TIDMPGH
RNS Number : 5868U
Personal Group Holdings PLC
07 April 2021
07 April 2021
Personal Group Holdings Plc
("the Company" or "Group")
Long Term Incentive Plan Awards
Personal Group Holdings Plc (AIM: PGH), the technology-enabled
employee benefits and services provider, announces the grant of
share awards under the Personal Group Holdings Plc 2021 Long Term
Incentive Plan (the "LTIP"). The LTIP has been established in order
to reward and incentivise the senior executives to deliver
sustainable growth for the Company and to create material value for
shareholders.
The 2021 Plan replaces the LTIP that Personal Group has had in
place since 2012 and which expired early 2020. The awards are in
the form of an option over ordinary shares in the Company, which
vest subject to the achievement of certain performance criteria and
which have a nominal value exercise price of GBP0.05 per share (the
"Awards").
The vesting of the Awards is subject to the satisfaction of
performance conditions assessed over the three financial years
ending 31 December 2023. Once vested, the options may be exercised
at any time until the tenth anniversary of the Award date. The
Awards are subject to claw back and malus provisions.
Performance conditions
The Awards are subject to attainment of targets over three
areas:
- Total shareholder return - 50% of Award, with 25% vesting at
achievement of threshold target, 100% vesting at maximum target,
and a linear sliding scale between 25% and 100%.
- EBITDA - 35% of Award, with 25% vesting at achievement of
threshold 3-year cumulative target, 100% vesting at maximum target,
and a linear sliding scale between 25% and 100%.
- ESG Measures - 15% of Award, with 100% vesting where the
Remuneration Committee ascertains that all performance measures
have been adequately met.
The core performance measures underpinning the vesting of awards
under the LTIP are the delivery of at least 7% per annum cumulative
TSR growth up to a maximum of 15% TSR for full vesting, and EBITDA
of at least GBP27m up to a maximum of GBP35m, in aggregate over the
three financial years ending 31 December 2023. The ESG targets
relate to reducing CO(2) usage, having a positive social impact on
the communities where the Group trades and continuing to ensure
robust governance.
On 6 April 2021, Awards were granted to the following
individuals:
PDMR Number of options
over ordinary
shares subject
to Award
Deborah Frost - Chief Executive 206,047
------------------
Sarah Mace - Chief Financial
Officer 62,438
------------------
Ashley Doody - Chief Information
Officer 49,951
------------------
Rebekah Tapping - Group HR
Director 49,951
------------------
Karen Thornley - Chief Commercial
Officer 49,951
------------------
Richard Thompson - MD Let's
Connect 49,951
------------------
In addition to the Awards detailed above, on 6 April 2021 a
further award of 29,615 options over ordinary shares was granted to
Deborah Frost. These options will vest on 31 March 2022 and have no
performance conditions attached to them other than the requirement
for Deborah to remain with the Group on the date of vesting. In
July 2020, the Remuneration Committee approved that the award,
which had an equivalent value of GBP75,000 at that time, be made to
Deborah once the new LTIP mechanism had been established, in
recognition of her contributions since joining the Group. These
will also be in the form of nil cost options.
Personal Group recognises the importance of rewarding all its
employees for their contributions and has several broader
incentivisation schemes in place in addition to the above,
including a Company Share Option Scheme.
The Grant of the Awards constitutes a related party transaction
for the purposes of AIM Rule 13. The independent directors
consider, having consulted with the Company's nominated adviser,
that the terms of the transaction are fair and reasonable insofar
as its shareholders are concerned.
Further detail is provided below in accordance with Article 19.3
of the EU Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Deborah Frost
----------------------------- ------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Chief Executive Officer
----------------------------- ------------------------------------------
b) Initial notification Initial
/ Amendment
----------------------------- ------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Personal Group Holdings Plc
----------------------------- ------------------------------------------
b) LEI 213800TN8BH2YYWAH345
----------------------------- ------------------------------------------
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 Options over ordinary shares of
financial instrument, 5p each
type of instrument ISIN: GB0002760279
Identification code
----------------------------- ------------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
of GBP0.05 each pursuant to Company's
long term incentive plan
----------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Exercise price
of GBP0.05
per share 206,047
----------
----------------------------- ------------------------------------------
d) Aggregated information N/A - single transaction
- Aggregated volume
- Price
----------------------------- ------------------------------------------
e) Date of the transaction 6 April 2021
----------------------------- ------------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------- ------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Sarah Mace
----------------------------- ------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Chief Financial Officer
----------------------------- ------------------------------------------
b) Initial notification Initial
/ Amendment
----------------------------- ------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Personal Group Holdings Plc
----------------------------- ------------------------------------------
b) LEI 213800TN8BH2YYWAH345
----------------------------- ------------------------------------------
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 Grant of options over ordinary shares
financial instrument, of 5p each
type of instrument ISIN: GB0002760279
Identification code
----------------------------- ------------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
of GBP0.05 each pursuant to Company's
long term incentive plan
----------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Exercise price
of GBP0.05
per share 62,438
----------
----------------------------- ------------------------------------------
d) Aggregated information N/A - single transaction
- Aggregated volume
- Price
----------------------------- ------------------------------------------
e) Date of the transaction 6 April 2021
----------------------------- ------------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------- ------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Ashley Doody
----------------------------- ------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Chief Information Officer
----------------------------- ------------------------------------------
b) Initial notification Initial
/ Amendment
----------------------------- ------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Personal Group Holdings Plc
----------------------------- ------------------------------------------
b) LEI 213800TN8BH2YYWAH345
----------------------------- ------------------------------------------
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 Options ordinary shares of 5p each
financial instrument, ISIN: GB0002760279
type of instrument
Identification code
----------------------------- ------------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
of GBP0.05 each pursuant to Company's
long term incentive plan
----------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Exercise price
of GBP0.05
per share 49,951
----------
----------------------------- ------------------------------------------
d) Aggregated information N/A - single transaction
- Aggregated volume
- Price
----------------------------- ------------------------------------------
e) Date of the transaction 6 April 2021
----------------------------- ------------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------- ------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Rebekah Tapping
----------------------------- ------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Group HR Director
----------------------------- ------------------------------------------
b) Initial notification Initial
/ Amendment
----------------------------- ------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Personal Group Holdings Plc
----------------------------- ------------------------------------------
b) LEI 213800TN8BH2YYWAH345
----------------------------- ------------------------------------------
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 Options over ordinary shares of
financial instrument, 5p each
type of instrument ISIN: GB0002760279
Identification code
----------------------------- ------------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
of GBP0.05 each pursuant to Company's
long term incentive plan
----------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Exercise price
of GBP0.05
per share 49,951
----------
----------------------------- ------------------------------------------
d) Aggregated information N/A - single transaction
- Aggregated volume
- Price
----------------------------- ------------------------------------------
e) Date of the transaction 6 April 2021
----------------------------- ------------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------- ------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Karen Thornley
----------------------------- ------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Chief Commercial Officer
----------------------------- ------------------------------------------
b) Initial notification Initial
/ Amendment
----------------------------- ------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Personal Group Holdings Plc
----------------------------- ------------------------------------------
b) LEI 213800TN8BH2YYWAH345
----------------------------- ------------------------------------------
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 Options over ordinary shares of
financial instrument, 5p each
type of instrument ISIN: GB0002760279
Identification code
----------------------------- ------------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
of GBP0.05 each pursuant to Company's
long term incentive plan
----------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Exercise price
of GBP0.05
per share 49,951
----------
----------------------------- ------------------------------------------
d) Aggregated information N/A - single transaction
- Aggregated volume
- Price
----------------------------- ------------------------------------------
e) Date of the transaction 6 April 2021
----------------------------- ------------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------- ------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Richard Thompson
----------------------------- ------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Managing Director, Let's Connect
----------------------------- ------------------------------------------
b) Initial notification Initial
/ Amendment
----------------------------- ------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Personal Group Holdings Plc
----------------------------- ------------------------------------------
b) LEI 213800TN8BH2YYWAH345
----------------------------- ------------------------------------------
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 Options over ordinary shares of
financial instrument, 5p each
type of instrument ISIN: GB0002760279
Identification code
----------------------------- ------------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
of GBP0.05 each pursuant to Company's
long term incentive plan
----------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Exercise price
of GBP0.05
per share 49,951
----------
----------------------------- ------------------------------------------
d) Aggregated information N/A - single transaction
- Aggregated volume
- Price
----------------------------- ------------------------------------------
e) Date of the transaction 6 April 2021
----------------------------- ------------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------- ------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Deborah Frost
----------------------------- ------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------
a) Position/status Chief Executive Officer
----------------------------- ------------------------------------------
b) Initial notification Initial
/ Amendment
----------------------------- ------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Personal Group Holdings Plc
----------------------------- ------------------------------------------
b) LEI 213800TN8BH2YYWAH345
----------------------------- ------------------------------------------
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 Options over ordinary shares of
financial instrument, 5p each
type of instrument ISIN: GB0002760279
Identification code
----------------------------- ------------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
of GBP0.05 each
----------------------------- ------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Exercise price
of GBP0.05
per share 29,615
----------
----------------------------- ------------------------------------------
d) Aggregated information N/A - single transaction
- Aggregated volume
- Price
----------------------------- ------------------------------------------
e) Date of the transaction 6 April 2021
----------------------------- ------------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------- ------------------------------------------
-ENDS-
For more information please contact:
Personal Group Holdings Plc
Deborah Frost (CEO) / Sarah Mace Via Alma PR
(CFO)
Cenkos Securities Plc
Max Hartley / Callum Davidson
(Nomad) +44 (0)20 7397 8900
Russell Kerr (Sales)
Alma PR +44 (0)20 3405 0205
Susie Hudson / Caroline Forde personalgroup@almapr.co.uk
/ Harriet Jackson
Notes to Editors
Personal Group Holdings Plc (AIM: PGH) is a digitally-enabled
employee benefits and services provider. The Group enables
employers across the UK to improve employee engagement and support
their people's physical, mental, social and financial wellbeing.
Its vision is to create a brighter future for the UK workforce.
Personal Group provides health insurance services and a broad
range of employee benefits, engagement and wellbeing products. Many
of these services are delivered through its proprietary app,
Hapi.
The Group's growth strategy is centred around widening the
footprint of the business into the SME, talent-led & Public
Sectors, thereby expanding the addressable customer base. In
addition, it aims to grow in its existing industrial heartlands, to
re-invigorate growth in insurance policyholders and to drive the
use of its SaaS offerings.
Clients include: Arsenal FC, Barchester Healthcare, DHL Supply
Chain Limited, Merseyrail, Randstad, Royal Mail Group, the Sandwell
& Birmingham NHS trust and Stagecoach Group plc. c.40% of
clients are served by two or more group companies.
For further information, please see www.personalgroup.com
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END
DSHBIGDSSSGDGBL
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