REG - Billington Holdings - Long Term Incentive Plan

Billington HoldingsAnnouncement

19/08/2019 13:45

RNS Number : 5201J
Billington Holdings PLC
19 August 2019
 


19 August 2019
Billington Holdings Plc
("Billington", the "Group" or the "Company")
 
Long Term Incentive Plan
 
The Company confirms today that its Remuneration Committee (the "Committee") has agreed a Long Term Incentive Plan (the "Plan" or "LTIP") in which the Committee can award ordinary shares to employees pursuant to terms of the Plan. The Company has worked with its professional advisors to ensure that this Plan is consistent with best practice in terms of structure and quantum.
 
Details of the Plan
 
No awards under the Plan shall be granted which would, at the time of grant, cause the number of shares granted, when added to the number of shares allocated in the previous 10 years to exceed such 10 per cent of the ordinary share capital of the Company in issue at that time.
 
The number of shares in respect of which awards may be granted to any person in any Financial Year shall not exceed such number as has a market value equal to one times the individual's salary or such other limit as the Remuneration Committee may, in exceptional circumstances, determine and which in any event shall not exceed such number of Shares as has a market value equal to two times salary.
In calculating the award to individuals, the market value of shares subject to an award shall be taken to be the middle-market quotation of such shares on the Dealing Day last preceding the award date.
 
The objective of the Plan is to ensure that the strategic objectives of the company align with those of the senior management and that the structure of the overall remuneration package assists in maximising shareholder value. Performance criteria related to the improvement in the trading performance of the Company are applicable to the award of shares. The full award of shares shall only be made should progression in Earnings per Share (EPS) be equal to or greater than 20% per annum over a three year horizon period.
 
Awards under the Plan
 
The following awards of ordinary shares have been made in this round of the Plan:
 



Name


Position


Ordinary share options granted under the Plan


Total direct shareholding in BILN


Total % direct Shareholding in BILN


Total number of options held


Total Potential % Shareholding including options




Mark Smith


Chief Executive Officer


68,966


5,000


0.039%


115,508


0.89%




Trevor Michael Taylor


Finance Director


51,724


6,000


0.046%


95,802


0.74%



 
 
 
These shares will be satisfied from the Billington Holdings Plc Employee Share Ownership Trust and it is not anticipated any new shares will be issued to satisfy the award of shares under the Plan.
 
The following notifications, made in accordance with the requirements of the EU Market Abuse Regulation, gives further details.
 
For further information please contact:
 
Billington Holdings Plc                                                                  Tel: 01226 340 666
Mark Smith, Chief Executive
Trevor Taylor, Finance Director
 
WH Ireland Limited                                                                        Tel: 020 7220 1666
Chris Hardie
James Sinclair-Ford
Jasper Berry
IFC Advisory Limited                                                                      Tel: 020 3934 6630
Tim Metcalfe                                                    
Miles Nolan                                                                      
Zach Cohen       
               




 
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


Mark Smith




2


Reason for the notification




a)


Position/status


Chief Executive Officer




b)


Initial notification/ Amendment


Initial Notification




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


Billington Holdings Plc




b)


LEI


213800MUHLXWQQ6MEN67




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 10p each
 
 
GB0000332667




b)


Nature of the transaction


Award under Long Term Incentive Plan




c)


Price(s) and volume(s)





Price(s)


Volume(s)




Nil


68,966








d)


Aggregated information
-     Aggregated volume
-     Price


 
68,966
Nil




e)


Date of the transaction


19 August 2019




f)


Place of the transaction


Off Market



 




 



1


Details of the person discharging managerial responsibilities/person closely associated




a)


Name


Trevor Michael Taylor




2


Reason for the notification




a)


Position/status


Finance Director




b)


Initial notification/ Amendment


Initial Notification




3


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


Billington Holdings Plc




b)


LEI


213800MUHLXWQQ6MEN67




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 10p each
 
 
GB0000332667




b)


Nature of the transaction


Award under Long Term Incentive Plan




c)


Price(s) and volume(s)





Price(s)


Volume(s)




Nil


51,724








d)


Aggregated information
-     Aggregated volume
-     Price


 
51,724
Nil




e)


Date of the transaction


19 August 2019




f)


Place of the transaction


Off Market



 




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