Grant of Options

RNS Number : 0769B

Brickability Group PLC

07 June 2021

 

7 June 2021

Brickability Group plc

(the "Company" or the "Group")

Grant of Options

Brickability Group plc, the leading construction materials distributor, announces that, on 4 June 2021, it awarded an option over 506,825 shares in the capital of the Company under the Brickability Group plc Long Term Incentive Plan ("LTIP") 2019 to Chief Financial Officer, Mike Gant. This is the first grant of options to Mr Gant under the LTIP since he officially joined the Group as a director on 30 April 2021.

Save as noted, the option is exercisable on the same terms as previous options granted under the Company's LTIP, being exercisable at the nominal price of £0.01 and have vesting conditions tied to adjusted EBITDA and total shareholder return, with each award split equally between the two performance conditions. Vesting will occur on a straight-line basis on achieving 18% (equivalent to 6% annually) to 30% (equivalent to 10% annually) of the relevant performance condition over the performance period. There is no vesting if the relevant target is not met but a 50% vesting if the initial 18% hurdle is met with a proportionate additional vesting up to 100% at the 30% threshold being met. The option will be subject to a two year holding period following the expiry of the performance period during which the option shares may not be sold (other than to pay any tax liability).

The performance period is three years ending 1 April 2024.

Enquiries: Brickability Group PLC	c/o Montfort Communications
John Richards, Chairman Alan Simpson, Chief Executive Officer
Mike Gant, Chief Financial Officer
Cenkos Securities (Nomad and Broker) Max Hartley, Max Gould (Corporate Finance)	0207 397 8900
Julian Morse, Alex Pollen (Sales)
Montfort Communications (Financial PR)	0203 770 7916
James Olley

The Company makes the following disclosures in accordance with article 19(3) of the Market Abuse Regulation:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mike Gant
2	Reason for the notification
a)	Position/status	CFO
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Brickability Group plc
b)	LEI	213800SK28MWXB3K3P26
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 for ordinary shares exercisable at £0.01 GB00BK63S759
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s) n/a   506,825
d)	Aggregated information - Aggregated volume - Price	n/a
e)	Date of the transaction	4 June 2021
f)	Place of the transaction	n/a

 

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