NWF Group PLC Award of Options (2590O)

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RNS Number : 2590O

NWF Group PLC

02 October 2023

For release Monday 2 October 2023

NWF Group plc

NWF Group plc: Award of Options under Company Performance Share Plan

NWF Group plc ('NWF' or the 'Company'), the specialist distributor of fuel, food and feed across the UK, announces the following award has been approved under the terms of the established NWF Company Performance Share Plan (the 'Plan').

Katie Shortland, Chief Financial Officer of NWF, will receive an award of an option over a maximum of 92,760 ordinary shares of 25 pence each of the Company ('Shares') at a price of 221 pence per Share, being the mid-market price at the close of business on 29 September 2023. This award is subject to the following performance targets:

1. if the reported headline basic earnings per share for the three financial years ending 31 May 2026 increases by RPI plus 2% per annum then 27,828 Shares will be issued under the Plan; and

2. the maximum of 92,760 Shares will be issued if the reported headline basic earnings per share increases by RPI plus 8% per annum for the three financial years ending 31 May 2026.

Following the award, Katie Shortland will be interested in 92,760 options over Shares.

The Plan was established for the purpose of incentivising and retaining the Company's eligible executive management. Shares awarded under the Plan are subject to a performance criteria that requires NWF to meet a minimum reported basic earnings per share target over a three year period. The Remuneration Committee has responsibility for determining the award of Shares and the performance targets under the Plan. In the event of a recipient leaving during the period to 31 May 2026, the circumstances surrounding the recipient leaving the Company would be assessed, and any award which subsequently vests would be pro-rated to reflect the recipient's actual period of employment.

 
 Rob Andrew, Group Company 
   Secretary                  Reg Hoare/Catherine Chapman  Mike Bell/Ed Allsopp 
 
  NWF Group plc              MHP G roup                    Peel Hunt LLP 
                                                           (Nominated Adviser and Broker) 
  Tel: [phone]         Tel: [phone]            Tel: [phone] 
 
 
 
 

The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:

 
  1.    De t a il s of t he p e r son di s cha rgi ng mana g e r i 
         al r esp o ns i b iliti es / pe r son c lo se ly as s oc i 
         a t ed 
 a.     Na me                                      Katie Shortland 
                                                  --------------------------------------------------------- 
 2.     Reaso n f or t he no tifi ca tion 
 a.     Po siti on /st                             Chief Financial Officer 
         a t us 
                                                  --------------------------------------------------------- 
 b.     I n i t ial no                             I n i t ial 
         tific a ti on 
         / A m end m ent 
       -----------------------------------------  --------------------------------------------------------- 
 3.     De t a il s of t he i ss u e r, emi ss i on a ll o w ance 
         m a r ket p a rti c i pan t, auc ti on p l a tf o rm, auc tion 
         eer or a u c tion mo n it or 
  a.    Na me                                      NW F G r oup p lc 
                                                  --------------------------------------------------------- 
  b.    LEI                                        21 3 8 0 0AR R ZN N 1W VZ9M70 
       -----------------------------------------  --------------------------------------------------------- 
 4.     De t a il s of t he tr an s ac ti on ( s ): sec ti on to be 
         r ep e a t ed f or (i) each t y pe of i ns trume n t; (ii) 
         each t y pe of tr an s ac ti on; (ii i) each da t e; and (iv) 
         each p lace w h e re tr an sa c tio ns h a ve b een c on d 
         uc t ed 
 a.     De scri p ti on 
         of t he F i nan 
         c ial i n s t                               O r d i na ry s ha r es of 25p in the C o m 
         r u m en t, t                               pa ny 
         y pe of i n str 
         u m ent 
         I den t ific a                              GB00 065 23 608 
         ti on c ode 
                                                  --------------------------------------------------------- 
 b.     Na t u re of t 
         he tr an s a ction 
                                                     Award of options under the Company's Share Option 
                                                     Plan 
       -----------------------------------------  --------------------------------------------------------- 
 
 c.     P ric e ( s) and                            P ric e ( s)                   Vo l u m e 
         v ol u m e (s)                                                             ( s) 
       ----------------------------------------- 
                                                    0p                             92,760 
  -----------------------------------------------  -----------------------------  ----------------------- 
 d.           Agg re ga t ed 
               i n f o r m a 
               t i on 
                *    Agg re ga t ed v o lu m e 
 
 
               -- P ric e 
       ------------------------------------------  -------------------------------------------------------- 
 e.     Da te of t he                              2 October 2023 
         tr an s a ction 
       -----------------------------------------  --------------------------------------------------------- 
 f.     P l a ce of t 
         he tr an s a ction                          Outside a trading venue 
       -----------------------------------------  --------------------------------------------------------- 
 

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October 02, 2023 02:00 ET (06:00 GMT)