Churchill China PLC PDMR Dealing - Grant of Options (2571E)
05 May 2017 - 4:01PM
UK Regulatory
TIDMCHH
RNS Number : 2571E
Churchill China PLC
04 May 2017
Churchill China plc (the "Company")
PDMR Dealing - Grant of Options under LTIP
Grant of Share Options
On 04 May 2017, the following options over 10p ordinary shares
in the Company ("Ordinary Shares") were granted under the Churchill
China Long Term Incentive Plan ("CCLTIP") (the "Grants") for nil
consideration:
Director Position Number of Exercise Market
options over Price Price
Ordinary at Date
Shares granted of Grant
---------------- ----------------- ---------------- --------- ----------
Chief Executive
David O'Connor Officer 15,179 10p 1,047.5p
---------------- ----------------- ---------------- --------- ----------
Finance
David Taylor Director 11,685 10p 1,047.5p
---------------- ----------------- ---------------- --------- ----------
Sales and
Marketing
James Roper Director 9,737 10p 1,047.5p
---------------- ----------------- ---------------- --------- ----------
The Grants are subject to the achievement of performance
conditions as specified by the Remuneration Committee and are
subject to claw back provisions in certain circumstances. The
performance conditions require that the Company's adjusted
(pre-exceptional items and adjusted for pension interest charges
and credits) earnings per share ("Adjusted EPS") for the financial
year ending 31 December 2019 reaches the following figures for each
level of vesting:
Adjusted % Increase % of Grant
EPS for year on 2016 that Vests
ending 31
December
2019
-------------- ----------- ------------
61.9p 26% 25%
-------------- ----------- ------------
65.2p 33% 40%
-------------- ----------- ------------
68.5p 40% 100%
-------------- ----------- ------------
Between these target levels, share options will vest on a
straight line basis and shares will vest, subject to the
achievement of these performance conditions, from 4 May 2020.
The Adjusted EPS for the base year 2016 has been calculated as
49.0p excluding the net effect of pension fund interest
charges.
The Grant values represent 60 per cent of current base salary
for each participant.
Resultant Holdings
Following the Grant of new options set out above:
David O'Connor is interested in 41,613 Ordinary Shares
representing 0.4 per cent. of the total issued share capital of the
Company. David O'Connor also holds options over Ordinary Shares as
follows:
Options Option Exercise Expiry
Held Price Date
-------- ---------------- -----------
15,179 10p 02.05.2027
-------- ---------------- -----------
12,698 10p 16.05.2026
-------- ---------------- -----------
16,804 10p 07.05.2025
-------- ---------------- -----------
17,571 10p 01.05.2024
-------- ---------------- -----------
David Taylor is interested in 54,489 Ordinary Shares
representing 0.5 per cent. of the total issued share capital of the
Company. David Taylor also holds options over Ordinary Shares as
follows:
Options Option Exercise Expiry
Held Price Date
-------- ---------------- -----------
11,685 10p 02.05.2027
-------- ---------------- -----------
10,159 10p 16.05.2026
-------- ---------------- -----------
14,123 10p 07.05.2025
-------- ---------------- -----------
16,580 10p 01.05.2024
-------- ---------------- -----------
James Roper is interested in 1,052,500 Ordinary Shares
representing 9.6 per cent. of the total issued share capital of the
Company. James Roper also holds options over Ordinary Shares as
follows:
Options Option Exercise Expiry
Held Price Date
-------- ---------------- -----------
9,737 10p 02.05.2027
-------- ---------------- -----------
8,127 10p 16.05.2026
-------- ---------------- -----------
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation, provides further detail:
1 Details of the person discharging managerial
responsibilities / person closely associated
---- ------------------------------------------------------------------
a) Name David O'Connor
---- ------------------------------ ----------------------------------
2 Reason for the notification
---- ------------------------------------------------------------------
a) Position/status Chief Executive Officer
---- ------------------------------ ----------------------------------
b) Initial notification Initial Notification
/Amendment
---- ------------------------------ ----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---- ------------------------------------------------------------------
a) Name Churchill China plc
---- ------------------------------ ----------------------------------
b) LEI 213800GQ51I4LZQ5AR09
---- ------------------------------ ----------------------------------
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 10 pence
the financial each
instrument, type
of instrument
----
Identification GB0001961035
code
b) Nature of the Grant of options to acquire
transaction ordinary shares (exercise
price of 10p)
---- ------------------------------ ----------------------------------
c) Price(s) and volume(s)
---- --------------- --------------
Price(s) Volume(s)
---- --------------- --------------
10 pence 15,179
--------------------------------------------------- --------------
d) Aggregated information n/a
----
- Aggregated volume
- Price
e) Date of the transaction 4 May 2017
---- ------------------------------ ----------------------------------
f) Place of the transaction Off market
---- ------------------------------ ----------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
---- -----------------------------------------------------------------
a) Name David Taylor
---- ----------------------------- ----------------------------------
2 Reason for the notification
---- -----------------------------------------------------------------
a) Position/status Finance Director
---- ----------------------------- ----------------------------------
b) Initial notification Initial Notification
/Amendment
---- ----------------------------- ----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---- -----------------------------------------------------------------
a) Name Churchill China plc
---- ----------------------------- ----------------------------------
b) LEI 213800GQ51I4LZQ5AR09
---- ----------------------------- ----------------------------------
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 10 pence
the financial each
instrument, type
of instrument
----
Identification GB0001961035
code
b) Nature of the Grant of options to acquire
transaction ordinary shares (exercise
price of 10p)
---- ----------------------------- ----------------------------------
c) Price(s) and
volume(s)
---- --------------- --------------
Price(s) Volume(s)
---- --------------- --------------
10 pence 11,685
-------------------------------------------------- --------------
d) Aggregated information n/a
----
- Aggregated
volume
- Price
e) Date of the transaction 4 May 2017
---- ----------------------------- ----------------------------------
f) Place of the Off market
transaction
---- ----------------------------- ----------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
---- ------------------------------------------------------------------
a) Name James Roper
---- ----------------------------- -----------------------------------
2 Reason for the notification
---- ------------------------------------------------------------------
a) Position/status Sales and Marketing Director
---- ----------------------------- -----------------------------------
b) Initial notification Initial Notification
/Amendment
---- ----------------------------- -----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---- ------------------------------------------------------------------
a) Name Churchill China plc
---- ----------------------------- -----------------------------------
b) LEI 213800GQ51I4LZQ5AR09
---- ----------------------------- -----------------------------------
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 10 pence
the financial each
instrument, type
of instrument
----
Identification GB0001961035
code
b) Nature of the Grant of options to acquire
transaction ordinary shares (exercise
price of 10p)
---- ----------------------------- -----------------------------------
c) Price(s) and
volume(s)
---- ---------------- --------------
Price(s) Volume(s)
---- ---------------- --------------
10 pence 9,737
--------------------------------------------------- --------------
d) Aggregated information n/a
----
- Aggregated
volume
- Price
e) Date of the transaction 4 May 2017
---- ----------------------------- -----------------------------------
f) Place of the Off market
transaction
---- ----------------------------- -----------------------------------
For further details, please contact:
Churchill China plc
David Taylor, Finance
Director +44 (0)1782 577566
N+1 Singer (NOMAD &
Broker)
Richard Lindley / James
White +44 (0)20 7496 3000
Buchanan
Mark Court /Sophie Cowles
/Jane Glover +44(0)20 7466 5000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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