Eddie Stobart Logistics PLC Executive LTIP Awards (5789Y)

TIDMESL

RNS Number : 5789Y

Eddie Stobart Logistics PLC

09 May 2019

Eddie Stobart Logistics plc

("Eddie Stobart" or the "Company")

Executive LTIP awards - PDMR dealings

Eddie Stobart, a leading UK end-to-end supply chain, transport and logistics group, announces that under the terms of the Company's Long Term Incentive Plan (LTIP), awards were granted to the Executive Directors on 8 May 2019. Awards over 627,533 shares and 284,264 shares were awarded to Alex Laffey, Chief Executive and Anoop Kang, Chief Financial Officer, respectively.

Each award gives the holder the right to exercise a nil-cost option at the end of a three-year period from the date of the award, subject to the following performance criteria (which apply by reference to the start of the 2019 financial year):

-- Vesting of 75 per cent of the award is based on achievement of 10 per cent compound growth in Earnings Per Share per annum

-- Vesting of 25 per cent of the award is based on achievement of 10 per cent compound growth in Total Shareholder Returns per annum.

The awards were calculated by reference to the basic salaries of the executive directors (150 per cent for the Chief Executive and 100 per cent for the Chief Financial Officer) divided by a share price of 98.5p. It is the Board's intention that, in line with guidelines issued by investor representative bodies, no more than 10 per cent of the Company's issued share capital will be issued or committed under employee share-based incentive schemes in the ten year period from the date of the admission of the Company to listing on the Alternative Investment Market.

Further information on the terms of the LTIP is included in the 2019 Annual Report and Accounts.

Further inquiries:

 
 Eddie Stobart Logistics plc                     (0)1925 605400 
 Alex Laffey, Chief Executive Officer 
 Anoop Kang, Chief Financial Officer 
 
 FTI Consulting                                  (0)20 3727 1340 
 Nick Hasell / Alex Le May / Matthew O'Keeffe 
 
 Cenkos Securities Plc (Nomad & Joint Broker)    (0)20 7397 8900 
 Nicholas Wells / Giles Balleny / Harry 
  Hargreaves 
 
 Berenberg (Joint broker)                        (0)20 3207 7800 
 Chris Bowman / Toby Flaux / Laure Fine 
 

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                                     Alex Laffey 
      ---------------------------------------  -------------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------------------- 
 a)    Position/status                          Chief Executive 
      ---------------------------------------  -------------------------------------------- 
 b)    Initial notification                     Initial notification 
        /Amendment 
      ---------------------------------------  -------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------------- 
 a)    Name                                     Eddie Stobart Logistics plc 
      ---------------------------------------  -------------------------------------------- 
 b)    LEI                                      213800N5AWXCFP613J91 
      ---------------------------------------  -------------------------------------------- 
 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 1 pence each 
        financial instrument, 
        type of instrument 
       Identification code                      ISIN: GB00BD8QVC95 
      ---------------------------------------  -------------------------------------------- 
 b)    Nature of the transaction                Grant of nil-cost option over 627,533 
                                                 ordinary shares under the Company's 
                                                 long term incentive plan 
      ---------------------------------------  -------------------------------------------- 
 c)    Price(s) and volume(s) 
                                                --------------------  ------------------- 
                                                 Price(s)              Volume(s) 
                                                --------------------  ------------------- 
    Nil-cost                                                           627,533 
   -----------------------------------------------------------------  ------------------- 
 
 d)    Aggregated information                   N/A 
  - Aggregated volume 
  - Price 
 --------------------------------------------------------------  -------------------------- 
 e)    Date of the transaction                  8 May 2019 
      ---------------------------------------  -------------------------------------------- 
 f)    Place of the transaction                 Outside a trading venue 
      ---------------------------------------  -------------------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities 
        / person closely associated 
 a)    Name                                     Anoop Kang 
      ---------------------------------------  -------------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------------------- 
 a)    Position/status                          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                                     Eddie Stobart Logistics plc 
      ---------------------------------------  -------------------------------------------- 
 b)    LEI                                      213800N5AWXCFP613J91 
      ---------------------------------------  -------------------------------------------- 
 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 1 pence each 
        financial instrument, 
        type of instrument 
       Identification code                      ISIN: GB00BD8QVC95 
      ---------------------------------------  -------------------------------------------- 
 b)    Nature of the transaction                Grant of nil-cost option over 284,264 
                                                 ordinary shares under the Company's 
                                                 long term incentive plan 
      ---------------------------------------  -------------------------------------------- 
 c)    Price(s) and volume(s) 
                                                --------------------  ------------------- 
                                                 Price(s)              Volume(s) 
                                                --------------------  ------------------- 
    Nil-cost                                                           284,264 
   -----------------------------------------------------------------  ------------------- 
 
 d)    Aggregated information 
  - Aggregated volume                      N/A 
  - Price 
 --------------------------------------------------------------  -------------------------- 
 e)    Date of the transaction                  8 May 2019 
      ---------------------------------------  -------------------------------------------- 
 f)    Place of the transaction                 Outside a trading venue 
      ---------------------------------------  -------------------------------------------- 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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May 09, 2019 12:27 ET (16:27 GMT)