HSS Hire Group PLC Grant of incentive awards (3942Q)
26 February 2021 - 1:20AM
UK Regulatory
TIDMHSS
RNS Number : 3942Q
HSS Hire Group PLC
25 February 2021
HSS Hire Group plc
Grant of incentive awards
On 25 February 2021, HSS Hire Group plc (the "Company") granted
awards in accordance with the terms of its new Value Creation Plan
(the "VCP") to certain Executives, as detailed below (the
"Executives").
Under the VCP the Executives will share in total 20% of the
increase in the value of the Company up to the time of a change of
control (or other relevant event) (the "VCP Pool"). Each Executive
will be entitled to one third of the VCP Pool. The VCP has been
designed by the Company's Remuneration Committee in consultation
with the Company's major shareholders.
The increase in the value of the Company will be calculated by
reference to the increase in its market capitalisation from an
opening value of GBP104,471,648 (based on a share price of GBP0.15)
to the closing market capitalisation on an exit event. Appropriate
adjustments shall be made in respect of any capital raised from or
returned to shareholders over the period. Awards under the VCP will
be settled in cash other than in certain circumstances where an
award which vests early to a "good leaver" may be settled in
shares.
The Executives will not participate in future Company share
incentive schemes.
This announcement, including the notifications below, has been
made in accordance with the requirements of the Market Abuse
Regulation.
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Steve Ashmore
--------------------------------- -----------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------------------- -----------------------------------
b) Initial notification/ Amendment Initial notification
--------------------------------- -----------------------------------
3 Details of the issuer
----------------------------------------------------------------------
a) Name HSS Hire Group plc
--------------------------------- -----------------------------------
b) LEI code 2138004DGL1J6VQO6S92
--------------------------------- -----------------------------------
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 the financial A right under the HSS Hire VCP
instrument, type of instrument to receive a payment by reference
Identification code to the growth in value of HSS
Hire Group plc
--------------------------------- -----------------------------------
b) Identification code N/A
--------------------------------- -----------------------------------
c) Nature of the transaction Grant of award
--------------------------------- -----------------------------------
d) Price(s) and volume(s) Price Volume
N/A N/A
-------
--------------------------------- -----------------------------------
e) Aggregated information N/A
- Aggregated volume
- Price
--------------------------------- -----------------------------------
f) Date of the transaction 25 February 2021
--------------------------------- -----------------------------------
g) Place of the transaction Outside a trading venue
--------------------------------- -----------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Paul Quested
--------------------------------- -----------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status Chief Financial Officer
--------------------------------- -----------------------------------
b) Initial notification/ Amendment Initial notification
--------------------------------- -----------------------------------
3 Details of the issuer
----------------------------------------------------------------------
a) Name HSS Hire Group plc
--------------------------------- -----------------------------------
b) LEI code 2138004DGL1J6VQO6S92
--------------------------------- -----------------------------------
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 the financial A right under the HSS Hire VCP
instrument, type of instrument to receive a payment by reference
Identification code to the growth in value of HSS
Hire Group plc
--------------------------------- -----------------------------------
b) Identification code N/A
--------------------------------- -----------------------------------
c) Nature of the transaction Grant of award
--------------------------------- -----------------------------------
d) Price(s) and volume(s) Price Volume
N/A N/A
-------
--------------------------------- -----------------------------------
e) Aggregated information N/A
- Aggregated volume
- Price
--------------------------------- -----------------------------------
f) Date of the transaction 25 February 2021
--------------------------------- -----------------------------------
g) Place of the transaction Outside a trading venue
--------------------------------- -----------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Tom Shorten
--------------------------------- -----------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status Chief Commercial Officer
--------------------------------- -----------------------------------
b) Initial notification/ Amendment Initial notification
--------------------------------- -----------------------------------
3 Details of the issuer
----------------------------------------------------------------------
a) Name HSS Hire Group plc
--------------------------------- -----------------------------------
b) LEI code 2138004DGL1J6VQO6S92
--------------------------------- -----------------------------------
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 the financial A right under the HSS Hire VCP
instrument, type of instrument to receive a payment by reference
Identification code to the growth in value of HSS
Hire Group plc
--------------------------------- -----------------------------------
b) Identification code N/A
--------------------------------- -----------------------------------
c) Nature of the transaction Grant of award
--------------------------------- -----------------------------------
d) Price(s) and volume(s) Price Volume
N/A N/A
-------
--------------------------------- -----------------------------------
e) Aggregated information N/A
- Aggregated volume
- Price
--------------------------------- -----------------------------------
f) Date of the transaction 25 February 2021
--------------------------------- -----------------------------------
g) Place of the transaction Outside a trading venue
--------------------------------- -----------------------------------
For further information, please contact:
HSS Hire Group plc Tel: 020 3757 9248
Investor Relations Manager Please email: investors@hss.com
Numis Securities Tel: 020 7260 1000
Stuart Skinner
George Price
Teneo Tel: 07785 528363 / 07557 491860
Matt Thomlinson
Tom Davies
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