REG - H&T Group PLC - Performance Share Plan ("PSP") 2025

H & TAnnouncement

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RNS Number : 3940G  H&T Group PLC  28 April 2025

28 April 2025

 

H&T Group plc

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

(AIM: HAT)

 

Performance Share Plan ("PSP") 2025

 

H&T Group plc announces the adoption of its 2025 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 28
April 2028 at nil price, subject to the Company achieving the minimum reported
performance criteria.

 

Summary details set out below:

 2025 Grant              The grants of shares are a proportion of salary as follows:

·         Executive Directors -125% of base salary
                              ·                        Christopher Gillespie, CEO: 118,177
                              ·                        Diane Giddy, CFO: 85,773
                         ·         Senior management - 35% to 75% of base salary

 

                         The maximum total value of the shares granted to all recipients under the 2025
                         PSP is expected to be in the order of £1.7m, equivalent to circa 470,052
                         shares.

 Performance period      The performance period for the 2025 grant is 1st January 2025 to 30th
                         September 2027 (33 months).

 Vesting                 The scheme is planned to vest in April 2028.

 Performance conditions  The scheme is split equally (50/50) based on targets for total shareholder
                         return (TSR) and growth in basic earnings per share (EPS) measured over the 33
                         month performance period.

                         The minimum, target and maximum thresholds, with reference to growth over 2024
                         or the average share price over the 90 day period to the end of March 31
                         2025.

Measure     Minimum  Target  Maximum
                         TSR         30%      50%     100%
                         EPS growth  30%      50%     100%

 

                         For performance below the minimum no award will vest, at the minimum 30%
                         (2024: 30%) of the award will vest, at the target 50% of the award will vest
                         (2024: 50%), and at or above the maximum 100% (2024: 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 28 April 2028 subject to continued employment
                         and the satisfaction of certain specific performance conditions. The awards
                         are further subject to claw back and malus provisions.

 

The maximum total value of the shares granted to all recipients under the 2025
PSP is expected to be in the order of £1.7m, equivalent to circa 470,052
shares.

 

Performance period

The performance period for the 2025 grant is 1st January 2025 to 30th
September 2027 (33 months).

 

Vesting

The scheme is planned to vest in April 2028.

 

Performance conditions

The scheme is split equally (50/50) based on targets for total shareholder
return (TSR) and growth in basic earnings per share (EPS) measured over the 33
month performance period.

 

The minimum, target and maximum thresholds, with reference to growth over 2024
or the average share price over the 90 day period to the end of March 31
2025.

 

 Measure     Minimum  Target  Maximum
 TSR         30%      50%     100%
 EPS growth  30%      50%     100%

 

 

For performance below the minimum no award will vest, at the minimum 30%
(2024: 30%) of the award will vest, at the target 50% of the award will vest
(2024: 50%), and at or above the maximum 100% (2024: 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 28 April 2028 subject to continued employment
and the satisfaction of certain specific performance conditions. The awards
are further subject to claw back and malus provisions.

 

 

Enquiries:

 H&T Group plc                                            +44(0)20 8225 2700
 Chris Gillespie, Chief Executive Officer
 Diane Giddy, Chief Financial Officer
 Shore Capital Ltd (Nominated Adviser and Joint Broker)   +44(0)20 7408 4090
 Stephane Auton / Sophie Collins (Corporate Advisory)
 Guy Wiehahn (Corporate Broking)
 Canaccord Genuity Limited (Joint Broker)                 +44(0)20 7523 8000
 Stuart Andrews / George Grainger
 Alma Strategic Communications (PR)                       +44(0)20 3405 0205
 Sam Modlin                                               handt@almastrategic.com (mailto:handt@almastrategic.com)
 Andy Bryant
 Rebecca Sanders-Hewett
 Will Merison

 

 

 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       118,177

 d)   Aggregated information                                       N/A (single transaction)

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      28 April 2025

 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

 

 

28 April 2025

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       85,773

 d)   Aggregated information                                       N/A (single transaction)

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      28 April 2025

 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

 

 

28 April 2025

f)

 

Place of the transaction

 

 

London Stock Exchange, AIM Market (XLON)

 

 

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