TIDMPGH
RNS Number : 3640D
Personal Group Holdings PLC
21 June 2023
Press Release 21 June 2023
Personal Group Holdings Plc
("the Company" or "the Group")
Grant of LTIP & CSOP options
Personal Group Holdings Plc (AIM: PGH), the workforce benefits
and services provider, announces the grant of options under the
Personal Group Holdings Plc 2023 issuance of the Long Term
Incentive Plan (the "LTIP") and the Company's HMRC approved Company
Share Option Plan ("CSOP ") as detailed below.
LTIP Awards
A total of 367,384 share awards have been granted under the
LTIP. These are in the form of an option over ordinary shares in
the Company and vest subject to the achievement of certain
performance criteria and have a nominal value exercise price of
GBP0.05 per share (the "LTIP Awards").
The vesting of the Awards is subject to the satisfaction of
performance conditions assessed over the three financial years
ending 31 December 2025. Once vested, the options may be exercised
at any time until the tenth anniversary of the Award date. The
Awards are subject to claw back and malus provisions.
Performance conditions
The Awards are subject to attainment of targets over three
areas:
Attainment % of Awards Measurement Number of Awards that vest
target subject Period if Attainment Target is satisfied
to Attainment
Target
Total Shareholder 42.5% 1 January 12.5% of the overall award
Return ("TSR") 2023 to will vest at achievement of
31 December threshold target with 42.5%
2025 vesting at maximum target
and a linear sliding scale
between 12.5% - 42.5%
--------------- ------------- ------------------------------------
EBITDA 42.5% 1 January 12.5% of the overall award
2023 to will vest at achievement of
31 December threshold target with 42.5%
2025 vesting at maximum target
and a linear sliding scale
between 12.5% - 42.5%
--------------- ------------- ------------------------------------
ESG Measures 15.0% 1 January 100% vesting where the Remuneration
2023 to Committee ascertains that
31 December performance measures have
2025 been adequately met
--------------- ------------- ------------------------------------
The core performance measures underpinning the vesting of awards
under the LTIP are the delivery of:
-- at least 20% per annum cumulative TSR growth up to a maximum of 30% for full vesting;
-- a minimum threshold of cumulative EBITDA of GBP11 million in
the final year of the scheme. The maximum threshold is achieved
with a cumulative EBITDA of GBP12.5 million or above and in the
final year of the scheme and
-- continued improvement on ESG metrics from the 2022 LTIP
including reducing CO (2,) , setting new targets for our workforce
to reflect the ethnic and gender population of Milton Keynes, our
main HO base, and having a positive social impact on the
communities where the Group trades by working towards regular
employee volunteering commitments as well as our regular financial
commitment through our charity PACT (Personal Assurance Charitable
Trust).
Full details across the Group's ESG targets and performance can
be found within the Company's annual report.
On 20 June 2023 the LTIP Awards were granted to the following
PDMRs:
PDMR Number of options
over ordinary
shares subject
to Award
Sarah Mace - Chief Financial Officer 137,858
------------------
Steve Bush - Chief Operating Officer 70,731
------------------
Karen Thornley - Chief Commercial Officer 80,619
------------------
Richard Thompson - Chief Information Officer 78,176
------------------
CSOP Awards
The Company also announces that, on 30 June 2023, it granted
options over 124,993 new ordinary shares of 5p each in the Company
to certain employees and PDMRs. These options were granted to
continue the appropriate incentivisation of the Company's senior
management team and employee base and will continue to be granted
from time to time as the Remuneration Committee deems appropriate.
These options were granted under the Company's CSOP and may be
exercised within 10 years from 30 June 2023, at an exercise price
of 2.16p per share.
Number Exercise Total number Total number % holding
of options price (pence of options of ordinary of ordinary
per share) held shares held shares
Deborah Frost 13,888 216.00 22,634 333,678 1.068
------------ -------------- ------------- ------------- -------------
Sarah Mace 13,888 216.00 20,010 12,136 0.039
------------ -------------- ------------- ------------- -------------
Steve Bush 27,777 216.00 27,777 - -
------------ -------------- ------------- ------------- -------------
Karen Thornley 13,888 216.00 28,522 2,661 0.009
------------ -------------- ------------- ------------- -------------
Richard Thompson 13,888 216.00 22,459 - -
------------ -------------- ------------- ------------- -------------
Other senior staff
members (not a
PDMR) 41,664 216.00 N/A N/A N/A
------------ -------------- ------------- ------------- -------------
The Grant of the Awards constitutes a related party transaction
for the purposes of AIM Rule 13. The independent directors
consider, having consulted with the Company's nominated adviser,
that the terms of the transaction are fair and reasonable insofar
as its shareholders are concerned.
Further detail is provided below in accordance with Article 19.3
of the EU Market Abuse Regulation.
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Deborah Frost
------------------------------- ----------------------------------
Reason for the notification
2
-------------------------------------------------------------------
a) Position/status Chief Executive
------------------------------- ----------------------------------
b) Initial notification Initial
/Amendment
------------------------------- ----------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Personal Group Holdings Plc
------------------------------- ----------------------------------
b) LEI 213800TN8BH2YYWAH345
------------------------------- ----------------------------------
Details of the transaction(s): section to be repeated
4 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 5p each
financial instrument,
type of instrument
ISIN: GB0002760279
Identification code
------------------------------- ----------------------------------
b) Nature of the transaction Grant of options
------------------------------- ----------------------------------
Price(s) and volume(s) Price(s) Volume(s)
CSOP - GBP2.16
c) per share 13,888
----------
------------------------------- ----------------------------------
d) Aggregated information
- Aggregated volume 13,888
- Price GBP29,998.08
------------------------------- ----------------------------------
e) Date of the transaction 20 June 2023
------------------------------- ----------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- ----------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Sarah Mace
------------------------------ -----------------------------------
Reason for the notification
2
-------------------------------------------------------------------
a) Position/status CFO
------------------------------ -----------------------------------
b) Initial notification Initial
/Amendment
------------------------------ -----------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Personal Group Holdings Plc
------------------------------ -----------------------------------
b) LEI 213800TN8BH2YYWAH345
------------------------------ -----------------------------------
Details of the transaction(s): section to be repeated
4 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 5p each
financial instrument,
type of instrument
ISIN: GB0002760279
Identification code
------------------------------ -----------------------------------
b) Nature of the transaction Grant of options
------------------------------ -----------------------------------
Price(s) Volume(s)
Price(s) and volume(s) LTIP - GBP0.05
c) per share 137,858
CSOP - GBP2.16
per share 13,888
----------
------------------------------ -----------------------------------
d) Aggregated information
- Aggregated volume 151,746
- Price GBP36,890.98
------------------------------ -----------------------------------
e) Date of the transaction 20 June 2023
------------------------------ -----------------------------------
f) Place of the transaction Outside a trading venue
------------------------------ -----------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Steve Bush
------------------------------ -----------------------------------
Reason for the notification
2
-------------------------------------------------------------------
a) Position/status Chief Operating Officer
------------------------------ -----------------------------------
b) Initial notification Initial
/Amendment
------------------------------ -----------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Personal Group Holdings Plc
------------------------------ -----------------------------------
b) LEI 213800TN8BH2YYWAH345
------------------------------ -----------------------------------
Details of the transaction(s): section to be repeated
4 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 5p each
financial instrument,
type of instrument
ISIN: GB0002760279
Identification code
------------------------------ -----------------------------------
b) Nature of the transaction Grant of options
------------------------------ -----------------------------------
Price(s) Volume(s)
Price(s) and volume(s) LTIP - GBP0.05
c) per share 70,731
CSOP - GBP2.16
per share 27,777
----------
------------------------------ -----------------------------------
d) Aggregated information
- Aggregated volume 98,508
- Price GBP63,534.87
------------------------------ -----------------------------------
e) Date of the transaction 20 June 2023
------------------------------ -----------------------------------
f) Place of the transaction Outside a trading venue
------------------------------ -----------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Karen Thornley
------------------------------ -----------------------------------
Reason for the notification
2
-------------------------------------------------------------------
a) Position/status Chief Commercial Officer
------------------------------ -----------------------------------
b) Initial notification Initial
/Amendment
------------------------------ -----------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Personal Group Holdings Plc
------------------------------ -----------------------------------
b) LEI 213800TN8BH2YYWAH345
------------------------------ -----------------------------------
Details of the transaction(s): section to be repeated
4 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 5p each
financial instrument,
type of instrument
ISIN: GB0002760279
Identification code
------------------------------ -----------------------------------
b) Nature of the transaction Grant of options
------------------------------ -----------------------------------
Price(s) Volume(s)
Price(s) and volume(s) LTIP - GBP0.05
c) per share 80,619
CSOP - GBP2.16
per share 13,888
----------
------------------------------ -----------------------------------
d) Aggregated information
- Aggregated volume 94,507
- Price GBP34,029.03
------------------------------ -----------------------------------
e) Date of the transaction 20 June 2023
------------------------------ -----------------------------------
f) Place of the transaction Outside a trading venue
------------------------------ -----------------------------------
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Richard Thompson
------------------------------ -----------------------------------
Reason for the notification
2
-------------------------------------------------------------------
a) Position/status Chief Information Officer
------------------------------ -----------------------------------
b) Initial notification Initial
/Amendment
------------------------------ -----------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
-------------------------------------------------------------------
a) Name Personal Group Holdings Plc
------------------------------ -----------------------------------
b) LEI 213800TN8BH2YYWAH345
------------------------------ -----------------------------------
Details of the transaction(s): section to be repeated
4 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 5p each
financial instrument,
type of instrument
ISIN: GB0002760279
Identification code
------------------------------ -----------------------------------
b) Nature of the transaction Grant of options
------------------------------ -----------------------------------
Price(s) Volume(s)
Price(s) and volume(s) LTIP - GBP0.05
c) per share 78,176
CSOP - GBP2.16
per share 13,888
----------
------------------------------ -----------------------------------
d) Aggregated information
- Aggregated volume 92,064
- Price GBP33,906.88
------------------------------ -----------------------------------
e) Date of the transaction 20 June 2023
------------------------------ -----------------------------------
f) Place of the transaction Outside a trading venue
------------------------------ -----------------------------------
- ENDS -
For more information please contact:
Personal Group Holdings Plc
Deborah Frost (CEO) / Sarah Via Alma PR
Mace (CFO)
Cenkos Securities Plc
Camilla Hume / Callum Davidson
(Nomad) +44 (0)20 7397 8900
Russell Kerr (Sales)
Alma PR +44 (0)20 3405 0205
Caroline Forde / Joe Pederzolli personalgroup@almapr.co.uk
/ Kinvara Verdon
Notes to Editors
Personal Group Holdings Plc (AIM: PGH) is a workforce benefits
and services provider. The Group enables employers across the UK to
improve employee engagement and support their people's physical,
mental, social and financial wellbeing. Its vision is to create a
brighter future for the UK workforce.
Personal Group provides health insurance services and a broad
range of employee benefits, engagement, and wellbeing products. Its
offerings can also be delivered through its proprietary app, Hapi,
and the recently developed extension to the platform, Hapiflex.
The Group's growth strategy is centred around widening the
footprint of the business into the SME, talent-led & Public
Sectors, thereby expanding the addressable customer base. In
addition, it aims to grow in its existing industrial heartlands, to
re-invigorate growth in insurance policyholders and to drive the
use of its SaaS offerings.
Group Clients include: Airbus, Barchester Healthcare, British
Transport Police, Merseyrail, Randstad, Royal Mail Group, The Royal
Mint, the Sandwell & Birmingham NHS Trust, Stagecoach Group
plc, and The University of York.
For further information on the Group please see
www.personalgroup.com
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