REG - H&T Group PLC - Performance Share Plan ("PSP") 2022

H & TAnnouncement

30/05/2022 07:15

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RNS Number : 1130N  H&T Group PLC  30 May 2022

30th May 2022

 

H&T Group plc

("H&T", the "Company" or the "Group")

(AIM: HAT)

 

Performance Share Plan ("PSP") 2022

 

H&T Group plc announces the adoption of its 2022 Performance Share Plan
("PSP") which has been approved by the Remuneration Committee. Further details
on the scheme, which will apply to senior management and Executive Directors
of the Company, are set out below.

 

In accordance with the rules of the PSP, eligible employees will be entitled
to acquire a maximum number of Ordinary Shares ('Award Shares') on or after 31
December 2024 at nil price, subject to the Company achieving the minimum
reported performance criteria.

 

Summary details set out below:

 2022 Grant              The grants of shares are a proportion of salary as follows:

                         ·    Executive Directors -100% of base salary

                         ·   Christopher Gillespie, CEO: 112,657

                         ·   Diane Giddy, CFO: 81,767

                         ·    Senior management - 35% to 75% of base salary

 Performance period      The performance period for the 2022 grant is 1 January 2022 to

31 December 2024 (3 years).

 Vesting                 The scheme is planned to vest at the end of 2024.

 Performance conditions  The scheme is split equally based on targets for total shareholder return
                         (TSR) and growth in basic earnings per share (EPS) measured over the
                         three-year performance period.

                         The minimum, target and maximum thresholds, with reference to growth over 2021
                         or the share price as at 31 December 2021, are:

Measure     Minimum  Target  Maximum
                         TSR         65%      76%     91%
                         EPS growth  117%     137%    164%

 

                         For performance below the minimum no award will vest, at the minimum 30%
                         (2021: 20%) of the award will vest, at the target 50% of the award will vest,
                         and at or above the maximum 100% (2021: 100%) of the award will vest.  A
                         sliding scale of vesting, on a straight-line basis applies between the
                         minimum, target and maximum TSR and EPS targets.

 Share retention period  Executive Directors are subject to a two-year share retention period for
                         shares awarded under the scheme.

 Further conditions      Award Shares will be released on 31 December 2024 subject to continued
                         employment and the satisfaction of certain specific performance conditions.
                         The awards are further subject to claw back and malus provisions.

 

 

For performance below the minimum no award will vest, at the minimum 30%
(2021: 20%) of the award will vest, at the target 50% of the award will vest,
and at or above the maximum 100% (2021: 100%) of the award will vest.  A
sliding scale of vesting, on a straight-line basis applies between the
minimum, target and maximum TSR and EPS targets.

 

 

Share retention period

Executive Directors are subject to a two-year share retention period for
shares awarded under the scheme.

 

Further conditions

Award Shares will be released on 31 December 2024 subject to continued
employment and the satisfaction of certain specific performance conditions.
The awards are further subject to claw back and malus provisions.

 

 

 

 

 

H&T Group plc

Tel: 020 8225 2797

Chris Gillespie, Chief Executive

 

Shore Capital (Nominated Adviser and Broker)

Tel: 020 7408 4090

Stephane Auton/Iain Sexton (Corporate Advisory)

Guy Wiehahn/ Chloë Booker-Triolo (Corporate Broking)

 

Haggie Partners (Public Relations)

Tel: 020 7562 4444

Damian Beeley

 

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Chris Gillespie

 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                                                         H&T Group plc

 b)   LEI                                                          2138006N2X1XSBSDSU74

 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  H&T Group plc ordinary shares of 5 pence

      Identification code

                                                                   GB00B12RQD06
 b)   Nature of the transaction                                    Award of Options under Performance Share Plan

 c)   Price(s) and volume(s)

Price(s)  Volume(s)

                                                                   Nil       112,657

 d)   Aggregated information                                       N/A (single transaction)

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      N/A

 f)   Place of the transaction                                     London Stock Exchange, AIM Market (XLON)

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/A (single transaction)

e)

 

Date of the transaction

 

 

N/A

f)

 

Place of the transaction

 

 

London Stock Exchange, AIM Market (XLON)

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Diane Giddy

 2    Reason for the 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                                                         H&T Group plc

 b)   LEI                                                          2138006N2X1XSBSDSU74

 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  H&T Group plc ordinary shares of 5 pence

      Identification code

                                                                   GB00B12RQD06
 b)   Nature of the transaction                                    Award of Options under Performance Share Plan

 c)   Price(s) and volume(s)

Price(s)  Volume(s)

                                                                   Nil       81,767

 d)   Aggregated information                                       N/A (single transaction)

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      N/A

 f)   Place of the transaction                                     London Stock Exchange, AIM Market (XLON)

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

N/A (single transaction)

e)

 

Date of the transaction

 

 

N/A

f)

 

Place of the transaction

 

 

London Stock Exchange, AIM Market (XLON)

 

 

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