Award of Options

RNS Number : 3265H

NWF Group PLC

03 August 2021

 

NWF Group plc

For Release 3rd August 2021

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

Award of Options under Company Performance Share Plan

NWF Group plc, the specialist distributor of fuel, food and feed across the UK, 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 142,512   ordinary shares of 25 pence each of the Company ("Shares") at a price of 217   pence per Share, being the mid-market price at the close of business on 2 August 2021. 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 2024 increases by RPI plus 2% per annum then 42,754   Shares will be issued under the Plan; and

2.  the maximum of 142,512   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 2024

Following the award, Richard Whiting will be interested in 616,340 conditional awards over Shares.

Chris Belsham, Group Finance Director of NWF, will receive an award of a conditional right over a maximum of 85,714   ordinary shares of 25 pence each of the Company ("Shares") at a price of 217 pence per Share, being the mid-market price at the close of business on 2 August 2021. 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 2024 increases by RPI plus 2% per annum then 25,714   Shares will be issued under the Plan; and

2.  the maximum of 85,714   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 2024.

Following the award, Chris Belsham will be interested in 370,434 conditional awards over Shares.

Rob Andrew, Group Company Secretary of NWF, will receive an award of a conditional right over a maximum of 64,286   Shares at a price of 217 pence per Share, being the mid-market price at the close of business on 2 August 2021. 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 2024 increases by RPI plus 2% per annum then 19,286 Shares will be issued under the Plan; and

2.  the maximum of 64,286 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 2024.

Following the award, Rob Andrew will be interested in 277,919 conditional awards over Shares.

Andrew Downie, Managing Director of NWF Agriculture , will receive an award of a conditional right over a maximum of 61,175   ordinary shares of 25 pence each of the Company ("Shares") at a price of 217   pence per Share, being the mid-market price at the close of business on 2 August 2021. 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 2024 increases by RPI plus 2% per annum then 18,353   Shares will be issued under the Plan; and

2.  the maximum of 61,175 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 2024.

Following the award, Andrew Downie will be interested in 268,831 conditional awards over Shares.

Richard Huxley, Managing Director of NWF Fuels , will receive an award of a conditional right over a maximum of 66,359 ordinary shares of 25 pence each of the Company ("Shares") at a price of 217   pence per Share, being the mid-market price at the close of business on 2 August 2021. 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 2024 increases by RPI plus 2% per annum then 19,908   Shares will be issued under the Plan; and

2.  the maximum of 66,359   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 2024.

Following the award, Richard Huxley will be interested in 286,943 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/James Bavister	Mike Bell/Ed Allsopp
Group Company Secretary	MHP Communications	Peel Hunt LLP
NWF Group plc	Tel: [phone]	(Nominated Adviser)
Tel: [phone]		Tel: [phone]

The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail

1.	De t a il softhepersondischargingmanagerialresponsibilities/personcloselyassociated
a.	Na m e	Richard Whiting
2.	Reaso nforthe notification
a.	Po siti on /st a t us	Chief Executive
b.	I n i t ia lnotification / A m end m en t	I n i t ia l
3.	De t a il softheissuer,emissionallowancemarketparticipant,auctionplatform,auctioneeror auctionmonitor
a.	Na m e	N WFGroupplc
b.	LE I	21 3 8 0 0AR R ZN N 1 WVZ9M70
4.	De t a il softhetransaction(s):sectiontoberepeatedfor(i)eachtypeofinstrument;(ii)eachtypeof transaction;(iii) eachdate;and(iv) eachplace wheretransactionshave beenconducted
a.	De scri p ti o nofthe Financialinstrument,type ofinstrument I den t ific a ti o ncode	O r d i na r ysharesof25pintheCompany GB00 065 23 608
b.	Na t u r e   of   the transaction	Award of options under the Company's Share Option Plan
c.	P ric e ( s )   and volume(s)
			P ric e ( s )	Vo l u m e ( s )
			0 p	142,512
d.	Agg re ga t ed i n f o r m a t i on •   Agg re ga t ed v o lu m e •   P ric e
e.	Da t eof the transaction	3 August 2021
f.	P l a c e   of   the transaction	Outside a trading venue

1.	De t a il softhepersondischargingmanagerialresponsibilities/personcloselyassociated
a.	Na m e	Christopher Belsham
2.	Reaso nforthe notification
a.	Po siti on /st a t us	Group Finance Director
b.	I n i t ia lnotification / A m end m en t	I n i t ia l
3.	De t a il softheissuer,emissionallowancemarketparticipant,auctionplatform,auctioneeror auctionmonitor
a.	Na m e	N WFGroupplc
b.	LE I	21 3 8 0 0AR R ZN N 1 WVZ9M70
4.	De t a il softhetransaction(s):sectiontoberepeatedfor(i)eachtypeofinstrument;(ii)eachtypeof transaction;(iii) eachdate;and(iv) eachplace wheretransactionshave beenconducted
a.	De scri p ti o nofthe Financialinstrument,type ofinstrument I den t ific a ti o ncode	O r d i na r ysharesof25pintheCompany GB00 065 23 608
b.	Na t u r e   of   the transaction	Award of options under the Company's Share Option Plan
c.	P ric e ( s )   and volume(s)
			P ric e ( s )	Vo l u m e ( s )
			0 p	85,714
d.	Agg re ga t ed i n f o r m a t i on •   Agg re ga t ed v o lu m e •   P ric e
e.	Da t eof the transaction	3 August 2021
f.	P l a c e   of   the transaction	Outside a trading venue

The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:
 

1.	De t a il softhepersondischargingmanagerialresponsibilities/personcloselyassociated
a.	Na m e	Rob Andrew
2.	Reaso nforthe notification
a.	Po siti on /st a t us	Company Secretary
b.	I n i t ia lnotification / A m end m en t	I n i t ia l
3.	De t a il softheissuer,emissionallowancemarketparticipant,auctionplatform,auctioneeror auctionmonitor
a.	Na m e	N WFGroupplc
b.	LE I	21 3 8 0 0AR R ZN N 1 WVZ9M70
4.	De t a il softhetransaction(s):sectiontoberepeatedfor(i)eachtypeofinstrument;(ii)eachtypeof transaction;(iii) eachdate;and(iv) eachplace wheretransactionshave beenconducted
a.	De scri p ti o nofthe Financialinstrument,type ofinstrument I den t ific a ti o ncode	O r d i na r ysharesof25pintheCompany GB00 065 23 608
b.	Na t u r e   of   the transaction	Award of options under the Company's Share Option Plan
c.	P ric e ( s )   and volume(s)
			P ric e ( s )	Vo l u m e ( s )
			0 p	64,286
d.	Agg re ga t ed i n f o r m a t i on •   Agg re ga t ed v o lu m e •   P ric e
e.	Da t eof the transaction	3 August 2021
f.	P l a c e   of   the transaction	Outside a trading venue

1.	De t a il softhepersondischargingmanagerialresponsibilities/personcloselyassociated
a.	Na m e	Andrew Downie
2.	Reaso nforthe notification
a.	Po siti on /st a t us	Managing Director Feeds
b.	I n i t ia lnotification / A m end m en t	I n i t ia l
3.	De t a il softheissuer,emissionallowancemarketparticipant,auctionplatform,auctioneeror auctionmonitor
a.	Na m e	N WFGroupplc
b.	LE I	21 3 8 0 0AR R ZN N 1 WVZ9M70
4.	De t a il softhetransaction(s):sectiontoberepeatedfor(i)eachtypeofinstrument;(ii)eachtypeof transaction;(iii) eachdate;and(iv) eachplace wheretransactionshave beenconducted
a.	De scri p ti o nofthe Financialinstrument,type ofinstrument I den t ific a ti o ncode	O r d i na r ysharesof25pintheCompany GB00 065 23 608
b.	Na t u r e   of   the transaction	Award of options under the Company's Share Option Plan
c.	P ric e ( s )   and volume(s)
			P ric e ( s )	Vo l u m e ( s )
			0 p	61,175
d.	Agg re ga t ed i n f o r m a t i on •   Agg re ga t ed v o lu m e •   P ric e
e.	Da t eof the transaction	3 August 2021
f.	P l a c e   of   the transaction	Outside a trading venue

The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:
 

1.	De t a il softhepersondischargingmanagerialresponsibilities/personcloselyassociated
a.	Na m e	Richard Huxley
2.	Reaso nforthe notification
a.	Po siti on /st a t us	Managing Director Fuels
b.	I n i t ia lnotification / A m end m en t	I n i t ia l
3.	De t a il softheissuer,emissionallowancemarketparticipant,auctionplatform,auctioneeror auctionmonitor
a.	Na m e	N WFGroupplc
b.	LE I	21 3 8 0 0AR R ZN N 1 WVZ9M70
4.	De t a il softhetransaction(s):sectiontoberepeatedfor(i)eachtypeofinstrument;(ii)eachtypeof transaction;(iii) eachdate;and(iv) eachplace wheretransactionshave beenconducted
a.	De scri p ti o nofthe Financialinstrument,type ofinstrument I den t ific a ti o ncode	O r d i na r ysharesof25pintheCompany GB00 065 23 608
b.	Na t u r e   of   the transaction	Award of options under the Company's Share Option Plan
c.	P ric e ( s )   and volume(s)
			P ric e ( s )	Vo l u m e ( s )
			0 p	66,359
d.	Agg re ga t ed i n f o r m a t i on •   Agg re ga t ed v o lu m e •   P ric e
e.	Da t eof the transaction	3 August 2021
f.	P l a c e   of   the transaction	Outside a trading venue

 

END

 

 

DSHEAEPAESKFEAA