Grant of Awards Under Performance Share Plan

RNS Number : 8593V
Luceco PLC
11 April 2023
 

LUCECO PLC (THE "COMPANY")

GRANT OF AWARDS UNDER PERFORMANCE SHARE PLAN

 

The Company announces that awards have been granted to the following Persons Discharging Managerial Responsibility ("PDMRs") under the Luceco 2017 Performance Share Plan ("PSP"), which was approved by shareholders at the Company's AGM held on 25 May 2017.

 

Each of the following PDMRs has, on 6 April 2023 , been granted awards in the form of nil-cost options over the number of ordinary shares of 0.05 pence in the Company under the terms of the PSP as set out below.  John Hornby's award is conditional upon the grant of a Rule 9 waiver resolution being passed by shareholders at the Company's 2023 Annual General Meeting.

 

PDMR

Role

Number of shares subject to award

John Hornby

Chief Executive Officer

492,956

Will Hoy

Chief Financial Officer

350,561

James Hall

Corporate Development Director 

81,767

Wayne Hill

Managing Director - Europe

98,620

David Nix

Director of Group Finance

83,067

 

In addition each PDMR has been awarded a linked tax qualifying option over 48,000 shares at an exercise price of £1.25. On exercise the number of shares under the nil-cost option will be reduced proportionally to take account of any gain on the exercise of the tax qualifying option such that the PDMR will not receive a greater number of shares than is subject to the nil-cost option.

 

The awards will vest subject to continued employment and the satisfaction of performance conditions measuring the Company's earnings per share and total shareholder return performance. The extent to which awards will vest will depend on the extent to which the performance conditions are satisfied over the performance period, which runs from 1 January 2023 to 31 December 2025 for the earnings per share performance conditions and for three years from the date of grant for the total shareholder return performance condition. No consideration was paid for any of the awards.

 

This notification is made in accordance with the requirements of the UK Market Abuse Regulation.

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

 John Hornby

2

Reason for the notification

a)

Position/status

 PDMR

 

 

b)

Initial notification/Amendment

 Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

 Luceco PLC

b)

LEI

213800BBFZK4W4P98U76

 

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 £0.0005 each

 ISIN: GB00BZC0LP49

b)

Nature of transaction

Grant of awards in the form of nil-cost options over ordinary shares of 0.05 pence in the Company

c)

Price(s) and volume(s)

Price(s)

Volume(s)



 Nil

 

 492,956

d)

Aggregated information

-  Aggregated volume

-  Price

 

 N/A (Single transaction)

e)

Date of the transaction

6 April 2023

f)

Place of the transaction

Outside a trading venue (XOFF)


1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

 Will Hoy

 

2

Reason for the notification

a)

Position/status

 PDMR

 

 

b)

Initial notification/Amendment

 Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

 Luceco PLC

b)

LEI

213800BBFZK4W4P98U76

 

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 £0.0005 each

 ISIN: GB00BZC0LP49

b)

Nature of transaction

Grant of awards in the form of nil-cost options over ordinary shares of 0.05 pence in the Company

c)

Price(s) and volume(s)

Price(s)

Volume(s)



 Nil

 

 350,561

 

d)

Aggregated information

-  Aggregated volume

-  Price

 

 N/A (Single transaction)

e)

Date of the transaction

6 April 2023

f)

Place of the transaction

Outside a trading venue (XOFF)

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

 James Hall

 

 

2

Reason for the notification

a)

Position/status

 PDMR

 

 

b)

Initial notification/Amendment

 Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

 Luceco PLC

b)

LEI

213800BBFZK4W4P98U76

 

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 £0.0005 each

 ISIN: GB00BZC0LP49

b)

Nature of transaction

Grant of awards in the form of nil-cost options over ordinary shares of 0.05 pence in the Company

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

6 April 2023

f)

Place of the transaction

Outside a trading venue (XOFF)

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

 Wayne Hill

 

 

2

Reason for the notification

a)

Position/status

 PDMR

 

 

b)

Initial notification/Amendment

 Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

 Luceco PLC

b)

LEI

213800BBFZK4W4P98U76

 

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 £0.0005 each

 ISIN: GB00BZC0LP49

b)

Nature of transaction

Grant of awards in the form of nil-cost options over ordinary shares of 0.05 pence in the Company

 

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)



 Nil

 

  98,620

d)

Aggregated information

-  Aggregated volume

-  Price

 

 N/A (Single transaction)

e)

Date of the transaction

6 April 2023

f)

Place of the transaction

Outside a trading venue (XOFF)

 

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

 David Nix

 

 

2

Reason for the notification

a)

Position/status

 PDMR

 

 

b)

Initial notification/Amendment

 Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

 Luceco PLC

b)

LEI

213800BBFZK4W4P98U76

 

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 £0.0005 each

 ISIN: GB00BZC0LP49

b)

Nature of transaction

Grant of awards in the form of nil-cost options over ordinary shares of 0.05 pence in the Company

 

c)

Price(s) and volume(s)

Price(s)

Volume(s)



 Nil

 

  83,067

d)

Aggregated information

-  Aggregated volume

-  Price

 

 N/A (Single transaction)

e)

Date of the transaction

6 April 2023

f)

Place of the transaction

Outside a trading venue (XOFF)

 

ENDS

 

For further information contact Will Hoy, Chief Financial Officer 01952 238100

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DSHFLFEVSTILLIV

Companies

Luceco (LUCE)
UK 100