Performance Share Plan ("PSP") 2022

RNS Number : 1130N

H&T Group PLC

30 May 2022

 

30th May 2022

H&T Group plc

("H&T", the "Company" or the "Group")

(AIM: HAT)

Performance Share Plan ("PSP") 2022

H&T Group plc announces the adoption of its 2022 Performance Share Plan ("PSP") which has been approved by the Remuneration Committee. Further details on the scheme, which will apply to senior management and Executive Directors of the Company, are set out below.

In accordance with the rules of the PSP, eligible employees will be entitled to acquire a maximum number of Ordinary Shares ('Award Shares') on or after 31 December 2024 at nil price, subject to the Company achieving the minimum reported performance criteria.

Summary details set out below:

2022 Grant	The grants of shares are a proportion of salary as follows: · Executive Directors -100% of base salary · Christopher Gillespie, CEO: 112,657 · Diane Giddy, CFO: 81,767 · Senior management - 35% to 75% of base salary
Performance period	The performance period for the 2022 grant is 1 January 2022 to 31 December 2024 (3 years).
Vesting	The scheme is planned to vest at the end of 2024.
Performance conditions	The scheme is split equally based on targets for total shareholder return (TSR) and growth in basic earnings per share (EPS) measured over the three-year performance period.  The minimum, target and maximum thresholds, with reference to growth over 2021 or the share price as at 31 December 2021, are: Measure Minimum Target Maximum TSR 65% 76% 91% EPS growth 117% 137% 164% For performance below the minimum no award will vest, at the minimum 30% (2021: 20%) of the award will vest, at the target 50% of the award will vest, and at or above the maximum 100% (2021: 100%) of the award will vest.  A sliding scale of vesting, on a straight-line basis applies between the minimum, target and maximum TSR and EPS targets.
Share retention period	Executive Directors are subject to a two-year share retention period for shares awarded under the scheme.
Further conditions	Award Shares will be released on 31 December 2024 subject to continued employment and the satisfaction of certain specific performance conditions. The awards are further subject to claw back and malus provisions.

H&T Group plc

Tel: [phone]

Chris Gillespie, Chief Executive

Shore Capital (Nominated Adviser and Broker)

Tel: [phone]

Stephane Auton/Iain Sexton (Corporate Advisory)

Guy Wiehahn/ Chloë Booker-Triolo (Corporate Broking)

Haggie Partners (Public Relations)

Tel: [phone]

Damian Beeley

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Chris Gillespie
2	Reason for the 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	H&T Group plc
b)	LEI	2138006N2X1XSBSDSU74
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	H&T Group plc ordinary shares of 5 pence GB00B12RQD06
b)	Nature of the transaction	Award of Options under Performance Share Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 112,657
d)	Aggregated information - Aggregated volume - Price	N/A (single transaction)
e)	Date of the transaction	N/A
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Diane Giddy
2	Reason for the 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	H&T Group plc
b)	LEI	2138006N2X1XSBSDSU74
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	H&T Group plc ordinary shares of 5 pence GB00B12RQD06
b)	Nature of the transaction	Award of Options under Performance Share Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 81,767
d)	Aggregated information - Aggregated volume - Price	N/A (single transaction)
e)	Date of the transaction	N/A
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

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