Award of Options

RNS Number : 6059P

Wynnstay Group PLC

10 February 2023

 

AIM: WYN

WYNNSTAY GROUP PLC

("Wynnstay" or "the Company")

Award of Options under the Company's Performance Share 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 the established Wynnstay Performance Share Plan (the "Plan").

The Options offer the recipients the entitlement to acquire a maximum number of Ordinary Shares ("Award Shares") on or after 31 October 2025 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") is 12.6% for the financial year ending 31 October 2025. 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 Award Shares over which Options have been granted amounts to 139,311, and included in this grant were Options made to the following Executive Directors of the Company:

Name	Title	Maximum number of Award Shares
Mr G.W. Davies	Chief Executive Officer	30,634
Mr B.P. Roberts	Finance Director	20,519

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

Enquiries:

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

 

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