Billington Holdings PLC Long Term Incentive Plan (5201J)

TIDMBILN

RNS Number : 5201J

Billington Holdings PLC

19 August 2019

19 August 2019

Billington Holdings Plc

("Billington", the "Group" or the "Company")

Long Term Incentive Plan

The Company confirms today that its Remuneration Committee (the "Committee") has agreed a Long Term Incentive Plan (the "Plan" or "LTIP") in which the Committee can award ordinary shares to employees pursuant to terms of the Plan. The Company has worked with its professional advisors to ensure that this Plan is consistent with best practice in terms of structure and quantum.

Details of the Plan

No awards under the Plan shall be granted which would, at the time of grant, cause the number of shares granted, when added to the number of shares allocated in the previous 10 years to exceed such 10 per cent of the ordinary share capital of the Company in issue at that time.

The number of shares in respect of which awards may be granted to any person in any Financial Year shall not exceed such number as has a market value equal to one times the individual's salary or such other limit as the Remuneration Committee may, in exceptional circumstances, determine and which in any event shall not exceed such number of Shares as has a market value equal to two times salary.

In calculating the award to individuals, the market value of shares subject to an award shall be taken to be the middle-market quotation of such shares on the Dealing Day last preceding the award date.

The objective of the Plan is to ensure that the strategic objectives of the company align with those of the senior management and that the structure of the overall remuneration package assists in maximising shareholder value. Performance criteria related to the improvement in the trading performance of the Company are applicable to the award of shares. The full award of shares shall only be made should progression in Earnings per Share (EPS) be equal to or greater than 20% per annum over a three year horizon period.

Awards under the Plan

The following awards of ordinary shares have been made in this round of the Plan:

 
 Name          Position            Ordinary         Total direct    Total % direct   Total number   Total Potential 
                                    share options    shareholding    Shareholding     of options     % Shareholding 
                                    granted under    in BILN         in BILN          held           including 
                                    the Plan                                                         options 
               Chief Executive 
 Mark Smith     Officer            68,966           5,000           0.039%           115,508        0.89% 
              ------------------  ---------------  --------------  ---------------  -------------  ---------------- 
 Trevor 
  Michael 
  Taylor       Finance Director    51,724           6,000           0.046%           95,802         0.74% 
              ------------------  ---------------  --------------  ---------------  -------------  ---------------- 
 

These shares will be satisfied from the Billington Holdings Plc Employee Share Ownership Trust and it is not anticipated any new shares will be issued to satisfy the award of shares under the Plan.

The following notifications, made in accordance with the requirements of the EU Market Abuse Regulation, gives further details.

For further information please contact:

Billington Holdings Plc Tel: [phone]

Mark Smith, Chief Executive

Trevor Taylor, Finance Director

WH Ireland Limited Tel: [phone]

Chris Hardie

James Sinclair-Ford

Jasper Berry

IFC Advisory Limited Tel: [phone]

Tim Metcalfe

Miles Nolan

Zach Cohen

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                                                          Mark Smith 
     ------------------------------------------------------------  ------------------------------------- 
 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                                                          Billington Holdings Plc 
     ------------------------------------------------------------  ------------------------------------- 
 b)   LEI                                                           213800MUHLXWQQ6MEN67 
     ------------------------------------------------------------  ------------------------------------- 
 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 
                                                                      Ordinary Shares of 10p each 
       Identification code                                            GB0000332667 
     ------------------------------------------------------------  ------------------------------------- 
 b)   Nature of the transaction                                     Award under Long Term Incentive Plan 
     ------------------------------------------------------------  ------------------------------------- 
 c)   Price(s) and volume(s)                                         Price(s)    Volume(s) 
                                                                      Nil         68,966 
                                                                                 ---------- 
     ------------------------------------------------------------  ------------------------------------- 
 d)    Aggregated information 
         *    Aggregated volume                                                  68,966 
                                                                                 Nil 
 
         *    Price 
     ------------------------------------------------------------  ------------------------------------- 
 e)   Date of the transaction                                       19 August 2019 
     ------------------------------------------------------------  ------------------------------------- 
 f)   Place of the transaction                                      Off Market 
     ------------------------------------------------------------  ------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities/person closely associated 
 a)   Name                                                          Trevor Michael Taylor 
     ------------------------------------------------------------  ------------------------------------- 
 2    Reason for the notification 
     --------------------------------------------------------------------------------------------------- 
 a)   Position/status                                               Finance Director 
     ------------------------------------------------------------  ------------------------------------- 
 b)   Initial notification/ Amendment                               Initial Notification 
     ------------------------------------------------------------  ------------------------------------- 
 3    Details of the issuer, emission allowance market participant, auction platform, auctioneer 
       or auction monitor 
     --------------------------------------------------------------------------------------------------- 
 a)   Name                                                          Billington Holdings Plc 
     ------------------------------------------------------------  ------------------------------------- 
 b)   LEI                                                           213800MUHLXWQQ6MEN67 
     ------------------------------------------------------------  ------------------------------------- 
 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 
                                                                      Ordinary Shares of 10p each 
       Identification code                                            GB0000332667 
     ------------------------------------------------------------  ------------------------------------- 
 b)   Nature of the transaction                                     Award under Long Term Incentive Plan 
     ------------------------------------------------------------  ------------------------------------- 
 c)   Price(s) and volume(s)                                         Price(s)    Volume(s) 
                                                                      Nil         51,724 
                                                                                 ---------- 

     ------------------------------------------------------------  ------------------------------------- 
 d)    Aggregated information 
         *    Aggregated volume                                                  51,724 
                                                                                 Nil 
 
         *    Price 
     ------------------------------------------------------------  ------------------------------------- 
 e)   Date of the transaction                                       19 August 2019 
     ------------------------------------------------------------  ------------------------------------- 
 f)   Place of the transaction                                      Off Market 
     ------------------------------------------------------------  ------------------------------------- 
 

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August 19, 2019 08:41 ET (12:41 GMT)