Property Franchise Group PLC (The) New Long Term Incentive Plan (6940H)
09 June 2017 - 9:37PM
UK Regulatory
TIDMTPFG
RNS Number : 6940H
Property Franchise Group PLC (The)
09 June 2017
THE PROPERTY FRANCHISE GROUP PLC
(the "Company" or the "Group")
New Long Term Incentive Plan
The Property Franchise Group, the UK's largest property
franchisor with 6 brands across a network of 375 offices, today
announces that it has granted options over new ordinary shares in
the Company to its Chief Executive Officer and Chief Financial
Officer under a new TPFG Share Option Plan. The awards, which are
the first to the Executives since the Initial Public Offering in
December 2013, recognise each of their roles in developing and
implementing the Company's strategic plans and are designed to
continue to incentivise them appropriately.
The awards will be subject to the growth in the Company's basic
earnings per share, excluding exceptional income/costs and share
based payments ("adjusted EPS") over the 3 years to 31 December
2019. Adjusted EPS growth of 15% over the period will be required
for threshold vesting of the awards, with adjusted EPS growth of
44% or higher required for all of the awards to vest. There will be
a straight line sliding scale between these two points. None of the
awards will vest for adjusted EPS growth below 15% over the
period.
The maximum awards are stated below.
Name Position Number of shares
subject to awards
Ian Wilson Chief Executive 1,000,000
David Raggett Chief Financial Officer 500,000
Immediately prior to these awards the Company's issued share
capital was 25,822,750 Ordinary Shares and there were outstanding
awards granted under the EMI scheme over 64,800 Ordinary
Shares.
Further detail is provided below in accordance with Article 19.3
of the EU Market Abuse Regulation.
Details of the person discharging managerial
1 responsibilities/person closely associated.
---- --------------------------------------------------------------------------------------------------------
a) Name: Ian Wilson David Raggett
---- ------------------------------ ---------------------- ---------- ---------------------------------
Reason for
2 notification.
---- -------------------------------- ---------------------- ---------- --------------------- ----------
a) Position/Status: Chief Executive Chief Financial
Officer
---- ------------------------------- ---------------------------------- ---------------------------------
b) Initial Notification/Amendment: Initial Notification Initial Notification
---- -------------------------------- ---------------------------------- ---------------------------------
Details of the issuer, emission allowance market
3 participation, auction platform,
auctioneer
or auction
monitor.
---- -------------------------------- ---------------------- ---------- --------------------- ----------
a) Name: The Property Franchise The Property Franchise
Group PLC Group PLC
---- ------------------------------ ---------------------------------- ---------------------------------
b) LEI: 2138008J5PTJ8C77I535 2138008J5PTJ8C77I535
---- ------------------------------ ---------------------- ---------- --------------------- ----------
Details of transaction(s);section to berepeated
for (i) each type of instrument; (ii) each
4 type
of transaction; (iii) each date; and (iv) each
place where transactions have been conducted.
---- --------------------------------------------------------------------------------------------------------
a) Description Ordinary Shares Ordinary Shares
of the financial of of
instrument:
1 pence each 1 pence each
Identification ISIN: GB00BH0WFH67 ISIN: GB00BH0WFH67
code:
---- ------------------------------- ---------------------------------- ---------------------------------
b) Nature of Grant of nil cost Grant of nil cost
transaction: options options
over Company's over Company's
shares shares
---- ------------------------------ ---------------------------------- ---------------------------------
c) Price(s) Price(s) Volume(s) Price(s) Volume(s)
and volume(s)
---------------------- ---------- --------------------- ----------
1 pence 1 pence
each 1,000,000 each 500,000
---------------------------------------------------------- ---------- --------------------- ----------
d) Aggregatted n/a n/a
volume:
Price: n/a n/a
--------------------------------- ------------------------ ---------- --------------------- ----------
e) Date of 9 June 2017 9 June 2017
Transaction:
---- ------------------------------- ---------------------------------- ---------------------------------
f) Place of London Stock Exchange London Stock Exchange
the Transaction
---- -------------------------------- ---------------------------------- ---------------------------------
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
For further information, please contact:
The Property Franchise Group PLC 01202 292829
Ian Wilson, Chief Executive Officer
David Raggett, Chief Financial Officer
Cenkos Securities plc 0207 397 8925
Max Hartley(Nomad), Alex Aylen (Sales)
Bell Pottinger 020 3772 2500
David Rydell, Henry Lerwill
This information is provided by RNS
The company news service from the London Stock Exchange
END
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