REG - NWF Group PLC - Award of Options

NWFAnnouncement

02/10/2023 07:00

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RNS Number : 2590O  NWF Group PLC  02 October 2023

For release Monday 2 October 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 award has been approved
under the terms of the established NWF Company Performance Share Plan (the
'Plan').

Katie Shortland, Chief Financial Officer of NWF, will receive an award of an
option over a maximum of 92,760 ordinary shares of 25 pence each of the
Company ('Shares') at a price of 221 pence per Share, being the mid-market
price at the close of business on 29 September 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
27,828 Shares will be issued under the Plan; and

2.   the maximum of 92,760 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, Katie Shortland will be interested in 92,760 options 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 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.

 

 Rob Andrew, Group Company Secretary                                Mike Bell/Ed Allsopp

                    Reg Hoare/Catherine Chapman

 NWF Group plc                        MHP Group                     Peel Hunt LLP
                                   (Nominated Adviser 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                                                         Katie Shortland
 2.  Reason for the notification
 a.  Position/status                                              Chief Financial Officer
 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                                                                             92,760
 d.  Aggregated information

     •  Aggregated volume

     •    Price
 e.  Date of the transaction                                      2 October 2023
 f.  Place   of   the transaction

                                                                  Outside a trading venue

 

 

 

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