New Long Term Incentive Plan

RNS Number : 6940H

Property Franchise Group PLC (The)

09 June 2017

 

THE PROPERTY FRANCHISE GROUP PLC

(the "Company" or the "Group")

New Long Term Incentive Plan

The Property Franchise Group, the UK's largest property franchisor with 6 brands across a network of 375 offices, today announces that it has granted options over new ordinary shares in the Company to its Chief Executive Officer and Chief Financial Officer under a new TPFG Share Option Plan.  The awards, which are the first to the Executives since the Initial Public Offering in December 2013, recognise each of their roles in developing and implementing the Company's strategic plans and are designed to continue to incentivise them appropriately.

The awards will be subject to the growth in the Company's basic earnings per share, excluding exceptional income/costs and share based payments ("adjusted EPS") over the 3 years to 31 December 2019. Adjusted EPS growth of 15% over the period will be required for threshold vesting of the awards, with adjusted EPS growth of 44% or higher required for all of the awards to vest. There will be a straight line sliding scale between these two points. None of the awards will vest for adjusted EPS growth below 15% over the period.

The maximum awards are stated below.

Name                                       Position                                   Number of shares

                                                                                                subject to awards

Ian Wilson                                 Chief Executive                          1,000,000

David Raggett                            Chief Financial Officer                 500,000                

Immediately prior to these awards the Company's issued share capital was 25,822,750 Ordinary Shares and there were outstanding awards granted under the EMI scheme over 64,800 Ordinary Shares.

Further detail is provided below in accordance with Article 19.3 of the EU Market Abuse Regulation.

1	Details of the person discharging managerial responsibilities/person closely associated.
a)	Name:				Ian Wilson			David Raggett
2	Reason for notification.
a)	Position/Status:				Chief Executive			Chief Financial Officer
b)	Initial Notification/Amendment:				Initial Notification			Initial Notification
3	Details of the issuer, emission allowance market participation, auction platform,
	auctioneer or auction monitor.
a)	Name:				The Property Franchise Group PLC			The Property Franchise Group PLC
b)	LEI:				2138008J5PTJ8C77I535			2138008J5PTJ8C77I535
4	Details of transaction(s);section to berepeated 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:				Ordinary Shares of			Ordinary Shares of
					1 pence each			1 pence each
	Identification code:				ISIN: GB00BH0WFH67			ISIN: GB00BH0WFH67
b)	Nature of transaction:				Grant of nil cost options			Grant of nil cost options
					over Company's shares			over Company's shares
c)	Price(s) and volume(s)				Price(s)	Volume(s)		Price(s)	Volume(s)
					1 pence each	1,000,000		1 pence each	500,000
d)	Aggregatted volume:				n/a			n/a
	Price:				n/a			n/a
e)	Date of Transaction:				9 June 2017			9 June 2017
f)	Place of the Transaction				London Stock Exchange			London Stock Exchange

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information, please contact:

The Property Franchise Group PLC                          01202 292829

Ian Wilson, Chief Executive Officer

David Raggett, Chief Financial Officer

Cenkos Securities plc                                             0207 397 8925

Max Hartley(Nomad), Alex Aylen (Sales)

Bell Pottinger                                                         020 3772 2500

David Rydell, Henry Lerwill

 

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