REG - Sanderson Design Grp - Grant of Awards under LTIP

Sanderson DesignAnnouncement

05/06/2023 12:30

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RNS Number : 6743B  Sanderson Design Group PLC  05 June 2023

 For immediate release  5 June 2023

 

SANDERSON DESIGN GROUP PLC

("Sanderson Design Group", the "Company" or the "Group")

 

Grant of Awards under LTIP

 

 

Sanderson Design Group PLC (AIM: SDG), the luxury interior design and
furnishings group, announces that on 2 June 2023 it granted nil-cost options
(the "Awards") over ordinary shares of 1 pence each in the Company (the
"Shares") to six people discharging managerial responsibilities ("PDMR") under
the Sanderson Design Group PLC 2015 Long Term Incentive Plan (the "LTIP"),
based on the average closing mid-market price for the three trading days
preceding the date of grant on 2 June 2023 of 123.5  pence per Share.

Details of the Awards are set out below:

 Director/ PDMR                                  Number of Shares under Award on the basis of achieving the maximum performance
                                                 targets
 Lisa Montague, Chief Executive Officer          223,391
 Mike Woodcock, Chief Financial Officer          86,737
 Mauricio Solodujin, Global Commercial Director  35,160
 Ben Naylor, Group Operations Director           35,160
 Claire Vallis, Design Director                  35,160
 Carla Barnett, Group HR Director                35,160

 

No payment was required for the grant of the Awards.

The LTIP was approved by shareholders at the 2015 AGM. The Awards are subject
to the satisfaction of three performance condition underpins. Two underpins
measure the financial performance of the Company, Operating Cash Flow over a
three year period ending 31 January 2026 and growth in sales in the key US
market. The third underpin is a continuous improvement in sustainability,
based on a reduction of carbon footprint and contribution to the UN
Sustainable Development Goals.

The Awards shall vest in three tranches as set out below

 Tranche as a percentage of the Award  Normal Vesting Date of each tranche of the Award
 40%                                   2 June 2026
 40%                                   2 June 2027
 20%                                   2 June 2028

 

Further details of the performance measures will be set out in the Company's
2024 Annual Report and Accounts.

 

 1.  Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         1. Lisa Montague

                                                                  2. Mike Woodcock

                                                                  3. Mauricio Solojudin

                                                                  4. Ben Naylor

                                                                  5. Claire Vallis

                                                                  6. Carla Barnett
 2.  Reason for the notification
 a)  Position/status                                              1. Chief Executive Officer

                                                                  2. Chief Financial Officer

                                                                  3. Global Commercial Director

                                                                  4. Group Operations Director

                                                                  5. Creative Director

                                                                  6. Group HR Director
 b)  Initial notification/Amendment                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Sanderson Design Group PLC
 b)  LEI                                                          213800A8K2WOUZJIQL93
 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

                                                                  GB0003061511
 b)  Nature of the transaction                                    Grant of nil cost option award under the Sanderson Design Group PLC 2015 LTIP.
                                                                  The award will vest three years after the date of grant subject to the
                                                                  satisfaction of performance conditions.
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)

                                                            1. Nil    223,391
                                                                  2. Nil    86,737
                                                                  3. Nil    35,160
                                                                  4. Nil    35,160
                                                                  5. Nil    35,160
                                                                  6. Nil    35,160
 d)  Aggregated information                                       Not applicable

 e)  Date of the transaction                                      2 June 2023
 f)  Place of the transaction                                     Outside a trading venue

d)

Aggregated information

 

 

Not applicable

e)

Date of the transaction

2 June 2023

f)

Place of the transaction

Outside a trading venue

 

 

For further information:

 Sanderson Design Group PLC                        c/o Buchanan +44 (0) 20 7466 5000
 Lisa Montague, Chief Executive Officer
 Mike Woodcock, Chief Financial Officer
 Caroline Geary, Company Secretary

 Investec Bank plc (Nominated Adviser and Broker)  +44 (0) 20 7597 5970
 David Anderson / Alex Wright / Ben Farrow

 Buchanan                                          +44 (0) 20 7466 5000
 Mark Court / Toto Berger / Abigail Gilchrist

SDG@buchanan.uk.com (mailto:SDG@buchanan.uk.com)

 

 

Notes for editors:

 

 

About Sanderson Design Group

Sanderson Design Group PLC is a luxury interior furnishings company that
designs, manufactures and markets wallpapers, fabrics and paints. In addition,
the Company derives licensing income from the use of its designs on a wide
range of products such as bed and bath collections, rugs, blinds and
tableware.

Sanderson Design Group's brands include Zoffany, Sanderson, Morris & Co.,
Harlequin, Scion, and Clarke & Clarke.

The Company has a strong UK manufacturing base comprising Anstey wallpaper
factory in Loughborough and Standfast & Barracks a fabric printing
factory, in Lancaster. Both sites manufacture for the Company and for other
wallpaper and fabric brands.

Sanderson Design Group employs approximately 600 people and its products are
sold worldwide. It has showrooms in London, New York, Chicago, and Amsterdam.

Sanderson Design Group trades on the AIM market of the London Stock Exchange
under the ticker symbol SDG.

For further information please visit: www.sandersondesigngroup.com
(http://www.sandersondesigngroup.com)

 

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