New Long-Term Incentive Plan

RNS Number : 9131D

Belvoir Group PLC

01 July 2021

 

1 July 2021

This announcement contains inside information.  

BELVOIR!
 

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 nil cost options over 635,183 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: diluted earnings per share ("EPS"), adjusted to exclude exceptional items over the three years to 31 December 2023. 

A floor of 16.9p per share and a cap of 22.2p per share applies to the EPS Performance Condition; these represent growth over the three years of 15.8% and 52.1% respectively.  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                               247,347

Louise George  Chief Finance Officer, Belvoir Group PLC                                  207,122

Mark Newton Executive Director, Belvoir Group PLC                                      103,041

Michelle Brook  Managing Director, Brook Financial Services Ltd                           9,527

Philip Gee  Managing Director, Northwood GB Limited                                    8,327

David Spackman  Manging Director, Newton Fallowell Limited                                   6,531

Ian Maclean                    Franchise Director, Belvoir Property Management (UK) Limited  6,531

Tim Wood                       Financial Services Director, Brook Financial Services Ltd              4,580

Julie Wilson  Group Financial Controller, Belvoir Group PLC                               5,094

Immediately prior to these awards the Company's issued share capital was 36,231,162 ordinary shares and there were outstanding EMI options of 335,000, CSOP options of 334,589 and LTIP options of 644,727.

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	Ordinary Shares of  1 pence each ISIN: GB00B4QY1P51		Ordinary Shares of  1 pence each ISIN: GB00B4QY1P51
b.	Nature of the transaction	Grant of nil cost options		Grant of nil cost options
c.	Price(s) and volume(s)	Over Company's shares		Over Company's shares
		Price 1 pence each	Volume 247,347	Price 1 pence each	Volume 207,122
d.	Aggregated information - Aggregated Volume - Price	n/a n/a		n/a n/a
e.	Date of the transaction	30 June 2021		30 June 2021
f.	Place of the transaction	London Stock Exchange		London Stock Exchange

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	Mark Newton		Michelle Brook
2	Reason for notification
a.	Position/Status	Executive Director, Belvoir Group PLC		Managing 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	Ordinary Shares of  1 pence each ISIN: GB00B4QY1P51		Ordinary Shares of  1 pence each ISIN: GB00B4QY1P51
b.	Nature of the transaction	Grant of nil cost options		Grant of nil cost options
c.	Price(s) and volume(s)	Over Company's shares		Over Company's shares
		Price 1 pence each	Volume 103,041	Price 1 pence each	Volume 9,527
d.	Aggregated information - Aggregated Volume - Price	n/a n/a		n/a n/a
e.	Date of the transaction	30 June 2021		30 June 2021
f.	Place of the transaction	London Stock Exchange		London Stock Exchange

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	Philip Gee		David Spackman
2	Reason for notification
a.	Position/Status	Managing Director, Northwood GB Limited		Managing Director, Newton Fallowell 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	Ordinary Shares of  1 pence each ISIN: GB00B4QY1P51		Ordinary Shares of  1 pence each ISIN: GB00B4QY1P51
b.	Nature of the transaction	Grant of nil cost options		Grant of nil cost options
c.	Price(s) and volume(s)	Over Company's shares		Over Company's shares
		Price 1 pence each	Volume 8,327	Price 1 pence each	Volume 6,531
d.	Aggregated information - Aggregated Volume - Price	n/a n/a		n/a n/a
e.	Date of the transaction	30 June 2021		30 June 2021
f.	Place of the transaction	London Stock Exchange		London Stock Exchange

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	Ian Maclean		Tim Wood
2	Reason for notification
a.	Position/Status	Franchise Director, Belvoir Property Management (UK) Limited		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	Ordinary Shares of  1 pence each ISIN: GB00B4QY1P51		Ordinary Shares of  1 pence each ISIN: GB00B4QY1P51
b.	Nature of the transaction	Grant of nil cost options		Grant of nil cost options
c.	Price(s) and volume(s)	Over Company's shares		Over Company's shares
		Price 1 pence each	Volume 6,531	Price 1 pence each	Volume 4,580
d.	Aggregated information - Aggregated Volume - Price	n/a n/a		n/a n/a
e.	Date of the transaction	30 June 2021		30 June 2021
f.	Place of the transaction	London Stock Exchange		London Stock Exchange

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
2	Reason for notification
a.	Position/Status	Group Financial Controller, Belvoir Group PLC
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Belvoir Group PLC
b.	LEI	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	Ordinary Shares of  1 pence each ISIN: GB00B4QY1P51
b.	Nature of the transaction	Grant of nil cost options
c.	Price(s) and volume(s)	Over Company's shares
		Price 1 pence each	Volume 5,094
d.	Aggregated information - Aggregated Volume - Price	n/a n/a
e.	Date of the transaction	30 June 2021
f.	Place of the transaction	London Stock Exchange

For further details:

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

Notes for editors:

About Belvoir Group PLC

Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir operates a nationwide property franchise group with 439 offices across six brands specialising in residential lettings, property management, residential sales and property-related financial services. With its Central Office in Grantham, Lincolnshire, the Group manages over 71,500 properties and reported record revenues of £21.7m in 2020 marking Belvoir's 24^th year of unbroken profit growth.

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

 

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