Springfield Properties PLC Grant of performance share awards (0423S)
01 Novembre 2023 - 10:44AM
UK Regulatory
TIDMSPR
RNS Number : 0423S
Springfield Properties PLC
01 November 2023
1 November 2023
Springfield Properties plc
("Springfield" or the "Company")
Grant of performance share awards
Springfield Properties plc (AIM: SPR), a leading housebuilder in
Scotland focused on delivering private and affordable housing,
announces that, on 30 October 2023, the Company granted awards over
ordinary shares of 0.125 pence each in the capital of the Company
("Awards") to certain PDMRs, pursuant to the Company's Performance
Share Plan (the "PSP") that was originally established in January
2020. Details of these Awards are set out below:
Name Role No. of shares over which
Awards granted
Chief Executive
Innes Smith Officer 427,995
----------------- -------------------------
Chief Financial
Iain Logan Officer 225,849
----------------- -------------------------
No consideration was paid for the grant of the Awards, which
have been structured as "nominal cost" options.
The Awards will normally vest on the third anniversary of grant
but only if, and to the extent that, certain performance conditions
are satisfied. These conditions (which have been set by the
Remuneration Committee of the Company and will be assessed
following the end of the financial year to 31 May 2026) relate to
the achievement of specified targets applicable to earnings per
share (75% weighting) and the Company's net debt / total assets
gearing (25% weighting). Vesting will also normally be dependent on
the continued employment of the participant within the Company's
group.
Once the Awards have vested, they will generally be available to
be exercised until the tenth anniversary of their original grant.
On any such exercise, additional "dividend equivalent" entitlements
may also be paid to the relevant individuals.
Further information about the overall structure of the PSP can
be found in the Company's annual report and financial
statements.
Enquiries
Springfield Properties
Sandy Adam, Chairman
Innes Smith, Chief Executive Officer
Iain Logan, Chief Financial Officer +44 1343 552550
Singer Capital Markets
Shaun Dobson, James Moat, Oliver Platts +44 20 7496 3000
Gracechurch Group
Harry Chathli, Claire Norbury +44 20 4582 3500
Analyst Research
Equity Development and Progressive Equity produce freely
available research on Springfield Properties plc, including
financial forecasts. This is available to view and download
here:
https://www.thespringfieldgroup.co.uk/news/updates-and-analyst-reports
The following notifications are intended to satisfy the
Company's obligations under Article 19(3) of EU Regulation No
596/2014 as it forms part of domestic law by virtue of the European
Union (Withdrawal) Act 2018.
1 Details of the person discharging managerial responsibilities/person
closely associated
----------------------------------------------------------------------------------------------------------------
a) Name 1. Innes Smith
2. Iain Logan
---- ------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
---- ----------------------------------------------------------------------------------------------------------------
a) Position/status 1. Chief Executive Officer
2. 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 Springfield Properties plc
---- ------------------------------------------------------- -------------------------------------------------------
b) LEI 21380026UDE3LKFSDP68
---- ------------------------------------------------------- -------------------------------------------------------
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 Ordinary shares of 0.125 pence each ("Shares")
instrument
----
Identification code GB00BF1QPG26
---- ------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of awards (in the form of nominal cost options)
over Shares pursuant to the Springfield
Properties plc Performance Share Plan
---- ------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------
1. 0.125 pence (exercise price) 427,995
--- ----------------------------- ----------
2. 0.125 pence (exercise price) 225,849
--- ----------------------------- ----------
---- ------------------------------------------------------- -------------------------------------------------------
d) Aggregated information
* Aggregated volume 1. N/A single transaction
2. N/A single transaction
* Price
---- ------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2023-10-30
---- ------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Off market
---- ------------------------------------------------------- -------------------------------------------------------
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END
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November 01, 2023 05:44 ET (09:44 GMT)
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