Grant of Options

RNS Number : 6578U

Belvoir Group PLC

02 August 2022

 

2 August 2022

 

BELVOIR GROUP PLC

(the "Company", the "Group" or "Belvoir")

New Long-Term Incentive Plan

Belvoir Group PLC (AIM:BLV), a leading UK property franchise group, today announces that it has granted nominal cost options over 329,265 new ordinary shares in the Company to its Executive Directors and members of its senior management team under the Belvoir Group Performance Share Plan.  The awards reflect their roles and responsibilities in determining and executing the Group strategic growth plans and are intended to retain and incentivise the executive directors and senior management team accordingly.

The awards will be 100% subject to an EPS Performance Condition: the cumulative diluted earnings per share ("EPS"), adjusted to exclude exceptional items for the three years to 31 December 2024. 

A floor of 62.7p per share and a cap of 72.1p per share applies to the EPS Performance Condition.  The floor requires the Belvoir Group to achieve the cumulative diluted adjusted EPS for the three years to 31 December 2024 as per the current market forecast for that period.  The cap requires the Group to exceed the cumulative diluted adjusted EPS for the three years to 31 December 2024 as per the current market forecast by 15%.  Where performance is below the floor, no options will vest; where performance is at the floor, 25% of the options will vest; and where performance is at or above the cap, 100% will vest. Straight-line vesting applies between the floor and the cap.

The maximum awards for directors and PDMRs are stated below:

Name  Position  Number of shares

  subject to awards

Dorian Gonsalves  Chief Executive Officer, Belvoir Group PLC  101,075

Louise George  Chief Financial Officer, Belvoir Group PLC  92,475

Michelle Brook  Financial Services Director, Belvoir Group PLC  58,065

Philip Gee  Managing Director, Northwood GB Limited  8,000

David Spackman  Managing Director, Newton Fallowell Limited  8,000

Ian Maclean  Franchise Director, Belvoir Property Management (UK) Limited  8,000

Tim Wood  Financial Services Director, Brook Financial Services Ltd  6,050

Julie Wilson  Group Financial Controller, Belvoir Group PLC  6,050

Immediately prior to these awards the Company's issued share capital was 37,292,113 ordinary shares and there were outstanding CSOP options of 233,365 and LTIP options of 542,142.

Further details on these grants are included in the notifications below, made in accordance with the requirements of the EU Market Abuse Regulation which is part of English law by virtue of the European Union (Withdrawal) Act 2018.

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Dorian Gonsalves		Louise George
2	Reason for notification
a.	Position/Status	Chief Executive Officer, Belvoir Group PLC		Chief Financial Officer, Belvoir Group PLC
b.	Initial notification/ Amendment	Initial Notification		Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Belvoir Group PLC		Belvoir Group PLC
b.	LEI	N/A		N/A
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 instrument, type of instrument Identification Code	Options over Ordinary Shares of 1 pence each n/a		Options over Ordinary Shares of 1 pence each n/a
b.	Nature of the transaction	Grant of nominal cost options		Grant of nominal cost options
c.	Price(s) and volume(s)
		Price 1 pence each	Volume 101,075	Price 1 pence each	Volume 92,475
d.	Aggregated information - Aggregated Volume - Price	n/a n/a		n/a n/a
e.	Date of the transaction	2 August 2022		2 August 2022
f.	Place of the transaction	Off market		Off market

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Michelle Brook		Philip Gee
2	Reason for notification
a.	Position/Status	Financial Services Director, Belvoir Group PLC		Managing Director, Northwood GB Limited
b.	Initial notification/ Amendment	Initial Notification		Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Belvoir Group PLC		Belvoir Group PLC
b.	LEI	N/A		N/A
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 instrument, type of instrument Identification Code	Options over Ordinary Shares of 1 pence each n/a		Options over Ordinary Shares of 1 pence each n/a
b.	Nature of the transaction	Grant of nominal cost options		Grant of nominal cost options
c.	Price(s) and volume(s)
		Price 1 pence each	Volume 58,065	Price 1 pence each	Volume 8,000
d.	Aggregated information - Aggregated Volume - Price	n/a n/a		n/a n/a
e.	Date of the transaction	2 August 2022		2 August 2022
f.	Place of the transaction	Off market		Off market

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	David Spackman		Ian Maclean
2	Reason for notification
a.	Position/Status	Managing Director, Newton Fallowell Limited		Franchise Director, Belvoir Property Management (UK) Limited
b.	Initial notification/ Amendment	Initial Notification		Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Belvoir Group PLC		Belvoir Group PLC
b.	LEI	N/A		N/A
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 instrument, type of instrument Identification Code	Options over Ordinary Shares of 1 pence each n/a		Options over Ordinary Shares of 1 pence each n/a
b.	Nature of the transaction	Grant of nominal cost options		Grant of nominal cost options
c.	Price(s) and volume(s)
		Price 1 pence each	Volume 8,000	Price 1 pence each	Volume 8,000
d.	Aggregated information - Aggregated Volume - Price	n/a n/a		n/a n/a
e.	Date of the transaction	2 August 2022		2 August 2022
f.	Place of the transaction	Off market		Off market

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014
1	Details of the person discharging managerial responsibilities/person closely associated
a.	Name	Julie Wilson		Tim Wood
2	Reason for notification
a.	Position/Status	Group Financial Controller, Belvoir Group PLC		Financial Services Director, Brook Financial Services Ltd
b.	Initial notification/ Amendment	Initial Notification		Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Belvoir Group PLC		Belvoir Group PLC
b.	LEI	N/A		N/A
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 instrument, type of instrument Identification Code	Options over Ordinary Shares of 1 pence each n/a		Options over Ordinary Shares of 1 pence each n/a
b.	Nature of the transaction	Grant of nominal cost options		Grant of nominal cost options
c.	Price(s) and volume(s)
		Price 1 pence each	Volume 6,05 0	Price 1 pence each	Volume 6, 050
d.	Aggregated information - Aggregated Volume - Price	n/a n/a		n/a n/a
e.	Date of the transaction	2 August 2022		2 August 2022
f.	Place of the transaction	Off market		Off market

For further details:

Belvoir Group PLC Dorian Gonsalves, Chief Executive Officer Louise George, Chief Financial Officer www.belvoirgroup.com	01476 584900 [e-mail]
finnCap Julian Blunt, Teddy Whiley (Corporate Finance) Tim Redfern (ECM) www.finncap.com		[phone]
Buchanan Charles Ryland & Kim van Beeck	[phone]

Notes:

About Belvoir Group PLC

Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir operates a nationwide property franchise Group with 463 offices across seven brands specialising in residential lettings, property management, residential sales and property-related financial services. With its Central Office in Grantham, Lincolnshire, the Group manages 72,900 properties and reported record revenues of £29.6m in 2021 marking Belvoir's 25th year of unbroken profit growth.

For further information, please visit: www.belvoirgroup.com

 

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