TIDMJSG
RNS Number : 3423S
Johnson Service Group PLC
08 March 2023
8 March 2023
AIM: JSG
Johnson Service Group PLC
PDMR Shareholding - Grant of Share Options
Johnson Service Group PLC (the "Company") announces that it has
today granted nil cost options over ordinary shares of 10 pence
each in the Company under the Johnson Service Group 2018 Long-Term
Incentive Plan ("2018 LTIP Scheme") (the "2023 LTIP Award").
In addition, linked awards were granted on the same date over
ordinary shares of 10 pence each in the Company under the Johnson
Service Group 2018 Long-Term Incentive Plan CSOP Section (the "2023
Approved LTIP Award") at an exercise price of 117.0 pence each.
The number of options granted to each of the Executive Directors
are as follows:
No. of Options Granted
--------------------------
2023 LTIP 2023 Approved
Executive Director Position Award LTIP Award
Peter Egan CEO 487,934 25,641
Yvonne Monaghan CFO 322,228 25,641
The 2023 LTIP Award options may be exercised on or after 8 March
2026, subject to the satisfaction of performance conditions over
the three financial years ending 31 December 2025 and are
exercisable up to ten years from the date of grant.
Performance Conditions and Vesting
In determining the applicable performance conditions, the
Remuneration Committee has taken into account the Group's business
plan as well as the outlook for the sector, general macroeconomic
conditions and, to the extent available, the range of analysts'
consensus forecasts for the financial year ending 31 December 2025.
Following careful consideration, the Remuneration Committee has
agreed two separate performance targets. The specific performance
conditions are set out below.
Adjusted Profit Before Tax per Share
50 per cent of the 2023 LTIP Award will vest by reference to the
Company's adjusted profit before tax ("PBT") per share as at 31
December 2025. None of the PBT per share element of the 2023 LTIP
Award will vest if PBT per share growth is less than 5 per cent per
annum above the level of PBT per share for the financial year ended
31 December 2022. One quarter of this element will vest for PBT per
share growth of 5 per cent per annum above the PBT per share for
the financial year ended 31 December 2022, and the whole of this
element will vest for PBT per share growth of 10 per cent per annum
or greater above the PBT per share for the financial year ended 31
December 2022. Vesting will be on a straight-line basis if PBT per
share growth is between 5 per cent and 10 per cent per annum.
Total Shareholder Return
The remaining 50 per cent of the 2023 LTIP Award will vest by
reference to the annualised growth in the Company's net return
index ("TSR") over the performance period relative to the
annualised growth in the FTSE AIM All-Share Industrial Goods and
Services net return index (the "Index") over the performance
period. None of this element of the 2023 LTIP Award will vest if
the TSR growth is less than the Index growth, one quarter will vest
if the TSR growth is equal to the Index growth and the whole of
this element of the 2023 LTIP Award will vest if the TSR growth is
at least seven per cent above the Index growth. Vesting will be on
a straight-line basis between these points.
Linked Award
The 2023 Approved LTIP Award has been granted to allow, where
possible, the participant to receive part of the gain which may
have been received under the 2023 LTIP Award tax efficiently. The
participant will receive the same gross gain as they would have
received had they only been granted the 2023 LTIP Award and not
been granted the 2023 LTIP Award and the linked 2023 Approved LTIP
Award. At the time of exercise, to the extent that there is a gain
on the 2023 Approved 2023 LTIP Award, the options granted under the
2023 LTIP Award will be forfeited to the same value.
Further Holding Period
The 2023 LTIP Award is subject to an additional holding period
of two years from the date on which the 2023 LTIP Award vests (the
"Holding Period"). During the Holding Period, the 2023 LTIP Award
holder may not normally dispose of any of the shares which vest
except to cover any income tax or social security contributions
arising on the exercise of the 2023 LTIP Award.
Malus, Clawback and Remuneration Committee Discretion
The 2023 LTIP Award will be subject to the 2018 LTIP Scheme
rules. In line with its Remuneration Policy, the Remuneration
Committee can apply malus and clawback provisions to the 2023 LTIP
Award and has discretion to vary formulaic outturns where they do
not reflect underlying performance or are inappropriate in the
context of unexpected or unforeseen circumstances.
Enquiries:
Johnson Service Group PLC
Peter Egan, CEO
Yvonne Monaghan, CFO
Tel: 01928 704 600
Investec Investment Banking Camarco (Financial PR)
(NOMAD) Ginny Pulbrook
David Flin Rosie Driscoll
Carlton Nelson Letaba Rimell
Virginia Bull Tel: 020 3757 4992 / 4981
Tel: 020 7597 5970
About Johnson Service Group PLC
www.jsg.com
Headquartered in Preston Brook, Cheshire, JSG provides textile
services across the UK. The Group is a leading supplier of workwear
and protective wear in the UK and also provides premium linen
services for the hotel, catering and hospitality markets. With its
core values of quality, reliability and service, the Group aims to
provide customers with an outstanding level of customer care.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
Details of the person discharging managerial responsibilities
1. / person closely associated
a) Name Peter Egan
-------------------------- -----------------------------------------
Reason for the Notification
2.
---------------------------------------------------------------------
a) Position / Status Chief Executive Officer / PDMR
-------------------------- -----------------------------------------
b) Initial Notification Initial notification
/ Amendment
-------------------------- -----------------------------------------
Details of the issuer, emission allowance market participant,
3. auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Entity legal name Johnson Service Group PLC
-------------------------- -----------------------------------------
b) Entity LEI 2138004WZUPWV53KWV11
-------------------------- -----------------------------------------
Details of the transaction(s): section to be repeated for
4. (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 Options over ordinary shares of 10 pence
securities each
Identification code GB0004762810
-------------------------- -----------------------------------------
b) Nature of the transaction Grant of options
-------------------------- -----------------------------------------
c) Individual transaction Price Volume
price(s) and volume(s) GBPnil 487,934
--------
-------------------------- -----------------------------------------
d) Aggregated price and Grant of 487,934 options over ordinary
volume shares of 10 pence each at an exercise
price of GBPnil
-------------------------- -----------------------------------------
e) Date of the transaction 8 March 2023
-------------------------- -----------------------------------------
f) Place of the transaction Outside of a trading platform
-------------------------- -----------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
Details of the person discharging managerial responsibilities
1. / person closely associated
a) Name Peter Egan
-------------------------- -----------------------------------------
Reason for the Notification
2.
---------------------------------------------------------------------
a) Position / Status Chief Executive Officer / PDMR
-------------------------- -----------------------------------------
b) Initial Notification Initial notification
/ Amendment
-------------------------- -----------------------------------------
Details of the issuer, emission allowance market participant,
3. auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Entity legal name Johnson Service Group PLC
-------------------------- -----------------------------------------
b) Entity LEI 2138004WZUPWV53KWV11
-------------------------- -----------------------------------------
Details of the transaction(s): section to be repeated for
4. (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 Options over ordinary shares of 10 pence
securities each
Identification code GB0004762810
-------------------------- -----------------------------------------
b) Nature of the transaction Grant of options
-------------------------- -----------------------------------------
c) Individual transaction Price Volume
price(s) and volume(s) 117.0 pence 25,641
-------
-------------------------- -----------------------------------------
d) Aggregated price and Grant of 25,641 options over ordinary
volume shares of 10 pence each at an exercise
price of 117.0 pence
-------------------------- -----------------------------------------
e) Date of the transaction 8 March 2023
-------------------------- -----------------------------------------
f) Place of the transaction Outside of a trading platform
-------------------------- -----------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
Details of the person discharging managerial responsibilities
1. / person closely associated
a) Name Yvonne Monaghan
-------------------------- -----------------------------------------
Reason for the Notification
2.
---------------------------------------------------------------------
a) Position / Status Chief Financial Officer / PDMR
-------------------------- -----------------------------------------
b) Initial Notification Initial notification
/ Amendment
-------------------------- -----------------------------------------
Details of the issuer, emission allowance market participant,
3. auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Entity legal name Johnson Service Group PLC
-------------------------- -----------------------------------------
b) Entity LEI 2138004WZUPWV53KWV11
-------------------------- -----------------------------------------
Details of the transaction(s): section to be repeated for
4. (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 Options over ordinary shares of 10 pence
securities each
Identification code GB0004762810
-------------------------- -----------------------------------------
b) Nature of the transaction Grant of options
-------------------------- -----------------------------------------
c) Individual transaction Price Volume
price(s) and volume(s) GBPnil 322,228
--------
-------------------------- -----------------------------------------
d) Aggregated price and Grant of 322,228 options over ordinary
volume shares of 10 pence each at an exercise
price of GBPnil
-------------------------- -----------------------------------------
e) Date of the transaction 8 March 2023
-------------------------- -----------------------------------------
f) Place of the transaction Outside of a trading platform
-------------------------- -----------------------------------------
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
Details of the person discharging managerial responsibilities
1. / person closely associated
a) Name Yvonne Monaghan
-------------------------- -----------------------------------------
Reason for the Notification
2.
---------------------------------------------------------------------
a) Position / Status Chief Financial Officer / PDMR
-------------------------- -----------------------------------------
b) Initial Notification Initial notification
/ Amendment
-------------------------- -----------------------------------------
Details of the issuer, emission allowance market participant,
3. auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Entity legal name Johnson Service Group PLC
-------------------------- -----------------------------------------
b) Entity LEI 2138004WZUPWV53KWV11
-------------------------- -----------------------------------------
Details of the transaction(s): section to be repeated for
4. (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 Options over ordinary shares of 10 pence
securities each
Identification code GB0004762810
-------------------------- -----------------------------------------
b) Nature of the transaction Grant of options
-------------------------- -----------------------------------------
c) Individual transaction Price Volume
price(s) and volume(s) 117.0 pence 25,641
-------
-------------------------- -----------------------------------------
d) Aggregated price and Grant of 25,641 options over ordinary
volume shares of 10 pence each at an exercise
price of 117.0 pence
-------------------------- -----------------------------------------
e) Date of the transaction 8 March 2023
-------------------------- -----------------------------------------
f) Place of the transaction Outside of a trading platform
-------------------------- -----------------------------------------
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END
DSHBLGDXRGGDGXI
(END) Dow Jones Newswires
March 08, 2023 11:08 ET (16:08 GMT)
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