TIDMHILS

RNS Number : 3437F

Hill & Smith Hldgs PLC

16 May 2017

16 May 2017

Hill & Smith Holdings PLC

Announcement of grant of awards under the rules of the

2014 Long Term Incentive Plan and the 2014 Executive Share Option Scheme

Notification under paragraphs 3.1.2R to 3.1.4R of the Disclosure and Transparency Rules

LTIP Award - 16 May 2017

On 16 May 2017 the Board of Hill & Smith Holdings PLC ('Hill & Smith' or the 'Company') approved the grant of awards in the form of nil-cost options over ordinary shares in the Company in accordance with the provisions of the Hill & Smith Holdings 2014 Long Term Incentive Plan (the 'LTIP').

Mr D W Muir has been granted a nil cost option over 46,863 ordinary shares and Mr M Pegler has been granted a nil-cost option over 32,804 ordinary shares.

The awards were based on a share price of 1,315.0p, being the average of the mid-market prices for the three trading days prior to the grant date of 16 May 2017.

Both Mr Muir and Mr Pegler were also granted an award in the form of a tax qualifying option, in accordance with the provisions of the Hill & Smith Holdings 2014 Executive Share Option Scheme (the 'ESOS'), over 2,281 ordinary shares with an exercise price of 1,315.0p per ordinary share on terms which are similar to the awards under the LTIP (together the 'Awards'). If the options under the ESOS are exercised at a gain, the LTIP awards will be reduced by the same value to ensure that the combined pre-tax value delivered to participants remains the same as that for the maximum permitted award under the LTIP.

Under the rules of the LTIP, the ESOS and the Company's Remuneration Policy, the vesting of the Awards is subject to the achievement of set performance conditions which are based upon the growth in the Company's underlying earnings per share and its total shareholder return, over the three year period commencing on 1 January 2017 (the 'Vesting Period'). The awards will, (subject to the achievement of the performance conditions), vest following the end of the Vesting Period.

Following the grant of these Awards, Mr Muir and Mr Pegler have the following interests in the Company's shares:

 
 Individual     Number of shares   Total number of shares 
                 in which there      awarded or subject 
                 is a beneficial    to options under the 
                    interest         LTIP, ESOS and SAYE 
                                           Scheme 
-------------  -----------------  ----------------------- 
 Mr D W Muir        292,893               183,883 
-------------  -----------------  ----------------------- 
 Mr M Pegler         50,032               123,400 
-------------  -----------------  ----------------------- 
 
 
 1.    Details of the person discharging managerial 
        responsibilities/person closely associated 
----  ------------------------------------------------------------- 
 (a)   Name                          i. Mr D W Muir 
                                      ii. Mr M Pegler 
----  -------------------------  ---------------------------------- 
 2.    Reason for the notification 
----  ------------------------------------------------------------- 
 (a)   Position/status               i. Chief Executive Officer 
                                      ii. Group Finance Director 
----  -------------------------  ---------------------------------- 
 (b)   Initial notification/      Initial notification 
        Amendment 
----  -------------------------  ---------------------------------- 
 3.    Details of the issuer 
----  ------------------------------------------------------------- 
 (a)   Name                       Hill & Smith Holdings PLC 
----  -------------------------  ---------------------------------- 
 (b)   LEI                         2138003A3ISGQZBOWI83 
----  -------------------------  ---------------------------------- 
 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                Ordinary shares of GBP0.25 each 
        of the Financial 
        Instrument 
----  -------------------------  ---------------------------------- 
 (b)   Identification             GB0004270301 
        code of the 
        Financial Instrument 
----  -------------------------  ---------------------------------- 
 (c)   Nature of the              Grant of awards 
        transaction 
----  -------------------------  ---------------------------------- 
 (d)   Price(s) and               Price(s)        Volume(s) 
        volume(s) 
                                 --------------  ------------------ 
                                  i. Nil          i. 46,863 
                                   ii. Nil         ii. 32,804 
                                 --------------  ------------------ 
 (e)   Aggregated                  79,667 shares 
        information                 Nil Cost 
         *    Aggregated volume 
 
 
        - Price 
----  -------------------------  ---------------------------------- 
 (f)   Date of the                16 May 2017 
        transaction 
----  -------------------------  ---------------------------------- 
 (g)   Place of the               London Stock Exchange 
        transaction 
----  -------------------------  ----------------------------------

Enquiries:

Alex Henderson

Company Secretary

Tel: +44 (0) 121 704 7430

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHLLFLREVIRLID

(END) Dow Jones Newswires

May 16, 2017 12:13 ET (16:13 GMT)

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