REG - Brickability Group - Grant of Options
27/09/2024 07:00
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RNS Number : 9919F Brickability Group PLC 27 September 2024
Brickability Group PLC
LEI: 213800SK28MWXB3K3P26
27 September 2024
Brickability Group PLC
(the "Company" or the "Group")
Grant of Options
Brickability Group PLC, the leading construction materials distributor,
announces that on 25 September 2024 it awarded a total of 4,588,501 options to
subscribe for new ordinary shares in the Company under the Brickability Group
PLC Long Term Incentive Plan ("LTIP"). Of these, 3,310,385 are conditional
performance related options and include the following options granted to
Directors and Senior Management ("Management Options").
Individual Role Number of LTIP Options
Frank Hanna Chief Executive Officer 865,385
Mike Gant Chief Financial Officer 520,000
Paul Hamilton MD, Distribution 678,976
Richard Cosgrove MD, Bricks & Building Materials 215,385
Kenny Hirst-Sewell MD, Taylor Maxwell & Co 284,615
Alex Moffat MD, Taylor Maxwell Timber 208,025
The Management Options are exercisable on the same terms as previous options
granted under the Company's LTIP, each exercisable at the nominal price of 1
penny and have vesting conditions tied to adjusted EBITDA and total
shareholder return, with each award split equally between the two performance
conditions. Vesting will occur on a straight-line basis on achieving 18%
(equivalent to 6% annually) to 30% (equivalent to 10% annually) of the
relevant performance condition over the performance period. There is no
vesting if the relevant target is not met but a 25% vesting if the initial 18%
hurdle is met with a proportionate additional vesting up to 100% if the 30%
threshold is met. To the extent vested, the options will be subject to a
two-year holding period following the expiry of the performance period. The
performance period will be 1 April 2024 to 31 March 2027.
The balance of the options awarded (being 1,278,116) are restricted share
options which are being issued to a number of Group employees outside of the
senior management team. These are not subject to performance conditions or the
additional holding period but, as with all options awarded under the plan,
require that grantees remain in the Group's employment for the duration of the
vesting period being the period from 1 April 2024 to 31 March 2027.
Enquiries:
Brickability Group PLC via Montfort Communications
John Richards, Chairman
Frank Hanna, Chief Executive Officer
Mike Gant, Chief Financial Officer
Peel Hunt LLP (Nominated Adviser and Broker) +44 (0) 20 7418 8900
Ed Allsopp
Tom Graham
+44 (0) 203 514 0897
brickability@montfort.london
Montfort Communications
James Olley
Alex Everett
About Brickability
Brickability Group PLC is a leading distributor and provider of specialist
products and services to the UK construction industry. The business comprises
four divisions: Bricks and Building Materials, Importing, Distribution and
Contracting. With an agile, de-centralised, capital-light business model,
supported by a strong balance sheet, Brickability leverages the skills of its
people company-wide to effectively service the complex and evolving needs of
the construction industry.
Founded in 1985, the Group has grown organically through product
diversification and geographic expansion, as well as through the acquisition
of specialist businesses that support its long-term strategy for growth.
Today, the Group encompasses a diverse portfolio of market-leading brands and
a dedicated team of over 800 skilled professionals, led by a management team
with deep-rooted knowledge and experience in the UK and European construction
industries.
The Group is committed to building better communities throughout the supply
chain and supporting the delivery of sustainable developments that enhance the
built environment for future generations, while delivering continuous value
for shareholders.
The Company makes the following disclosures in accordance with article 19(3)
of the Market Abuse Regulation:
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Frank Hanna
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 Brickability Group PLC
b) LEI 213800SK28MWXB3K3P26
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 for Ordinary Shares exercisable at £0.01
Identification code GB00BK63S759
b) Nature of the transaction Grant of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
n/a 865,385
d) Aggregated information
- Aggregated volume n/a
- Price
e) Date of the transaction 25 September 2024
f) Place of the transaction Outside of a trading platform
d)
Aggregated information
- Aggregated volume
- Price
n/a
e)
Date of the transaction
25 September 2024
f)
Place of the transaction
Outside of a trading platform
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Mike Gant
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 Brickability Group PLC
b) LEI 213800SK28MWXB3K3P26
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 for Ordinary Shares exercisable at £0.01
Identification code GB00BK63S759
b) Nature of the transaction Grant of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
n/a 520,000
d) Aggregated information
- Aggregated volume n/a
- Price
e) Date of the transaction 25 September 2024
f) Place of the transaction Outside of a trading platform
d)
Aggregated information
- Aggregated volume
- Price
n/a
e)
Date of the transaction
25 September 2024
f)
Place of the transaction
Outside of a trading platform
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Paul Hamilton
2 Reason for the notification
a) Position/status MD, Distribution
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Brickability Group PLC
b) LEI 213800SK28MWXB3K3P26
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 for Ordinary Shares exercisable at £0.01
Identification code GB00BK63S759
b) Nature of the transaction Grant of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
n/a 678,976
d) Aggregated information
- Aggregated volume n/a
- Price
e) Date of the transaction 25 September 2024
f) Place of the transaction Outside of a trading platform
d)
Aggregated information
- Aggregated volume
- Price
n/a
e)
Date of the transaction
25 September 2024
f)
Place of the transaction
Outside of a trading platform
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Richard Cosgrove
2 Reason for the notification
a) Position/status MD, Bricks & Building Materials
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Brickability Group PLC
b) LEI 213800SK28MWXB3K3P26
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 for Ordinary Shares exercisable at £0.01
Identification code GB00BK63S759
b) Nature of the transaction Grant of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
n/a 215,385
d) Aggregated information
- Aggregated volume n/a
- Price
e) Date of the transaction 25 September 2024
f) Place of the transaction Outside of a trading platform
d)
Aggregated information
- Aggregated volume
- Price
n/a
e)
Date of the transaction
25 September 2024
f)
Place of the transaction
Outside of a trading platform
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Kenny Hirst-Sewell
2 Reason for the notification
a) Position/status MD, Taylor Maxwell & Co
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Brickability Group PLC
b) LEI 213800SK28MWXB3K3P26
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 for Ordinary Shares exercisable at £0.01
Identification code GB00BK63S759
b) Nature of the transaction Grant of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
n/a 284,615
d) Aggregated information
- Aggregated volume n/a
- Price
e) Date of the transaction 25 September 2024
f) Place of the transaction Outside of a trading platform
d)
Aggregated information
- Aggregated volume
- Price
n/a
e)
Date of the transaction
25 September 2024
f)
Place of the transaction
Outside of a trading platform
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Alex Moffat
2 Reason for the notification
a) Position/status MD, Taylor Maxwell Timber
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Brickability Group PLC
b) LEI 213800SK28MWXB3K3P26
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 for Ordinary Shares exercisable at £0.01
Identification code GB00BK63S759
b) Nature of the transaction Grant of Options
c) Price(s) and volume(s)
Price(s) Volume(s)
n/a 208,025
d) Aggregated information
- Aggregated volume n/a
- Price
e) Date of the transaction 25 September 2024
f) Place of the transaction Outside of a trading platform
d)
Aggregated information
- Aggregated volume
- Price
n/a
e)
Date of the transaction
25 September 2024
f)
Place of the transaction
Outside of a trading platform
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