Grant of Options under LTIP

Churchill China

20/06/2025 15:39

RNS Number : 8344N

Churchill China PLC

20 June 2025

 

20 June 2025

Churchill China plc

("Churchill China" or the "Company")

Grant of Options under LTIP

 

Churchill China plc (AIM: CHH), the manufacturer of innovative performance ceramic products serving hospitality markets worldwide, announces that on 20 June 2025, the following options over 10p Ordinary shares in the Company ("Ordinary Shares") were granted to persons discharging managerial responsibilities ("PDMR's") 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
55,666
10p
640p
James Roper
Sales and Marketing Director
43,177
10p
640p
Michael Cunningham
Chief Financial Officer
35,802
10p
640p

 

In addition, 72,068 Grants were made to employees who are non-PDMRs.

The Grants are subject to the achievement of performance criteria 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 2027 reaches the following figures for each level of vesting:

Adjusted EPS for year ending 31 December 2027
% of Grant that Vests
66.0
25%
73.36
40%
77.0
100%

 

Below the lowest level no share options will vest and between these target levels, share options will vest on a straight-line basis, shares will vest subject to the achievement of these performance conditions, from 19 June 2028.

 

For further information, please contact:

Churchill China plc
Tel: 01782 577566
David O'Connor / James Roper / Michael Cunningham
Burson Buchanan
Tel: 020 7466 5000
Mark Court / Sophie Wills / Abby Gilchrist
churchillchina@buchanan.uk.com
Investec Bank plc (Nominated Adviser and Joint Broker)
David Flin / Oliver Cardigan
Tel: 020 7597 5970
Panmure Liberum Limited (Joint Broker)
Tel: 020 3100 2000
Edward Thomas / John More


Notification and public disclosure of transactions by Persons Discharging Managerial Responsibilities ("PDMR") and persons closely associated with them ("PCA")

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
Michael Cunningham
2
Reason for 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
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

 Identification Code
Ordinary Shares of 10p each
ISIN:GB0001961035
b.
Nature of the transaction
Grant of options
c.
Price(s) and volume(s)
- Transaction 1
Price(s)
Volume(s)
640.00p
35,802
d.
Aggregated information
N/a Single Transaction
e.
Date of the transaction
20/06/2025
f.
Place of the transaction
Outside of a trading venue

 

 

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 O'Connor
2
Reason for 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

 Identification Code
Ordinary Shares of 10p each
ISIN:GB0001961035
b.
Nature of the transaction
Grant of Options
c.
Price(s) and volume(s)
- Transaction 1
Price(s)
Volume(s)
640.00p
55,666
d.
Aggregated information
N/a single Transaction
e.
Date of the transaction
20/06/2025
f.
Place of the transaction
Outside of a trading venue

 

 

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
James Roper
2
Reason for 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

 Identification Code
Ordinary Shares of 10p each
ISIN:GB0001961035
b.
Nature of the transaction
Grant of Options
c.
Price(s) and volume(s)
- Transaction 1
Price(s)
Volume(s)
640.00p
43,177
d.
Aggregated information
N/a single Transaction
e.
Date of the transaction
20/06/2025
f.
Place of the transaction
Outside of a trading venue

 

 

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