NWF Group PLC Award of Options (6617M)
01 August 2017 - 4:02PM
UK Regulatory
TIDMNWF
RNS Number : 6617M
NWF Group PLC
01 August 2017
NWF Group plc
For release 1 August 2017
NWF Group plc ('NWF', 'the Group' or 'the Company')
Award of Options under Company Performance Share Plan
NWF Group plc, the specialist agricultural and distribution
business, announces the following award has been approved under the
terms of the established NWF Company Performance Share Plan (the
"Plan").
Richard Whiting, Chief Executive of NWF, will receive an award
of a conditional right over a maximum of 191,864 ordinary shares of
25 pence each of the Company ("Shares") at a price of 147.5 pence
per Share, being the mid-market price at the close of business on
31 July 2017. This award is subject to the following performance
targets:
1. if the reported headline basic earnings per share for the
three financial years ending 31 May 2020 increases by RPI plus 3%
per annum then 57,559 Shares will be issued under the Plan; and
2. the maximum of 191,864 Shares will be issued if the reported
headline basic earnings per share increases by RPI plus 10% per
annum for the three financial years ending 31 May 2020.
Following the award, Richard Whiting will be interested in
518,587 conditional awards over Shares.
Chris Belsham, Group Finance Director of NWF, will receive an
award of a conditional right over a maximum of 115,254 ordinary
shares of 25 pence each of the Company ("Shares") at a price of
147.5 pence per Share, being the mid-market price at the close of
business on 31 July 2017. This award is subject to the following
performance targets:
1. if the reported headline basic earnings per share for the
three financial years ending 31 May 2020 increases by RPI plus 3%
per annum then 34,576 Shares will be issued under the Plan; and
2. the maximum of 115,254 Shares will be issued if the reported
headline basic earnings per share increases by RPI plus 10% per
annum for the three financial years ending 31 May 2020.
Following the award, Chris Belsham will be interested in 115,254
conditional awards over Shares.
Rob Andrew, Group Company Secretary of NWF, will receive an
award of a conditional right over a maximum of 86,441 Shares at a
price of 147.5 pence per Share, being the mid-market price at the
close of business on 31 July 2017. This award is subject to the
following performance targets:
1. if the reported headline basic earnings per share for the
three financial years ending 31 May 2020 increases by RPI plus 3%
per annum then 25,932 Shares will be issued under the Plan; and
2. the maximum of 86,441 Shares will be issued if the reported
headline basic earnings per share increases by RPI plus 10% per
annum for the three financial years ending 31 May 2020.
Following the award, Rob Andrew will be interested in 233,600
conditional awards over Shares.
The Plan was established for the purpose of incentivising and
retaining the Company's eligible executive management. Shares
awarded under the Plan are subject to a performance criteria that
requires NWF to meet a minimum reported basic earnings per share
target over a three year period. The Remuneration Committee has
responsibility for determining the award of Shares and the
performance targets under the Plan.
Enquiries:
Rob Andrew Reg Hoare / Andrew Leach Justin Jones / Mike Bell
Group Company Secretary MHP Communications Peel Hunt LLP
NWF Group plc Tel: 0203 128 8100 (Nominated Adviser)
Tel: 01829 260 260 Tel: 020 7418 8900
This information is provided by RNS
The company news service from the London Stock Exchange
END
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