13 August 2024
Strip
Tinning Holdings plc
("Strip
Tinning" or the "Company")
Grant of Options under 2022 Performance
Share Plan
Director/PDMR Dealing
Strip Tinning Holdings plc (AIM: STG), a
leading supplier of specialist connection systems to the automotive
sector, announces that, under the terms of the Company's 2022
Performance Share Plan (the "PSP")[1], the
Board has granted nominal cost options
(the "Options") over 520,000 ordinary shares of 1 pence each in the
Company ("Ordinary Shares") to certain Directors and persons
discharging managerial responsibilities ("PDMRs"), as set out
below.
The Board believes it is key that the Company
retains and incentivises its senior
executive team to drive the business
forward and align their interests with those of shareholders. This
forms the basis for the grant of the Options.
The Options will vest
subject to the Company achieving certain financial performance
criteria for the financial year ending 31 December 2026. The
financial performance criteria are based on the Group as a whole,
with the Options awarded subject to
achieving total shareholder return hurdles. The Remuneration
Committee of the Board has discretion to amend these terms to take
account of, for example, corporate activities such as acquisitions,
to ensure that the performance targets remain
appropriate.
The Options will vest following the assessment
by the Remuneration Committee of the Board of the extent to which
the applicable financial performance criteria have been met by
reference to the Company's audited financial results for the
financial year ending 31 December 2026. Such assessment by the
Remuneration Committee of the Board, and the date on which the
Options will vest is expected to be in Q1 of 2027.
The Options awarded to PDMRs are set out in the
table below.
|
Director/
PDMR
|
Position
|
Options granted
|
|
Adam Robson
|
Executive Chair
|
200,000
|
|
Mark Perrins
|
CEO
|
200,000
|
|
Kevin Edwards
|
CFO
|
120,000
|
Enquiries:
Strip Tinning
Holdings plc
Adam Robson, Executive Chair
Via Alma PR
Mark Perrins, Chief Executive
Officer
Singer Capital
Markets (Nominated Adviser and Sole
Broker)
+44 (0) 20 7496 3000
Rick Thompson
James Fischer
Alma
(Financial
PR)
striptinning@almastrategic.com
Josh Royston
+44 (0) 20 3405 0205
Joe Pederzolli
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
1. Adam
Robson
2.
Mark Perrins
3.
Kevn Edwards
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
1.
Executive Chairman
2.
Chief Executive Officer
3.
Chief Financial Officer
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
Strip Tinning Holdings plc
|
|
b)
|
LEI
|
894500GS6N5D41R6H966
|
|
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
instrument, type of instrument
|
Ordinary Shares of 1 pence
each
|
|
|
|
|
Identification code
|
ISIN: GB00BMHN9M05
|
|
|
|
|
b)
|
Nature of the transaction
|
Grant of options
|
|
c)
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
1. Nil
|
200,000
|
|
|
|
|
2. Nil
|
200,000
|
|
|
|
|
3. Nil
|
120,000
|
|
|
|
|
|
|
|
|
d)
|
Aggregated information
|
|
|
|
|
|
- Aggregated volume
|
N/A - single transaction
|
|
|
|
|
- Price
|
|
|
|
|
|
e)
|
Date of the transaction
|
12 August 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|