Grant of Options under LTIP

Churchill China

20/05/2026 14:45

RNS Number : 1440F

Churchill China PLC

20 May 2026

 

20 May 2026

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 May 2026, 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
117,682
10p
310p
James Roper
Sales and Marketing Director
91,280
10p
310p
Michael Cunningham
Chief Financial Officer
75,687
10p
310p
Mark Revill
Chief Operating Officer
22,581
10p
310p

 

In addition, 116,210 Grants were made to employees who are non-PDMRs.

The Grants for the 3 executive directors, David O'Connor, James Roper and Michael Cunningham 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 2028 reaches the threshold with straight line vesting up to the maximum. For this metric 60% of the available options will vest:

Adjusted EPS for year ending 31 December 2028
% of Grant that Vests
42.4
25%
51.4
100%

 

A further 20% of the grant will vest on achieving targets on Return on Capital Employed, again these will vest on a straight line basis from threshold to maximum, with no vesting below the threshold level.

Average ROCE in 2028
% of Grant that Vests
9.3%
25%
11.3%
100%

 

Finally 20% of the grant will vest on achieving targets relating to free cash flow (FCF), threshold will be that FCF exceeds Operating profit over the 3 year period whilst the maximum will be achieved if FCF is 5% over operating profit. Again this will vest on a straight line basis.

Shares will vest subject to the achievement of these performance conditions, from 20 May 2029.

 

For further information, please contact:

Churchill China plc
Tel: 01782 577566
David O'Connor / James Roper / Michael Cunningham
Burson Buchanan
Tel: 020 7466 5000
Helen Tarbet / Sophie Wills / Abby Gilchrist
churchillchina@buchanan.uk.com
Investec Bank plc (Nominated Adviser and Joint Broker)
David Flin / Maria Gomez de Olea
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)
310.00p
75,687
d.
Aggregated information
N/a Single Transaction
e.
Date of the transaction
20/05/2026
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)
310.00p
117,682
d.
Aggregated information
N/a single Transaction
e.
Date of the transaction
20/05/2026
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)
310.00p
91,280
d.
Aggregated information
N/a single Transaction
e.
Date of the transaction
20/05/2026
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
Mark Revill
2
Reason for notification
a.
Position/Status
Chief Operating 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)
310.00p
22,581
d.
Aggregated information
N/a Single Transaction
e.
Date of the transaction
20/05/2026
f.
Place of the transaction
Outside of a trading venue

 

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