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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Cropper (james) Plc | LSE:CRPR | London | Ordinary Share | GB0002346053 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-5.00 | -1.92% | 255.00 | 240.00 | 270.00 | 260.00 | 245.00 | 260.00 | 32,419 | 13:04:23 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Paper Mills | 130.45M | 516k | 0.0540 | 47.22 | 24.36M |
TIDMCRPR
RNS Number : 9794W
Cropper(James) PLC
07 August 2018
7 August 2018
James Cropper PLC (the "Company")
Grants under Long Term Incentive Plan
The Company provides the following update in options over ordinary shares of 25p each in the Company ("Options").
On 6 August 2018, the trustees of the James Cropper Employee Trust of James Cropper EBT Ltd advised the Company that they have approved grant awards to certain employees and PDMRs under the terms of The James Cropper Plc 2008 Long Term Incentive Plan (the "LTIP" or the "Plan"), which grants participating employees a conditional right to become entitled to options with an exercise price of nil over ordinary shares of 25p each ("Shares") in the Company. Grant awards to PDMRs are set out below:
Grant Date: 06/08/2018 Award Reference Price: 1562.6p per Share Maximum number of Shares Nature of under LTIP conditional award award ----------------- ----------- ------------ ------------- Mark Cropper (Director) 2,413 Cash Awards Free Cost Phil Wild (Director) 9,530 Options Free Cost Steve Adams (Director) 5,016 Options Free Cost Isabelle Maddock (Director) 5,016 Options Free Cost Martin Thompson (Director) 5,016 Options Free Cost Dave Watson (Director) 5,016 Options Patrick Willink (Director) 4,216 Cash Awards Free Cost Jim Aldridge (PDMR) 472 Options Free Cost David Nicholson (PDMR) 515 Options
Conditional cash awards ("Cash Awards") grant participating employees a conditional right to be paid a cash amount based on the proceeds of the sale of a specified number of Shares following the vesting of the award.
The LTIP Options are subject to the achievement of pre-determined performance conditions and become exercisable at the end of a predetermined holding period from the date of the award. Further details are set out in the appendix below.
Appendix
The number of options that can be awarded to any participant in a financial year under the Plan, determined by reference to Company's 20-day average mid-market share price at the time of the award, is limited to a maximum of 75% of the participant's basic salary.
The LTIP awards are subject to the achievement of certain performance conditions, specific to each participant, as set out below:
Conditions of Award for Participants
(i) Earnings per share conditions
- Awards will vest in full on the third anniversary of the Award provided the growth in the Company's earnings per share, adjusted for IFRS pension adjustments, between the preceding financial year end when the award was granted and the preceding financial year end when the grant is vested exceed the increase in retail price index plus 20% per annum;
- Awards will vest at 25% on the third anniversary of the Award if the growth in the Company's earnings per share, adjusted for IFRS pension adjustments, between the preceding financial year end when the award was granted and the preceding financial year end when the grant is vested exceed the increase in retail price index plus 6.0% per annum;
- Awards will vest proportionally between 25% and 100% on the third anniversary of the Award if the growth in the Company's earnings per share, adjusted for IFRS adjustments, between the preceding financial year end when the award was granted and the preceding financial year end when the grant is vested exceed the increase in retail price index by more than 6.0% but less than 20% per annum; and
- Awards will lapse on the third anniversary of the Award if the growth in the Company's earnings per share, adjusted for IFRS pension adjustments, between the preceding financial year end when the award was granted and the preceding financial year end when the grant is vested, does not exceed the increase in retail price plus 6.0% per annum.
Enquiries: Isabelle Maddock, Group Robert Finlay, Henry Willcocks Finance Director Jim Aldridge, Company Richard Johnson Secretary James Cropper PLC (AIM:CRPR) Stockdale Securities Limited Tel: +44 (0) 1539 722002 Tel: +44 (0) 207 601 6100 www.cropper.com www.stockdalesecurities.com
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 rns@lseg.com or visit www.rns.com.
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(END) Dow Jones Newswires
August 07, 2018 02:00 ET (06:00 GMT)
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