Property Franchise Group PLC (The) Grant of Options (3060V)
August 09 2022 - 2:00AM
UK Regulatory
TIDMTPFG
RNS Number : 3060V
Property Franchise Group PLC (The)
09 August 2022
9 August 2022
THE PROPERTY FRANCHISE GROUP PLC
(the "Company" or the "Group")
Grant of Options
The Property Franchise Group PLC, the UK's largest property
franchisor, today announces that it has granted nominal cost
options over 465,000 ordinary shares in the Company to its Chief
Executive Officer, Chief Financial Officer and members of its
senior management team under the TPFG Share Option Plan. These
awards recognise each of their roles and responsibilities in
developing and implementing the Company's strategic plans and are
designed to continue to incentivise them appropriately.
The awards will be subject to two performance conditions;
adjusted basic earnings per share adjusted for exceptional
income/costs, amortisation arising on consolidation and share-based
payment charges ("adjusted EPS") and total shareholder return
("TSR") over the 3 years to 31 December 2024. Each performance
condition will apply to 50% of the awards being made.
In respect of both performance conditions, growth of 20% over
the three-year period will be required for threshold vesting of the
awards (the "floor"), with growth of 42% or higher in both
performance measures required for all of the awards to vest (the
"cap"). Straight-line vesting applies between the floor and the
cap.
The maximum awards for directors and PDMRs are stated below:
Name Position Number of shares
subject to awards
Gareth Samples Chief Executive Officer 175,000
------------------------------ -------------------
David Raggett Chief Financial Officer 115,000
------------------------------ -------------------
Group Marketing & Commercial
Kate Randall Director 22,000
------------------------------ -------------------
Nick Neill Managing Director of EweMove 22,000
------------------------------ -------------------
Immediately prior to these awards the Company's issued share
capital was 32,041,966 ordinary shares and it had outstanding
awards granted under prior incentive schemes of 1,825,500 ordinary
shares.
The grant of the awards constitutes a related party transaction
for the purposes of AIM Rule 13. The independent directors
consider, having consulted with the Company's nominated adviser,
that the terms of the transaction are fair and reasonable insofar
as its shareholders are concerned.
Further detail is provided below in accordance with Article 19.3
of the EU Market Abuse Regulation.
Details of the person discharging managerial responsibilities/person
1 closely associated.
--------------------------------------------------------------------------------------------------------
a) Name: Gareth Samples David Raggett
------------------------------ ---------------------- ---------- ---------------------------------
2 Reason for notification.
-------------------------------- ---------------------- ---------- --------------------- ----------
a) Position/Status: Chief Executive Chief Financial Officer
------------------------------- ---------------------------------- ---------------------------------
b) Initial Notification/Amendment: Initial Notification Initial Notification
-------------------------------- ---------------------------------- ---------------------------------
Details of the issuer, emission allowance market participation,
3 auction platform,
auctioneer or
auction monitor.
-------------------------------- ---------------------- ---------- --------------------- ----------
a) Name: The Property Franchise The Property Franchise
Group PLC Group PLC
------------------------------ ---------------------------------- ---------------------------------
b) LEI: 2138008J5PTJ8C77I535 2138008J5PTJ8C77I535
------------------------------ ---------------------- ---------- --------------------- ----------
Details of transaction(s);section to berepeated for (i) each
4 type of instrument; (ii) each type
of transaction; (iii) each date; and (iv) each place where transactions
have been conducted.
--------------------------------------------------------------------------------------------------------
a) Description of Ordinary Shares of Ordinary Shares of
the financial
instrument:
1p each 1peach
Identification ISIN: GB00BH0WFH67 ISIN: GB00BH0WFH67
code:
------------------------------- ---------------------------------- ---------------------------------
b) Nature of transaction: Grant of nil cost options Grant of nil cost options
over Company's shares over Company's shares
------------------------------ ---------------------------------- ---------------------------------
c) Price(s) and Price(s) Volume(s) Price(s) Volume(s)
volume(s)
---------- ----------
1p each 175,000 1p each 115,000
---------- ----------
d) Aggregatted n/a n/a
volume:
Price: n/a n/a
--------------------------------- ------------------------ ---------- --------------------- ----------
e) Date of Transaction: 9 August 2022 9 August 2022
------------------------------- ---------------------------------- ---------------------------------
f) Place of the Outside a trading venue Outside a trading venue
Transaction
-------------------------------- ---------------------------------- ---------------------------------
Details of the person discharging managerial responsibilities/person
1 closely associated.
--------------------------------------------------------------------------------------------------------
a) Name: Kate Randall Nick Neill
------------------------------ ---------------------- ---------- ---------------------------------
2 Reason for notification.
-------------------------------- ---------------------- ---------- --------------------- ----------
a) Position/Status: Group Marketing & Commercial Managing Director of
Director EweMove
------------------------------- ---------------------------------- ---------------------------------
b) Initial Notification/Amendment: Initial Notification Initial Notification
-------------------------------- ---------------------------------- ---------------------------------
Details of the issuer, emission allowance market participation,
3 auction platform,
auctioneer or
auction monitor.
-------------------------------- ---------------------- ---------- --------------------- ----------
a) Name: The Property Franchise The Property Franchise
Group PLC Group PLC
------------------------------ ---------------------------------- ---------------------------------
b) LEI: 2138008J5PTJ8C77I535 2138008J5PTJ8C77I535
------------------------------ ---------------------- ---------- --------------------- ----------
Details of transaction(s);section to berepeated for (i) each
4 type of instrument; (ii) each type
of transaction; (iii) each date; and (iv) each place where transactions
have been conducted.
--------------------------------------------------------------------------------------------------------
a) Description of Ordinary Shares of Ordinary Shares of
the financial
instrument:
1p each 1peach
Identification ISIN: GB00BH0WFH67 ISIN: GB00BH0WFH67
code:
------------------------------- ---------------------------------- ---------------------------------
b) Nature of transaction: Grant of nil cost options Grant of nil cost options
over Company's shares over Company's shares
------------------------------ ---------------------------------- ---------------------------------
c) Price(s) and Price(s) Volume(s) Price(s) Volume(s)
volume(s)
---------- ----------
1p each 22,000 1p each 22,000
---------- ----------
d) Aggregatted n/a n/a
volume:
Price: n/a n/a
--------------------------------- ------------------------ ---------- --------------------- ----------
e) Date of Transaction: 9 August 2022 9 August 2022
------------------------------- ---------------------------------- ---------------------------------
f) Place of the Outside a trading venue Outside a trading venue
Transaction
-------------------------------- ---------------------------------- ---------------------------------
For further information, please contact:
The Property Franchise Group PLC
Gareth Samples, Chief Executive Officer
David Raggett, Chief Financial Officer 01202 405549
Canaccord Genuity Limited (Nominated
Adviser and Broker)
Max Hartley
Tom Diehl 0207 523 8000
Alma PR
Susie Hudson
Justine James
Joe Pederzolli 0203 405 0209
About The Property Franchise Group PLC:
The Property Franchise Group PLC (AIM: TPFG) is the largest
property franchisor in the UK and manages the second largest estate
agency network and portfolio of lettings properties in the UK.
The Company was founded in 1986 and has since grown to a diverse
portfolio of nine brands operating throughout the UK, comprising
longstanding high-street focused brands and a hybrid, no sale no
fee agency.
The Property Franchise Group's brands are Martin & Co,
EweMove, Hunters, CJ Hole, Ellis & Co, Parkers, Whitegates,
Mullucks & Country Properties.
Headquartered in Bournemouth, UK, the Company was listed on AIM
on the London Stock Exchange in 2013. More information is available
at www.propertyfranchise.co.uk
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHBSGDIXSGDGDI
(END) Dow Jones Newswires
August 09, 2022 02:00 ET (06:00 GMT)
Property Franchise (LSE:TPFG)
Historical Stock Chart
From Apr 2024 to May 2024
Property Franchise (LSE:TPFG)
Historical Stock Chart
From May 2023 to May 2024