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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Persimmon Plc | LSE:PSN | London | Ordinary Share | GB0006825383 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
35.50 | 2.77% | 1,318.00 | 1,318.50 | 1,319.50 | 1,321.00 | 1,296.00 | 1,296.00 | 1,388,111 | 16:35:11 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gen Contr-single-family Home | 2.77B | 255.4M | 0.7996 | 16.49 | 4.21B |
TIDMPSN
RNS Number : 4373Z
Persimmon PLC
15 December 2017
15 December 2017
Persimmon Plc
Board Changes
Persimmon Plc (the 'Company') announces that Nicholas Wrigley, Chairman, has informed the Board of his intention to resign. He will remain as Chairman to allow an orderly process while the Board seeks a successor. In addition Jonathan Davie, Senior Independent Director and Chairman of the Remuneration Committee, resigned from the Board on 14 December 2017.
The Company introduced a Long Term Incentive Plan in 2012 ("2012 LTIP"). The Board believes that the introduction of the 2012 LTIP has been a significant factor in the Company's outstanding performance over this period, led by a strong and talented Executive team. Nevertheless, Nicholas and Jonathan recognise that the 2012 LTIP could have included a cap. In recognition of this omission, they have therefore tendered their resignations.
The Company will now look to appoint a new Chairman and will report further in due course.
In addition, the Company announces that Nigel Mills has been appointed Senior Independent Director with effect from 14 December 2017 and will lead the process of appointing a new Chairman. Marion Sears has been appointed Chairman of the Remuneration Committee, also from 14 December 2017.
Since 2012, when the Capital Return Plan Strategy was launched and the 2012 LTIP was approved by shareholders, the Company has made substantial cash returns to shareholders at the same time as increasing the size of the business and delivering significant shareholder value. Since the strategy was launched, Persimmon has delivered an increase in the number of new homes supplied of over 65%, invested GBP2.9bn in new land, returned 485p per share (GBP1.5bn) in cash and increased the proposed capital return by 49% to 925p per share, c. GBP2.85 bn.
The Board would like to express its thanks to Nicholas Wrigley and Jonathan Davie for their valuable contribution to the success of the Company.
The Board looks forward to the scheduled full year trading update on 9 January 2018.
Further information, please contact:
Citigate Dewe Rogerson
Simon Rigby
Kevin Smith
Jos Bieneman
Tel: +44 (0)20 7638 9571
This announcement contains inside information
Classification: Inside information
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
December 15, 2017 02:00 ET (07:00 GMT)
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