H&T Group PLC 2023 PSP and Amendment to the 2021 PSP (4727Z)
15 Maio 2023 - 1:04PM
UK Regulatory
TIDMHAT
RNS Number : 4727Z
H&T Group PLC
15 May 2023
15 May 2023
H&T Group plc
("H&T", the "Company" or the "Group")
(AIM: HAT)
Performance Share Plan ("PSP") 2023 and Amendment to the 2021
PSP
H&T Group plc announces the adoption of its 2023 Performance
Share Plan ("PSP") which has been approved by the Remuneration
Committee. Further details on the scheme, which will apply to
senior management and Executive Directors of the Company, are set
out below.
In accordance with the rules of the PSP, eligible employees will
be entitled to acquire a maximum number of Ordinary Shares ('Award
Shares') on or after 31 December 2025 at nil price, subject to the
Company achieving the minimum reported performance criteria.
Summary details set out below:
2023 Grant The grants of shares are a proportion of
salary as follows:
* Executive Directors -130% of base salary
* Christopher Gillespie, CEO: 93,816
* Diane Giddy, CFO: 68,092
* Senior management - 35% to 75% of base salary
Performance period The performance period for the 2023 grant
is 1 January 2023 to
31 December 2025 (3 years).
----------------------------------------------------------------
Vesting The scheme is planned to vest at the end
of 2025.
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Performance conditions The scheme is split equally based on targets
for total shareholder return (TSR) and growth
in basic earnings per share (EPS) measured
over the three-year performance period.
The minimum, target and maximum thresholds,
with reference to growth over 2022 or the
share price as at 31 December 2022, are:
Measure Minimum Target Maximum
TSR 38% 41% 50%
-------- ------- --------
EPS growth 106% 114% 136%
-------- ------- --------
For performance below the minimum no award
will vest, at the minimum 30% (2022: 30%)
of the award will vest, at the target 50%
(2022: 50%) of the award will vest, and at
or above the maximum 100% (2022: 100%) of
the award will vest. A sliding scale of vesting,
on a straight-line basis applies between
the minimum, target and maximum TSR and EPS
targets.
----------------------------------------------------------------
Share retention Executive directors are subject to a two-year
period share retention period for shares awarded
under the scheme.
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Further conditions Award Shares will be released on 31 December
2025 subject to continued employment and
the satisfaction of certain specific performance
conditions. The awards are further subject
to claw back and malus provisions.
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2021 PSP Amendment
-- The Company previously notified that in relation to the 2021
PSP, a total number of 366,053 shares would potentially be
required. Having reviewed the participants, the Remuneration
Committee has decided to exercise its discretion to better align
the list of participants to the current senior management team, to
take account of a number of departures and to include Diane Giddy,
Chief Financial Officer, who joined the Company in November 2021.
Diane's award has been pro-rated to reflect the date of her
appointment partway through the performance period. The proposed
amendments will increase the total potential number of shares to
456,675.
The grant of shares is a proportion of salary as follows:
-- Executive Director -105% of base salary
-- Diane Giddy, CFO: 66,262
Enquiries
H&T Group plc
Chris Gillespie, Chief Executive
Officer
Diane Giddy, Chief Financial
Officer +44(0)20 8225 2700
Shore Capital Ltd (Nominated
Advisor and Broker
Stephane Auton/Iain Sexton (Corporate
Advisory)
Guy Wiehahn/Isobel Jones (Corporate
Broking) +44(0)20 7408 4090
Alma PR (Public Relations) +44(0)20 3405 0205
Sam Modlin handt@almapr.co.uk
Andy Bryant
Pippa Crabtree
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Chris Gillespie
---------------------------- -------------------------------------
Reason for the notification
2
-------------------------------------------------------------------
a) Position/status Chief Executive Officer
---------------------------- -------------------------------------
b) Initial notification Initial notification
/Amendment
---------------------------- -------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name H&T Group plc
---------------------------- -------------------------------------
b) LEI 2138006N2X1XSBSDSU74
---------------------------- -------------------------------------
Details of the transaction(s): section to be repeated
4 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 H&T Group plc ordinary shares of
financial instrument, 5 pence
type of instrument
Identification code GB00B12RQD06
---------------------------- -------------------------------------
b) Nature of the transaction Award of Options under Performance
Share Plan
---------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 93,816
----------
---------------------------- -------------------------------------
d) Aggregated information N/A (single transaction)
- Aggregated volume
- Price
---------------------------- -------------------------------------
e) Date of the transaction 15 May 2023
---------------------------- -------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
---------------------------- -------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Diane Giddy
---------------------------- -------------------------------------
Reason for the notification
2
-------------------------------------------------------------------
a) Position/status Chief Financial Officer
---------------------------- -------------------------------------
b) Initial notification Initial notification
/Amendment
---------------------------- -------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name H&T Group plc
---------------------------- -------------------------------------
b) LEI 2138006N2X1XSBSDSU74
---------------------------- -------------------------------------
Details of the transaction(s): section to be repeated
4 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 H&T Group plc ordinary shares of
financial instrument, 5 pence
type of instrument
Identification code GB00B12RQD06
---------------------------- -------------------------------------
b) Nature of the transaction Award of Options under Performance
Share Plan
---------------------------- -------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 68,092
Nil 66,262
----------
---------------------------- -------------------------------------
d) Aggregated information
Aggregated volume: 134,354
- Aggregated volume
Price: Nil
- Price
---------------------------- -------------------------------------
e) Date of the transaction 15 May 2023
---------------------------- -------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market
(XLON)
---------------------------- -------------------------------------
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END
MSCUVRNROUUVAAR
(END) Dow Jones Newswires
May 15, 2023 12:04 ET (16:04 GMT)
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