REG - Johnson Service Grp. - Director/PDMR Shareholding

Johnson ServiceAnnouncement

08/03/2023 16:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230308:nRSH3423Sa&default-theme=true

RNS Number : 3423S  Johnson Service Group PLC  08 March 2023

8 March 2023

AIM: JSG

Johnson Service Group PLC

PDMR Shareholding - Grant of Share Options

 

Johnson Service Group PLC (the "Company") announces that it has today granted
nil cost options over ordinary shares of 10 pence each in the Company under
the Johnson Service Group 2018 Long-Term Incentive Plan ("2018 LTIP Scheme")
(the "2023 LTIP Award").

In addition, linked awards were granted on the same date over ordinary shares
of 10 pence each in the Company under the Johnson Service Group 2018 Long-Term
Incentive Plan CSOP Section (the "2023 Approved LTIP Award") at an exercise
price of 117.0 pence each.

The number of options granted to each of the Executive Directors are as
follows:

                               No. of Options Granted
 Executive Director  Position  2023 LTIP     2023 Approved LTIP Award

                               Award
 Peter Egan          CEO       487,934       25,641
 Yvonne Monaghan     CFO       322,228       25,641

The 2023 LTIP Award options may be exercised on or after 8 March 2026, subject
to the satisfaction of performance conditions over the three financial years
ending 31 December 2025 and are exercisable up to ten years from the date of
grant.

Performance Conditions and Vesting

In determining the applicable performance conditions, the Remuneration
Committee has taken into account the Group's business plan as well as the
outlook for the sector, general macroeconomic conditions and, to the extent
available, the range of analysts' consensus forecasts for the financial year
ending 31 December 2025. Following careful consideration, the Remuneration
Committee has agreed two separate performance targets. The specific
performance conditions are set out below.

Adjusted Profit Before Tax per Share

50 per cent of the 2023 LTIP Award will vest by reference to the Company's
adjusted profit before tax ("PBT") per share as at 31 December 2025.  None of
the PBT per share element of the 2023 LTIP Award will vest if PBT per share
growth is less than 5 per cent per annum above the level of PBT per share for
the financial year ended 31 December 2022. One quarter of this element will
vest for PBT per share growth of 5 per cent per annum above the PBT per share
for the financial year ended 31 December 2022, and the whole of this element
will vest for PBT per share growth of 10 per cent per annum or greater above
the PBT per share for the financial year ended 31 December 2022. Vesting will
be on a straight-line basis if PBT per share growth is between 5 per cent and
10 per cent per annum.

Total Shareholder Return

The remaining 50 per cent of the 2023 LTIP Award will vest by reference to the
annualised growth in the Company's net return index ("TSR") over the
performance period relative to the annualised growth in the FTSE AIM All-Share
Industrial Goods and Services net return index (the "Index") over the
performance period.  None of this element of the 2023 LTIP Award will vest if
the TSR growth is less than the Index growth, one quarter will vest if the TSR
growth is equal to the Index growth and the whole of this element of the 2023
LTIP Award will vest if the TSR growth is at least seven per cent above the
Index growth.  Vesting will be on a straight-line basis between these points.

Linked Award

The 2023 Approved LTIP Award has been granted to allow, where possible, the
participant to receive part of the gain which may have been received under the
2023 LTIP Award tax efficiently.  The participant will receive the same gross
gain as they would have received had they only been granted the 2023 LTIP
Award and not been granted the 2023 LTIP Award and the linked 2023 Approved
LTIP Award.  At the time of exercise, to the extent that there is a gain on
the 2023 Approved 2023 LTIP Award, the options granted under the 2023 LTIP
Award will be forfeited to the same value.

Further Holding Period

The 2023 LTIP Award is subject to an additional holding period of two years
from the date on which the 2023 LTIP Award vests (the "Holding
Period"). During the Holding Period, the 2023 LTIP Award holder may not
normally dispose of any of the shares which vest except to cover any income
tax or social security contributions arising on the exercise of the 2023 LTIP
Award.

Malus, Clawback and Remuneration Committee Discretion

The 2023 LTIP Award will be subject to the 2018 LTIP Scheme rules. In line
with its Remuneration Policy, the Remuneration Committee can apply malus and
clawback provisions to the 2023 LTIP Award and has discretion to vary
formulaic outturns where they do not reflect underlying performance or are
inappropriate in the context of unexpected or unforeseen circumstances.

 

 Enquiries:
 Johnson Service Group PLC

 Peter Egan, CEO

 Yvonne Monaghan, CFO

 Tel:  01928 704 600

 Investec Investment Banking (NOMAD)  Camarco (Financial PR)

 David Flin                           Ginny Pulbrook

 Carlton Nelson                       Rosie Driscoll

 Virginia Bull                        Letaba Rimell

 Tel:  020 7597 5970                  Tel:  020 3757 4992 / 4981

 

 

 

About Johnson Service Group PLC

www.jsg.com (http://www.jsg.com/)

 

Headquartered in Preston Brook, Cheshire, JSG provides textile services
across the UK.  The Group is a leading supplier of workwear and protective
wear in the UK and also provides premium linen services for the hotel,
catering and hospitality markets. With its core values of quality, reliability
and service, the Group aims to provide customers with an outstanding level of
customer care.

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                           Peter Egan

 2.  Reason for the Notification
 a)  Position / Status                              Chief Executive Officer / PDMR

 b)  Initial Notification / Amendment               Initial notification

 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Entity legal name                              Johnson Service Group PLC

 b)  Entity LEI                                     2138004WZUPWV53KWV11

 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 securities                  Options over ordinary shares of 10 pence each

     Identification code                            GB0004762810

 b)  Nature of the transaction                      Grant of options

 c)  Individual transaction price(s) and volume(s)  Price  Volume

                                              £nil   487,934

 d)  Aggregated price and volume                    Grant of 487,934 options over ordinary shares of 10 pence each at an exercise

                                              price of £nil

 e)  Date of the transaction                        8 March 2023

 f)  Place of the transaction                       Outside of a trading platform

d)

Aggregated price and volume

 

Grant of 487,934 options over ordinary shares of 10 pence each at an exercise
price of £nil

e)

Date of the transaction

 

8 March 2023

f)

Place of the transaction

 

Outside of a trading platform

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                           Peter Egan

 2.  Reason for the Notification
 a)  Position / Status                              Chief Executive Officer / PDMR

 b)  Initial Notification / Amendment               Initial notification

 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Entity legal name                              Johnson Service Group PLC

 b)  Entity LEI                                     2138004WZUPWV53KWV11

 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 securities                  Options over ordinary shares of 10 pence each

     Identification code                            GB0004762810

 b)  Nature of the transaction                      Grant of options

 c)  Individual transaction price(s) and volume(s)  Price        Volume

                                              117.0 pence  25,641

 d)  Aggregated price and volume                    Grant of 25,641 options over ordinary shares of 10 pence each at an exercise

                                              price of 117.0 pence

 e)  Date of the transaction                        8 March 2023

 f)  Place of the transaction                       Outside of a trading platform

d)

Aggregated price and volume

 

Grant of 25,641 options over ordinary shares of 10 pence each at an exercise
price of 117.0 pence

e)

Date of the transaction

 

8 March 2023

f)

Place of the transaction

 

Outside of a trading platform

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                           Yvonne Monaghan

 2.  Reason for the Notification
 a)  Position / Status                              Chief Financial Officer / PDMR

 b)  Initial Notification / Amendment               Initial notification

 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Entity legal name                              Johnson Service Group PLC

 b)  Entity LEI                                     2138004WZUPWV53KWV11

 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 securities                  Options over ordinary shares of 10 pence each

     Identification code                            GB0004762810

 b)  Nature of the transaction                      Grant of options

 c)  Individual transaction price(s) and volume(s)  Price  Volume

                                              £nil   322,228

 d)  Aggregated price and volume                    Grant of 322,228 options over ordinary shares of 10 pence each at an exercise

                                              price of £nil

 e)  Date of the transaction                        8 March 2023

 f)  Place of the transaction                       Outside of a trading platform

d)

Aggregated price and volume

 

Grant of 322,228 options over ordinary shares of 10 pence each at an exercise
price of £nil

e)

Date of the transaction

 

8 March 2023

f)

Place of the transaction

 

Outside of a trading platform

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                           Yvonne Monaghan

 2.  Reason for the Notification
 a)  Position / Status                              Chief Financial Officer / PDMR

 b)  Initial Notification / Amendment               Initial notification

 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Entity legal name                              Johnson Service Group PLC

 b)  Entity LEI                                     2138004WZUPWV53KWV11

 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 securities                  Options over ordinary shares of 10 pence each

     Identification code                            GB0004762810

 b)  Nature of the transaction                      Grant of options

 c)  Individual transaction price(s) and volume(s)  Price        Volume

                                              117.0 pence  25,641

 d)  Aggregated price and volume                    Grant of 25,641 options over ordinary shares of 10 pence each at an exercise

                                              price of 117.0 pence

 e)  Date of the transaction                        8 March 2023

 f)  Place of the transaction                       Outside of a trading platform

d)

Aggregated price and volume

 

Grant of 25,641 options over ordinary shares of 10 pence each at an exercise
price of 117.0 pence

e)

Date of the transaction

 

8 March 2023

f)

Place of the transaction

 

Outside of a trading platform

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHBLGDXRGGDGXI