Board Appointment & Grant of share options

RNS Number : 8742R

Swallowfield PLC

19 June 2018

 

Swallowfield plc

("Swallowfield" or "the Company")

Board Appointment

& Grant of share options

Swallowfield plc, a market leader in the development, formulation, and supply of personal care and beauty products, including its own portfolio of brands refers to its announcement on 27 February 2018 and confirms that Tim Perman will be appointed to the board of Swallowfield as Chief Executive Officer with effect from 1 July 2018. As announced at that time, Tim will replace Chris How who will step down from the board on 1 July 2018.

Pursuant to the rules of the Swallowfield plc 2009 Long Term Incentive Plan ("LTIP"), the Company has granted options to certain directors and employees to subscribe for up to 212,190 ordinary shares of 5p each (the "Options") as follows:

Director/Employee	Number of new Options granted	Total Number of Options now held	% of issued share capital represented by Options now held
Tim Perman	77,160	77,160	0.45%
Jane Fletcher	77,160	99,877	0.58%
Matthew Gazzard	57,870	57,870	0.34%

                                                                 212,190                             234,907                               1.37%        

All of the 212,190 new Options granted under the LTIP have performance conditions attached to them linked to earning per share targets. The award for Jane Fletcher represents a 24-month period and for Matthew Gazzard an 18-month period in the absence of an award being made to those individuals for the trading year 2018. In relation to Tim Perman the award represents a 12-month period. To the extent that the performance conditions are met at the end of the three-year performance cycle, then the Options can be exercised at a price of £0.05 per Option. They are exercisable, to the extent vested and subject to meeting the performance criteria, for a period of 10 years from the date of grant.

Following the grant of the Options the total number of ordinary shares subject to options and which could, in the future, be issued is 535,000.  This represents 3.12% of the current issued share capital of the Company which comprises 17,135,542 Ordinary Shares.

For further information, please contact:
Swallowfield plc
Chris How	Chief Executive Officer	01823 662 241
Matthew Gazzard	Group Finance Director	01823 662 241
Mark Taylor/ Jen Boorer	N+1 Singer	0207 496 3000
Josh Royston / Hilary Buchanan	Alma PR	07780 901979

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Tim Perman
2	Reason for the notification
a)	Position/status	CEO Designate
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Swallowfield plc
b)	LEI	213800BSD8D9QEUKCE17
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 5 pence each GB0008667304
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s)  Volume(s)  Exercise price of £0.05      per Option  77,160
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	18th June 2018
f)	Place of the transaction	London Stock Exchange

c	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Jane Fletcher
2	Reason for the notification
a)	Position/status	Group Sales And Marketing Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Swallowfield plc
b)	LEI	213800BSD8D9QEUKCE17
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 5 pence each GB0008667304
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s)  Volume(s)  Exercise price of £0.05 per Option  77,160
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	18th June 2018
f)	Place of the transaction	London Stock Exchange

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Matthew Gazzard
2	Reason for the notification
a)	Position/status	Group Finance Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Swallowfield plc
b)	LEI	213800BSD8D9QEUKCE17
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 5 pence each GB0008667304
b)	Nature of the transaction	Grant of options
c)	Price(s) and volume(s)	Price(s) Volume(s)  Exercise price of £0.05 per Option  57,870
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	18th June 2018
f)	Place of the transaction	London Stock Exchange

 

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