REG - Property FranchiseGp - Grant of Options

Property FranchiseAnnouncement

17/05/2023 07:17

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RNS Number : 6450Z  Property Franchise Group PLC (The)  17 May 2023

 17 May 2023

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 255,952 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 2025. Each
performance condition will apply to 50% of the awards being made.

 

In respect of adjusted EPS, growth of 20% over the three-year period will be
required for threshold vesting of the award (the "collar"), with growth of 42%
or higher required for full vesting of the award (the "cap"). In respect of
TSR, growth of 48% over the three-year period will be required for threshold
vesting of the award (the "collar"), with growth of 72% or higher required for
full vesting of the award (the "cap"). Straight-line vesting applies between
the collar and the cap for both performance conditions.

 

The maximum awards for directors and PDMRs are stated below:

 

 Name            Position                      Number of shares subject to awards
 Gareth Samples  Chief Executive Officer       109,127
 David Raggett   Chief Financial Officer         63,492
 Nick Neill      Managing Director of EweMove    12,000

 

 

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 2,213,000 ordinary shares.

 

 

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                                                         1.   Gareth Samples

                                                                   2.   David Raggett

                                                                   3.   Nick Neill

 2    Reason for the notification
 a)   Position/status                                              1.   PDMR, Chief Executive Officer

                                                                   2.   PDMR, Chief Financial Officer

                                                                   3.   PDMR, Managing Director of EweMove

 b)   Initial notification /Amendment                              Initial Notification

 3    Details of the issuer, emission allowance market participant, auction
      platform, auctioneer or auction monitor
 a)   Name                                                         The Property Franchise Group PLC

 b)   LEI                                                          2138008J5PTJ8C77I535

 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 1 pence each

      Identification code

                                                                   ISIN: GB00BH0WFH67
 b)   Nature of the transaction                                    Grant of nil cost options over Company's shares

 c)   Price(s) and volume(s)                                        Price(s)                      Volume(s)

      1.   1p each                                                                             1. 109,127

      2.   1p each                                                                             2. 63,492

      3.   1p each                                                                             3. 12,000

 d)   Aggregated information

      - Aggregated volume                                          184,619

      - Price                                                      1p each

 e)   Date of the transaction                                      16 May 2023

 f)   Place of the transaction                                     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 Joint Broker)   0207 523 8000

 Max Hartley

 Tom Diehl

 Singer Capital Markets (Joint Broker)                           020 7496 3000

 Rick Thompson

 James Fischer

 Alma PR                                                          0203 405 0209

 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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