Grant of options

RNS Number : 9116N

Michelmersh Brick Holdings PLC

21 May 2015

 

21 May 2015

Michelmersh Brick Holdings PLC

("MBH" or the "Group")

Grant of Options

The Company announces that on 20 May 2015, the following options were granted over ordinary shares in the Company of 20 pence nominal value ("Options") to Executive Directors under the Michelmersh Brick Holdings Plc Non-qualifying Share Option Plan ("LTIP").

Director	Position	Number of Options granted	Exercise price	Total number of Options held following grant
Frank Hanna	Commercial Director	350,000	nil	391,000
Stephen Morgan	Finance Director	300,000	nil	341,000
Peter Sharp	Group Operations Director	350,000	nil	454,157*

 *Following the subsequent grant of Options, above, Mr Sharp now owns 454,157 options, with 63,157 of these Options held under the Company Share Save Scheme.

The new Options were granted to the three Executive Directors under an unapproved Long Term Incentive Plan, and accumulate in each of the financial years 2015 to 2019 provided that performance targets are met. The options may be exercised after release of the 2019 Annual Report, expected in March 2020.

Enquiries:

Michelmersh Brick Holdings Martin Warner, CEO Stephen Morgan, Finance Director	01825 430 413
Cenkos Securities plc Bobbie Hilliam (NOMAD) Harry Pardoe Oliver Baxendale (Sales)	020 7397 8900
Yellow Jersey PR Kelsey Traynor Dominic Barretto	07799 003 220 07768 537 739

About Michelmersh Brick Holdings PLC:

Michelmersh Brick Holdings PLC is a business with five leading market brands: Blockleys, Charnwood, Freshfield Lane, Michelmersh and Hathern Terra Cotta. These divisions operate within a fully integrated business combining the manufacture of clay bricks, tiles and pavers. 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 approximately 70 million clay bricks, tiles and pavers per annum. MBH PLC currently owns most of the UK's premium manufacturing brands and is a leading specification brick and clay paving manufacturer.

Recently Michelmersh's products have been successfully used in prestigious projects such as the Nottingham Railway Station refurbishment, Manchester's Salford Quays regeneration project and the Lend Lease, Elephant and Castle redevelopment in London. We are also suppliers to high value housing developers such as Berkeley and St James Homes, delivering to key city regeneration projects such as Battersea Reach.

Please visit the Group's website at: www.mbhplc.co.uk 

 

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