Grant of Option and PDMR dealings

Michelmersh Brick Holdings PLC

02 May 2023

 

2 May 2023

Michelmersh Brick Holdings Plc

("MBH", the "Company" or the "Group")

Grant of Option and PDMR dealings

Michelmersh Brick Holdings PLC (AIM: MBH), the specialist brick manufacturer, announces an annual grant under the Company's Long Term Incentive Plan 2022 as announced on 12 October 2022 (the "LTIP") to executive directors. 

This year's grant (the "2023 Grant") will include three-year performance targets linked to the delivery of EPS growth, total shareholder return performance when benchmarked against a UK based industry peer group, and delivery of ESG metrics.  The 2023 Grant will equate to a value of 125% of the basic salary of each executive director.

On 28 April 2023, options over 985,407 shares in aggregate were granted under the 2023 Grant to executive directors as set out below:

Director	Role	Number of options granted
Frank Hanna	Joint Chief Executive Officer	354,463
Peter Sharp	Joint Chief Executive Officer	354,463
Ryan Mahoney	Chief Financial Officer	276,481

The number of shares in respect of the 2023 Grant that may be issued following the three-year performance period shall depend upon the extent to which growth and other performance conditions are achieved over that period.

For further information, please contact:

Michelmersh Brick Holdings Plc Frank Hanna, Joint Chief Executive Officer Ryan Mahoney, Chief Financial Officer	Tel: [phone]
Canaccord Genuity Limited (NOMAD and Joint Broker) Max Hartley Bobbie Hilliam Harry Pardoe	Tel: [phone]
Berenberg (Joint Broker) Richard Bootle Detlir Elizi	Tel: [phone]
Yellow Jersey PR Charles Goodwin Annabelle Wills	Tel: [phone] Tel: [phone]

About Michelmersh Brick Holdings PLC:

Michelmersh Brick Holdings PLC is a business with seven market leading brands: Blockleys, Carlton, FabSpeed, Freshfield Lane, Michelmersh, Floren.be and Hathern Terra Cotta. These divisions operate within a fully integrated business, combining the production of premium, precision-made bricks, pavers, special shaped bricks, bespoke Terra Cotta products and prefabricated brick components. The Group also includes a landfill operator, New Acres Limited, and seeks to develop future landfill and development opportunities on ancillary land assets.

Established in 1997, the Company has grown through acquisition and organic growth into a profitable and asset rich business, producing over 120 million clay bricks and pavers per annum. Michelmersh currently owns most of the UK's premium manufacturing brick brands and is a leading specification brick and clay paving manufacturer.

Michelmersh strives to be a well invested, long term, sustainable, environmentally responsible business. Opportunity, training and security for all employees, whilst meeting the needs of stakeholders are at the forefront of everything we do. We aim to lead the way in producing some of Britain's premium clay products and enhancing our environment by adding value to the architectural landscape for generations to come.

We are Michelmersh Brick Holdings PLC: we are "Britain's Brick Specialist".

Please visit the Group's websites at: www.mbhplc.co.uk and www.bimbricks.com

1	Details of PDMR / person closely associated with them ('PCA')
a)	Full Name		Frank Hanna
2	Reason for the notification
a)	Position / status		Joint CEO
b)	Initial notification / amendment		Initial Notification
3	Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor
a)	Name	Michelmersh Brick Holdings plc
b)	LEI	213800CIFQFPAHIQE695
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 Identification code		Ordinary shares of 20 pence each in the capital of the Company ISIN: GB00B013H060
b)	Nature of the transaction		Grant of Nil-Cost Options under the Long Term Incentive Plan 2022
c)	Price(s) and volume(s)		Price: Nil Volume: 354,463
d)	Aggregated information Aggregated volume and Price		N/A - single transaction
e)	Date of the transaction		28 April 2023
f)	Place of the transaction		Outside a trading venue

1	Details of PDMR / person closely associated with them ('PCA')
a)	Full Name		Peter Sharp
2	Reason for the notification
a)	Position / status		Joint CEO
b)	Initial notification / amendment		Initial Notification
3	Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor
a)	Name	Michelmersh Brick Holdings plc
b)	LEI	213800CIFQFPAHIQE695
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 Identification code		Ordinary shares of 20 pence each in the capital of the Company ISIN: GB00B013H060
b)	Nature of the transaction		Grant of Nil-Cost Options under the Long Term Incentive Plan 2022
c)	Price(s) and volume(s)		Price: Nil Volume: 354,463
d)	Aggregated information Aggregated volume and Price		N/A - single transaction
e)	Date of the transaction		28 April 2023
f)	Place of the transaction		Outside a trading venue

1	Details of PDMR / person closely associated with them ('PCA')
a)	Full Name		Ryan Mahoney
2	Reason for the notification
a)	Position / status		CFO
b)	Initial notification / amendment		Initial Notification
3	Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor
a)	Name	Michelmersh Brick Holdings plc
b)	LEI	213800CIFQFPAHIQE695
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 Identification code		Ordinary shares of 20 pence each in the capital of the Company ISIN: GB00B013H060
b)	Nature of the transaction		Grant of Nil-Cost Options under the Long Term Incentive Plan 2022
c)	Price(s) and volume(s)		Price: Nil Volume: 276,481
d)	Aggregated information Aggregated volume and Price		N/A - single transaction
e)	Date of the transaction		28 April 2023
f)	Place of the transaction		Outside a trading venue

 

END