Award of Options

RNS Number : 7172W

Wynnstay Group PLC

27 April 2021

 

27 April 2021

AIM: WYN

WYNNSTAY GROUP PLC

("Wynnstay" or "the Company") 

Award of Options under the Company's Performance Share Plan

and Share Option Plan

Wynnstay, the agricultural supplies group, announces  the award of options ("Options") over ordinary shares of 25p each in the Company ("Ordinary Shares") approved under the terms of its established plans, the Wynnstay Performance Share Plan ("PSP") and the Wynnstay Group Approved Company Share Option Plan ("CSOP").

The PSP Options offer the recipients the entitlement to acquire a maximum number of Ordinary Shares ("Award Shares") on or after 31 October 2023 at nil cost, subject to the Company achieving the following minimum reported performance criteria:

1. 75% of the Award Shares will vest if the Company's earnings per share ("EPS") grows at an annual rate exceeding the rate of growth of the Retail Price Index ("RPI") plus 8%. Where this growth is not met, provided EPS grows at an annual rate of at least RPI plus 1%, 30% of the Award Shares tested under the EPS target will vest. Between these criteria, the Award Shares will vest on a straight-line basis. 

2. 25% of the Award Shares will vest if the Company's return on capital employed ("ROCE") increases to at least 12.6% for the financial year ending 31 October 2023. Where this target is not met, provided a minimum ROCE employed of 10% is met, the Award Shares will vest between these two criteria on a straight-line basis. 

The total number of PSP Award Shares over which Options have been granted on 23 April 2021 amounts to 84,728, and included in this grant were Options made to the following executive directors and Company Secretary:

Name	Title	Maximum number of Award Shares
Mr G.W. Davies	Chief Executive Officer	17,819
Mr B.P. Roberts	Finance Director	14,256
Mrs C.A. Williams	Company Secretary	3,676

In addition, 186,000 Share Options were granted under the CSOP to other employees of the Group on 23 April 2021 at an option price of £4.625.

The Remuneration Committee has responsibility for determining the award of Options and the performance targets under both Plans. 

Enquiries:

Wynnstay Group plc	Gareth Davies, Chief Executive Paul Roberts, Finance Director	T: 1691 827 142
KTZ Communications	Katie Tzouliadis / Dan Mahoney	T: 020 3178 6378
Shore Capital (Nomad and Broker)	Stephane Auton / Patrick Castle / John More	T: 020 7408 4090

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gareth Davies
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Wynnstay Group plc
b)	LEI	213800TOLA726AITR960
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 25 pence each in the Company ("Ordinary Shares") GB0034212331
b)	Nature of the transaction	Award of Options under the Company's Performance Share Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 17,819 Ordinary  Shares
d)	Aggregated information - Aggregated volume - Price	N/A single transaction
e)	Date of the transaction	23/4/2021
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Bryan Paul Roberts
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Wynnstay Group plc
b)	LEI	213800TOLA726AITR960
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 25 pence each in the Company ("Ordinary Shares") GB0034212331
b)	Nature of the transaction	Award of Options under the Company's Performance Share Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 14,256 Ordinary  Shares
d)	Aggregated information - Aggregated volume - Price	N/A single transaction
e)	Date of the transaction	23/04/2021
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Claire Alexander Williams
2	Reason for the notification
a)	Position/status	Company Secretary
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Wynnstay Group plc
b)	LEI	213800TOLA726AITR960
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 25 pence each in the Company ("Ordinary Shares") GB0034212331
b)	Nature of the transaction	Award of Options under the Company's Performance Share Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 3,676 Ordinary  Shares
d)	Aggregated information - Aggregated volume - Price	N/A single transaction
e)	Date of the transaction	23/04/2021
f)	Place of the transaction	Outside a trading venue

 

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