Springfield Properties PLC Grant of performance share awards (5566W)
December 23 2021 - 2:00AM
UK Regulatory
TIDMSPR
RNS Number : 5566W
Springfield Properties PLC
23 December 2021
23 December 2021
Springfield Properties plc
("Springfield" or the "Company")
Grant of performance share awards
Springfield Properties plc (AIM: SPR), a leading housebuilder in
Scotland delivering private and affordable housing, announces that,
on 22 December 2021, the Company granted awards over ordinary
shares of 0.125 pence each in the capital of the Company ("Awards")
to certain PDMRs, pursuant to the Company's Performance Share Plan
(the "PSP") that was originally established in January 2020.
Details of these Awards are set out below:
Name Role No. of Shares over which
Awards granted
Chief Executive
Innes Smith Officer 401,408
----------------- -------------------------
Chief Financial
Michelle Motion Officer 227,112
----------------- -------------------------
No consideration was paid for the grant of the Awards, which
have been structured as "nominal cost" options.
The Awards will normally vest on the third anniversary of grant
but only if, and to the extent that, certain performance conditions
are satisfied. These conditions (which have been set by the
Remuneration Committee of the Company and will be assessed
following the expiry of the financial year to 31 May 2024) relate
to the achievement of specified targets applicable to earnings per
share (75% weighting) and the Company's net debt / total assets
gearing (25% weighting). Vesting will also normally be dependent on
the continued employment of the participant within the Company's
group.
Once the Awards have vested, they will generally be available to
be exercised until the tenth anniversary of their original grant.
On any such exercise, additional "dividend equivalent" entitlements
may also be paid to the relevant individuals.
Further information about the overall structure of the PSP can
be found in the Company's annual report and financial
statements.
Enquiries
Springfield Properties
Sandy Adam, Chairman
Innes Smith, Chief Executive Officer +44 1343 552550
-----------------
Singer Capital Markets
-----------------
Shaun Dobson, Rachel Hayes, James Moat
(Investment Banking) +44 20 7496 3000
-----------------
Luther Pendragon
-----------------
Harry Chathli, Claire Norbury +44 20 7618 9100
-----------------
The following notifications are intended to satisfy the
Company's obligations under Article 19(3) of EU Regulation No
596/2014 (the Market Abuse Regulation).
1 Details of the person discharging managerial responsibilities/person
closely associated
------------------------------------------------------------------------------
a) Name 1. Innes Smith
2. Michelle Motion
---- -------------------------- --------------------------------------------------
2 Reason for the notification
---- ------------------------------------------------------------------------------
a) Position/status 1. Chief Executive Officer
2. 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 Springfield Properties plc
---- -------------------------- --------------------------------------------------
b) LEI 21380026UDE3LKFSDP68
---- -------------------------- --------------------------------------------------
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 0.125 pence each ("Shares")
financial instrument,
type of instrument
----
Identification code GB00BF1QPG26
---- -------------------------- --------------------------------------------------
b) Nature of the transaction Grant of awards (in the form of nominal cost
options) over Shares pursuant to the Springfield
Properties plc Performance Share Plan
---- -------------------------- --------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
----------
1. nil 401,408
--- --------- ----------
2. nil 227,112
--- --------- ----------
---- -------------------------- --------------------------------------------------
d) Aggregated information
* Aggregated volume
1. N/A single transaction
2. N/A single transaction
* Price
---- -------------------------- --------------------------------------------------
e) Date of the transaction 2021-12-22
---- -------------------------- --------------------------------------------------
f) Place of the transaction Off market
---- -------------------------- --------------------------------------------------
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END
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