REG - Lords Group Trading - Award of Options under LTIP and PDMR Dealing

Lords TradingAnnouncement

20/09/2023 07:00

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RNS Number : 9862M  Lords Group Trading PLC  20 September 2023

 For immediate release  20 September 2023

 

 

Lords Group Trading plc

('Lords', the 'Group' or the 'Company')

 

Award of Options under LTIP and PDMR Dealing

 

Lords, a leading distributor of building materials in the UK, announces that
the Group's Remuneration Committee has approved the award of nil cost options
over an aggregate of 276,073 new ordinary shares of 0.5 pence each in the
Company ('Ordinary Shares') under the terms of the Company's Long Term
Incentive Plan ('LTIP Award') to Chris Day, the Company's Chief Financial
Officer and Chief Operating Officer.  The LTIP Award will replace the expired
award granted to Chris Day under the Long Term Incentive Plan that was in
place at the time of the Group's IPO.

 

Award Performance Conditions

 

In line with the recognition of the importance of aligning Lord's management
team with the success of the Group in the medium and long-term, the LTIP Award
is subject to the following performance conditions, subject to Remuneration
Committee discretion:

 

The performance targets attached to the LTIP Award are based on adjusted
earnings per share and total shareholder return over a three-year performance
period from 1 January 2023 to 31 December 2025.

 

The Remuneration Committee has discretion to amend these terms to ensure that
any performance targets remain appropriate.

 

Change of Name of Nominated Adviser and Broker

 

The Company also announces that its Nominated Adviser and Broker has changed
its name to Cavendish Securities plc following completion of its own corporate
merger.

 

- Ends -

 

FOR FURTHER ENQUIRIES:

 

 Lords Group Trading plc                                         Via Buchanan
 Shanker Patel, Chief Executive Officer                          Tel: +44 (0) 20 7466 5000
 Chris Day, Chief Financial Officer and Chief Operating Officer

 Cavendish Securities plc (Nominated Adviser and Joint Broker)   Tel: +44 (0)20 7397 8900
 Ben Jeynes / Dan Hodkinson (Corporate Finance)
 Julian Morse / Henry Nicol (Sales)

 

 Berenberg (Joint Broker)                                     Tel: +44 (0)20 3207 7800

 Matthew Armitt / Richard Bootle / Detlir Elezi

 Buchanan Communications                                      Tel: +44 (0) 20 7466 5000
 Henry Harrison-Topham / Stephanie Whitmore / Abby Gilchrist  LGT@buchanan.uk.com (mailto:LGT@buchanan.uk.com)

 

Notes to editors:

Lords is a specialist distributor of building, plumbing, heating and DIY
goods.  The Group principally sells to local tradesmen, small to medium sized
plumbing and heating merchants, construction companies and retails directly to
the general public.  The Group operates through the following two divisions:

 

·    Merchanting: supplies building materials and DIY goods through its
network of merchant businesses and online platform capabilities.  It operates
both in the 'light side' (building materials and timber) and 'heavy side'
(civils and landscaping), through 31 locations in the UK.

 

·    Plumbing and Heating: a specialist distributor in the UK of plumbing
and heating products to a UK network of independent merchants, installers and
the general public. The division offers its customers an attractive
proposition through a multi-channel offering.  The division operates over 17
locations enabling nationwide next day delivery service.

 

Lords was established over 35 years ago as a family business with its first
retail unit in Gerrards Cross, Buckinghamshire.  Since then, the Group has
grown to a business operating from 48 sites.  Lords aims to become a £500
million turnover building materials distributor group by 2024 as it grows its
national presence.

 

Lords was admitted to trading on AIM in July 2021 with the ticker LORD.L. For
additional information please visit www.lordsgrouptradingplc.co.uk.

 

The following notifications are intended to satisfy the Company's obligations
under Article 19(3) of the Market Abuse Regulation.

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                                            Chris Day
 2   Reason for notification
 a)  Position/Status                                                                 CFO and COO
 b)  Initial notification/amendment                                                  Initial notification

 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                                            Lords Group Trading plc

 b)  LEI                                                                             9845009A4D87F1CE5145

 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 and identification  Nil cost share options
     code

                                                                                     ISIN: GB00BM9CLS53

 b)  Nature of transaction                                                           Conditional award of new ordinary shares pursuant to Lords Group LTIP

 c)  Price(s) and volume(s)                                                           Price(s)   Volume(s)
                                                                                     Nil         276,073
 d)  Aggregated information                                                          N/A

 e)  Date of transaction                                                              20/09/2023 

 f)  Place of transaction                                                            Outside of a trading venue

d)

Aggregated information

N/A

 

e)

Date of transaction

 20/09/2023 

 

f)

Place of transaction

Outside of a trading venue

 

 

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