REG - NWF Group PLC - Award of Options

NWFAnnouncement

01/08/2023 07:00

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RNS Number : 8124H  NWF Group PLC  01 August 2023

For release Tuesday 1 August 2023

NWF Group plc

 

NWF Group plc: Award of Options under Company Performance Share Plan

 

 

NWF Group plc ('NWF' or the 'Company'), the specialist distributor of fuel,
food and feed across the UK, announces the following awards have been approved
under the terms of the established NWF Company Performance Share Plan (the
'Plan').

 

Richard Whiting, Chief Executive of NWF, will receive an award of a
conditional right over a maximum of 122,617 ordinary shares of 25 pence each
of the Company ('Shares') at a price of 267.5 pence per Share, being the
mid-market price at the close of business on 31 July 2023. This award is
subject to the following performance targets:

 

1.   if the reported headline basic earnings per share for the three
financial years ending 31 May 2026 increases by RPI plus 2% per annum then
36,785  Shares will be issued under the Plan; and

 

2.   the maximum of 122,617 Shares will be issued if the reported headline
basic earnings per share increases by RPI plus 8% per annum for the three
financial years ending 31 May 2026.

 

Following the award, Richard Whiting will be interested in 403,607 conditional
awards over Shares.

 

Chris Belsham, Chief Executive Designate of NWF, will receive an award of a
conditional right over a maximum of 73,738 Shares at a price of 267.5 pence
per Share, being the mid-market price at the close of business on 31 July
2023. This award is subject to the following performance targets:

 

1.   if the reported headline basic earnings per share for the three
financial years ending 31 May 2026 increases by RPI plus 2% per annum then
22,121 Shares will be issued under the Plan; and

 

2.   the maximum of 73,738 Shares will be issued if the reported headline
basic earnings per share increases by RPI plus 8% per annum for the three
financial years ending 31 May 2026.

 

Following the award, Chris Belsham will be interested in 242,713 conditional
awards over Shares.

 

Rob Andrew, Company Secretary of NWF, will receive an award of a conditional
right over a maximum of 56,449 Shares at a price of 267.5 pence per Share,
being the mid-market price at the close of business on 31 July 2023. This
award is subject to the following performance targets:

 

1.   if the reported headline basic earnings per share for the three
financial years ending 31 May 2026 increases by RPI plus 2% per annum then
16,934 Shares will be issued under the Plan; and

 

2.   the maximum of 56,449 Shares will be issued if the reported headline
basic earnings per share increases by RPI plus 8% per annum for the three
financial years ending 31 May 2026.

 

Following the award, Rob Andrew will be interested in 183,235 conditional
awards over Shares.

 

Dave Walmsley, Managing Director of NWF Fuels, will receive an award of a
conditional right over a maximum of 58,206 Shares at a price of 267.5 pence
per Share, being the mid-market price at the close of business on 31 July
2023. This award is subject to the following performance targets:

1.   if the reported headline basic earnings per share for the three
financial years ending 31 May 2026 increases by RPI plus 2% per annum then
17,461 Shares will be issued under the Plan; and

2.   the maximum of 58,206 Shares will be issued if the reported headline
basic earnings per share increases by RPI plus 8% per annum for the three
financial years ending 31 May 2026.

Following the award, Dave Walmsley will be interested in 58,206 conditional
awards over Shares.

Angela Carus, Managing Director of Boughey Distribution, will receive an award
of a conditional right over a maximum of 51,548 Shares at a price of
267.5 pence per Share, being the mid-market price at the close of business on
31 July 2023. This award is subject to the following performance targets:

 

1.   if the reported headline basic earnings per share for the three
financial years ending 31 May 2026 increases by RPI plus 2% per annum then
15,464 Shares will be issued under the Plan; and

2.   the maximum of 51,548 Shares will be issued if the reported headline
basic earnings per share increases by RPI plus 8% per annum for the three
financial years ending 31 May 2026.

 

Following the award, Angela Carus will be interested in 108,646 conditional
awards over Shares.

Andrew Downie, Managing Director of NWF Agriculture, will receive an award of
a conditional right over a maximum of 53,664 Shares at a price of 267.5 pence
per Share, being the mid-market price at the close of business on 31 July
2023. This award is subject to the following performance targets:

 

1.   if the reported headline basic earnings per share for the three
financial years ending 31 May 2026 increases by RPI plus 2% per annum then
16,099 Shares will be issued under the Plan; and

2.   the maximum of 53,664 Shares will be issued if the reported headline
basic earnings per share increases by RPI plus 8% per annum for the three
financial years ending 31 May 2026.

Following the award, Andrew Downie will be interested in 174,268 conditional
awards over Shares.

The Plan was established for the purpose of incentivising and retaining the
Company's eligible executive management. Shares awarded under the Plan are
subject to a performance criteria that requires NWF to meet a minimum reported
basic earnings per share target over a three year period. The Remuneration
Committee has responsibility for determining the award of Shares and the
performance targets under the Plan. In the event of a recipient leaving
during the three year period to 31 May 2026, the circumstances surrounding the
recipient leaving the Company would be assessed, and any award which
subsequently vests would be pro-rated to reflect the recipient's actual period
of employment.

 

 

 Richard Whiting, Chief Executive          Reg Hoare/Catherine Chapman  Mike Bell/Ed Allsopp
 Chris Belsham, Chief Executive Designate

 NWF Group plc                             MHP Group                    Peel Hunt LLP
                                                                        (Nominated Advisor and Broker)
 Tel: 01829 260 260                        Tel: 020 3128 8339           Tel: 020 7418 8900

 

 

 

 

 

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                                                         Richard Whiting
 2.  Reason for the notification
 a.  Position/status                                              Chief Executive
 b.  Initial notification                                         Initial

     /Amendment
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a.  Name                                                         NW F Group plc
 b.  LEI                                                          213800ARRZNN1W VZ9M70
 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 25p in the Company

                                                                  GB0006523608
 b.  Nature   of   the transaction

                                                                  Award of options under the Company's Share Option Plan
 c.  Price(s)      and volume(s)
                                                                                    Price(s)          Volume(s)
     0p                                                                             122,617
 d.  Aggregated information

     •  Aggregated volume

     •    Price
 e.  Date of the transaction                                      1 August 2023
 f.  Place   of   the transaction

                                                                  Outside a trading venue

 

 

 

 

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a.  Name                                                         Christopher Belsham
 2.  Reason for the notification
 a.  Position/status                                              Chief Executive Designate
 b.  Initial notification                                         Initial

     /Amendment
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a.  Name                                                         NW F Group plc
 b.  LEI                                                          213800ARRZNN1W VZ9M70
 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 25p in the Company

                                                                  GB0006523608
 b.  Nature   of   the transaction

                                                                  Award of options under the Company's Share Option Plan
 c.  Price(s)      and volume(s)
                                                                                    Price(s)          Volume(s)
     0p                                                                             73,738
 d.  Aggregated information

     •  Aggregated volume

     •    Price
 e.  Date of the transaction                                      1 August 2023
 f.  Place   of   the transaction

                                                                  Outside a trading venue

 

 

 

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a.  Name                                                         Rob Andrew
 2.  Reason for the notification
 a.  Position/status                                              Company Secretary
 b.  Initial notification                                         Initial

     /Amendment
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a.  Name                                                         NW F Group plc
 b.  LEI                                                          213800ARRZNN1W VZ9M70
 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 25p in the Company

                                                                  GB0006523608
 b.  Nature   of   the transaction

                                                                  Award of options under the Company's Share Option Plan
 c.  Price(s)      and volume(s)
                                                                                    Price(s)          Volume(s)
     0p                                                                             56,449
 d.  Aggregated information

     •  Aggregated volume

     •    Price
 e.  Date of the transaction                                      1 August 2023
 f.  Place   of   the transaction

                                                                  Outside a trading venue

 

 

 

 

 

 

 

 

 

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a.  Name                                                         David Walmsley
 2.  Reason for the notification
 a.  Position/status                                              Managing Director Fuels
 b.  Initial notification                                         Initial

     /Amendment
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a.  Name                                                         NW F Group plc
 b.  LEI                                                          213800ARRZNN1W VZ9M70
 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 25p in the Company

                                                                  GB0006523608
 b.  Nature   of   the transaction

                                                                  Award of options under the Company's Share Option Plan
 c.  Price(s)      and volume(s)
                                                                                    Price(s)          Volume(s)
     0p                                                                             58,206
 d.  Aggregated information

     •  Aggregated volume

     •    Price
 e.  Date of the transaction                                      1 August 2023
 f.  Place   of   the transaction

                                                                  Outside a trading venue

 

 

 

 

 

 

 

 

 

 

 

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a.  Name                                                         Angela Carus
 2.  Reason for the notification
 a.  Position/status                                              Managing Director Food
 b.  Initial notification                                         Initial

     /Amendment
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a.  Name                                                         NW F Group plc
 b.  LEI                                                          213800ARRZNN1W VZ9M70
 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 25p in the Company

                                                                  GB0006523608
 b.  Nature   of   the transaction

                                                                  Award of options under the Company's Share Option Plan
 c.  Price(s)      and volume(s)
                                                                                    Price(s)          Volume(s)
     0p                                                                             51,548
 d.  Aggregated information

     •  Aggregated volume

     •    Price
 e.  Date of the transaction                                      1 August 2023
 f.  Place   of   the transaction

                                                                  Outside a trading venue

 

 

 

 

 

 

 

 

 

 

 

 1.  Details of the person discharging managerial responsibilities / person closely
     associated
 a.  Name                                                         Andrew Downie
 2.  Reason for the notification
 a.  Position/status                                              Managing Director Feeds
 b.  Initial notification                                         Initial

     /Amendment
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a.  Name                                                         NW F Group plc
 b.  LEI                                                          213800ARRZNN1W VZ9M70
 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 25p in the Company

                                                                  GB0006523608
 b.  Nature   of   the transaction

                                                                  Award of options under the Company's Share Option Plan
 c.  Price(s)      and volume(s)
                                                                                    Price(s)          Volume(s)
     0p                                                                             53,664
 d.  Aggregated information

     •  Aggregated volume

     •    Price
 e.  Date of the transaction                                      1 August 2023
 f.  Place   of   the transaction

                                                                  Outside a trading venue

 

 

 

 

 

 

 

 

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