REG - LPA Group PLC - Performance Share Plan

LPAAnnouncement

26/07/2023 10:45

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RNS Number : 2724H  LPA Group PLC  26 July 2023

26 July 2023

LPA GROUP PLC

("LPA", the "Company" or the "Group")

Performance Share Plan

LPA Group Plc, the high reliability LED lighting, electronic and
electro-mechanical system designer, and manufacturer, announces the award of
share options over ordinary shares in the Company (the "Share Options") under
the LPA Group plc Performance Share Plan 2023 ("PSP 2023") to the following
directors ("the Award Holders"), as follows:

 

 Director         Position  Number of Options  Exercise Price  Total Number of Options held following this award
 Paul Curtis      CEO       130,000            50p             300,000
 Stuart Stanyard  CFO       125,000            50p             125,000
 Total Awards               255,000                            425,000

 

Under the terms of the PSP 2023, the Share Options are exercisable from 26
July 2026 subject to three increasingly targeted performance hurdles which are
related to earnings per share and market capitalisation. Following vesting
there is a one year holding period (excluding any ordinary shares sold to pay
tax due at exercise). The Share Options are subject to clawback and malus
provisions.

It is the expectation of the Company that the LPA Employee Benefits Trust (the
"EBT") will satisfy the awards when exercised. In the event that the EBT does
not satisfy the awards when exercised, the Company will do so through an issue
of new ordinary shares to the Award Holders.

As a result of the grant of the Share Options, there are now a total of
590,000 options over ordinary shares in place for directors and employees of
LPA.

 

Enquiries:

 LPA Group plc                                  +44 (0) 1799 512 800
 Robert B Horvath, Chairman
 Paul Curtis, Chief Executive Officer
 Stuart Stanyard, Chief Financial Officer

 finnCap (NOMAD and Broker)                     +44 (0) 20 7220 0500
 Ed Frisby / Abigail Kelly (Corporate Finance)
 Tim Redfern / Charlotte Sutcliffe (ECM)

 Hudson Sandler (Financial PR)                  +44 (0) 20 7796 4133  lpagroup@hudsonsandler.com
 Dan de Belder
 Nick Moore
 Harry Griffiths

 

About LPA

LPA Group plc (AIM: LPA) is a market leading designer, manufacturer and
supplier of high reliability LED lighting, electronic and electro-mechanical
systems, and a distributor of engineered components.

Focused on transport (rail and aviation), defence, infrastructure and
industrial markets and supplying into hostile and challenging environments,
LPA is known for engineering solutions to improve product reliability,
reducing maintenance and life cycle costs.

The Group has three sites across the UK, selling to customers in the UK and
overseas. Two of these are design and manufacturing sites: LPA Connection
Systems - electro-mechanical systems for rail, aviation and industrial, and
LPA Lighting Systems - LED lighting and electronic systems for rail and
infrastructure. The third site is LPA Channel Electric - a value added
distributer of engineered components for rail, aerospace and defence.

With over 160 years of UK design and manufacture, and with origins in the
first ever light installed in 'Electric Avenue', Brixton; innovation is core
to LPA and to the products and services supplied to our customers worldwide.

For more information visit www.lpa-group.com (http://www.lpa-group.com)

 

 

 

The information below (set out in accordance with the requirements of EU
Market Abuse Regulation) provides further detail:

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Paul Curtis
 2   Reason for the notification
 a)  Position/status                                              CEO
 b)  Initial notification /Amendment                              Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         LPA Group plc
 b)  LEI                                                              2138007S67YLDN6CEF21
 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  Ordinary shares of 10p each

     Identification code

                                                                  GB0007320806
 b)  Nature of the transaction                                    Issue of Options

 c)  Price(s) and volume(s)                                       Price(s)                    Volume(s)
     50p                                                                                      130,000
 d)  Aggregated information

     - Aggregated volume

     - Price                                                      N/A

 e)  Date of the transaction                                      26 July 2023
 f)  Place of the transaction                                     Outside a trading venue
 g)  Additional Information                                       N/A

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

Identification code

Ordinary shares of 10p each

 

GB0007320806

b)

Nature of the transaction

Issue of Options

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

50p

130,000

d)

Aggregated information

- Aggregated volume

- Price

 

 

N/A

 

e)

Date of the transaction

26 July 2023

f)

Place of the transaction

Outside a trading venue

g)

Additional Information

N/A

 

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         Stuart Stanyard
 2   Reason for the notification
 a)  Position/status                                              CFO
 b)  Initial notification /Amendment                              Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         LPA Group plc
 b)  LEI                                                              2138007S67YLDN6CEF21
 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  Ordinary shares of 10p each

     Identification code

                                                                  GB0007320806
 b)  Nature of the transaction                                    Issue of Options

 c)  Price(s) and volume(s)                                       Price(s)                    Volume(s)
     50p                                                                                      125,000
 d)  Aggregated information

     - Aggregated volume

     - Price                                                      N/A

 e)  Date of the transaction                                      26 July 2023
 f)  Place of the transaction                                     Outside a trading venue
 g)  Additional Information                                       N/A

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

Identification code

Ordinary shares of 10p each

 

GB0007320806

b)

Nature of the transaction

Issue of Options

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)

50p

125,000

d)

Aggregated information

- Aggregated volume

- Price

 

 

N/A

 

e)

Date of the transaction

26 July 2023

f)

Place of the transaction

Outside a trading venue

g)

Additional Information

N/A

 

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