Grant of Options

Property Franchise Group PLC (The)
09 August 2024
 

9 August 2024

THE PROPERTY FRANCHISE GROUP PLC

 

(the "Company" or the "Group")

 

Grant of Options

 

The Property Franchise Group PLC, the UK's largest property franchisor, today announces that it has granted nominal cost options over 1,195,000 ordinary shares in the Company to certain executive directors and members of its senior management team under the TPFG Share Option Plan.

 

These awards recognise each of their roles and responsibilities in developing and implementing the Company's strategic plans and are designed to continue to incentivise them appropriately.

 

The awards will be subject to two performance conditions; total shareholder return ("TSR") and adjusted basic earnings per share adjusted for exceptional income/costs, amortisation arising on consolidation and share-based payment charges ("adjusted EPS") over the 3 years to 31 December 2026. Each performance condition will apply to 50% of the awards being made. All participants will be subject to a lock-in of 12 months following vesting. 

 

In respect of the TSR, the award will be subject to absolute TSR growth of 45% to achieve threshold vesting (at which point 25% of this portion of the award will vest), which corresponds to 13.2% compound annual growth rate ("CAGR"), rising to full vesting at 85% growth over the period which corresponds to 22.8% CAGR.

 

In respect of adjusted EPS, the award will be subject to adjusted EPS growth of 40% over the period to achieve threshold vesting (25% vesting), which corresponds to 11.9% CAGR, rising to full vesting at 60% growth over the period, which corresponds to 17.0% CAGR.

 

Straight-line vesting applies between the thresholds.

 

The maximum awards for directors are stated below:

 

Name

Position

Number of shares subject to awards

Gareth Samples

Chief Executive Officer

500,000

Michelle Brook

Executive Director

100,000

 

In addition, the Company has granted CSOP options over a total of 220,000 ordinary shares to senior management and further key employees under the Company's CSOP scheme.

 

Immediately prior to these awards the Company's issued share capital was 63,752,008 ordinary shares and it had outstanding awards granted under prior incentive schemes of 676,952 ordinary shares.

 

Further detail is provided below in accordance with Article 19.3 of the EU Market Abuse Regulation.

 

 

1

Details of the person discharging managerial responsibilities/person closely associated.

a)

Name:




Gareth Samples



Michelle Brook

2

Reason for notification.







a)

Position/Status:



Chief Executive


Executive Director

b)

Initial Notification/Amendment:


Initial Notification


Initial Notification

3

Details of the issuer, emission allowance market participation, auction platform,


auctioneer or auction monitor.







a)

Name:




The Property Franchise Group PLC


The Property Franchise Group PLC

b)

LEI:




2138008J5PTJ8C77I535

 



2138008J5PTJ8C77I535

 


4

Details of 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


Ordinary Shares of






1p each


1peach


Identification code:



ISIN: GB00BH0WFH67


ISIN: GB00BH0WFH67

b)

Nature of transaction:



Grant of nil cost options


Grant of nil cost options






over Company's shares


over Company's shares

c)

Price(s) and volume(s)


Price(s)

Volume(s)


Price(s)

Volume(s)






1p each

500,000


1p each

100,000

d)

Aggregated volume:



n/a



n/a



Price:




n/a



n/a


e)

Date of Transaction:



9 August 2024


9 August 2024

f)

Place of the Transaction


Outside a trading venue


Outside a trading venue

 

 

For further information, please contact:

 

 

The Property Franchise Group PLC  

Gareth Samples, Chief Executive Officer

David Raggett, Chief Financial Officer

01202 405 549

 

 

 

 

Canaccord Genuity Limited (Nominated Adviser and Joint Broker)

Max Hartley

Harry Rees

 020 7523 8000

 

 





Singer Capital Markets (Joint Broker)

Rick Thompson

James Fischer

 020 7496 3000

 

 

 

 

Alma Strategic Communications 

Justine James

Joe Pederzolli

Kinvara Verdon

 

 

 020 3405 0209

propertyfranchise@almastrategic.com

 





 


About The Property Franchise Group PLC:

 

The Property Franchise Group PLC (AIM: TPFG) is the UK's largest multi-brand property franchisor, with a network of over 1,900 outlets delivering high quality services to residential clients, combined with an established Financial Services business.

 

The Company was founded in 1986 and has since strategically grown to a diverse portfolio of 18 brands operating throughout the UK, comprising longstanding high-street focused brands and two hybrid brands. The Property Franchise Group is also a member of two leading mortgage networks through its mortgage brokers, Brook Financial (MAB) and The Mortgage Genie (Primis).

 

The Property Franchise Group PLC's brands are: Belvoir, CJ Hole, Country Properties, Ellis & Co, EweMove, Fine & Country, Hunters, Lovelle, Martin & Co, Mr and Mrs Clarke, Mullucks, Newton Fallowell, Nicholas Humphreys, Northwood, Parkers, The Guild of Property Professionals and Whitegates and Mortgage Genie.

 

Headquartered in Bournemouth, the Company was listed on AIM on the London Stock Exchange in 2013 and entered the AIM 100 in July 2024.

 

More information is available at www.propertyfranchise.co.uk

 

 

 

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