Springfield Properties PLC Grant of performance share awards (5167Z)
13 January 2020 - 6:00PM
UK Regulatory
TIDMSPR
RNS Number : 5167Z
Springfield Properties PLC
13 January 2020
13 January 2020
Springfield Properties plc
("Springfield" or the "Company")
Grant of performance share awards
Springfield Properties plc (AIM: SPR), a leading housebuilder in
Scotland offering private and affordable housing, announces that,
on 9 January 2020, the Company granted options over ordinary shares
of 0.125 pence each in the capital of the Company ("Awards") to
certain PDMRs, pursuant to the Company's newly established
Performance Share Plan (the "PSP"), the details of which are set
out below:
Name Role No. of Shares over which
Awards granted
Chief Executive
Innes Smith Officer 127,828
----------------- -------------------------
Chief Financial
Michelle Motion Officer 68,176
----------------- -------------------------
The PSP has been established to incentivise Directors and senior
management to deliver long term value for shareholders and align
their interest with shareholders whilst minimising dilution to
shareholders. Further details of the PSP will be included in the
Company's next annual report and financial statements (the "Annual
Report").
No consideration was paid for the grant of the Awards, which
have been structured as "nominal cost" options. The Awards will
normally vest on the third anniversary of grant but only if, and to
the extent that, certain performance conditions are satisfied.
These conditions (which have been set by the Remuneration Committee
of the Company and will be assessed over a total of three financial
years) relate to the achievement of specified targets applicable to
earnings per share and net debt / EBITDA. Vesting will also
normally be dependent on the continued employment of the
participant within the Company's group.
Once the Awards have vested, they will generally be available to
be exercised until the tenth anniversary of their original grant.
On any such exercise, additional "dividend equivalent" entitlements
may also be paid to the relevant individuals.
Further details of the performance conditions for the above
Awards will be included in the Company's Annual Report.
Enquiries
Springfield Properties
Sandy Adam, Executive Chairman
Innes Smith, Chief Executive Officer +44 1343 552550
N+1 Singer
Shaun Dobson, James Moat (Corporate Finance)
Rachel Hayes (Corporate Broking) +44 20 7496 3000
Luther Pendragon
Harry Chathli, Claire Norbury, Alexis Gore, Joe Quinlan +44 20 7618 9100
The following notifications are intended to satisfy the
Company's obligations under Article 19(3) of EU Regulation No
596/2014 (the Market Abuse Regulation).
1 Details of the person discharging managerial responsibilities/person
closely associated
------------------------------------------------------------------------------
a) Name 1. Innes Smith
2. Michelle Motion
---- -------------------------- --------------------------------------------------
2 Reason for the notification
---- ------------------------------------------------------------------------------
a) Position/status 1. Chief Executive Officer
2. Chief Financial Officer
---- -------------------------- --------------------------------------------------
b) Initial notification/ Initial Notification
Amendment
---- -------------------------- --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---- ------------------------------------------------------------------------------
a) Name Springfield Properties plc
---- -------------------------- --------------------------------------------------
b) LEI 21380026UDE3LKFSDP68
---- -------------------------- --------------------------------------------------
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 0.125 pence each ("Shares")
the financial
instrument, type
of instrument
----
Identification GB00BF1QPG26
code
---- -------------------------- --------------------------------------------------
b) Nature of the Grant of awards (in the form of nominal cost
transaction options) over Shares pursuant to the Springfield
Properties plc Performance Share Plan
---- -------------------------- --------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------
0.125 pence (exercise
1. price) 127,828
--- ---------------------- ----------
0.125 pence (exercise
2. price) 68,176
--- ---------------------- ----------
---- -------------------------- --------------------------------------------------
d) Aggregated information
* Aggregated volume 1. N/A single transaction
2. N/A single transaction
* Price
---- -------------------------- --------------------------------------------------
e) Date of the transaction 2020-01-09
---- -------------------------- --------------------------------------------------
f) Place of the transaction Off market
---- -------------------------- --------------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHKKBBPKBKBQDD
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