Michelmersh Brick - Grant of Option and PDMR dealings
02/05/2023 07:00
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RNS Number : 9784X Michelmersh Brick Holdings PLC 02 May 2023
2 May 2023
Michelmersh Brick Holdings Plc
("MBH", the "Company" or the "Group")
Grant of Option and PDMR dealings
Michelmersh Brick Holdings PLC (AIM: MBH), the specialist brick manufacturer,
announces an annual grant under the Company's Long Term Incentive Plan 2022 as
announced on 12 October 2022 (the "LTIP") to executive directors.
This year's grant (the "2023 Grant") will include three-year performance
targets linked to the delivery of EPS growth, total shareholder return
performance when benchmarked against a UK based industry peer group, and
delivery of ESG metrics. The 2023 Grant will equate to a value of 125% of
the basic salary of each executive director.
On 28 April 2023, options over 985,407 shares in aggregate were granted under
the 2023 Grant to executive directors as set out below:
Director Role Number of options granted
Frank Hanna Joint Chief Executive Officer 354,463
Peter Sharp Joint Chief Executive Officer 354,463
Ryan Mahoney Chief Financial Officer 276,481
The number of shares in respect of the 2023 Grant that may be issued following
the three-year performance period shall depend upon the extent to which growth
and other performance conditions are achieved over that period.
For further information, please contact:
Michelmersh Brick Holdings Plc Tel: +44 (0)1825 430 412
Frank Hanna, Joint Chief Executive Officer
Ryan Mahoney, Chief Financial Officer
Canaccord Genuity Limited (NOMAD and Joint Broker) Tel: +44 (0)20 7523 8000
Max Hartley
Bobbie Hilliam
Harry Pardoe
Berenberg (Joint Broker) Tel: +44 (0)20 3207 7800
Richard Bootle
Detlir Elizi
Yellow Jersey PR Tel: +44 (0)7747 788 221
Charles Goodwin Tel: +44 (0)7775 194 357
Annabelle Wills
About Michelmersh Brick Holdings PLC:
Michelmersh Brick Holdings PLC is a business with seven market leading brands:
Blockleys, Carlton, FabSpeed, Freshfield Lane, Michelmersh, Floren.be and
Hathern Terra Cotta. These divisions operate within a fully integrated
business, combining the production of premium, precision-made bricks, pavers,
special shaped bricks, bespoke Terra Cotta products and prefabricated brick
components. The Group also includes a landfill operator, New Acres Limited,
and seeks to develop future landfill and development opportunities on
ancillary land assets.
Established in 1997, the Company has grown through acquisition and organic
growth into a profitable and asset rich business, producing over 120 million
clay bricks and pavers per annum. Michelmersh currently owns most of the UK's
premium manufacturing brick brands and is a leading specification brick and
clay paving manufacturer.
Michelmersh strives to be a well invested, long term, sustainable,
environmentally responsible business. Opportunity, training and security for
all employees, whilst meeting the needs of stakeholders are at the forefront
of everything we do. We aim to lead the way in producing some of Britain's
premium clay products and enhancing our environment by adding value to the
architectural landscape for generations to come.
We are Michelmersh Brick Holdings PLC: we are "Britain's Brick Specialist".
Please visit the Group's websites at: www.mbhplc.co.uk
(http://www.mbhplc.co.uk/) and www.bimbricks.com (http://www.bimbricks.com)
1 Details of PDMR / person closely associated with them ('PCA')
a) Full Name Frank Hanna
2 Reason for the notification
a) Position / status Joint CEO
b) Initial notification / amendment Initial Notification
3 Details of the issuer, emission allowance market participation, auction
platform, auctioneer or auction monitor
a) Name Michelmersh Brick Holdings plc
b) LEI 213800CIFQFPAHIQE695
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 Ordinary shares of 20 pence each in the capital of the Company
Identification code ISIN: GB00B013H060
b) Nature of the transaction Grant of Nil-Cost Options under the Long Term Incentive Plan 2022
c) Price(s) and volume(s) Price: Nil
Volume: 354,463
d) Aggregated information N/A - single transaction
Aggregated volume and Price
e) Date of the transaction 28 April 2023
f) Place of the transaction Outside a trading venue
1 Details of PDMR / person closely associated with them ('PCA')
a) Full Name Peter Sharp
2 Reason for the notification
a) Position / status Joint CEO
b) Initial notification / amendment Initial Notification
3 Details of the issuer, emission allowance market participation, auction
platform, auctioneer or auction monitor
a) Name Michelmersh Brick Holdings plc
b) LEI 213800CIFQFPAHIQE695
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 Ordinary shares of 20 pence each in the capital of the Company
Identification code ISIN: GB00B013H060
b) Nature of the transaction Grant of Nil-Cost Options under the Long Term Incentive Plan 2022
c) Price(s) and volume(s) Price: Nil
Volume: 354,463
d) Aggregated information N/A - single transaction
Aggregated volume and Price
e) Date of the transaction 28 April 2023
f) Place of the transaction Outside a trading venue
1 Details of PDMR / person closely associated with them ('PCA')
a) Full Name Ryan Mahoney
2 Reason for the notification
a) Position / status CFO
b) Initial notification / amendment Initial Notification
3 Details of the issuer, emission allowance market participation, auction
platform, auctioneer or auction monitor
a) Name Michelmersh Brick Holdings plc
b) LEI 213800CIFQFPAHIQE695
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 Ordinary shares of 20 pence each in the capital of the Company
Identification code ISIN: GB00B013H060
b) Nature of the transaction Grant of Nil-Cost Options under the Long Term Incentive Plan 2022
c) Price(s) and volume(s) Price: Nil
Volume: 276,481
d) Aggregated information N/A - single transaction
Aggregated volume and Price
e) Date of the transaction 28 April 2023
f) Place of the transaction Outside a trading venue
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