Director/PDMR Shareholding

RNS Number : 9018R

Cranswick PLC

02 July 2020

 

Director/PDMR Shareholding

Cranswick plc ("the Company")

The Company has been notified that the following award of LTIP nil-cost options has been made, pursuant to the Cranswick plc Long Term Incentive Plan (the "Scheme"), to certain Directors/Persons Discharging Managerial Responsibility ("PDMR") over ordinary shares of 10 pence each in the Company ("Ordinary Shares"), as follows:

Name	No. of Ordinary Shares subject to Option
Adam Couch	37,700
Mark Bottomley	24,900
Jim Brisby	24,900
Chris Aldersley	22,450

The nil-cost options were granted on 1 July 2020 in accordance with the Scheme and are based on a share price of 3562.67 pence per Ordinary Share, being the average quoted market price of the Company's shares on the three dealing days prior to the date of grant.

Vesting of the options is subject to the achievement of performance criteria based on growth in EPS (as regards 50% of the awards) and relative Total Shareholder Return (as regards 50% of each award).  The targets applying to each element are as follows. 

		Target
EPS	Threshold	Average annual % growth in RPI + 3%
	Maximum	Average annual % growth in RPI + 9%
TSR	Threshold	Median
	Maximum	Upper decile

Tax qualifying options over 1,104 shares granted to each of the individuals named above on 1 June 2019 have been cancelled due to each individual already holding tax qualifying options as part of the August 2018 LTIP. No further tax qualifying options have been awarded in connection with the above award .

Enquiries:

Steven Glover, Company Secretary tel: [phone]

 

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