REG - Churchill China PLC - Grant of Options under LTIP
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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 (mailto: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/ 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)
310.00p 75,687
- Transaction 1
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
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/ 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)
310.00p 117,682
- Transaction 1
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
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/ 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)
310.00p 91,280
- Transaction 1
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
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/ 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)
310.00p 22,581
- Transaction 1
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
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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