Grant of performance share awards (LTIP) to PDMRs

RNS Number : 1810B

Pebble Group PLC (The)

08 June 2021

 

8 June 2021

THE PEBBLE GROUP PLC

(the "Company")

Grant of performance share awards under Long Term Incentive Plan 2019
and
Notification of transactions by PDMRs

The Pebble Group plc (AIM: PEBB) , a leading provider of technology, services and products to the global promotional products industry , announces that on 8 June 2021 the Company made awards of 960,510 nil cost options ("Performance Shares") under The Pebble Group plc Long Term Incentive Plan 2019 ("LTIP") to a number of senior employees across the Group, including to the Persons Discharging Managerial Responsibilities as detailed below ("PDMR"):

PDMR	Number of awards
Christopher Lee	176,471
Claire Thomson	130,719
Louisa Hesketh	12,418
Ashley McCune	76,096
Karl Whiteside	76,096

The vesting of all the Performance Shares is conditional on meeting performance conditions measured over a three-year period as described below.

Performance conditions

1. Adjusted Earnings Per Share Target

Up to 70% of the total LTIP awards will vest on the achievement of total adjusted earnings per share ("EPS") for the three years ending 31 December 2023, determined as follows:

Cumulative Adjusted EPS for the three year period to 31 December 2023	Portion of Ordinary Shares vesting subject to Adjusted EPS target
Below 15.4p	No vesting
15.4p	25%
16.3p	60%
17.3p	100%

2. Total Shareholder Return ("TSR") Target

Up to 30% of the total Performance Shares will vest dependent upon the performance of the Company's Absolute TSR measured over the three year period ending 31 December 2023. The share price at the start of this period was 130p.

Annualised TSR for the three year period to 31 December 2023	Portion of Ordinary Shares vesting subject to TSR Target
Below 8.0% per annum	No vesting
8.0% per annum	25%
11.3% per annum	60%
15% per annum	100%

A holding period of two years from date of vesting is applicable to the LTIP awards granted to the Executive Directors of the Company, consistent with the awards granted under the LTIP in December 2020.

The making of these awards at these levels and with these performance conditions is considered by the Remuneration Committee to be in accordance with the Company's Remuneration Policy with regard to the Executive Directors, and as outlined in the Annual Report and Accounts 2020.

The Remuneration Committee has discretion to adjust the level of vesting if in its opinion such level of vesting resulting from the application of the Performance Target is considered not to be a fair and accurate reflection of the performance of the Company or a fair and accurate reflection of the award holder's performance or where there is any other factor or any other circumstances which would make the level of vesting inappropriate without adjustment.

The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014: 

1	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	1.  Christopher Lee 2.  Claire Thomson 3.  Louisa Hesketh 4.   Ashely McCune 5.  Karl Whiteside
2	Reason for the notification
(a)	Position/status	1.  Chief Executive Officer 2.  Chief Financial Officer 3.  Group Financial Controller 4.  President, Facilisgroup 5.  Group MD, Brand Addition
(b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
(a)	Name	The Pebble Group plc
(b)	LEI	213800LZUQAYBHDEQY04
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 ISIN GB00BK71XP16 PEBB.L
(b)	Nature of the transaction	Award of nil-cost options pursuant to The Pebble Group plc Long Term Incentive Plan
(c)	Price(s) and volume(s)	Price(s) Volume(s) 1 2 3 4 5 NIL NIL NIL NIL NIL 176,471 130,719 12,418 76,096 76,096
(d)	Aggregated information -  Aggregated volume -  Price	N/A
(e)	Date of the transaction	8 June 2021
(f)	Place of the transaction	Outside a trading venue

Enquiries

The Pebble Group plc Chris Lee, Chief Executive Officer Claire Thomson, Chief Financial Officer	[phone]
Grant Thornton UK LLP (Nominated Adviser) Samantha Harrison / Harrison Clarke / Lukas Girzadas	[phone]
Berenberg (Corporate Broker) Chris Bowman / Jen Clarke / Arnav Kapoor	[phone]
Belvedere Communications (Financial PR) Cat Valentine Keeley Clarke Llew Angus	[e-mail] [phone] [phone] [phone]

About The Pebble Group plc - www.thepebblegroup.com  

The Pebble Group is a provider of technology, services and products to the global promotional products industry, comprising two differentiated businesses, focused on specific areas of the promotional products market:

Facilisgroup - www.facilisgroup.com

Facilisgroup focuses on supporting the growth of mid-sized Promotional Product businesses in North America by providing a technology platform, which enables those businesses to benefit from significant business efficiency and gain meaningful supply chain advantage from the ability to purchase from quality suppliers under preferred terms.

Brand Addition - www.brandaddition.com

Brand Addition focuses upon providing promotional products and related services under contract to some of the world's most recognisable brands. Its largest contracts are valued in the millions of pounds with the products and services supplied being used for brand building, customer engagement and employee rewards. Working in close collaboration with its clients, Brand Addition designs products and product ranges, hosts client-branded global web stores and provides international sourcing and distribution solutions.

We categorise our revenues into two divisions, Corporate Programmes, that supports our clients' general marketing activities, and Consumer Promotions, that supports our clients in driving their own sales volumes.

 

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