LPA Group PLC Performance Share Plan (2724H)
July 26 2023 - 5:34AM
UK Regulatory
TIDMLPA
RNS Number : 2724H
LPA Group PLC
26 July 2023
26 July 2023
LPA GROUP PLC
("LPA", the "Company" or the "Group")
Performance Share Plan
LPA Group Plc, the high reliability LED lighting, electronic and
electro-mechanical system designer, and manufacturer, announces the
award of share options over ordinary shares in the Company (the
"Share Options") under the LPA Group plc Performance Share Plan
2023 ("PSP 2023") to the following directors ("the Award Holders"),
as follows:
Director Position Number of Exercise Price Total Number
Options of Options
held following
this award
Paul Curtis CEO 130,000 50p 300,000
---------- ---------- --------------- ----------------
Stuart Stanyard CFO 125,000 50p 125,000
---------- ---------- --------------- ----------------
Total Awards 255,000 425,000
---------- --------------- ----------------
Under the terms of the PSP 2023, the Share Options are
exercisable from 26 July 2026 subject to three increasingly
targeted performance hurdles which are related to earnings per
share and market capitalisation. Following vesting there is a one
year holding period (excluding any ordinary shares sold to pay tax
due at exercise). The Share Options are subject to clawback and
malus provisions.
It is the expectation of the Company that the LPA Employee
Benefits Trust (the "EBT") will satisfy the awards when exercised.
In the event that the EBT does not satisfy the awards when
exercised, the Company will do so through an issue of new ordinary
shares to the Award Holders.
As a result of the grant of the Share Options, there are now a
total of 590,000 options over ordinary shares in place for
directors and employees of LPA.
Enquiries:
+44 (0) 1799
LPA Group plc 512 800
Robert B Horvath, Chairman
Paul Curtis, Chief Executive
Officer
Stuart Stanyard, Chief Financial
Officer
+44 (0) 20 7220
finnCap (NOMAD and Broker) 0500
Ed Frisby / Abigail Kelly
(Corporate Finance)
Tim Redfern / Charlotte Sutcliffe
(ECM)
Hudson Sandler (Financial +44 (0) 20 7796 lpagroup@hudsonsandler.com
PR) 4133
Dan de Belder
Nick Moore
Harry Griffiths
About LPA
LPA Group plc (AIM: LPA) is a market leading designer,
manufacturer and supplier of high reliability LED lighting,
electronic and electro-mechanical systems, and a distributor of
engineered components.
Focused on transport (rail and aviation), defence,
infrastructure and industrial markets and supplying into hostile
and challenging environments, LPA is known for engineering
solutions to improve product reliability, reducing maintenance and
life cycle costs.
The Group has three sites across the UK, selling to customers in
the UK and overseas. Two of these are design and manufacturing
sites: LPA Connection Systems - electro-mechanical systems for
rail, aviation and industrial, and LPA Lighting Systems - LED
lighting and electronic systems for rail and infrastructure. The
third site is LPA Channel Electric - a value added distributer of
engineered components for rail, aerospace and defence.
With over 160 years of UK design and manufacture, and with
origins in the first ever light installed in 'Electric Avenue',
Brixton; innovation is core to LPA and to the products and services
supplied to our customers worldwide.
For more information visit www.lpa-group.com
The information below (set out in accordance with the
requirements of EU Market Abuse Regulation) provides further
detail:
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Paul Curtis
-------------------------------------- ----------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status CEO
-------------------------------------- ----------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------------------- ----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name LPA Group plc
-------------------------------------- ----------------------------------
b) LEI 2138007S67YLDN6CEF21
-------------------------------------- ----------------------------------
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 Ordinary shares of 10p each
of the financial GB0007320806
instrument,
type of instrument
Identification
code
-------------------------------------- ----------------------------------
b) Nature of the Issue of Options
transaction
-------------------------------------- ----------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s)
-------------------------------------- --------------- -----------------
50p 130,000
------------------------------------------- --------------- -----------------
d) Aggregated N/A
information
- Aggregated
volume
- Price
-------------------------------------- ----------------------------------
e) Date of the 26 July 2023
transaction
-------------------------------------- ----------------------------------
f) Place of the Outside a trading venue
transaction
-------------------------------------- ----------------------------------
g) Additional N/A
Information
-------------------------------------- ----------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Stuart Stanyard
-------------------------------------- ----------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status CFO
-------------------------------------- ----------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------------------- ----------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name LPA Group plc
-------------------------------------- ----------------------------------
b) LEI 2138007S67YLDN6CEF21
-------------------------------------- ----------------------------------
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 Ordinary shares of 10p each
of the financial GB0007320806
instrument,
type of instrument
Identification
code
-------------------------------------- ----------------------------------
b) Nature of the Issue of Options
transaction
-------------------------------------- ----------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s)
-------------------------------------- --------------- -----------------
50p 125,000
------------------------------------------- --------------- -----------------
d) Aggregated N/A
information
- Aggregated
volume
- Price
-------------------------------------- ----------------------------------
e) Date of the 26 July 2023
transaction
-------------------------------------- ----------------------------------
f) Place of the Outside a trading venue
transaction
-------------------------------------- ----------------------------------
g) Additional N/A
Information
-------------------------------------- ----------------------------------
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