Director/PDMR Shareholding

RNS Number : 3739M

Hill & Smith Hldgs PLC

20 September 2021

 

Hill & Smith Holdings PLC ('Hill & Smith' or 'the Company')
Director and PDMR Shareholdings

20 September 2021

Hill & Smith 2014 Long-Term Incentive Plan

LTIP Award - 16 September 2021

On 16 September 2021 the Remuneration Committee of the Company approved the grant of awards, in the form of nil-cost options over ordinary shares in the Company in accordance with the provisions of the Hill & Smith Holdings 2014 Long Term Incentive Plan (the "LTIP"). 

Mr P Simmons has been granted a nil-cost option over 58,762 ordinary shares and Mrs H K Nichols has been granted a nil-cost option over 31,075 ordinary shares.

Under the rules of the LTIP and the Company's Remuneration Policy, the vesting of the Awards is subject to the achievement of set performance conditions. In the Directors' Remuneration Report for the year ending 31 December 2020, the Company noted that it would confirm these when the awards were granted. As with previous years, the performance measures are based 50% upon the Company's underlying earnings per share and 50% upon its Total Shareholder Return ('TSR'). The relative TSR measure (including the comparator group) remains the same as previously. Having regard to the impact of the Covid-19 pandemic, the Remuneration Committee has concluded that it would be better to set the EPS targets as absolute rather than growth measures. The performance measures and targets are summarised below.

Vesting amount	Underlying Earnings per Share for the year ending 31 December 2023 (50% of the Awards)	TSR performance over the three years ending 31 December 2023 (50% of the Awards)**
0% vesting	Less than £0.82	Below median
Threshold: 20% vesting	£0.82	Median
100% vesting*	102p	Upper quartile

*Straight line vesting applies between threshold and maximum vesting

** compared to the FTSE 250 excluding investment trusts and financial services companies

The Awards will (subject to the achievement of the performance conditions) vest following the end of the performance period but may not ordinarily be exercised until the end of a further two-year holding period.

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	Mr P Simmons
2.	Reason for the notification
(a)	Position/status	Chief Executive Officer
(b)	Initial notification/ Amendment	Initial notification
3.	Details of the issuer
(a)	Name	Hill & Smith Holdings PLC
(b)	LEI	2138003A3ISGQZBOWI83
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	Ordinary shares of £0.25 each
(b)	Identification code of the Financial Instrument	GB0004270301
(c)	Nature of the transaction	Grant of Nil-Cost Option as part of 2021 LTIP Award
(d)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	58,762 shares
(e)	Aggregated information
	- Aggregated volume	58,762
	- Price	Nil
(f)	Date of the transaction	16 September 2021
(g)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	Mrs H K Nichols
2.	Reason for the notification
(a)	Position/status	Chief Financial Officer
(b)	Initial notification/ Amendment	Initial notification
3.	Details of the issuer
(a)	Name	Hill & Smith Holdings PLC
(b)	LEI	2138003A3ISGQZBOWI83
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	Ordinary shares of £0.25 each
(b)	Identification code of the Financial Instrument	GB0004270301
(c)	Nature of the transaction	Grant of Nil-Cost Option as part of 2021 LTIP Award
(d)	Price(s) and volume(s)	Price(s)	Volume(s)
		Nil	31,075 shares
(e)	Aggregated information
	- Aggregated volume	31,075 shares
	- Price	Nil Cost
(f)	Date of the transaction	16 September 2021
(g)	Place of the transaction	Outside a trading venue

Enquiries:

 Alex Henderson

Company Secretary

Tel: [phone]

 

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