial Notification
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

 Identification Code
Ordinary Shares of 1 pence each
ISIN: GB00B4QY1P51
Ordinary Shares of 1 pence each
ISIN: GB00B4QY1P51
b.
Nature of the transaction
Grant of nil cost options
Grant of nil cost options
c.
Price(s) and volume(s)
Over Company's shares
Over Company's shares
Price
1 pence each
Volume
8,327
Price
1 pence each
Volume
6,531
d.
Aggregated information
- Aggregated Volume
- Price


n/a
n/a
n/a
n/a
e.
Date of the transaction
30 June 2021
30 June 2021
f.
Place of the transaction
London Stock Exchange
London Stock Exchange


 

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
Ian Maclean
Tim Wood
2
Reason for notification
a.
Position/Status
Franchise Director,
 Belvoir Property Management (UK) Limited
Financial Services Director,
 Brook Financial Services Ltd
b.
Initial notification/
Amendment
Initial Notification
Initial Notification
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

 Identification Code
Ordinary Shares of 1 pence each
ISIN: GB00B4QY1P51
Ordinary Shares of 1 pence each
ISIN: GB00B4QY1P51
b.
Nature of the transaction
Grant of nil cost options
Grant of nil cost options
c.
Price(s) and volume(s)
Over Company's shares
Over Company's shares
Price
1 pence each
Volume
6,531
Price
1 pence each
Volume
4,580
d.
Aggregated information
- Aggregated Volume
- Price


n/a
n/a
n/a
n/a
e.
Date of the transaction
30 June 2021
30 June 2021
f.
Place of the transaction
London Stock Exchange
London Stock Exchange


 

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
2
Reason for notification
a.
Position/Status
Group Financial Controller,
 Belvoir Group PLC
b.
Initial notification/
Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.
Name
Belvoir Group 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
ISIN: GB00B4QY1P51
b.
Nature of the transaction
Grant of nil cost options
c.
Price(s) and volume(s)
Over Company's shares
Price
1 pence each
Volume
5,094
d.
Aggregated information
- Aggregated Volume
- Price


n/a
n/a
e.
Date of the transaction
30 June 2021
f.
Place of the transaction
London Stock Exchange


 

For further details:

 

Belvoir Group PLC
Dorian Gonsalves, Chief Executive Officer
Louise George, Chief Financial Officer
www.belvoirgroup.com
01476 584900
investorrelations@belvoirgroup.com
finnCap
Julian Blunt & Teddy Whiley (Corporate Finance)
Tim Redfern (ECM)
www.finncap.com
+44 (0) 20 7220 0500
Buchanan
Charles Ryland, Victoria Hayns, Kim Looringh-van Beeck & Tilly Abraham
+44 (0) 20 7466 5000


Notes for editors:

About Belvoir Group PLC

Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir operates a nationwide property franchise group with 439 offices across six brands specialising in residential lettings, property management, residential sales and property-related financial services. With its Central Office in Grantham, Lincolnshire, the Group manages over 71,500 properties and reported record revenues of £21.7m in 2020 marking Belvoir's 24th year of unbroken profit growth.

For further information, please visit: www.belvoirgroup.com

 

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