Grant of incentive awards

RNS Number : 3942Q

HSS Hire Group PLC

25 February 2021

 

HSS Hire Group plc
Grant of incentive awards

On 25 February 2021, HSS Hire Group plc (the "Company") granted awards in accordance with the terms of its new Value Creation Plan (the "VCP") to  certain Executives, as detailed below (the "Executives").

Under the VCP the Executives will share in total 20% of the increase in the value of the Company up to the time of a change of control (or other relevant event) (the "VCP Pool"). Each Executive will be entitled to one third of the VCP Pool. The VCP has been designed by the Company's Remuneration Committee in consultation with the Company's major shareholders.

The increase in the value of the Company will be calculated by reference to the increase in its market capitalisation from an opening value of £104,471,648 (based on a share price of £0.15) to the closing market capitalisation on an exit event. Appropriate adjustments shall be made in respect of any capital raised from or returned to shareholders over the period. Awards under the VCP will be settled in cash other than in certain circumstances where an award which vests early to a "good leaver" may be settled in shares.

The Executives will not participate in future Company share incentive schemes.  

This announcement, including the notifications below, has been made in accordance with the requirements of the Market Abuse Regulation.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Steve Ashmore
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer
a)	Name	HSS Hire Group plc
b)	LEI code	2138004DGL1J6VQO6S92
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	A right under the HSS Hire VCP to receive a payment by reference to the growth in value of HSS Hire Group plc
b)	Identification code	N/A
c)	Nature of the transaction	Grant of award
d)	Price(s) and volume(s)	Price Volume N/A N/A
e)	Aggregated information - Aggregated volume - Price	N/A
f)	Date of the transaction	25 February 2021
g)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Paul Quested
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer
a)	Name	HSS Hire Group plc
b)	LEI code	2138004DGL1J6VQO6S92
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	A right under the HSS Hire VCP to receive a payment by reference to the growth in value of HSS Hire Group plc
b)	Identification code	N/A
c)	Nature of the transaction	Grant of award
d)	Price(s) and volume(s)	Price Volume N/A N/A
e)	Aggregated information - Aggregated volume - Price	N/A
f)	Date of the transaction	25 February 2021
g)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Tom Shorten
2	Reason for the notification
a)	Position/status	Chief Commercial Officer
b)	Initial notification/ Amendment	Initial notification
3	Details of the issuer
a)	Name	HSS Hire Group plc
b)	LEI code	2138004DGL1J6VQO6S92
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	A right under the HSS Hire VCP to receive a payment by reference to the growth in value of HSS Hire Group plc
b)	Identification code	N/A
c)	Nature of the transaction	Grant of award
d)	Price(s) and volume(s)	Price Volume N/A N/A
e)	Aggregated information - Aggregated volume - Price	N/A
f)	Date of the transaction	25 February 2021
g)	Place of the transaction	Outside a trading venue

For further information, please contact:

HSS Hire Group plc	Tel: [phone]
Investor Relations Manager	Please email: [e-mail]
Numis Securities Stuart Skinner George Price	Tel: [phone]
Teneo	Tel: [phone]
Matt Thomlinson
Tom Davies

 

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