Award of Options and Issue of Equity

RNS Number : 1097H

NWF Group PLC

30 July 2019

 

NWF Group plc

For Release 30^th July 2019

NWF Group plc ('NWF', 'the Group' or 'the Company')                                                                    

Award of Options and Issue of Equity under Company Performance Share Plan

NWF Group plc, the Fuels, Food and Feed specialist distribution business, announces the following awards have been approved under the terms of the established NWF Company Performance Share Plan (the "Plan").

Richard Whiting, Chief Executive of NWF, will receive an award of a conditional right over a maximum of 179,066 ordinary shares of 25 pence each of the Company ("Shares") at a price of 166.00 pence per Share, being the mid-market price at the close of business on 29 July 2019. This award is subject to the following performance targets:

1.   if the reported headline basic earnings per share for the three financial years ending 31 May 2022 increases by RPI plus 2% per annum then 53,720 Shares will be issued under the Plan; and

2.   the maximum of 179,066 Shares will be issued if the reported headline basic earnings per share increases by RPI plus 8% per annum for the three financial years ending 31 May 2022.

Following the award, Richard Whiting will be interested in 517,765 conditional awards over Shares.

Chris Belsham, Group Finance Director of NWF, will receive an award of a conditional right over a maximum of 107,590 ordinary shares of 25 pence each of the Company ("Shares") at a price of 166.00 pence per Share, being the mid-market price at the close of business on 29 July 2019. This award is subject to the following performance targets:

1.   if the reported headline basic earnings per share for the three financial years ending 31 May 2022 increases by RPI plus 2% per annum then 32,277 Shares will be issued under the Plan; and

2.   the maximum of 107,590 Shares will be issued if the reported headline basic earnings per share increases by RPI plus 8% per annum for the three financial years ending 31 May 2022.

Following the award, Chris Belsham will be interested in 311,072 conditional awards over Shares.

Rob Andrew, Group Company Secretary of NWF, will receive an award of a conditional right over a maximum of 80,723 Shares at a price of 166.00 pence per Share, being the mid-market price at the close of business on 29 July 2019. This award is subject to the following performance targets:

1.   if the reported headline basic earnings per share for the three financial years ending 31 May 2022 increases by RPI plus 2% per annum then 24,217 Shares will be issued under the Plan; and

2.   the maximum of 80,723 Shares will be issued if the reported headline basic earnings per share increases by RPI plus 8% per annum for the three financial years ending 31 May 2022.

Following the award, Rob Andrew will be interested in 233,367 conditional awards over Shares.

The Plan was established for the purpose of incentivising and retaining the Company's eligible executive management. Shares awarded under the Plan are subject to a performance criteria that requires NWF to meet a minimum reported basic earnings per share target over a three year period. The Remuneration Committee has responsibility for determining the award of Shares and the performance targets under the Plan. 

 

Rob Andrew	Reg Hoare / Patrick Hanrahan	Mike Bell / Ed Allsopp
Group Company Secretary	MHP Communications	Peel Hunt LLP
NWF Group plc	Tel: [phone]	(Nominated Adviser)
Tel: [phone]		Tel: [phone]

 

END

 

 

MSCRLMLTMBATBBL