REG - Churchill China PLC - Grant of Options under LTIP
22/06/2023 18:30
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RNS Number : 6563D Churchill China PLC 22 June 2023
For immediate release 22 June 2023
CHURCHILL CHINA plc
("Churchill" or the "Company" or the "Group")
Grant of Options under LTIP
Churchill China plc (AIM: CHH), the manufacturer of innovative performance
ceramic products serving hospitality markets worldwide, announces that on 21
June 2023, the following options over 10p ordinary shares in the Company
("Ordinary Shares") were granted to persons discharging managerial
responsibilities ("PDMRs") 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 24,425 10p 1,375p
James Roper Sales and Marketing Director 18,945 10p 1,375p
Michael Cunningham Chief Financial Officer 14,545 10p 1,375p
In addition, 30,096 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 2025 reaches the following figures for each level of vesting:
Adjusted EPS for year ending 31 December 2025 % of Grant that Vests
81.0 25%
90.0 40%
94.5 100%
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 21 June 2026.
The Grant values represent 100 per cent of the current base annual salary for
each of David O'Connor, James Roper and Michael Cunningham.
Resultant Holdings
Following the Grants, David O'Connor, James Roper and Michael Cunningham hold
options over Ordinary Shares as follows:
Director Options Held Option Exercise Price Expiry Date
David O'Connor 21,977 10p 28.06.2032
David O'Connor 17,856 10p 11.06.2031
David O'Connor 24,425 10p 21.06.2033
James Roper 17,046 10p 28.06.2032
James Roper 13,641 10p 11.06.2031
James Roper 18,945 10p 21.06.2033
Michael Cunningham 14,545 10p 21.06.2033
For further information, please contact:
Churchill China plc Tel: 01782 577566
David O'Connor / James Roper / Michael Cunningham
Buchanan Tel: 020 7466 5000
Mark Court / Abigail Gilchrist
ChurchillChina@buchanan.uk.com
Investec Tel: 020 7597 (Tel:020%207597) 5970
David Flin / Alex Wright / William Brinkley
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/ Initial Notification
Amendment
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 10p each
Identification Code ISIN: GB0001961035
b. Nature of the transaction Grant of options
c. Price(s) and volume(s) Price(s) Volume(s)
10p 14,545
d. Aggregated information
N/A - Single Transaction
e. Date of the transaction 21/06/2023
f. Place of the transaction Off market
d.
Aggregated information
N/A - Single Transaction
e.
Date of the transaction
21/06/2023
f.
Place of the transaction
Off market
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/ Initial Notification
Amendment
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 10p each
Identification Code ISIN: GB0001961035
b. Nature of the transaction Grant of Options
c. Price(s) and volume(s) Price(s) Volume(s)
10p 24,425
d. Aggregated information
N/A - Single Transaction
e. Date of the transaction 21/06/2023
f. Place of the transaction Off market
d.
Aggregated information
N/A - Single Transaction
e.
Date of the transaction
21/06/2023
f.
Place of the transaction
Off market
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/ Initial Notification
Amendment
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 10p each
Identification Code ISIN: GB0001961035
b. Nature of the transaction Grant of Options
c. Price(s) and volume(s) Price(s) Volume(s)
10p 18,945
- Transaction 1
d. Aggregated information
N/A - Single Transaction
e. Date of the transaction 21/06/2023
f. Place of the transaction Off market
d.
Aggregated information
N/A - Single Transaction
e.
Date of the transaction
21/06/2023
f.
Place of the transaction
Off market
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