Hill & Smith Hldgs PLC Director/PDMR Shareholding (3739M)
21 September 2021 - 2:45AM
UK Regulatory
TIDMHILS
RNS Number : 3739M
Hill & Smith Hldgs PLC
20 September 2021
Hill & Smith Holdings PLC ('Hill & Smith' or 'the
Company')
Director and PDMR Shareholdings
20 September 2021
Hill & Smith 2014 Long-Term Incentive Plan
LTIP Award - 16 September 2021
On 16 September 2021 the Remuneration Committee of the Company
approved the grant of awards, in the form of nil-cost options over
ordinary shares in the Company in accordance with the provisions of
the Hill & Smith Holdings 2014 Long Term Incentive Plan (the
"LTIP").
Mr P Simmons has been granted a nil-cost option over 58,762
ordinary shares and Mrs H K Nichols has been granted a nil-cost
option over 31,075 ordinary shares.
Under the rules of the LTIP and the Company's Remuneration
Policy, the vesting of the Awards is subject to the achievement of
set performance conditions. In the Directors' Remuneration Report
for the year ending 31 December 2020, the Company noted that it
would confirm these when the awards were granted. As with previous
years, the performance measures are based 50% upon the Company's
underlying earnings per share and 50% upon its Total Shareholder
Return ('TSR'). The relative TSR measure (including the comparator
group) remains the same as previously. Having regard to the impact
of the Covid-19 pandemic, the Remuneration Committee has concluded
that it would be better to set the EPS targets as absolute rather
than growth measures. The performance measures and targets are
summarised below.
Vesting amount Underlying Earnings per TSR performance over
Share for the year ending the three years ending
31 December 2023 (50% 31 December 2023 (50%
of the Awards) of the Awards)**
0% vesting Less than GBP0.82 Below median
--------------------------- ------------------------
Threshold: 20% GBP0.82 Median
vesting
--------------------------- ------------------------
100% vesting* 102p Upper quartile
--------------------------- ------------------------
*Straight line vesting applies between threshold and maximum
vesting
** compared to the FTSE 250 excluding investment trusts and
financial services companies
The Awards will (subject to the achievement of the performance
conditions) vest following the end of the performance period but
may not ordinarily be exercised until the end of a further two-year
holding period.
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Mr P Simmons
------------------------------------- ----------------------------------------------
2. Reason for the notification
-------------------------------------------------------------------------------------
(a) Position/status Chief Executive Officer
------------------------------------- ----------------------------------------------
(b) Initial notification/ Initial notification
Amendment
------------------------------------- ----------------------------------------------
3. Details of the issuer
-------------------------------------------------------------------------------------
(a) Name Hill & Smith Holdings PLC
------------------------------------- ----------------------------------------------
(b) LEI 2138003A3ISGQZBOWI83
------------------------------------- ----------------------------------------------
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 Ordinary shares of GBP0.25 each
the Financial
Instrument
------------------------------------- ----------------------------------------------
(b) Identification GB0004270301
code of the Financial
Instrument
------------------------------------- ----------------------------------------------
(c) Nature of the Grant of Nil-Cost Option as part of 2021
transaction LTIP Award
------------------------------------- ----------------------------------------------
(d) Price(s) and Price(s) Volume(s)
volume(s)
------------------ --------------------------
Nil 58,762 shares
------------------ --------------------------
(e) Aggregated information
- Aggregated
volume 58,762
- Price Nil
------------------------------------------- ----------------------------------------------
(f) Date of the transaction 16 September 2021
------------------------------------- ----------------------------------------------
(g) Place of the Outside a trading venue
transaction
------------------------------------- ----------------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Mrs H K Nichols
------------------------------------ -------------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------------
(a) Position/status Chief Financial Officer
------------------------------------ -------------------------------------------
(b) Initial notification/ Initial notification
Amendment
------------------------------------ -------------------------------------------
3. Details of the issuer
---------------------------------------------------------------------------------
(a) Name Hill & Smith Holdings PLC
------------------------------------ -------------------------------------------
(b) LEI 2138003A3ISGQZBOWI83
------------------------------------ -------------------------------------------
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 Ordinary shares of GBP0.25 each
the Financial
Instrument
------------------------------------ -------------------------------------------
(b) Identification GB0004270301
code of the Financial
Instrument
------------------------------------ -------------------------------------------
(c) Nature of the Grant of Nil-Cost Option as part of 2021
transaction LTIP Award
------------------------------------ -------------------------------------------
(d) Price(s) and Price(s) Volume(s)
volume(s)
----------------- ------------------------
Nil 31,075 shares
----------------- ------------------------
(e) Aggregated information
- Aggregated 31,075 shares
volume
- Price Nil Cost
------------------------------------ -------------------------------------------
(f) Date of the transaction 16 September 2021
------------------------------------ -------------------------------------------
(g) Place of the Outside a trading venue
transaction
------------------------------------ -------------------------------------------
Enquiries:
Alex Henderson
Company Secretary
Tel: +44 (0) 121 704 7430
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END
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