Eddie Stobart Logistics PLC Executive LTIP Awards (5789Y)
May 09 2019 - 12:27PM
UK Regulatory
TIDMESL
RNS Number : 5789Y
Eddie Stobart Logistics PLC
09 May 2019
Eddie Stobart Logistics plc
("Eddie Stobart" or the "Company")
Executive LTIP awards - PDMR dealings
Eddie Stobart, a leading UK end-to-end supply chain, transport
and logistics group, announces that under the terms of the
Company's Long Term Incentive Plan (LTIP), awards were granted to
the Executive Directors on 8 May 2019. Awards over 627,533 shares
and 284,264 shares were awarded to Alex Laffey, Chief Executive and
Anoop Kang, Chief Financial Officer, respectively.
Each award gives the holder the right to exercise a nil-cost
option at the end of a three-year period from the date of the
award, subject to the following performance criteria (which apply
by reference to the start of the 2019 financial year):
-- Vesting of 75 per cent of the award is based on achievement
of 10 per cent compound growth in Earnings Per Share per annum
-- Vesting of 25 per cent of the award is based on achievement
of 10 per cent compound growth in Total Shareholder Returns per
annum.
The awards were calculated by reference to the basic salaries of
the executive directors (150 per cent for the Chief Executive and
100 per cent for the Chief Financial Officer) divided by a share
price of 98.5p. It is the Board's intention that, in line with
guidelines issued by investor representative bodies, no more than
10 per cent of the Company's issued share capital will be issued or
committed under employee share-based incentive schemes in the ten
year period from the date of the admission of the Company to
listing on the Alternative Investment Market.
Further information on the terms of the LTIP is included in the
2019 Annual Report and Accounts.
Further inquiries:
Eddie Stobart Logistics plc (0)1925 605400
Alex Laffey, Chief Executive Officer
Anoop Kang, Chief Financial Officer
FTI Consulting (0)20 3727 1340
Nick Hasell / Alex Le May / Matthew O'Keeffe
Cenkos Securities Plc (Nomad & Joint Broker) (0)20 7397 8900
Nicholas Wells / Giles Balleny / Harry
Hargreaves
Berenberg (Joint broker) (0)20 3207 7800
Chris Bowman / Toby Flaux / Laure Fine
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 Alex Laffey
--------------------------------------- --------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------
a) Position/status Chief Executive
--------------------------------------- --------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------
a) Name Eddie Stobart Logistics plc
--------------------------------------- --------------------------------------------
b) LEI 213800N5AWXCFP613J91
--------------------------------------- --------------------------------------------
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 Ordinary Shares of 1 pence each
financial instrument,
type of instrument
Identification code ISIN: GB00BD8QVC95
--------------------------------------- --------------------------------------------
b) Nature of the transaction Grant of nil-cost option over 627,533
ordinary shares under the Company's
long term incentive plan
--------------------------------------- --------------------------------------------
c) Price(s) and volume(s)
-------------------- -------------------
Price(s) Volume(s)
-------------------- -------------------
Nil-cost 627,533
----------------------------------------------------------------- -------------------
d) Aggregated information N/A
- Aggregated volume
- Price
-------------------------------------------------------------- --------------------------
e) Date of the transaction 8 May 2019
--------------------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Anoop Kang
--------------------------------------- --------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------
a) Position/status 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 Eddie Stobart Logistics plc
--------------------------------------- --------------------------------------------
b) LEI 213800N5AWXCFP613J91
--------------------------------------- --------------------------------------------
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 Ordinary Shares of 1 pence each
financial instrument,
type of instrument
Identification code ISIN: GB00BD8QVC95
--------------------------------------- --------------------------------------------
b) Nature of the transaction Grant of nil-cost option over 284,264
ordinary shares under the Company's
long term incentive plan
--------------------------------------- --------------------------------------------
c) Price(s) and volume(s)
-------------------- -------------------
Price(s) Volume(s)
-------------------- -------------------
Nil-cost 284,264
----------------------------------------------------------------- -------------------
d) Aggregated information
- Aggregated volume N/A
- Price
-------------------------------------------------------------- --------------------------
e) Date of the transaction 8 May 2019
--------------------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- --------------------------------------------
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.
END
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