TIDMWGB
RNS Number : 0400F
Walker Greenbank PLC
11 November 2020
For immediate release 11 November 2020
WALKER GREENBANK PLC
("Walker Greenbank" or the "Company")
Grant of Awards under LTIP
Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings
group, announces that on 11 November 2020 it granted nil-cost
options (the "Awards") over ordinary shares of 1 pence each in the
Company (the "Shares") to eight persons discharging managerial
responsibilities ("PDMR") under the Walker Greenbank PLC 2015 Long
Term Incentive Plan (the "LTIP").
Details of the Awards are set out below:
Director/ PDMR Number of Shares under Award
on the basis of achieving the
maximum performance targets
Lisa Montague, Chief Executive
Officer 292,500
-------------------------------
Michael Williamson, Chief Financial
Officer 122,757
-------------------------------
Mauricio Solojudin, Global Commercial
Director 68,695
-------------------------------
Nigel Hunt, Global Marketing
& Digital Director 64,338
-------------------------------
Ben Naylor, Group Operations
Director 49,632
-------------------------------
Claire Vallis, Creative Director 57,375
-------------------------------
Carla Barnett, Group HR Director 50,222
-------------------------------
Caroline Geary, Company Secretary 19,538
-------------------------------
To help ensure the participants do not receive potential
windfall gains as a result of the impact of COVID-19, a share price
of 68.0 pence per Share was used when calculating the grant. This
is based on the average share price for the three months prior to 1
March 2020 and for the three months up to 31 October 2020. No
payment was required for the grant of the Awards.
The LTIP was approved by shareholders at the 2015 AGM. The
Awards are subject to the satisfaction of three performance
condition underpins. Two underpins measure the financial
performance of the Company by way of Earnings before Interest and
Tax (EBIT) and Free Cash Flow over a three year period, ending 31
January 2023. The third underpin is a continuous improvement in
sustainability, based on a reduction of carbon footprint and
contribution to the UN Sustainable Development Goals.
The Awards for Lisa Montague and Michael Williamson shall vest
in three tranches as set out below:
Tranche as a percentage Normal Vesting Date
of the Award of each tranche of
the Award
40% 11 November 2023
--------------------
30% 11 November 2024
--------------------
30% 11 November 2025
--------------------
The Awards for the other PDMRs shall vest in three tranches as
set out below
Tranche as a percentage Normal Vesting Date
of the Award of each tranche of
the Award
40% 11 November 2023
--------------------
40% 11 November 2024
--------------------
20% 11 November 2025
--------------------
Further details of the performance measures will be set out in
the Company's 2021 Annual Report and Accounts.
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name Lisa Montague
--------------------------------- ------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------------------- ------------------------------------
b) Initial notification/Amendment Initial notification
--------------------------------- ------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Walker Greenbank PLC
--------------------------------- ------------------------------------
b) LEI 213800A8K2WOUZJIQL93
--------------------------------- ------------------------------------
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 Ordinary Shares of 1 pence each
instrument, type of instrument GB0003061511
Identification code
--------------------------------- ------------------------------------
b) Nature of the transaction Grant of nil cost option award
under the Walker Greenbank PLC
2015 LTIP. The award will vest
three years after the date of
grant subject to the satisfaction
of performance conditions.
--------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 292,500
----------
--------------------------------- ------------------------------------
d) Aggregated information Not applicable - single transaction
--------------------------------- ------------------------------------
e) Date of the transaction 11 November 2020
--------------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- ------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name Michael Williamson
--------------------------------- ------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status 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 Walker Greenbank PLC
--------------------------------- ------------------------------------
b) LEI 213800A8K2WOUZJIQL93
--------------------------------- ------------------------------------
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 Ordinary Shares of 1 pence each
instrument, type of instrument GB0003061511
Identification code
--------------------------------- ------------------------------------
b) Nature of the transaction Grant of nil cost option award
under the Walker Greenbank PLC
2015 LTIP. The award will vest
three years after the date of
grant subject to the satisfaction
of performance conditions.
--------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 122,757
----------
--------------------------------- ------------------------------------
d) Aggregated information Not applicable - single transaction
--------------------------------- ------------------------------------
e) Date of the transaction 11 November 2020
--------------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- ------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name Mauricio Soldujin
--------------------------------- ------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status Global Commercial Director
--------------------------------- ------------------------------------
b) Initial notification/Amendment Initial notification
--------------------------------- ------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Walker Greenbank PLC
--------------------------------- ------------------------------------
b) LEI 213800A8K2WOUZJIQL93
--------------------------------- ------------------------------------
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 Ordinary Shares of 1 pence each
instrument, type of instrument GB0003061511
Identification code
--------------------------------- ------------------------------------
b) Nature of the transaction Grant of nil cost option award
under the Walker Greenbank PLC
2015 LTIP. The award will vest
three years after the date of
grant subject to the satisfaction
of performance conditions.
--------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 68,695
----------
--------------------------------- ------------------------------------
d) Aggregated information Not applicable - single transaction
--------------------------------- ------------------------------------
e) Date of the transaction 11 November 2020
--------------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- ------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
-----------------------------------------------------------------------
a) Name Nigel Hunt
--------------------------------- ------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status Global Marketing & Digital Director
--------------------------------- ------------------------------------
b) Initial notification/Amendment Initial notification
--------------------------------- ------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Walker Greenbank PLC
--------------------------------- ------------------------------------
b) LEI 213800A8K2WOUZJIQL93
--------------------------------- ------------------------------------
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 Ordinary Shares of 1 pence each
instrument, type of instrument GB0003061511
Identification code
--------------------------------- ------------------------------------
b) Nature of the transaction Grant of nil cost option award
under the Walker Greenbank PLC
2015 LTIP. The award will vest
three years after the date of
grant subject to the satisfaction
of performance conditions.
--------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 64,338
----------
--------------------------------- ------------------------------------
d) Aggregated information Not applicable - single transaction
--------------------------------- ------------------------------------
e) Date of the transaction 11 November 2020
--------------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- ------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
-----------------------------------------------------------------------
a) Name Ben Naylor
--------------------------------- ------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status Group Operations Director
--------------------------------- ------------------------------------
b) Initial notification/Amendment Initial notification
--------------------------------- ------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Walker Greenbank PLC
--------------------------------- ------------------------------------
b) LEI 213800A8K2WOUZJIQL93
--------------------------------- ------------------------------------
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 Ordinary Shares of 1 pence each
instrument, type of instrument GB0003061511
Identification code
--------------------------------- ------------------------------------
b) Nature of the transaction Grant of nil cost option award
under the Walker Greenbank PLC
2015 LTIP. The award will vest
three years after the date of
grant subject to the satisfaction
of performance conditions.
--------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 49,632
----------
--------------------------------- ------------------------------------
d) Aggregated information Not applicable - single transaction
--------------------------------- ------------------------------------
e) Date of the transaction 11 November 2020
--------------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- ------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name Claire Vallis
--------------------------------- ------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status Creative Director
--------------------------------- ------------------------------------
b) Initial notification/Amendment Initial notification
--------------------------------- ------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Walker Greenbank PLC
--------------------------------- ------------------------------------
b) LEI 213800A8K2WOUZJIQL93
--------------------------------- ------------------------------------
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 Ordinary Shares of 1 pence each
instrument, type of instrument GB0003061511
Identification code
--------------------------------- ------------------------------------
b) Nature of the transaction Grant of nil cost option award
under the Walker Greenbank PLC
2015 LTIP. The award will vest
three years after the date of
grant subject to the satisfaction
of performance conditions.
--------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 57,375
----------
--------------------------------- ------------------------------------
d) Aggregated information Not applicable - single transaction
--------------------------------- ------------------------------------
e) Date of the transaction 11 November 2020
--------------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- ------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
-----------------------------------------------------------------------
a) Name Carla Barnett
--------------------------------- ------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status Group HR Director
--------------------------------- ------------------------------------
b) Initial notification/Amendment Initial notification
--------------------------------- ------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Walker Greenbank PLC
--------------------------------- ------------------------------------
b) LEI 213800A8K2WOUZJIQL93
--------------------------------- ------------------------------------
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 Ordinary Shares of 1 pence each
instrument, type of instrument GB0003061511
Identification code
--------------------------------- ------------------------------------
b) Nature of the transaction Grant of nil cost option award
under the Walker Greenbank PLC
2015 LTIP. The award will vest
three years after the date of
grant subject to the satisfaction
of performance conditions.
--------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 50,222
----------
--------------------------------- ------------------------------------
d) Aggregated information Not applicable - single transaction
--------------------------------- ------------------------------------
e) Date of the transaction 11 November 2020
--------------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- ------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
-----------------------------------------------------------------------
a) Name Caroline Geary
--------------------------------- ------------------------------------
2. Reason for the notification
-----------------------------------------------------------------------
a) Position/status Company Secretary
--------------------------------- ------------------------------------
b) Initial notification/Amendment Initial notification
--------------------------------- ------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a) Name Walker Greenbank PLC
--------------------------------- ------------------------------------
b) LEI 213800A8K2WOUZJIQL93
--------------------------------- ------------------------------------
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 Ordinary Shares of 1 pence each
instrument, type of instrument GB0003061511
Identification code
--------------------------------- ------------------------------------
b) Nature of the transaction Grant of nil cost option award
under the Walker Greenbank PLC
2015 LTIP. The award will vest
three years after the date of
grant subject to the satisfaction
of performance conditions.
--------------------------------- ------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 19,538
----------
--------------------------------- ------------------------------------
d) Aggregated information Not applicable - single transaction
--------------------------------- ------------------------------------
e) Date of the transaction 11 December 2019
--------------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- ------------------------------------
For further information:
Walker Greenbank PLC +44 (0)1895 221068
Lisa Montague, Chief Executive Officer
Michael Williamson, Chief Financial Officer
Caroline Geary, Company Secretary
Investec Bank plc (Nominated Adviser and
Broker) +44 (0) 20 7597 5970
David Anderson / Alex Wright
Henry Reast
Buchanan +44 (0) 20 7466 5000
Mark Court / Toto Berger / Charlotte Slater
Notes for editors:
About Walker Greenbank
Walker Greenbank PLC is a luxury interior furnishings company
that designs, manufactures and markets wallpapers, fabrics and
paints. In addition, the Company derives significant licensing
income from the use of its designs on a wide range of interior
products such as bed linen, rugs and tableware.
Walker Greenbank's brands include Zoffany, Sanderson, Morris
& Co., Harlequin, Scion, Anthology, Clarke & Clarke and
Studio G.
The Company has a strong UK manufacturing base comprising a
wallpaper factory in Loughborough and a fabric printing factory in
Lancaster. Both factories manufacture for the Company and for other
wallpaper and fabric brands.
Walker Greenbank employs approximately 600 people and its
products are sold in more than 85 countries worldwide. It has
showrooms in London, New York, Chicago, Paris, and Dubai.
Walker Greenbank trades on the AIM market of the London Stock
Exchange under the ticker symbol WGB.
For further information please visit:
www.walkergreenbank.com/
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