REG - Property FranchiseGp - Grant of Options

Property FranchiseAnnouncement

09/08/2022 07:00

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RNS Number : 3060V  Property Franchise Group PLC (The)  09 August 2022

9 August 2022

THE PROPERTY FRANCHISE GROUP PLC

 

(the "Company" or the "Group")

 

Grant of Options

 

The Property Franchise Group PLC, the UK's largest property franchisor, today
announces that it has granted nominal cost options over 465,000 ordinary
shares in the Company to its Chief Executive Officer, Chief Financial Officer
and members of its senior management team under the TPFG Share Option Plan.
These awards recognise each of their roles and responsibilities in developing
and implementing the Company's strategic plans and are designed to continue to
incentivise them appropriately.

 

The awards will be subject to two performance conditions; adjusted basic
earnings per share adjusted for exceptional income/costs, amortisation arising
on consolidation and share-based payment charges ("adjusted EPS") and total
shareholder return ("TSR") over the 3 years to 31 December 2024. Each
performance condition will apply to 50% of the awards being made.

 

In respect of both performance conditions, growth of 20% over the three-year
period will be required for threshold vesting of the awards (the "floor"),
with growth of 42% or higher in both performance measures required for all of
the awards to vest (the "cap"). Straight-line vesting applies between the
floor and the cap.

 

The maximum awards for directors and PDMRs are stated below:

 

 Name            Position                                   Number of shares subject to awards
 Gareth Samples  Chief Executive Officer                    175,000
 David Raggett   Chief Financial Officer                    115,000
 Kate Randall    Group Marketing & Commercial Director        22,000
 Nick Neill      Managing Director of EweMove                 22,000

 

 

Immediately prior to these awards the Company's issued share capital was
32,041,966 ordinary shares and it had outstanding awards granted under prior
incentive schemes of 1,825,500 ordinary shares.

 

The grant of the awards constitutes a related party transaction for the
purposes of AIM Rule 13. The independent directors consider, having consulted
with the Company's nominated adviser, that the terms of the transaction are
fair and reasonable insofar as its shareholders are concerned.

 

Further detail is provided below in accordance with Article 19.3 of the EU
Market Abuse Regulation.

 

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated.
 a)  Name:                                                 Gareth Samples                                      David Raggett
 2   Reason for notification.
 a)  Position/Status:                                      Chief Executive                                     Chief Financial Officer
 b)  Initial Notification/Amendment:                       Initial Notification                                Initial Notification
 3   Details of the issuer, emission allowance market participation, auction
     platform,
     auctioneer or auction monitor.
 a)  Name:                                                 The Property Franchise Group PLC                    The Property Franchise Group PLC
 b)  LEI:                                                  2138008J5PTJ8C77I535                                2138008J5PTJ8C77I535

 4   Details of transaction(s);section to berepeated 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                                  Ordinary Shares of
                                                           1p each                                             1peach
     Identification code:                                  ISIN: GB00BH0WFH67                                  ISIN: GB00BH0WFH67
 b)  Nature of transaction:                                Grant of nil cost options                           Grant of nil cost options
                                                           over Company's shares                               over Company's shares
 c)  Price(s) and volume(s)                                Price(s)              Volume(s)                     Price(s)              Volume(s)
                                                           1p each               175,000                       1p each               115,000
 d)  Aggregatted volume:                                   n/a                                                 n/a
     Price:                                                n/a                                                 n/a
 e)  Date of Transaction:                                  9 August 2022                                       9 August 2022
 f)  Place of the Transaction                              Outside a trading venue                             Outside a trading venue

 

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated.
 a)  Name:                                                 Kate Randall                                             Nick Neill
 2   Reason for notification.
 a)  Position/Status:                                      Group Marketing & Commercial Director                    Managing Director of EweMove
 b)  Initial Notification/Amendment:                       Initial Notification                                     Initial Notification
 3   Details of the issuer, emission allowance market participation, auction
     platform,
     auctioneer or auction monitor.
 a)  Name:                                                 The Property Franchise Group PLC                         The Property Franchise Group PLC
 b)  LEI:                                                  2138008J5PTJ8C77I535                                     2138008J5PTJ8C77I535

 4   Details of transaction(s);section to berepeated 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                                       Ordinary Shares of
                                                           1p each                                                  1peach
     Identification code:                                  ISIN: GB00BH0WFH67                                       ISIN: GB00BH0WFH67
 b)  Nature of transaction:                                Grant of nil cost options                                Grant of nil cost options
                                                           over Company's shares                                    over Company's shares
 c)  Price(s) and volume(s)                                Price(s)               Volume(s)                         Price(s)              Volume(s)
                                                           1p each                22,000                            1p each               22,000
 d)  Aggregatted volume:                                   n/a                                                      n/a
     Price:                                                n/a                                                      n/a
 e)  Date of Transaction:                                  9 August 2022                                            9 August 2022
 f)  Place of the Transaction                              Outside a trading venue                                  Outside a trading venue

 

 

For further information, please contact:

 

 

 The Property Franchise Group PLC                           01202 405549

 Gareth Samples, Chief Executive Officer

 David Raggett, Chief Financial Officer

 Canaccord Genuity Limited (Nominated Adviser and Broker)   0207 523 8000

 Max Hartley

 Tom Diehl

 Alma PR                                                    0203 405 0209

 Susie Hudson

 Justine James

 Joe Pederzolli

 

About The Property Franchise Group PLC:

 

The Property Franchise Group PLC (AIM: TPFG) is the largest property
franchisor in the UK and manages the second largest estate agency network and
portfolio of lettings properties in the UK.

 

The Company was founded in 1986 and has since grown to a diverse portfolio of
nine brands operating throughout the UK, comprising longstanding high-street
focused brands and a hybrid, no sale no fee agency.

 

The Property Franchise Group's brands are Martin & Co, EweMove, Hunters,
CJ Hole, Ellis & Co, Parkers, Whitegates, Mullucks & Country
Properties.

 

Headquartered in Bournemouth, UK, the Company was listed on AIM on the London
Stock Exchange in 2013. More information is available
at www.propertyfranchise.co.uk (http://www.propertyfranchise.co.uk/)

 

 

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