REG - Churchill China PLC - Grant of Options

Churchill ChinaAnnouncement

04/05/2018 16:10

2018-05-04T15:06:49.426Zreuters.comtag:reuters.com,2018-05-04:newsml_RSD2298Na:13TXT
This file is provided for EAP sample purposes only; it's structure and detail are subject to change, and should not be used as a definitive reference for actual development and processing.2018-05-04T15:06:49.426Z2018-05-04T15:06:49.426Z____UCDP:parsn_lse_10.54.4.69_1.2.37235:2019-06-04T15:06:49.426Z3RSD2298NaREG - Churchill China PLC  - Grant of OptionsTools & Housewares (TRBC level 5)LEGACY: Household Goods (TRBC)Consumer Cyclicals (TRBC level 1)Cyclical Consumer Products (TRBC level 2)Household Goods (TRBC level 3)LEGACY: Cyclical Consumer Goods & Services (TRBC)LEGACY: Cyclical Consumer Products (TRBC)Appliances, Tools & Housewares (TRBC level 4)Western EuropeUnited KingdomEuropeSuggested SourcesConsumer Products and ServicesConsumer ProductsNews AnnouncementsRegulatory Corporate News AnnouncementsCompany NewsEurope daily earnings hits & missesChurchill China PLC








RNS Number : 2298N
Churchill China PLC
04 May 2018
 

4  May 2018
 
 
 
 
Churchill China plc (the "Company")
 
Grant of Options under LTIP
 
 
Grant of Share Options
 
On 4 May 2018, the following options over 10p ordinary shares in the Company ("Ordinary Shares") were granted under the Churchill China Long Term Incentive Plan ("CCLTIP") (the "Grants"):
 




Director


Position


Number of options over Ordinary Shares granted


Exercise Price


Market Price at Date of Grant




David O'Connor


Chief Executive Officer


14,570


10p


1,117.5p




David Taylor


Finance Director


11,216


10p


1,117.5p




James Roper


Sales and Marketing Director


9,347


10p


1,117.5p




 
The Grants are subject to the achievement of performance conditions as specified by the Remuneration Committee and are subject to claw back provisions in certain circumstances. The performance conditions require that the Company's adjusted (pre-exceptional items and adjusted for pension interest charges and credits) earnings per share ("Adjusted EPS") for the financial year ending 31 December 2020 reaches the following figures for each level of vesting:
 




Adjusted EPS for year ending 31 December 2020


% Increase on 2017


% of Grant that Vests




72.1p


26%


25%




75.9p


33%


40%




79.7p


40%


100%




 
Between these target levels, share options will vest on a straight line basis and shares will vest, subject to the achievement of these performance conditions, from 4 May 2021.
 
The Adjusted EPS for the base year 2017 has been calculated as 57.0p excluding the net effect of pension fund interest charges and exceptional items.
 
The Grant values represent 60 per cent of current base salary for each participant.
 
Resultant Holdings
 
Following Grant of new options set out above:
 
David O'Connor is interested in 48,520 Ordinary Shares representing 0.4 per cent. of the total issued share capital of the Company. David O'Connor also holds options over Ordinary Shares as follows:
 




Options Held


Option Exercise Price


Expiry Date




14,570


10p


04.05.2028




15,179


10p


02.05.2027




12,698


10p


16.05.2026




16,804


10p


07.05.2025




 
David Taylor is interested in 60,555 Ordinary Shares representing 0.6 per cent. of the total issued share capital of the Company. David Taylor also holds options over Ordinary Shares as follows:
 




Options Held


Option Exercise Price


Expiry Date




11,216


10p


04.05.2028




11,685


10p


02.05.2027




10,159


10p


16.05.2026




14,123


10p


07.05.2025




 
James Roper is interested in 1,034,835 Ordinary Shares representing 9.4 per cent. of the total issued share capital of the Company. James Roper also holds options over Ordinary Shares as follows:
 




Options Held


Option Exercise Price


Expiry Date




9,347


10p


04.05.2028




9,737


10p


02.05.2027




8,127


10p


16.05.2026




 





The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail:
 




1
 


Details of the person discharging managerial responsibilities / person closely associated
 




a)
 


Name
 
 


David O'Connor




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
 
 


Churchill China plc




b)
 


LEI
 
 


213800GQ51I4LZQ5AR09     




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


Ordinary shares of 10 pence each














Identification code


GB0001961035














b)
 


Nature of the transaction
 
 


Grant of options to acquire ordinary shares (exercise price of 10p)




c)
 


Price(s) and volume(s)


 


 


 


 








 


Exercise price(s)


Volume(s)


 








 


10 pence


14,570


 








 


 


 


 




d)
 


Aggregated information


n/a














- Aggregated volume


















- Price


















e)
 


Date of the transaction
 
 


4 May 2018




f)
 


Place of the transaction
 
 


Off market




 
 
 
 




1
 


Details of the person discharging managerial responsibilities / person closely associated
 




a)
 


Name
 
 


David 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
 
 


Churchill China plc




b)
 


LEI
 
 


213800GQ51I4LZQ5AR09     




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


Ordinary shares of 10 pence each














Identification code


GB0001961035














b)
 


Nature of the transaction
 
 


Grant of options to acquire ordinary shares (exercise price of 10p)




c)
 


Price(s) and volume(s)


 


 


 


 








 


Exercise price(s)


Volume(s)


 








 


10 pence


11,216


 








 


 


 


 




d)
 


Aggregated information


n/a














- Aggregated volume


















- Price


















e)
 


Date of the transaction
 
 


4 May 2018




f)
 


Place of the transaction
 
 


Off market




 




1
 


Details of the person discharging managerial responsibilities / person closely associated
 




a)
 


Name
 
 


James Roper
 




2
 


Reason for the notification
 




a)
 


Position/status
 
 


Sales and Marketing Director




b)
 


Initial notification /Amendment
 
 


Initial Notification




3
 


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




a)
 


Name
 
 


Churchill China plc




b)
 


LEI
 
 


213800GQ51I4LZQ5AR09     




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


Ordinary shares of 10 pence each














Identification code


GB0001961035














b)
 


Nature of the transaction
 
 


Grant of options to acquire ordinary shares (exercise price of 10p)




c)
 


Price(s) and volume(s)


 


 


 


 








 


Exercise price(s)


Volume(s)


 








 


10 pence


9,347


 








 


 


 


 




d)
 


Aggregated information


n/a














- Aggregated volume


















- Price


















e)
 


Date of the transaction
 
 


4 May 2018




f)
 


Place of the transaction
 
 


Off market




 
For further details, please contact:
 




Churchill China plc                                     








David Taylor, Finance Director


+44 (0)1782 577566














N+1 Singer (NOMAD & Broker)








Richard Lindley


+44 (0)20 7496 3000














Buchanan








Mark Court /Sophie Wills/Gemma Mostyn-Owen


+44(0)20 7466 5000




 



This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DSHEZLFBVEFBBBQ