TIDMDFS

RNS Number : 5423B

DFS Furniture PLC

08 October 2020

08 October 2020

DFS Furniture plc

Grant of 2020 Awards under the Long-Term Incentive Plan (the "LTIP")

The Executive Directors of DFS Furniture plc (the "Company") have been granted conditional shares in DFS on 6 October 2020, as part of the Company's Long-Term Incentive Plan.

No consideration was payable for the grant of the awards. Conditional share awards granted under the LTIP will vest after a three year performance period, subject to achievement of the performance measures. The performance measures are based on Adjusted Earnings Per Share ("EPS") and Relative Total Shareholder Return ("TSR").

Details of the conditional share awards under the LTIP are as follows:

 
 Name            Status      Number of conditional shares 
                              awarded 
 Tim Stacey      Director    347,356 
                ----------  ----------------------------- 
 Mike Schmidt    Director    208,413 
                ----------  -----------------------------

After careful consideration, and as a direct impact of the current trading and financial environment, target setting for the LTIP Awards has been delayed until appropriately stretching but realistic targets can be set. In accordance with the Investment Association guidance, targets for the Adjusted EPS and relative Total Shareholder Return measures attaching to these LTIP Awards will be set and disclosed no later than 2nd April 2021. Further details are also provided in the Company's 2020 Annual Report due to be published on 15 October 2020.

Enquiries:

 
 DFS: (enquiries via FTI)                          TULCHAN 
 Tim Stacey (CEO)                                  James Macey-White 
 Mike Schmidt (CFO)                                Jessica Reid 
 LizMcDonald (Group Company                                   Amber Ahluwalia 
  Secretary) 
 Phil Hutchinson (Investor Relations) 
 investor.relations@dfs.co.uk                      dfs@tulchangroup.com

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 
                                         *    A. Tim Stacey 
 
 
                                         *    B. Mike Schmidt 
 2    Reason for the notification 
 a)   Position/status 
                                         *    A. Chief Executive Officer 
 
 
                                         *    B. Chief Financial Officer 
 b)   Initial notification              Initial notification 
       /Amendment 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
 a)   Name                              DFS Furniture plc 
 b)   LEI                               213800GDSOBNKS1U1P93 
 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      Vesting of options to acquire DFS Furniture 
       instrument, type of instrument    plc GBP1.50 ordinary shares 
       Identification code 
                                         ISIN: GB00BTC0LB89 
 b)   Nature of the transaction         Granting of nil cost share options under 
                                         the DFS Furniture plc 2020 Long Term Incentive 
                                         Plan 
 c)   Price(s) and volume(s)                 A. N/A 347,356 
                                              B. N/A 208,413 
 d)   Aggregated information              / 
       - Aggregated volume                A. 347,275 
       - Price                            N/A 
                                           B. 208,413 
                                           . N/A 
 e)   Date of the transaction           6 October 2020 
 f)   Place of the transaction          London

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END

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October 08, 2020 07:27 ET (11:27 GMT)

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