9 August 2024
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 1,195,000 ordinary shares in the Company to certain executive directors
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; total shareholder return ("TSR") and
adjusted basic earnings per share adjusted for exceptional
income/costs, amortisation arising on consolidation and share-based
payment charges ("adjusted EPS") over the 3 years to 31 December
2026. Each performance condition will apply to 50% of the awards
being made. All participants will be
subject to a lock-in of 12 months following
vesting.
In respect of the TSR, the award
will be subject to absolute TSR growth of 45% to achieve threshold
vesting (at which point 25% of this portion of the award will
vest), which corresponds to 13.2% compound annual growth rate
("CAGR"), rising to full vesting at 85% growth over the period
which corresponds to 22.8% CAGR.
In respect of adjusted EPS, the
award will be subject to adjusted EPS growth of 40% over the period
to achieve threshold vesting (25% vesting), which corresponds to
11.9% CAGR, rising to full vesting at 60% growth over the period,
which corresponds to 17.0% CAGR.
Straight-line vesting applies
between the thresholds.
The maximum awards for directors are
stated below:
|
Name
|
Position
|
Number of shares subject to awards
|
|
Gareth Samples
|
Chief Executive Officer
|
500,000
|
|
Michelle Brook
|
Executive Director
|
100,000
|
In addition, the Company has granted
CSOP options over a total of 220,000 ordinary shares to senior
management and further key employees under the Company's CSOP
scheme.
Immediately prior to these awards
the Company's issued share capital was 63,752,008
ordinary shares and it had outstanding awards
granted under prior incentive schemes of 676,952
ordinary shares.
Further detail is provided below in
accordance with Article 19.3 of the EU Market Abuse
Regulation.
|
1
|
Details of the
person discharging managerial responsibilities/person closely
associated.
|
|
a)
|
Name:
|
|
|
|
Gareth Samples
|
|
|
Michelle Brook
|
|
2
|
Reason for
notification.
|
|
|
|
|
|
|
|
a)
|
Position/Status:
|
|
|
Chief Executive
|
|
Executive Director
|
|
b)
|
Initial Notification/Amendment:
|
|
Initial Notification
|
|
Initial Notification
|
|
3
|
Details of the
issuer, emission allowance market participation, auction
platform,
|
|
|
auctioneer or
auction monitor.
|
|
|
|
|
|
|
|
a)
|
Name:
|
|
|
|
The Property Franchise Group PLC
|
|
The Property Franchise Group PLC
|
|
b)
|
LEI:
|
|
|
|
2138008J5PTJ8C77I535
|
|
|
2138008J5PTJ8C77I535
|
|
|
4
|
Details of
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:
|
Ordinary Shares of
|
|
Ordinary Shares of
|
|
|
|
|
|
|
1p each
|
|
1peach
|
|
|
Identification code:
|
|
|
ISIN: GB00BH0WFH67
|
|
ISIN: GB00BH0WFH67
|
|
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 volume(s)
|
|
Price(s)
|
Volume(s)
|
|
Price(s)
|
Volume(s)
|
|
|
|
|
|
|
1p each
|
500,000
|
|
1p each
|
100,000
|
|
d)
|
Aggregated volume:
|
|
|
n/a
|
|
|
n/a
|
|
|
|
Price:
|
|
|
|
n/a
|
|
|
n/a
|
|
|
e)
|
Date of Transaction:
|
|
|
9 August 2024
|
|
9 August 2024
|
|
f)
|
Place of the Transaction
|
|
Outside a trading venue
|
|
Outside a trading venue
|
For
further information, please contact:
|
The
Property Franchise Group PLC
Gareth Samples, Chief Executive
Officer
David Raggett, Chief Financial
Officer
|
01202 405 549
|
|
|
Canaccord Genuity Limited (Nominated Adviser and Joint Broker)
Max Hartley
Harry Rees
|
020 7523 8000
|
|
|
|
|
|
|
Singer Capital Markets (Joint Broker)
Rick Thompson
James Fischer
|
020 7496 3000
|
|
|
Alma Strategic Communications
Justine James
Joe Pederzolli
Kinvara Verdon
|
020 3405 0209
propertyfranchise@almastrategic.com
|
|
|
|
|
|
About The Property Franchise Group PLC:
The Property Franchise Group PLC
(AIM: TPFG) is the UK's largest multi-brand property
franchisor, with a network of over 1,900 outlets delivering high
quality services to residential clients, combined with an
established Financial Services business.
The Company was founded in 1986 and
has since strategically grown to a diverse portfolio of 18 brands
operating throughout the UK, comprising longstanding
high-street focused brands and two hybrid brands. The Property
Franchise Group is also a member of two leading mortgage networks
through its mortgage brokers, Brook Financial (MAB) and The
Mortgage Genie (Primis).
The Property Franchise Group PLC's
brands are: Belvoir, CJ Hole, Country Properties, Ellis & Co,
EweMove, Fine & Country, Hunters, Lovelle, Martin & Co, Mr
and Mrs Clarke, Mullucks, Newton Fallowell, Nicholas Humphreys,
Northwood, Parkers, The Guild of Property Professionals and
Whitegates and Mortgage Genie.
Headquartered in Bournemouth,
the Company was listed on AIM on the London Stock Exchange in 2013
and entered the AIM 100 in July 2024.
More information is available
at www.propertyfranchise.co.uk