TIDMCRPR
RNS Number : 7671H
Cropper(James) PLC
02 August 2019
2 August 2019
James Cropper Plc
(the "Company")
Grant of Awards under Long Term Incentive Plan
The Company announces that on 1 August 2019, pursuant to the
Company's Long Term Incentive Plan ("LTIP"), conditional awards of
ordinary shares of 25p each ("Shares"), or cash equivalent, were
made to certain Directors, PDMRs and employees. The LTIP grants
participating employees conditional right to become entitled to
options with an exercise price of nil over Shares in the Company.
Grant awards to Directors and PDMRs are set out below:
Grant Date: 1 August 2019 Award Reference Price: 1120.8p per Share
Maximum Number
of Shares options Nature of conditional
under LTIP award award
Mark Cropper Director 3,364 Cash award
--------- ------------------- ----------------------
Phil Wild Director 13,286 Free cost options
--------- ------------------- ----------------------
Steve Adams Director 6,993 Free cost options
--------- ------------------- ----------------------
Isabelle Maddock Director 6,993 Free cost options
--------- ------------------- ----------------------
Martin Thompson Director 6,993 Free cost options
--------- ------------------- ----------------------
Dave Watson Director 6,993 Free cost options
--------- ------------------- ----------------------
Patrick Willink Director 5,877 Cash award
--------- ------------------- ----------------------
Jim Aldridge PDMR 676 Free cost options
--------- ------------------- ----------------------
David Nicholson PDMR 819 Free cost options
--------- ------------------- ----------------------
Conditional cash awards ("Cash Awards") grant participating
employees a conditional right to be paid a cash amount based on the
proceeds of the sale of a specified number of Shares following the
vesting of the award.
The LTIP options are subject to the achievement of
pre-determined performance conditions and become exercisable at the
end of a pre-determined holding period from the date of the award.
Further details are set out in the appendix below:
Appendix
The number of options that can be awarded to any participant in
a financial year under the Plan, determined by reference to
Company's 20-day average mid-market share price at the time of the
award, is limited to a maximum of 75% of the participant's basic
salary.
The LTIP awards are subject to the achievement of certain
performance conditions, specific to each participant, as set out
below:
Conditions of Award for Participants
(i) Earnings per share conditions
- Awards will vest in full on the third anniversary of the Award
provided the growth in the Company's earnings per share, adjusted
for IFRS pension adjustments, between the preceding financial year
end when the award was granted and the preceding financial year end
when the grant is vested exceed the increase in retail price index
plus 20% per annum;
- Awards will vest at 25% on the third anniversary of the Award
if the growth in the Company's earnings per share, adjusted for
IFRS pension adjustments, between the preceding financial year end
when the award was granted and the preceding financial year end
when the grant is vested exceed the increase in retail price index
plus 6.0% per annum;
- Awards will vest proportionally between 25% and 100% on the
third anniversary of the Award if the growth in the Company's
earnings per share, adjusted for IFRS adjustments, between the
preceding financial year end when the award was granted and the
preceding financial year end when the grant is vested exceed the
increase in retail price index by more than 6.0% but less than 20%
per annum; and
- Awards will lapse on the third anniversary of the Award if the
growth in the Company's earnings per share, adjusted for IFRS
pension adjustments, between the preceding financial year end when
the award was granted and the preceding financial year end when the
grant is vested, does not exceed the increase in retail price plus
6.0% per annum.
Enquiries:
James Cropper PLC (AIM: CRPR) Shore Capital
Isabelle Maddock, Group Finance Robert Finlay, Henry Willcocks
Director Richard Johnson
Jim Aldridge, Company Secretary Tel: + 44 (0) 207 408 4090
Tel: +44 (0) 1539 722002
www.jamescropper.com
The information below (set out in accordance with the
requirements of EU Market Abuse Regulation) provides further
detail:
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Names Mark Cropper
--------------------------------- ---------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Director, Chairman
--------------------------------- ---------------------------------
b) Initial notification /Amendment Initial Notification
--------------------------------- ---------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name James Cropper plc
--------------------------------- ---------------------------------
b) LEI 213800XM78VTDYGBRM93
--------------------------------- ---------------------------------
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 Ordinary Shares of 25p each
instrument, type of instrument
--------------------------------- ---------------------------------
b) Identification code GB0002346053
--------------------------------- ---------------------------------
c) Nature of the transaction Granting of cash settled Share
Options under the James Cropper
plc LTIP award
--------------------------------- ---------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
0.00 3,364
----------
--------------------------------- ---------------------------------
d) Aggregated information
- Aggregated volume 3,364
- Price 0.00
--------------------------------------- ---------------------------------
e) Date of the transaction 1 August 2019
--------------------------------- ---------------------------------
f) Place of the transaction Off Exchange
--------------------------------- ---------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Names Phil Wild
--------------------------------- -----------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status Director, 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 James Cropper plc
--------------------------------- -----------------------------------
b) LEI 213800XM78VTDYGBRM93
--------------------------------- -----------------------------------
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 Ordinary Shares of 25p each
instrument, type of instrument
--------------------------------- -----------------------------------
b) Identification code GB0002346053
--------------------------------- -----------------------------------
c) Nature of the transaction Granting of Share Options under
the James Cropper plc LTIP award.
--------------------------------- -----------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
0.00 13,286
----------
--------------------------------- -----------------------------------
d) Aggregated information
- Aggregated volume 13,286
- Price 0.00
--------------------------------------- -----------------------------------
e) Date of the transaction 1 August 2019
--------------------------------- -----------------------------------
f) Place of the transaction Off Exchange
--------------------------------- -----------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Names Steve Adams
--------------------------------- ----------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Director, Managing Director
of Paper Division
--------------------------------- ----------------------------------
b) Initial notification /Amendment Initial Notification
--------------------------------- ----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name James Cropper plc
--------------------------------- ----------------------------------
b) LEI 213800XM78VTDYGBRM93
--------------------------------- ----------------------------------
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 Ordinary Shares of 25p each
instrument, type of instrument
--------------------------------- ----------------------------------
b) Identification code GB0002346053
--------------------------------- ----------------------------------
c) Nature of the transaction Granting of Share Options under
the James Cropper plc LTIP award
--------------------------------- ----------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
0.00 6,993
----------
--------------------------------- ----------------------------------
d) Aggregated information
- Aggregated volume 6,993
- Price 0.00
--------------------------------------- ----------------------------------
e) Date of the transaction 1 August 2019
--------------------------------- ----------------------------------
f) Place of the transaction Off Exchange
--------------------------------- ----------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Names Isabelle Maddock
--------------------------------- ----------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Director, Group Finance Director
--------------------------------- ----------------------------------
b) Initial notification /Amendment Initial Notification
--------------------------------- ----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name James Cropper plc
--------------------------------- ----------------------------------
b) LEI 213800XM78VTDYGBRM93
--------------------------------- ----------------------------------
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 Ordinary Shares of 25p each
instrument, type of instrument
--------------------------------- ----------------------------------
b) Identification code GB0002346053
--------------------------------- ----------------------------------
c) Nature of the transaction Granting of Share Options under
the James Cropper plc LTIP award
--------------------------------- ----------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
0.00 6,993
----------
--------------------------------- ----------------------------------
d) Aggregated information
- Aggregated volume 6,993
- Price 0.00
--------------------------------------- ----------------------------------
e) Date of the transaction 1 August 2019
--------------------------------- ----------------------------------
f) Place of the transaction Off Exchange
--------------------------------- ----------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Names Martin Thompson
--------------------------------- ----------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Director, Managing Director
of TFP Division
--------------------------------- ----------------------------------
b) Initial notification /Amendment Initial Notification
--------------------------------- ----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name James Cropper plc
--------------------------------- ----------------------------------
b) LEI 213800XM78VTDYGBRM93
--------------------------------- ----------------------------------
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 Ordinary Shares of 25p each
instrument, type of instrument
--------------------------------- ----------------------------------
b) Identification code GB0002346053
--------------------------------- ----------------------------------
c) Nature of the transaction Granting of Share Options under
the James Cropper plc LTIP award
--------------------------------- ----------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
0.00 6,993
----------
--------------------------------- ----------------------------------
d) Aggregated information
- Aggregated volume 6,993
- Price 0.00
--------------------------------------- ----------------------------------
e) Date of the transaction 1 August 2019
--------------------------------- ----------------------------------
f) Place of the transaction Off Exchange
--------------------------------- ----------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Names Dave Watson
----------------------------- -------------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status Director, Chief Operations Officer
----------------------------- -------------------------------------
b) Initial notification Initial Notification
/Amendment
----------------------------- -------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------
a) Name James Cropper plc
----------------------------- -------------------------------------
b) LEI 213800XM78VTDYGBRM93
----------------------------- -------------------------------------
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 Ordinary Shares of 25p each
financial instrument,
type of instrument
----------------------------- -------------------------------------
b) Identification code GB0002346053
----------------------------- -------------------------------------
c) Nature of the transaction Granting of Share Options under the
James Cropper plc LTIP award
----------------------------- -------------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
0.00 6,993
----------
----------------------------- -------------------------------------
d) Aggregated information
- Aggregated volume 6,993
- Price 0.00
----------------------------------- -------------------------------------
e) Date of the transaction 1 August 2019
----------------------------- -------------------------------------
f) Place of the transaction Off Exchange
----------------------------- -------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Names Patrick Willink
--------------------------- ----------------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Director, Chief Technology Officer
--------------------------- ----------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name James Cropper plc
--------------------------- ----------------------------------------
b) LEI 213800XM78VTDYGBRM93
--------------------------- ----------------------------------------
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 Ordinary Shares of 25p each
financial instrument,
type of instrument
--------------------------- ----------------------------------------
b) Identification code GB0002346053
--------------------------- ----------------------------------------
c) Nature of the transaction Granting of cash settled Share Options
under the James Cropper plc LTIP award
--------------------------- ----------------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
0.00 5,877
----------
--------------------------- ----------------------------------------
d) Aggregated information
- Aggregated volume 5,877
- Price 0.00
--------------------------------- ----------------------------------------
e) Date of the transaction 1 August 2019
--------------------------- ----------------------------------------
f) Place of the transaction Off Exchange
--------------------------- ----------------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Names Jim Aldridge
--------------------------------- ---------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status PDMR, 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 James Cropper plc
--------------------------------- ---------------------------------
b) LEI 213800XM78VTDYGBRM93
--------------------------------- ---------------------------------
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 Ordinary Shares of 25p each
instrument, type of instrument
--------------------------------- ---------------------------------
b) Identification code GB0002346053
--------------------------------- ---------------------------------
c) Nature of the transaction Granting of cash settled Share
Options under the James Cropper
plc LTIP award
--------------------------------- ---------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
0.00 676
----------
--------------------------------- ---------------------------------
d) Aggregated information
- Aggregated volume 676
- Price 0.00
--------------------------------------- ---------------------------------
e) Date of the transaction 1 August 2019
--------------------------------- ---------------------------------
f) Place of the transaction Off Exchange
--------------------------------- ---------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Names David Nicholson
--------------------------------- ---------------------------------
2 Reason for the notification
--------------------------------------------------------------------
a) Position/status PDMR, 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 James Cropper plc
--------------------------------- ---------------------------------
b) LEI 213800XM78VTDYGBRM93
--------------------------------- ---------------------------------
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 Ordinary Shares of 25p each
instrument, type of instrument
--------------------------------- ---------------------------------
b) Identification code GB0002346053
--------------------------------- ---------------------------------
c) Nature of the transaction Granting of cash settled Share
Options under the James Cropper
plc LTIP award
--------------------------------- ---------------------------------
d) Price(s) and volume(s) Price(s) Volume(s)
0.00 819
----------
--------------------------------- ---------------------------------
d) Aggregated information
- Aggregated volume 819
- Price 0.00
--------------------------------------- ---------------------------------
e) Date of the transaction 1 August 2019
--------------------------------- ---------------------------------
f) Place of the transaction Off Exchange
--------------------------------- ---------------------------------
This information is provided by RNS, the news service of the
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Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
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END
DSHFLLFBKVFLBBZ
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August 02, 2019 07:27 ET (11:27 GMT)
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