Director/PDMR Shareholding

RNS Number : 2030B

Cranswick PLC

05 June 2019

 

Director/PDMR Shareholding

Cranswick plc ("the Company")

The Company has been notified that the following award of LTIP nil-cost options has been made, pursuant to the Cranswick plc Long Term Incentive Plan (the "Scheme"), to certain Directors/Persons Discharging Managerial Responsibility ("PDMR") over ordinary shares of 10 pence each in the Company ("Ordinary Shares"), as follows:

Name	No. of Ordinary Shares subject to Option
Adam Couch	48,100
Mark Bottomley	31,800
Jim Brisby	31,800
Chris Aldersley	26,300

The nil-cost options were granted on 1 June 2019 in accordance with the Scheme and are based on a share price of 2714.67 pence per Ordinary Share, being the average quoted market price of the Company's shares on the three dealing days prior to the date of grant.

Each person has also been granted a tax qualifying option over 1,104 Ordinary Shares at an exercise price of 2714.67 pence per Ordinary Share as part of their award.  These tax qualifying options are linked to the LTIP nil-cost options such that, at the time of exercise, to the extent that there is a gain in the tax qualifying option, the LTIP nil-cost option will be forfeited to the value of that gain.

Vesting of the LTIP nil-cost options and tax qualifying options is subject to the achievement of the performance criteria based on growth in EPS (as regards 50% of the awards) and relative Total Shareholder Return (as regards 50% of each award).  The targets applying to each element are as follows. 

		Target
EPS	Threshold	Average annual % growth in RPI + 3%
	Maximum	Average annual % growth in RPI + 9%
TSR	Threshold	Median
	Maximum	Upper decile

Enquiries:

Steven Glover, Company Secretary tel: [phone]

 

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