REG - Strip Tinning Hldgs - Grant of Options and Director/PDMR Dealing

Strip Tinning HoldingsAnnouncement

13/08/2024 09:15

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RNS Number : 2485A  Strip Tinning Holdings PLC  13 August 2024

13 August 2024

Strip Tinning Holdings plc

("Strip Tinning" or the "Company")

Grant of Options under 2022 Performance Share Plan

Director/PDMR Dealing

Strip Tinning Holdings plc (AIM: STG), a leading supplier of specialist
connection systems to the automotive sector, announces that, under the terms
of the Company's 2022 Performance Share Plan (the "PSP") 1 , the Board has
granted nominal cost options (the "Options") over 520,000 ordinary shares of 1
pence each in the Company ("Ordinary Shares") to certain Directors and persons
discharging managerial responsibilities ("PDMRs"), as set out below.

The Board believes it is key that the Company retains and incentivises its
senior executive team to drive the business forward and align their interests
with those of shareholders. This forms the basis for the grant of the Options.
 

The Options will vest subject to the Company achieving certain financial
performance criteria for the financial year ending 31 December 2026. The
financial performance criteria are based on the Group as a whole, with the
Options awarded subject to achieving total shareholder return hurdles. The
Remuneration Committee of the Board has discretion to amend these terms to
take account of, for example, corporate activities such as acquisitions, to
ensure that the performance targets remain appropriate.

The Options will vest following the assessment by the Remuneration Committee
of the Board of the extent to which the applicable financial performance
criteria have been met by reference to the Company's audited financial results
for the financial year ending 31 December 2026. Such assessment by the
Remuneration Committee of the Board, and the date on which the Options will
vest is expected to be in Q1 of 2027.

The Options awarded to PDMRs are set out in the table below.

 Director/ PDMR  Position         Options granted
 Adam Robson     Executive Chair  200,000
 Mark Perrins    CEO              200,000
 Kevin Edwards   CFO              120,000

 

Enquiries:

Strip Tinning Holdings plc

Adam Robson, Executive Chair
 
Via Alma PR

Mark Perrins, Chief Executive
Officer

 

Singer Capital Markets (Nominated Adviser and Sole
Broker)                    +44 (0) 20 7496 3000

Rick Thompson

James Fischer

 

Alma (Financial
PR)
striptinning@alma (mailto:striptinning@alma) strategic.com

Josh
Royston
+44 (0) 20 3405 0205

Joe Pederzolli
 

 

 

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         1.     Adam Robson

                                                                   2.     Mark Perrins

                                                                   3.     Kevn Edwards

 2    Reason for the notification

 a)   Position/status                                              1.     Executive Chairman

                                                                   2.     Chief Executive Officer

                                                                   3.    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                                                         Strip Tinning Holdings plc

 b)   LEI                                                          894500GS6N5D41R6H966

 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: GB00BMHN9M05

 b)   Nature of the transaction                                    Grant of options

 c)   Price(s) and volume(s)

                                                                                     Price(s)          Volume(s)
                                                                                     1. Nil            200,000
                                                                                     2. Nil            200,000
                                                                                     3. Nil            120,000

 d)   Aggregated information

      - Aggregated volume                                          N/A - single transaction

      - Price

 e)   Date of the transaction                                      12 August 2024

 f)   Place of the transaction                                     Outside a trading venue

 

 1  Details of the PSP are to be found in the Admission Document dated 10
February 2022 which is available on the company website.

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