Property Franchise Group PLC (The) New Long Term Incentive Plan (6940H)

TIDMTPFG

RNS Number : 6940H

Property Franchise Group PLC (The)

09 June 2017

THE PROPERTY FRANCHISE GROUP PLC

(the "Company" or the "Group")

New Long Term Incentive Plan

The Property Franchise Group, the UK's largest property franchisor with 6 brands across a network of 375 offices, today announces that it has granted options over new ordinary shares in the Company to its Chief Executive Officer and Chief Financial Officer under a new TPFG Share Option Plan. The awards, which are the first to the Executives since the Initial Public Offering in December 2013, recognise each of their roles in developing and implementing the Company's strategic plans and are designed to continue to incentivise them appropriately.

The awards will be subject to the growth in the Company's basic earnings per share, excluding exceptional income/costs and share based payments ("adjusted EPS") over the 3 years to 31 December 2019. Adjusted EPS growth of 15% over the period will be required for threshold vesting of the awards, with adjusted EPS growth of 44% or higher required for all of the awards to vest. There will be a straight line sliding scale between these two points. None of the awards will vest for adjusted EPS growth below 15% over the period.

The maximum awards are stated below.

Name Position Number of shares

subject to awards

   Ian Wilson                                 Chief Executive                          1,000,000 
   David Raggett                            Chief Financial Officer                 500,000 

Immediately prior to these awards the Company's issued share capital was 25,822,750 Ordinary Shares and there were outstanding awards granted under the EMI scheme over 64,800 Ordinary Shares.

Further detail is provided below in accordance with Article 19.3 of the EU Market Abuse Regulation.

 
       Details of the person discharging managerial 
  1     responsibilities/person closely associated. 
----  -------------------------------------------------------------------------------------------------------- 
 a)    Name:                              Ian Wilson                          David Raggett 
----  ------------------------------     ----------------------  ----------  --------------------------------- 
       Reason for 
  2     notification. 
----  --------------------------------   ----------------------  ----------  ---------------------  ---------- 
 a)    Position/Status:                   Chief Executive                     Chief Financial 
                                                                               Officer 
----  -------------------------------    ----------------------------------  --------------------------------- 
 b)    Initial Notification/Amendment:    Initial Notification                Initial Notification 
----  --------------------------------   ----------------------------------  --------------------------------- 
       Details of the issuer, emission allowance market 
  3     participation, auction platform, 
       auctioneer 
        or auction 
        monitor. 
----  --------------------------------   ----------------------  ----------  ---------------------  ---------- 
 a)    Name:                              The Property Franchise              The Property Franchise 
                                           Group PLC                           Group PLC 
----  ------------------------------     ----------------------------------  --------------------------------- 
 b)    LEI:                               2138008J5PTJ8C77I535                2138008J5PTJ8C77I535 
----  ------------------------------     ----------------------  ----------  ---------------------  ---------- 
       Details of transaction(s);section to berepeated 
        for (i) each type of instrument; (ii) each 
  4     type 
       of transaction; (iii) each date; and (iv) each 
        place where transactions have been conducted. 
----  -------------------------------------------------------------------------------------------------------- 
 a)    Description                        Ordinary Shares                     Ordinary Shares 
        of the financial                   of                                  of 
        instrument: 
                                          1 pence each                        1 pence each 
       Identification                     ISIN: GB00BH0WFH67                  ISIN: GB00BH0WFH67 
        code: 
----  -------------------------------    ----------------------------------  --------------------------------- 
 b)    Nature of                          Grant of nil cost                   Grant of nil cost 
        transaction:                       options                             options 
                                          over Company's                      over Company's 
                                           shares                              shares 
----  ------------------------------     ----------------------------------  --------------------------------- 
 c)    Price(s)                           Price(s)                Volume(s)   Price(s)               Volume(s) 
        and volume(s) 
                                         ----------------------  ----------  ---------------------  ---------- 
      1 pence                                                                 1 pence 
       each                                                       1,000,000    each                    500,000 
     ----------------------------------------------------------  ----------  ---------------------  ---------- 
 d)    Aggregatted                        n/a                                 n/a 
        volume: 
  Price:                                n/a                                   n/a 
 ---------------------------------     ------------------------  ----------  ---------------------  ---------- 
 e)    Date of                            9 June 2017                         9 June 2017 
        Transaction: 
----  -------------------------------    ----------------------------------  --------------------------------- 
 f)    Place of                           London Stock Exchange               London Stock Exchange 
        the Transaction 
----  --------------------------------   ----------------------------------  --------------------------------- 
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information, please contact:

   The Property Franchise Group PLC                          01202 292829 

Ian Wilson, Chief Executive Officer

David Raggett, Chief Financial Officer

   Cenkos Securities plc                                             0207 397 8925 

Max Hartley(Nomad), Alex Aylen (Sales)

   Bell Pottinger                                                         020 3772 2500 

David Rydell, Henry Lerwill

This information is provided by RNS

The company news service from the London Stock Exchange

END

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June 09, 2017 07:37 ET (11:37 GMT)