Springfield Properties PLC Grant of performance share awards (0097E)
November 02 2020 - 11:26AM
UK Regulatory
TIDMSPR
RNS Number : 0097E
Springfield Properties PLC
02 November 2020
2 November 2020
Springfield Properties plc
("Springfield" or the "Company")
Grant of performance share awards
Springfield Properties plc (AIM: SPR), a leading housebuilder in
Scotland offering private and affordable housing, announces that,
on 30 October 2020, the Company granted awards over ordinary shares
of 0.125 pence each in the capital of the Company ("Awards") to
certain PDMRs, pursuant to the Company's Performance Share Plan
(the "PSP") that was originally established in January 2020.
Details of these Awards are set out below:
Name Role No. of Shares over which
Awards granted
Chief Executive
Innes Smith Officer 202,000
------------------ -------------------------
Michelle Motion Finance Director 107,650
------------------ -------------------------
No consideration was paid for the grant of the Awards, which
have been structured as "nominal cost" options.
The Awards will normally vest on the third anniversary of grant
but only if, and to the extent that, certain performance conditions
are satisfied. These conditions (which have been set by the
Remuneration Committee of the Company and will be assessed over a
total of three financial years) relate to the achievement of
specified targets applicable to earnings per share (75% weighting)
and the Company's net debt / EBITDA ratio (25% weighting). Vesting
will also normally be dependent on the continued employment of the
participant within the Company's group.
Once the Awards have vested, they will generally be available to
be exercised until the tenth anniversary of their original grant.
On any such exercise, additional "dividend equivalent" entitlements
may also be paid to the relevant individuals.
Further information about the overall structure of the PSP was
included in the Company's annual report and financial statements
for the financial year ended 31 May 2020.
Enquiries:
Springfield Properties
Sandy Adam, Chairman
Innes Smith, Chief Executive Officer +44 1343 552550
-----------------
N+1 Singer
-----------------
Shaun Dobson, James Moat (Corporate
Finance)
Rachel Hayes (Corporate Broking) +44 20 7496 3000
-----------------
Luther Pendragon
-----------------
Harry Chathli, Claire Norbury, Alexis
Gore, Joe Quinlan +44 20 7618 9100
-----------------
The following notifications are intended to satisfy the
Company's obligations under Article 19(3) of EU Regulation No
596/2014 (the Market Abuse Regulation).
1 Details of the person discharging managerial responsibilities/person
closely associated
------------------------------------------------------------------------------
a) Name 1. Innes Smith
2. Michelle Motion
---- -------------------------- --------------------------------------------------
2 Reason for the notification
---- ------------------------------------------------------------------------------
a) Position/status 1. Chief Executive Officer
2. Finance Director
---- -------------------------- --------------------------------------------------
b) Initial notification/ Initial Notification
Amendment
---- -------------------------- --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---- ------------------------------------------------------------------------------
a) Name Springfield Properties plc
---- -------------------------- --------------------------------------------------
b) LEI 21380026UDE3LKFSDP68
---- -------------------------- --------------------------------------------------
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 Ordinary shares of 0.125 pence each ("Shares")
the financial
instrument, type
of instrument
----
Identification GB00BF1QPG26
code
---- -------------------------- --------------------------------------------------
b) Nature of the Grant of awards (in the form of nominal cost
transaction options) over Shares pursuant to the Springfield
Properties plc Performance Share Plan
---- -------------------------- --------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------
0.125 pence (exercise
1. price) 202,000
--- ---------------------- ----------
0.125 pence (exercise
2. price) 107,650
--- ---------------------- ----------
---- -------------------------- --------------------------------------------------
d) Aggregated information
* Aggregated volume 1. N/A single transaction
2. N/A single transaction
* Price
---- -------------------------- --------------------------------------------------
e) Date of the transaction 2020-10-30
---- -------------------------- --------------------------------------------------
f) Place of the transaction Off market
---- -------------------------- --------------------------------------------------
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END
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