NWF Group PLC Director/PDMR Shareholding (2265W)
July 31 2018 - 1:02AM
UK Regulatory
TIDMNWF
RNS Number : 2265W
NWF Group PLC
31 July 2018
NWF Group plc
31 July 2018
NWF Group plc ('NWF', 'the Group' or 'the Company')
Award of Options and Issue of Equity under Company Performance
Share Plan
NWF Group plc, the Fuels, Food and Feed specialist distribution
business, announces the following awards have been approved under
the terms of the established NWF Company Performance Share Plan
(the "Plan").
Richard Whiting, Chief Executive of NWF, will receive an award
of a conditional right over a maximum of 146,835 ordinary shares of
25 pence each of the Company ("Shares") at a price of 197.5 pence
per Share, being the mid-market price at the close of business on
30 July 2018. This award is subject to the following performance
targets:
1. if the reported headline basic earnings per share for the
three financial years ending 31 May 2021 increases by RPI plus 2%
per annum then 44,051 Shares will be issued under the Plan; and
2. the maximum of 146,835 Shares will be issued if the reported
headline basic earnings per share increases by RPI plus 8% per
annum for the three financial years ending 31 May 2021.
Following the award, Richard Whiting will be interested in
499,569 conditional awards over Shares.
Chris Belsham, Group Finance Director of NWF, will receive an
award of a conditional right over a maximum of 88,228 ordinary
shares of 25 pence each of the Company ("Shares") at a price of
197.5 pence per Share, being the mid-market price at the close of
business on 30 July 2018. This award is subject to the following
performance targets:
1. if the reported headline basic earnings per share for the
three financial years ending 31 May 2021 increases by RPI plus 2%
per annum then 26,468 Shares will be issued under the Plan; and
2. the maximum of 88,228 Shares will be issued if the reported
headline basic earnings per share increases by RPI plus 8% per
annum for the three financial years ending 31 May 2021.
Following the award, Chris Belsham will be interested in 203,482
conditional awards over Shares.
Rob Andrew, Group Company Secretary of NWF, will receive an
award of a conditional right over a maximum of 66,203 Shares at a
price of 197.5 pence per Share, being the mid-market price at the
close of business on 30 July 2018. This award is subject to the
following performance targets:
1. if the reported headline basic earnings per share for the
three financial years ending 31 May 2021 increases by RPI plus 2%
per annum then 19,861 Shares will be issued under the Plan; and
2. the maximum of 66,203 Shares will be issued if the reported
headline basic earnings per share increases by RPI plus 8% per
annum for the three financial years ending 31 May 2021.
Following the award, Rob Andrew will be interested in 225,108
conditional awards over Shares.
The Company announces that it will issue 88,920 ordinary shares,
in respect of awards made under the Plan. Following the
satisfaction of performance conditions 47,538 will be issued in
respect of Richard Whiting who will then have an interest of
358,305 ordinary shares of the Company representing 0.74% of the
issued share capital of the Company. 21,409 will be issued in
respect of Rob Andrew who will then have an interest in 91,853
ordinary shares in the Company representing 0.19% of the issued
share capital of the Company.
Application has been made for the 88,920 new Shares to be
admitted to trading on AIM ("Admission"). Admission is expected to
take place at 8.00 am on 3 August 2018.
Following Admission NWF's total issued share capital will be
48,733,540 Shares. There are no shares held in treasury.
The Plan was established for the purpose of incentivising and
retaining the Company's eligible executive management. Shares
awarded under the Plan are subject to a performance criteria that
requires NWF to meet a minimum reported basic earnings per share
target over a three year period. The Remuneration Committee has
responsibility for determining the award of Shares and the
performance targets under the Plan.
Enquiries:
Rob Andrew Reg Hoare Justin Jones / Mike
Group Company Secretary MHP Communications Bell
NWF Group plc Tel: 0203 128 8100 Peel Hunt LLP
Tel: 01829 260 260 (Nominated Adviser)
Tel: 020 7418 8900
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END
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