REG - Churchill China PLC - PDMR Dealing - Grant of Options <Origin Href="QuoteRef">CHCH.L</Origin>

Churchill ChinaAnnouncement

05/05/2017 07:06

RNS Number : 2571E
Churchill China PLC
04 May 2017
Churchill China plc (the "Company")
PDMR Dealing - Grant of Options under LTIP
Grant of Share Options
On 04 May 2017, 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") for nil consideration: 
Director
Position
Number of options over Ordinary Shares granted
Exercise Price
Market Price at Date of Grant
David O'Connor
Chief Executive Officer
15,179
10p
1,047.5p
David Taylor
Finance Director
11,685
10p
1,047.5p
James Roper
Sales and Marketing Director
9,737
10p
1,047.5p
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 2019reaches the following figures for each level of vesting:
Adjusted EPS for year ending 31 December 2019
% Increase on 2016
% of Grant that Vests
61.9p
26%
25%
65.2p
33%
40%
68.5p
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 2020.
The Adjusted EPS for the base year 2016 has been calculated as 49.0p excluding the net effect of pension fund interest charges.
The Grant values represent 60 per cent of current base salary for each participant.
Resultant Holdings
Following the Grant of new options set out above:
David O'Connor is interested in 41,613 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
15,179
10p
02.05.2027
12,698
10p
16.05.2026
16,804
10p
07.05.2025
17,571
10p
01.05.2024
David Taylor is interested in 54,489 Ordinary Shares representing 0.5 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
11,685
10p
02.05.2027
10,159
10p
16.05.2026
14,123
10p
07.05.2025
16,580
10p
01.05.2024
James Roper is interested in 1,052,500 Ordinary Shares representing 9.6 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
9,737
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) 

Price(s)
Volume(s)

10 pence
15,179

d) 
Aggregated information 
n/a


- Aggregated volume



- Price



e) 
Date of the transaction 
4 May 2017
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) 

Price(s)
Volume(s)

10 pence
11,685

d) 
Aggregated information 
n/a


- Aggregated volume



- Price



e) 
Date of the transaction 
4 May 2017
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) 

Price(s)
Volume(s)

10 pence
9,737

d) 
Aggregated information 
n/a


- Aggregated volume



- Price



e) 
Date of the transaction 
4 May 2017
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 / James White
+44 (0)20 7496 3000


Buchanan

Mark Court /Sophie Cowles /Jane Glover 
+44(0)20 7466 5000

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