Hill & Smith Hldgs PLC Director/PDMR Shareholding (4773H)

TIDMHILS

RNS Number : 4773H

Hill & Smith Hldgs PLC

12 March 2018

Hill & Smith Holdings PLC ('Hill & Smith' or 'the Company')

Director and PDMR Shareholdings

12 March 2018

Notification under paragraphs 3.1.2R to 3.1.4R of the Disclosure and Transparency Rules

Hill & Smith 2014 Long-Term Incentive Plan

LTIP Vesting - 2015 Award

Hill & Smith announces that the Remuneration Committee (the 'Committee') has approved the vesting of 100% of the awards that were made on 17 March 2015 to the below Directors and persons discharging managerial responsibilities in accordance with the rules of the Hill & Smith Holdings PLC 2014 Long-term Incentive Plan (the 'LTIP').

For awards made under the LTIP the Committee, in making such option awards, and using its discretion, specified that subject to the rules of the LTIP the Company would procure the transfer to Mr D W Muir and Mr M Pegler such additional number of award shares as could have been acquired by the reinvestment of dividends paid on the original award shares. Such additional award shares vest in the same proportion as the original award shares. The maximum number of shares to be awarded in this way is to be determined on the basis that each such dividend was reinvested on the date of payment of that dividend at a price per share equal to the market value of a share on that day.

The number of shares vested is net of the tax and national insurance liability payable by the individual. The individual forfeited an equivalent number of shares in order for the company to meet this liability.

The participants are not required to make any payment for the vesting shares which vest on achievement of specified performance targets of growth in underlying earnings per share and relative total shareholder return.

 
                Total Award Shares 
                      vested 
-------------  ------------------- 
 Mr D W Muir          41,329 
-------------  ------------------- 
 Mr M Pegler          26,444 
-------------  ------------------- 
 

Hill & Smith 2014 Long-Term Incentive Plan

LTIP Award - 12 March 2018

On 12 March 2016 the Remuneration Committee of the Company approved the grant of awards in the form of nil-cost options over ordinary shares in the Company in accordance with the provisions of the Hill & Smith Holdings 2014 Long Term Incentive Plan (the "LTIP").

Mr D W Muir has been granted a nil-cost option over 47,690 ordinary shares and Mr M Pegler has been granted a nil-cost option over 33,387 ordinary shares.

The awards were based on a share price of 1331.00p, being the average of the mid-market prices for the three trading days prior to the grant date of 12 March 2018.

Under the rules of the LTIP and the Company's Remuneration Policy, the vesting of the Awards is subject to the achievement of set performance conditions which are based upon the growth in the Company's underlying earnings per share and its total shareholder return, over the three year period commencing on 1 January 2018 (the "Vesting Period"). The awards will (subject to the achievement of the performance conditions) vest following the end of the Vesting Period.

Following these events Mr Muir and Mr Pegler have the following interests in the Company's shares:

 
   Individual       Number of        Total number   Total number of shares 
                     shares in         of shares      awarded or subject 
                    which there       awarded or       to options under 
                  is a beneficial     subject to       the ESOS and SAYE 
                     interest        options under          Schemes 
                                       the LTIP 
--------------  -----------------  ---------------  ---------------------- 
 Mr D 
  W Muir             335,286           149,924              8,844 
--------------  -----------------  ---------------  ---------------------- 
 Mr M 
  Pegler              78,573           101,601              6,506 
--------------  -----------------  ---------------  ---------------------- 
 
 
 1.    Details of the person discharging managerial 
        responsibilities/person closely associated 
----  ------------------------------------------------------------- 
 (a)   Name                          i. Mr D W Muir 
                                      ii. Mr M Pegler 
----  -------------------------  ---------------------------------- 
 2.    Reason for the notification 
----  ------------------------------------------------------------- 
 (a)   Position/status               i. Chief Executive Officer 
                                      ii. Group Finance Director 
----  -------------------------  ---------------------------------- 
 (b)   Initial notification/      Initial notification 
        Amendment 
----  -------------------------  ---------------------------------- 
 3.    Details of the issuer 
----  ------------------------------------------------------------- 
 (a)   Name                       Hill & Smith Holdings PLC 
----  -------------------------  ---------------------------------- 
 (b)   LEI                         2138003A3ISGQZBOWI83 
----  -------------------------  ---------------------------------- 
 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                Ordinary shares of GBP0.25 each 
        of the Financial 
        Instrument 
----  -------------------------  ---------------------------------- 
 (b)   Identification             GB0004270301 
        code of the 
        Financial Instrument 
----  -------------------------  ---------------------------------- 
 (c)   Nature of the              Grant of awards 
        transaction 
----  -------------------------  ---------------------------------- 
 (d)   Price(s) and               Price(s)        Volume(s) 
        volume(s) 
                                 --------------  ------------------ 
                                  i. Nil          i. 47,690 
                                   ii. Nil         ii. 33,387 
                                 --------------  ------------------ 
 (e)   Aggregated                  81,077 shares 
        information                 Nil Cost 
         *    Aggregated volume 
 
 
        - Price 
----  -------------------------  ---------------------------------- 
 (f)   Date of the                12 March 2018 
        transaction 
----  -------------------------  ---------------------------------- 
 (g)   Place of the               London Stock Exchange 
        transaction 
----  -------------------------  ---------------------------------- 
 

Enquiries:

Alex Henderson

Company Secretary

Tel: [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 12, 2018 13:23 ET (17:23 GMT)