TIDMHSS

RNS Number : 3942Q

HSS Hire Group PLC

25 February 2021

HSS Hire Group plc

Grant of incentive awards

On 25 February 2021, HSS Hire Group plc (the "Company") granted awards in accordance with the terms of its new Value Creation Plan (the "VCP") to certain Executives, as detailed below (the "Executives").

Under the VCP the Executives will share in total 20% of the increase in the value of the Company up to the time of a change of control (or other relevant event) (the "VCP Pool"). Each Executive will be entitled to one third of the VCP Pool. The VCP has been designed by the Company's Remuneration Committee in consultation with the Company's major shareholders.

The increase in the value of the Company will be calculated by reference to the increase in its market capitalisation from an opening value of GBP104,471,648 (based on a share price of GBP0.15) to the closing market capitalisation on an exit event. Appropriate adjustments shall be made in respect of any capital raised from or returned to shareholders over the period. Awards under the VCP will be settled in cash other than in certain circumstances where an award which vests early to a "good leaver" may be settled in shares.

The Executives will not participate in future Company share incentive schemes.

This announcement, including the notifications below, has been made in accordance with the requirements of the Market Abuse Regulation.

 
1   Details of the person discharging managerial responsibilities/person 
     closely associated 
a)  Name                               Steve Ashmore 
    ---------------------------------  ----------------------------------- 
2   Reason for the notification 
    ---------------------------------------------------------------------- 
a)  Position/status                    Chief Executive Officer 
    ---------------------------------  ----------------------------------- 
b)  Initial notification/ Amendment    Initial notification 
    ---------------------------------  ----------------------------------- 
3   Details of the issuer 
    ---------------------------------------------------------------------- 
a)  Name                               HSS Hire Group plc 
    ---------------------------------  ----------------------------------- 
b)  LEI code                           2138004DGL1J6VQO6S92 
    ---------------------------------  ----------------------------------- 
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       A right under the HSS Hire VCP 
     instrument, type of instrument     to receive a payment by reference 
     Identification code                to the growth in value of HSS 
                                        Hire Group plc 
    ---------------------------------  ----------------------------------- 
b)  Identification code                N/A 
    ---------------------------------  ----------------------------------- 
c)  Nature of the transaction          Grant of award 
    ---------------------------------  ----------------------------------- 
d)  Price(s) and volume(s)              Price   Volume 
                                         N/A     N/A 
                                                ------- 
    ---------------------------------  ----------------------------------- 
e)  Aggregated information             N/A 
     - Aggregated volume 
     - Price 
    ---------------------------------  ----------------------------------- 
f)  Date of the transaction            25 February 2021 
    ---------------------------------  ----------------------------------- 
g)  Place of the transaction           Outside a trading venue 
    ---------------------------------  ----------------------------------- 
 
 
1   Details of the person discharging managerial responsibilities/person 
     closely associated 
a)  Name                               Paul Quested 
    ---------------------------------  ----------------------------------- 
2   Reason for the notification 
    ---------------------------------------------------------------------- 
a)  Position/status                    Chief Financial Officer 
    ---------------------------------  ----------------------------------- 
b)  Initial notification/ Amendment    Initial notification 
    ---------------------------------  ----------------------------------- 
3   Details of the issuer 
    ---------------------------------------------------------------------- 
a)  Name                               HSS Hire Group plc 
    ---------------------------------  ----------------------------------- 
b)  LEI code                           2138004DGL1J6VQO6S92 
    ---------------------------------  ----------------------------------- 
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       A right under the HSS Hire VCP 
     instrument, type of instrument     to receive a payment by reference 
     Identification code                to the growth in value of HSS 
                                        Hire Group plc 
    ---------------------------------  ----------------------------------- 
b)  Identification code                N/A 
    ---------------------------------  ----------------------------------- 
c)  Nature of the transaction          Grant of award 
    ---------------------------------  ----------------------------------- 
d)  Price(s) and volume(s)              Price   Volume 
                                         N/A     N/A 
                                                ------- 
    ---------------------------------  ----------------------------------- 
e)  Aggregated information             N/A 
     - Aggregated volume 
     - Price 
    ---------------------------------  ----------------------------------- 
f)  Date of the transaction            25 February 2021 
    ---------------------------------  ----------------------------------- 
g)  Place of the transaction           Outside a trading venue 
    ---------------------------------  ----------------------------------- 
 
 
1   Details of the person discharging managerial responsibilities/person 
     closely associated 
a)  Name                               Tom Shorten 
    ---------------------------------  ----------------------------------- 
2   Reason for the notification 
    ---------------------------------------------------------------------- 
a)  Position/status                    Chief Commercial Officer 
    ---------------------------------  ----------------------------------- 
b)  Initial notification/ Amendment    Initial notification 
    ---------------------------------  ----------------------------------- 
3   Details of the issuer 
    ---------------------------------------------------------------------- 
a)  Name                               HSS Hire Group plc 
    ---------------------------------  ----------------------------------- 
b)  LEI code                           2138004DGL1J6VQO6S92 
    ---------------------------------  ----------------------------------- 
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       A right under the HSS Hire VCP 
     instrument, type of instrument     to receive a payment by reference 
     Identification code                to the growth in value of HSS 
                                        Hire Group plc 
    ---------------------------------  ----------------------------------- 
b)  Identification code                N/A 
    ---------------------------------  ----------------------------------- 
c)  Nature of the transaction          Grant of award 
    ---------------------------------  ----------------------------------- 
d)  Price(s) and volume(s)              Price   Volume 
                                         N/A     N/A 
                                                ------- 
    ---------------------------------  ----------------------------------- 
e)  Aggregated information             N/A 
     - Aggregated volume 
     - Price 
    ---------------------------------  ----------------------------------- 
f)  Date of the transaction            25 February 2021 
    ---------------------------------  ----------------------------------- 
g)  Place of the transaction           Outside a trading venue 
    ---------------------------------  ----------------------------------- 
 

For further information, please contact:

 
 HSS Hire Group plc           Tel: 020 3757 9248 
 Investor Relations Manager   Please email: investors@hss.com 
 
 
 
 Numis Securities             Tel: 020 7260 1000 
  Stuart Skinner 
  George Price 
 
 Teneo                        Tel: 07785 528363 / 07557 491860 
 Matt Thomlinson 
 Tom Davies 
 
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February 25, 2021 09:20 ET (14:20 GMT)