REG - CT Automotive Group - Grant of awards under Long Term Incentive Plan

CT AutomotiveAnnouncement

02/02/2024 07:00

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RNS Number : 8429B  CT Automotive Group PLC  02 February 2024

 

CT Automotive Group plc (the "Company")

Grant of awards under Long Term Incentive Plan

 

CT Automotive Group plc announces that on 1 February 2024, the Company
awarded 374,999 nominal cost options under the CT Automotive Long Term
Incentive Plan 2022 to certain senior executives, including its Chief
Executive Officer (as set out in the table below). The award is over ordinary
shares of £0.005 ("Ordinary Shares") in the form of options to acquire
Ordinary Shares at nominal value ("LTIP Awards").

 

 Executive       Role                                  Number of LTIP Awards
 Simon Phillips  Chief Executive Officer and Director  134,146

 

The LTIP Awards to senior executives will vest on the third anniversary of
grant subject to meeting earnings per share performance criteria for the three
year period ending FY2025. 25% of the LTIP Awards will vest on meeting minimum
performance criteria, with vesting thereafter on a straight-line basis.

In addition, the Company awarded 97,560 nominal cost options under the same
plan to certain senior managers. These awards vest on the third anniversary of
grant subject to continued employment and no further performance conditions.

For further information, please contact:

 CT Automotive                             via MHP

 Simon Phillips, Chief Executive Officer

 MHP (Financial PR)                        Tel: +44 (0)20 3100 8540

 Tim Rowntree                              CTAutomotive@mhpgroup.com

 Charlie Barker

 Liberum (Nominated Adviser and Broker)    Tel: +44 (0)20 3100 2000

 Richard Lindley

 Benjamin Cryer

 

The information set out below is provided in accordance with the requirements
of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014:

 1    Details of the person discharging managerial responsibilities/person closely
      associated
 (a)  Name                                                         Simon Phillips
 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                                                         CT Automotive Group plc
 (b)  LEI                                                          213800RP7B4UJ1DDKY67
 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  Options over Ordinary shares of £0.005 pence each

      Identification code                                          ISIN GB00BMHYGR77

 (b)  Nature of the transaction                                    Award of options pursuant to CT Automotive Group plc 2022 Long Term Incentive
                                                                   Plan
 (c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                        NIL       134,146

 (d)  Aggregated information                                       N/A

      -         Aggregated volume

      -         Price
 (e)  Date of the transaction                                      1 February 2024
 (f)  Place of the transaction                                     Outside a trading venue

(d)

Aggregated information

-         Aggregated volume

-         Price

N/A

(e)

Date of the transaction

1 February 2024

(f)

Place of the transaction

Outside a trading venue

 

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