Grant of Awards under LTIP

RNS Number : 0400F

Walker Greenbank PLC

11 November 2020

 

For immediate release

11 November 2020

WALKER GREENBANK PLC

("Walker Greenbank" or the "Company")

Grant of Awards under LTIP

Walker Greenbank PLC  (AIM: WGB), the luxury interior furnishings group, announces that on 11 November 2020 it granted nil-cost options (the "Awards") over ordinary shares of 1 pence each in the Company (the "Shares") to eight persons discharging managerial responsibilities ("PDMR") under the Walker Greenbank PLC 2015 Long Term Incentive Plan (the "LTIP").

Details of the Awards are set out below:

Director/ PDMR	Number of Shares under Award on the basis of achieving the maximum performance targets
Lisa Montague, Chief Executive Officer	292,500
Michael Williamson, Chief Financial Officer	122,757
Mauricio Solojudin, Global Commercial Director	68,695
Nigel Hunt, Global Marketing & Digital Director	64,338
Ben Naylor, Group Operations Director	49,632
Claire Vallis, Creative Director	57,375
Carla Barnett, Group HR Director	50,222
Caroline Geary, Company Secretary	19,538

To help ensure the participants do not receive potential windfall gains as a result of the impact of COVID-19, a share price of 68.0 pence per Share was used when calculating the grant. This is based on the average share price for the three months prior to 1 March 2020 and for the three months up to 31 October 2020. No payment was required for the grant of the Awards.

The LTIP was approved by shareholders at the 2015 AGM. The Awards are subject to the satisfaction of three performance condition underpins. Two underpins measure the financial performance of the Company by way of Earnings before Interest and Tax (EBIT) and Free Cash Flow over a three year period, ending 31 January 2023. The third underpin is a continuous improvement in sustainability, based on a reduction of carbon footprint and contribution to the UN Sustainable Development Goals.

The Awards for Lisa Montague and Michael Williamson shall vest in three tranches as set out below:

Tranche as a percentage of the Award	Normal Vesting Date of each tranche of the Award
40%	11 November 2023
30%	11 November 2024
30%	11 November 2025

The Awards for the other PDMRs shall vest in three tranches as set out below

Tranche as a percentage of the Award	Normal Vesting Date of each tranche of the Award
40%	11 November 2023
40%	11 November 2024
20%	11 November 2025

Further details of the performance measures will be set out in the Company's 2021 Annual Report and Accounts.

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Lisa Montague
2.	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Walker Greenbank PLC
b)	LEI	213800A8K2WOUZJIQL93
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, type of instrument Identification code	Ordinary Shares of 1 pence each GB0003061511
b)	Nature of the transaction	Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 292,500
d)	Aggregated information	Not applicable - single transaction
e)	Date of the transaction	11 November 2020
f)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Michael Williamson
2.	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Walker Greenbank PLC
b)	LEI	213800A8K2WOUZJIQL93
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, type of instrument Identification code	Ordinary Shares of 1 pence each GB0003061511
b)	Nature of the transaction	Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 122,757
d)	Aggregated information	Not applicable - single transaction
e)	Date of the transaction	11 November 2020
f)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Mauricio Soldujin
2.	Reason for the notification
a)	Position/status	Global Commercial Director
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Walker Greenbank PLC
b)	LEI	213800A8K2WOUZJIQL93
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, type of instrument Identification code	Ordinary Shares of 1 pence each GB0003061511
b)	Nature of the transaction	Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 68,695
d)	Aggregated information	Not applicable - single transaction
e)	Date of the transaction	11 November 2020
f)	Place of the transaction	Outside a trading venue
1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Nigel Hunt
2.	Reason for the notification
a)	Position/status	Global Marketing & Digital Director
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Walker Greenbank PLC
b)	LEI	213800A8K2WOUZJIQL93
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, type of instrument Identification code	Ordinary Shares of 1 pence each GB0003061511
b)	Nature of the transaction	Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 64,338
d)	Aggregated information	Not applicable - single transaction
e)	Date of the transaction	11 November 2020
f)	Place of the transaction	Outside a trading venue
1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Ben Naylor
2.	Reason for the notification
a)	Position/status	Group Operations Director
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Walker Greenbank PLC
b)	LEI	213800A8K2WOUZJIQL93
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, type of instrument Identification code	Ordinary Shares of 1 pence each GB0003061511
b)	Nature of the transaction	Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 49,632
d)	Aggregated information	Not applicable - single transaction
e)	Date of the transaction	11 November 2020
f)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Claire Vallis
2.	Reason for the notification
a)	Position/status	Creative Director
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Walker Greenbank PLC
b)	LEI	213800A8K2WOUZJIQL93
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, type of instrument Identification code	Ordinary Shares of 1 pence each GB0003061511
b)	Nature of the transaction	Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 57,375
d)	Aggregated information	Not applicable - single transaction
e)	Date of the transaction	11 November 2020
f)	Place of the transaction	Outside a trading venue
1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Carla Barnett
2.	Reason for the notification
a)	Position/status	Group HR Director
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Walker Greenbank PLC
b)	LEI	213800A8K2WOUZJIQL93
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, type of instrument Identification code	Ordinary Shares of 1 pence each GB0003061511
b)	Nature of the transaction	Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 50,222
d)	Aggregated information	Not applicable - single transaction
e)	Date of the transaction	11 November 2020
f)	Place of the transaction	Outside a trading venue
1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Caroline Geary
2.	Reason for the notification
a)	Position/status	Company Secretary
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Walker Greenbank PLC
b)	LEI	213800A8K2WOUZJIQL93
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, type of instrument Identification code	Ordinary Shares of 1 pence each GB0003061511
b)	Nature of the transaction	Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil 19,538
d)	Aggregated information	Not applicable - single transaction
e)	Date of the transaction	11 December 2019
f)	Place of the transaction	Outside a trading venue

For further information:

Walker Greenbank PLC	[phone]
Lisa Montague, Chief Executive Officer Michael Williamson, Chief Financial Officer
Caroline Geary, Company Secretary
Investec Bank plc (Nominated Adviser and Broker)	[phone]
David Anderson / Alex Wright
Henry Reast
Buchanan	[phone]
Mark Court / Toto Berger / Charlotte Slater

Notes for editors:

About Walker Greenbank

Walker Greenbank PLC is a luxury interior furnishings company that designs, manufactures and markets wallpapers, fabrics and paints. In addition, the Company derives significant licensing income from the use of its designs on a wide range of interior products such as bed linen, rugs and tableware.

Walker Greenbank's brands include Zoffany, Sanderson, Morris & Co., Harlequin, Scion, Anthology, Clarke & Clarke and Studio G.

The Company has a strong UK manufacturing base comprising a wallpaper factory in Loughborough and a fabric printing factory in Lancaster. Both factories manufacture for the Company and for other wallpaper and fabric brands.

Walker Greenbank employs approximately 600 people and its products are sold in more than 85 countries worldwide. It has showrooms in London, New York, Chicago, Paris, and Dubai.

Walker Greenbank trades on the AIM market of the London Stock Exchange under the ticker symbol WGB.

For further information please visit: www.walkergreenbank.com/

 

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