Grant of Options under LTIP

Churchill China PLC

24 May 2024

 

For immediate release

24 May 2024

CHURCHILL CHINA plc

("Churchill" or the "Company" or the "Group")

Grant of Options under LTIP

Churchill China plc (AIM: CHH), the manufacturer of innovative performance ceramic products serving hospitality markets worldwide, announces that on 24 May 2024, the following options over 10p ordinary shares in the Company ("Ordinary Shares") were granted to persons discharging managerial responsibilities ("PDMRs") under the Churchill China Long Term Incentive Plan ("CCLTIP") (the "Grants"):

Director	Position	Number of Options Over Ordinary Shares granted	Exercise Price	Market Price at Date of Grant
David O'Connor	Chief Executive Officer	32,191	10p	1,085p
James Roper	Sales and Marketing Director	24,969	10p	1,085p
Michael Cunningham	Chief Financial Officer	20,704	10p	1,085p
Marc Sinclair	Company Secretary	5,862	10p	1,085p

In addition, 49,919 Grants were made to employees who are non-PDMRs.

The Grants are subject to the achievement of performance criteria as specified by the Remuneration Committee and are subject to claw back provisions in certain circumstances. The performance conditions require that the Company's adjusted (pre-exceptional items and adjusted for pension interest charges and credits) earnings per share ("Adjusted EPS") for the financial year ending 31 December 2026 reaches the following figures for each level of vesting:

Adjusted EPS for year ending 31 December 2026	% of Grant that Vests
78.9p	25%
87.6p	40%
92.0p	100%

Between these target levels, share options will vest on a straight-line basis and shares will vest, subject to the achievement of these performance conditions, from 22 May 2027.

For further information, please contact:

Churchill China plc	Tel: [phone]
David O'Connor / James Roper / Michael Cunningham
Buchanan	Tel: [phone]
Mark Court / Sophie Willis / Abigail Gilchrist
[e-mail]
Investec	Tel: [phone]
David Flin / Oliver Cardigan / William Brinkley

 

Notification and public disclosure of transactions by Persons Discharging Managerial Responsibilities ("PDMR") and persons closely associated with them ("PCA")

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	Michael Cunningham
2	Reason for notification
a.	Position/Status	Chief Financial Officer
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Churchill China plc
b.	LEI	213800GQ51I4LZQ5AR09
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 10p each ISIN: GB0001961035
b.	Nature of the transaction	Grant of options
c.	Price(s) and volume(s)	Price(s) Volume(s) 10p 20,704
d.	Aggregated information	N/A - Single Transaction
e.	Date of the transaction	24/5/2024
f.	Place of the transaction	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 O'Connor
2	Reason for notification
a.	Position/Status	Chief Executive Officer
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Churchill China plc
b.	LEI	213800GQ51I4LZQ5AR09
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 10p each ISIN: GB0001961035
b.	Nature of the transaction	Grant of Options
c.	Price(s) and volume(s)	Price(s) Volume(s) 10p 32,191
d.	Aggregated information	N/A - Single Transaction
e.	Date of the transaction	24/5/2024
f.	Place of the transaction	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	James Roper
2	Reason for notification
a.	Position/Status	Sales and Marketing Director
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Churchill China plc
b.	LEI	213800GQ51I4LZQ5AR09
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 10p each ISIN: GB0001961035
b.	Nature of the transaction	Grant of Options
c.	Price(s) and volume(s) -    Transaction 1	Price(s) Volume(s) 10p 24,969
d.	Aggregated information	N/A - Single Transaction
e.	Date of the transaction	24/5/2024
f.	Place of the transaction	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	Marc Sinclair
2	Reason for notification
a.	Position/Status	Company Secretary
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Churchill China plc
b.	LEI	213800GQ51I4LZQ5AR09
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 10p each ISIN: GB0001961035
b.	Nature of the transaction	Grant of Options
c.	Price(s) and volume(s) -    Transaction 1	Price(s) Volume(s) 10p 5,862
d.	Aggregated information	N/A - Single Transaction
e.	Date of the transaction	24/5/2024
f.	Place of the transaction	Off market

 

END