Topps Tiles PLC Director/PDMR Shareholding (6322Z)
December 12 2014 - 6:03AM
UK Regulatory
TIDMTPT
RNS Number : 6322Z
Topps Tiles PLC
12 December 2014
Topps Tiles PLC
Director/PDMR Shareholding
12(th) December 2014
Topps Tiles plc. (the "Company")
Notification of Dealings in the Company's shares by Persons
Discharging Managerial Responsibility ("PDMRs") and connected
persons.
The Company announces the following dealings by PDMRs in the
Company's ordinary shares totalling 944200 shares
On 12(th) December 2014 the Company granted awards in the form
of nil cost options ("Awards") in connection with the Topps Tiles
2013 Long Term Incentive Plan ("LTIP") as follows:-
Director/PDMR Number of Shares Date of Award
subject to Awards
----------------- ------------------- ----------------
Matthew Williams 359,159 12(th) December
2014
----------------- ------------------- ----------------
Rob Parker 221,833 12th December
2014
----------------- ------------------- ----------------
Richard Carter 181,604 12th December
2014
----------------- ------------------- ----------------
Brian Linnington 181,604 12th December
2014
----------------- ------------------- ----------------
The number of shares under option was determined using a share
price of 106.00 pence based on 3 days prior to year end
The Awards will vest and become exercisable from the 12th
December 2017 but only to the extent that certain performance
conditions are met including the following adjusted EPS
targets:-
Cumulative Adjusted EPS for Percentage of
the period 2013/2014 to 2016/2017 the Award that
will vest
------------------------------------ -----------------
23.02 pence per Share 25%
------------------------------------ -----------------
Greater than 23.02 pence per Determined on
Share but less than 24.83 pence a straight line
per Shares basis between
25% and 100%
------------------------------------ -----------------
24.83 pence per Share 100%
------------------------------------ -----------------
The above targets equate to adjusted EPS growth from the
2013/2014 outturn of c 7% growth per annum for 25% vesting and c
11% per annum for 100% vesting
Notwithstanding the Cumulative Adjusted EPS calculated above the
extent to which the Award will vest will be subject to the Board's
assessment of the quality of earnings over the performance period.
The Board may reduce the extent to which the Award would otherwise
vest if the Board determines that the Cumulative Adjusted EPS is
not consistent with the achievement of commensurate underlying
financial performance taking into account such factors as the Board
considers appropriate, including:
market share, margin performance, net debt, overall returns to
shareholders; and
shareholder value creation.
The Board may make such adjustments to the method of calculating
Cumulative EPS or any other feature of the terms of the performance
condition as it considers appropriate to take account of:
any increase or variation of the share capital of the
Company;
any change to accounting standards or the reporting of financial
results;
the impact of discontinued businesses on results for any
relevant financial year;
there being no earnings per share of the Company for any
relevant financial year;
any other factors considered by the Board to be relevant.
No consideration is payable on the grant of these Awards.
The above notification is intended to satisfy the Company's
obligations under Disclosure and Transparency Rule 3.1.4.
Stuart Davey
Company Secretary
Topps Tiles plc.
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSGMMMZMZZGDZM
Topps Tiles (LSE:TPT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Topps Tiles (LSE:TPT)
Historical Stock Chart
From Apr 2023 to Apr 2024