THG PLC Grant of Share Options
March 07 2024 - 11:15AM
RNS Regulatory News
RNS Number : 0565G
THG PLC
07 March 2024
7 March 2024
THG PLC
("THG" or the
"Company")
Grant of Share
Options
The Company announces that on 7
March 2024 it made awards of nil cost options over ordinary voting
shares of £0.005 each in the Company ("Awards" and "Shares") to certain directors and
persons discharging managerial responsibility ("PDMRs") of the Company, under the rules
of the THG PLC 2022 Long Term Incentive Plan (the "Plan").
The Awards have been granted over
the number of Shares shown below. The Awards will vest on the third
anniversary of the date of grant, subject to the rules of the Plan
and the achievement of stretching performance targets as summarised
below.
The details of the Awards are as
follows:
|
PDMR
|
Title
|
Number of Shares subject to
Award
|
|
Damian Sanders
|
Chief Financial Officer
|
1,939,788
|
|
John Gallemore
|
Chief Operating Officer
|
1,745,810
|
A summary of the performance targets
is below:
|
Measure
|
Target
details
|
|
Relative TSR vs FTSE 250 Index (80%
weighting)
|
Threshold (25% vesting):
median
Maximum (100% vesting): upper
quartile
Straight-line vesting between these
points
|
|
Achievement of our ESG strategy (20%
weighting)
|
By end of 2026, THG operational
sites to achieve Zero Waste TRUE Gold Certification
|
In addition, the Company shortly
intends to make an application for 30,629,135 Shares to be
admitted to trading on the London Stock Exchange and to be admitted
to the Financial Conduct Authority's Official List. These
Shares will be issued to VG Corporate Trustee Limited, acting as
trustee of the THG Employee Benefit Trust. Consistent with
the Company's strong track record of incentivising employees, and
in order to continue to attract and retain world-class talent,
these Shares will be used to make awards to certain key employees
below Executive level, which will be subject to the achievement of
various targets. Subject to the satisfaction of such targets,
a third of these Shares are expected to vest on each of 31 December
2024, 2025 and 2026. A separate announcement will follow in
due course once such application has been made.
The Company makes the below
announcement and notification in accordance with the requirements
of the UK Market Abuse Regulation.
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
|
Damian Sanders
|
|
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
|
THG PLC
|
|
b)
|
LEI
|
21380066N3SV9O8IDP37
|
|
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
Identification code
|
Ordinary shares of £0.005
each
ISIN Code: GB00BMTV7393
|
|
b)
|
Nature of the transaction
|
Grant of a nil-cost option under the
THG PLC 2022 Long Term Incentive Plan
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
nil
|
1,939,788
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - Single
transaction
|
|
e)
|
Date of the transaction
|
7 March 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
John Gallemore
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Chief Operating Officer
|
|
b)
|
Initial notification
/Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
THG PLC
|
|
b)
|
LEI
|
21380066N3SV9O8IDP37
|
|
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
Identification code
|
Ordinary shares of £0.005
each
ISIN Code: GB00BMTV7393
|
|
b)
|
Nature of the transaction
|
Grant of a nil-cost option under the
THG PLC 2022 Long Term Incentive Plan
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
nil
|
1,745,810
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/A - Single
transaction
|
|
e)
|
Date of the transaction
|
7 March 2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
Enquiries to:
James Pochin, General Counsel and
Company Secretary
THG PLC
James.Pochin@thehutgroup.com
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