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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Grainger Plc | LSE:GRI | London | Ordinary Share | GB00B04V1276 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-2.50 | -0.92% | 268.00 | 267.50 | 268.50 | 271.50 | 268.00 | 271.00 | 144,911 | 13:36:30 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Investment Trust | 106.1M | 25.6M | 0.0347 | 77.23 | 1.98B |
TIDMGRI
RNS Number : 5205W
Grainger PLC
12 December 2023
GRAINGER PLC
("GRAINGER" OR THE "COMPANY")
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
GRANT OF OPTIONS UNDER THE GRAINGER PLC 2017 LONG TERM INCENTIVE PLAN
The Company announces that it has made the following grants of nil cost share options ("Options") over ordinary shares of 5p each in the capital of the Company ("Shares") pursuant to the 2017 Long Term Incentive Plan ("LTIP") on 11 December 2023.
Grant of Options
On 11 December 2023, Grainger granted Options over a total of 929,064 Shares to its Executive Directors and Persons Discharging Managerial Responsibilities ("PDMRs") of the Company (as specified in the table below).
Director/ Position No. of shares under PDMR Option Helen Gordon Chief Executive Officer (Director) 423,954 ------------------------------------ -------------------- Rob Hudson Chief Financial Officer (Director) 292,183 ------------------------------------ -------------------- Director of Land and Development Michael Keaveney (PDMR) 114,068 ------------------------------------ -------------------- Director of Operations and Eliza Pattinson Asset Management (PDMR) 98,859 ------------------------------------ --------------------
Options will generally vest and become exercisable three years from the date of grant, subject to continued employment. Vesting of the Options is subject to performance conditions relating to the following measures:
- (30%) Total property income return measured as annual average like for like rental growth; - (30%) Relative Total Shareholder Return (versus a bespoke group of real estate peers); - (30%) Secured PRS Investment; and - (10%) Reduction in operational and embodied carbon emissions.
The performance conditions are each measured across the 2024, 2025 and 2026 financial years.
The Secured PRS Investment target range assumes funding solely from our ongoing asset recycling programme, operational cash flow generation and with LTV in mind. To the extent that funding is arranged from other sources or actual disposals vary against plan, the Committee may exclude investments and/or adjust the target range to ensure that targets remain at least as stretching as the original ones.
Further details of the performance conditions are set out in the 2023 Annual Report on page 110.
A holding period of two years from date of vesting is also applicable to the Options granted to the Executive Directors.
The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail.
1 Details of the person discharging managerial responsibilities/person closely associated a) Name Helen Gordon 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 Grainger plc b) LEI 2138007CEIRKZMNI2979 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 Ordinary Shares of GBP0.05 each instrument, type of instrument b) Identification code ISIN: GB00B04V1276 c) Nature of the transaction Grant of a nil cost Option over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan d) Price(s) and volume(s) Price(s) Volume(s) 1. GBPnil 1. 423,954 e) Aggregated information - Aggregated volume N/A - Price f) Date of the transaction 11 December 2023 g) Place of the transaction Outside a trading venue 1 Details of the person discharging managerial responsibilities/person closely associated a) Name Rob Hudson 2 Reason for the notification a) Position/status Chief Financial Officer b) Initial notification /Amendment Initial notification 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Grainger plc b) LEI 2138007CEIRKZMNI2979 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 Ordinary Shares of GBP0.05 each instrument, type of instrument b) Identification code ISIN: GB00B04V1276 c) Nature of the transaction Grant of a nil cost Option over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan d) Price(s) and volume(s) Price(s) Volume(s) 1. GBPnil 1. 292,183 e) Aggregated information - Aggregated volume N/A - Price f) Date of the transaction 11 December 2023 g) Place of the transaction Outside a trading venue 1 Details of the person discharging managerial responsibilities/person closely associated a) Name Michael Keaveney 2 Reason for the notification a) Position/status Director of Land and Development (PDMR) b) Initial notification /Amendment Initial notification 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Grainger plc b) LEI 2138007CEIRKZMNI2979 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 Ordinary Shares of GBP0.05 each instrument, type of instrument b) Identification code ISIN: GB00B04V1276 c) Nature of the transaction Grant of a nil cost Option over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan d) Price(s) and volume(s) Price(s) Volume(s) 1. GBPnil 1. 114,068 e) Aggregated information - Aggregated volume N/A - Price f) Date of the transaction 11 December 2023 g) Place of the transaction Outside a trading venue 1 Details of the person discharging managerial responsibilities/person closely associated a) Name Eliza Pattinson 2 Reason for the notification a) Position/status Director of Operations and Asset Management (PDMR) b) Initial notification /Amendment Initial notification 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Grainger plc b) LEI 2138007CEIRKZMNI2979 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 Ordinary Shares of GBP0.05 each instrument, type of instrument b) Identification code ISIN: GB00B04V1276 c) Nature of the transaction Grant of a nil cost Option over Ordinary Shares pursuant to the Grainger plc 2017 Long Term Incentive Plan d) Price(s) and volume(s) Price(s) Volume(s) 1. GBPnil 1. 98,859 e) Aggregated information - Aggregated volume N/A - Price f) Date of the transaction 11 December 2023 g) Place of the transaction Outside a trading venue, 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 rns@lseg.com or visit www.rns.com.
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END
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(END) Dow Jones Newswires
December 12, 2023 07:44 ET (12:44 GMT)
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