REG - Wynnstay Group PLC - Award of Options

WynnstayAnnouncement

10/02/2023 14:00

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RNS Number : 6059P  Wynnstay Group PLC  10 February 2023

AIM: WYN

WYNNSTAY GROUP PLC

("Wynnstay" or "the Company")

Award of Options under the Company's Performance Share Plan

 

Wynnstay, the agricultural supplies group, announces the award of options
("Options") over ordinary shares of 25p each in the Company ("Ordinary
Shares"), approved under the terms of the established Wynnstay Performance
Share Plan (the "Plan").

The Options offer the recipients the entitlement to acquire a maximum number
of Ordinary Shares ("Award Shares") on or after 31 October 2025 at nil cost,
subject to the Company achieving the following minimum reported performance
criteria:

 1.  75% of the Award Shares will vest if the Company's Earnings Per Share ("EPS")
     grows at an annual rate exceeding the rate of growth of the Retail Price Index
     ("RPI") plus 8%. Where this growth is not met, provided EPS grows at an annual
     rate of at least RPI plus 1%, 30% of the Award Shares tested under the EPS
     target will vest. Between these criteria, the Award Shares will vest on a
     straight-line basis.
 2.  25% of the Award Shares will vest if the Company's Return on Capital Employed
     ("ROCE") is 12.6% for the financial year ending 31 October 2025. Where this
     target is not met, provided a minimum ROCE employed of 10% is met, the Award
     Shares will vest between these two criteria on a straight-line basis.

The total number of Award Shares over which Options have been granted amounts to 139,311, and included in this grant were Options made to the following Executive Directors of the Company:
                                           Maximum number of Award Shares

 Name             Title
 Mr G.W. Davies   Chief Executive Officer  30,634
 Mr B.P. Roberts  Finance Director         20,519

The Remuneration Committee has responsibility for determining the award of
Options and the performance targets under the Plan.

Enquiries:

 

 Wynnstay Group plc                Gareth Davies, Chief Executive                 T: 1691 827 142

                                   Paul Roberts, Finance Director

 KTZ Communications                Katie Tzouliadis / Robert Morton/ Dan Mahoney  T: 020 3178 6378
 Shore Capital (Nomad and Broker)  Stephane Auton / John More                     T: 020 7408 4090

                                   Rachel Goldstein

 

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