REG - Springfield Props. - Grant of performance share awards

Springfield PropertiesAnnouncement

01/11/2023 09:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231101:nRSA0423Sa&default-theme=true

RNS Number : 0423S  Springfield Properties PLC  01 November 2023

 1 November 2023

 

Springfield Properties plc

 

("Springfield" or the "Company")

 

Grant of performance share awards

 

Springfield Properties plc (AIM: SPR), a leading housebuilder in Scotland
focused on delivering private and affordable housing, announces that, on 30
October 2023, the Company granted awards over ordinary shares of 0.125 pence
each in the capital of the Company ("Awards") to certain PDMRs, pursuant to
the Company's Performance Share Plan (the "PSP") that was originally
established in January 2020.  Details of these Awards are set out below:

 

 

 Name         Role                     No. of shares over which Awards granted
 Innes Smith  Chief Executive Officer  427,995
 Iain Logan   Chief Financial Officer  225,849

 

No consideration was paid for the grant of the Awards, which have been
structured as "nominal cost" options.

 

The Awards will normally vest on the third anniversary of grant but only if,
and to the extent that, certain performance conditions are satisfied. These
conditions (which have been set by the Remuneration Committee of the Company
and will be assessed following the end of the financial year to 31 May 2026)
relate to the achievement of specified targets applicable to earnings per
share (75% weighting) and the Company's net debt / total assets gearing (25%
weighting). Vesting will also normally be dependent on the continued
employment of the participant within the Company's group.

 

Once the Awards have vested, they will generally be available to be exercised
until the tenth anniversary of their original grant.  On any such exercise,
additional "dividend equivalent" entitlements may also be paid to the relevant
individuals.

 

Further information about the overall structure of the PSP can be found in the
Company's annual report and financial statements.

 

Enquiries

  Springfield Properties
 Sandy Adam, Chairman                     +44 1343 552550

 Innes Smith, Chief Executive Officer

 Iain Logan, Chief Financial Officer

 Singer Capital Markets
 Shaun Dobson, James Moat, Oliver Platts  +44 20 7496 3000

 Gracechurch Group
 Harry Chathli, Claire Norbury            +44 20 4582 3500

 

 

 

Analyst Research

 

Equity Development and Progressive Equity produce freely available research on
Springfield Properties plc, including financial forecasts. This is available
to view and download here:

https://www.thespringfieldgroup.co.uk/news/updates-and-analyst-reports
(https://www.thespringfieldgroup.co.uk/news/updates-and-analyst-reports)

 

 

 

The following notifications are intended to satisfy the Company's obligations
under Article 19(3) of EU Regulation No 596/2014 as it forms part of domestic
law by virtue of the European Union (Withdrawal) Act 2018.

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name                                                         1.   Innes Smith

                                                                  2.   Iain Logan
 2   Reason for the notification
 a)  Position/status                                              1.   Chief Executive Officer

                                                                  2.   Chief Financial Officer
 b)  Initial notification/ Amendment                              Initial Notification
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Springfield Properties plc
 b)  LEI                                                          21380026UDE3LKFSDP68
 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 0.125 pence each ("Shares")
     Identification code                                          GB00BF1QPG26
 b)  Nature of the transaction                                    Grant of awards (in the form of nominal cost options) over Shares pursuant to
                                                                  the Springfield Properties plc Performance Share Plan
 c)  Price(s) and volume(s)                                           Price(s)                      Volume(s)
                                                                  1.  0.125 pence (exercise price)  427,995
                                                                  2.  0.125 pence (exercise price)  225,849
 d)  Aggregated information

     -   Aggregated volume                                        1.   N/A single transaction

     -   Price                                                    2.   N/A single transaction
 e)  Date of the transaction                                      2023-10-30
 f)  Place of the transaction                                     Off market

d)

Aggregated information

-   Aggregated volume

-   Price

 

1.   N/A single transaction

2.   N/A single transaction

e)

Date of the transaction

2023-10-30

f)

Place of the transaction

Off market

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DSHUAOKROWUARRA