CT Automotive Group PLC Grant of awards under Long Term Incentive Plan

RNS Number : 8429B

CT Automotive Group PLC

02 February 2024

 

 

CT Automotive Group plc (the "Company")

Grant of awards under Long Term Incentive Plan

 

CT Automotive Group plc announces that on 1 February 2024, the Company awarded 374,999 nominal cost options under the CT Automotive Long Term Incentive Plan 2022 to certain senior executives, including its Chief Executive Officer (as set out in the table below). The award is over ordinary shares of £0.005 ("Ordinary Shares") in the form of options to acquire Ordinary Shares at nominal value ("LTIP Awards").

  

Executive	Role	Number of LTIP Awards
Simon Phillips	Chief Executive Officer and Director	134,146

 

The LTIP Awards to senior executives will vest on the third anniversary of grant subject to meeting earnings per share performance criteria for the three year period ending FY2025. 25% of the LTIP Awards will vest on meeting minimum performance criteria, with vesting thereafter on a straight-line basis.

In addition, the Company awarded 97,560 nominal cost options under the same plan to certain senior managers. These awards vest on the third anniversary of grant subject to continued employment and no further performance conditions.

For further information, please contact:

CT Automotive     Simon Phillips, Chief Executive Officer	via MHP
MHP (Financial PR) Tim Rowntree Charlie Barker	Tel: [phone] [e-mail]
Liberum (Nominated Adviser and Broker) Richard Lindley Benjamin Cryer	Tel: [phone]

                                             

The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014: 

1	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	Simon Phillips
2	Reason for the notification
(a)	Position/status	Chief Executive Officer
(b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
(a)	Name	CT Automotive Group plc
(b)	LEI	213800RP7B4UJ1DDKY67
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 instrument, type of instrument Identification code	Options over Ordinary shares of £0.005 pence each ISIN GB00BMHYGR77
(b)	Nature of the transaction	Award of options pursuant to CT Automotive Group plc 2022 Long Term Incentive Plan
(c)	Price(s) and volume(s)	Price(s) Volume(s)     NIL 134,146
(d)	Aggregated information -         Aggregated volume -         Price	N/A
(e)	Date of the transaction	1 February 2024
(f)	Place of the transaction	Outside a trading venue

 

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