Hill & Smith Hldgs PLC Director/PDMR Shareholding (4773H)
13 March 2018 - 4:23AM
UK Regulatory
TIDMHILS
RNS Number : 4773H
Hill & Smith Hldgs PLC
12 March 2018
Hill & Smith Holdings PLC ('Hill & Smith' or 'the
Company')
Director and PDMR Shareholdings
12 March 2018
Notification under paragraphs 3.1.2R to 3.1.4R of the Disclosure
and Transparency Rules
Hill & Smith 2014 Long-Term Incentive Plan
LTIP Vesting - 2015 Award
Hill & Smith announces that the Remuneration Committee (the
'Committee') has approved the vesting of 100% of the awards that
were made on 17 March 2015 to the below Directors and persons
discharging managerial responsibilities in accordance with the
rules of the Hill & Smith Holdings PLC 2014 Long-term Incentive
Plan (the 'LTIP').
For awards made under the LTIP the Committee, in making such
option awards, and using its discretion, specified that subject to
the rules of the LTIP the Company would procure the transfer to Mr
D W Muir and Mr M Pegler such additional number of award shares as
could have been acquired by the reinvestment of dividends paid on
the original award shares. Such additional award shares vest in the
same proportion as the original award shares. The maximum number of
shares to be awarded in this way is to be determined on the basis
that each such dividend was reinvested on the date of payment of
that dividend at a price per share equal to the market value of a
share on that day.
The number of shares vested is net of the tax and national
insurance liability payable by the individual. The individual
forfeited an equivalent number of shares in order for the company
to meet this liability.
The participants are not required to make any payment for the
vesting shares which vest on achievement of specified performance
targets of growth in underlying earnings per share and relative
total shareholder return.
Total Award Shares
vested
------------- -------------------
Mr D W Muir 41,329
------------- -------------------
Mr M Pegler 26,444
------------- -------------------
Hill & Smith 2014 Long-Term Incentive Plan
LTIP Award - 12 March 2018
On 12 March 2016 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 D W Muir has been granted a nil-cost option over 47,690
ordinary shares and Mr M Pegler has been granted a nil-cost option
over 33,387 ordinary shares.
The awards were based on a share price of 1331.00p, being the
average of the mid-market prices for the three trading days prior
to the grant date of 12 March 2018.
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 which are based upon the growth in the
Company's underlying earnings per share and its total shareholder
return, over the three year period commencing on 1 January 2018
(the "Vesting Period"). The awards will (subject to the achievement
of the performance conditions) vest following the end of the
Vesting Period.
Following these events Mr Muir and Mr Pegler have the following
interests in the Company's shares:
Individual Number of Total number Total number of shares
shares in of shares awarded or subject
which there awarded or to options under
is a beneficial subject to the ESOS and SAYE
interest options under Schemes
the LTIP
-------------- ----------------- --------------- ----------------------
Mr D
W Muir 335,286 149,924 8,844
-------------- ----------------- --------------- ----------------------
Mr M
Pegler 78,573 101,601 6,506
-------------- ----------------- --------------- ----------------------
1. Details of the person discharging managerial
responsibilities/person closely associated
---- -------------------------------------------------------------
(a) Name i. Mr D W Muir
ii. Mr M Pegler
---- ------------------------- ----------------------------------
2. Reason for the notification
---- -------------------------------------------------------------
(a) Position/status i. Chief Executive Officer
ii. Group Finance Director
---- ------------------------- ----------------------------------
(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 Ordinary shares of GBP0.25 each
of the Financial
Instrument
---- ------------------------- ----------------------------------
(b) Identification GB0004270301
code of the
Financial Instrument
---- ------------------------- ----------------------------------
(c) Nature of the Grant of awards
transaction
---- ------------------------- ----------------------------------
(d) Price(s) and Price(s) Volume(s)
volume(s)
-------------- ------------------
i. Nil i. 47,690
ii. Nil ii. 33,387
-------------- ------------------
(e) Aggregated 81,077 shares
information Nil Cost
* Aggregated volume
- Price
---- ------------------------- ----------------------------------
(f) Date of the 12 March 2018
transaction
---- ------------------------- ----------------------------------
(g) Place of the London Stock Exchange
transaction
---- ------------------------- ----------------------------------
Enquiries:
Alex Henderson
Company Secretary
Tel: +44 (0) 121 704 7430
This information is provided by RNS
The company news service from the London Stock Exchange
END
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