Safestyle UK PLC Grant of Options (4298J)

TIDMSFE

RNS Number : 4298J

Safestyle UK PLC

16 August 2023

16 August 2023

Safestyle UK plc

("Safestyle", the "Company" or the "Group")

Grant of Options

Safestyle UK plc, the leading retailer and manufacturer of PVCu replacement windows and doors for the UK homeowner market, announces that, on 11 August 2023, the Group granted to Rob Neale (Chief Executive Officer), Phil Joyner (Chief Financial Officer) and Michelle Williams (Chief People Officer) an aggregate of 2,276,000 nil -- cost options over ordinary shares of 1 pence each in the Group (the "Options") under the Safestyle UK plc 2017 Performance Share Plan as follows:

 
 Name of individual    No. shares    % of issued      Total number     Director's 
                        subject to    share capital    of options       interest in 
                        option                         over ordinary    the Group's 
                                                       shares           issued share 
                                                                        capital (excl. 
                                                                        options) 
 Rob Neale             1,140,000     0.82%            1,920,348        784,954 
                      ------------  ---------------  ---------------  ---------------- 
 Michelle Williams     560,000       0.40%            885,047          134,604 
                      ------------  ---------------  ---------------  ---------------- 
 Phil Joyner           576,000       0.41%            725,348          189,090 
                      ------------  ---------------  ---------------  ---------------- 
 

The Options are subject to continued employment, achievement of EPS performance targets (as regards 75% of the award) and absolute Total Shareholder Return ('TSR') performance (as regards 25% of the award) for the year ending 28 December 2025. The two targets incentivise the Executive Directors to deliver both earnings and share price growth.

The EPS and TSR targets will be set out in the Group's Annual Report and Accounts for the year ending 31 December 2023 that will be issued following the Group's Preliminary Results Announcement at the end of March 2024.

Subject to the achievement of the above targets, these options will vest 3 years from the date of the grant on 12 August 2026.

In total 9,177,238 share options, which includes all existing options issued under the Group's sharesave schemes, are now outstanding representing approximately 6.6% per cent of the Group's current issued share capital. The total number of ordinary shares currently in issue is 138,867,384.

The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation is appended below.

Enquiries:

 
 Safestyle UK plc                              via FTI Consulting 
  Rob Neale, Chief Executive Officer 
  Phil Joyner, Chief Financial Officer 
 Zeus (Nominated Adviser & Joint Broker)       Tel: [phone] 
  Dan Bate / James Edis (Investment Banking) 
  Dominic King (Corporate Broking) 
 Liberum Capital Limited (Joint Broker)        Tel: [phone] 
  Jamie Richards / William King 
 FTI Consulting (Financial PR)                 Tel: [phone] 
  Alex Beagley / Sam Macpherson / Amy Goldup 
 

The notification below is made in accordance with the requirements of the EU Market Abuse Regulation.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                   Rob Neale 
     ---------------------  ------------------------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status        CEO 
     ---------------------  ------------------------------------------------ 
 b)   Initial notification   Initial notification 
       /Amendment 
     ---------------------  ------------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                   Safestyle UK plc 
     ---------------------  ------------------------------------------------ 
 b)   LEI                    213800N1ZQBB3E7P8W75 
     ---------------------  ------------------------------------------------ 
 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 GBP0.01 each 
       of the financial 
       instrument, 
       type of instrument 
 
       Identification         ISIN: JE00BGP63272 
       code 
     ---------------------  ------------------------------------------------ 
 b)   Nature of the          Grant of nil-cost options 
       transaction 
     ---------------------  ------------------------------------------------ 
 c)   Price(s) and                        Price               No. of shares 
       volume(s)                           Nil                 1,140,000 
                                                   ------------------------- 
     ---------------------  ------------------------------------------------ 
 d)   Aggregated             N/A 
       information 
       - Aggregated 
       volume 
       - Price 
     ---------------------  ------------------------------------------------ 
 e)   Date of the            11 August 2023 
       transaction 
     ---------------------  ------------------------------------------------ 
 f)   Place of the           Outside a trading venue 
       transaction 
     ---------------------  ------------------------------------------------ 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                   Michelle Williams 
     ---------------------  ------------------------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status        Chief People Officer 
     ---------------------  ------------------------------------------------ 
 b)   Initial notification   Initial notification 
       /Amendment 
     ---------------------  ------------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                   Safestyle UK plc 
     ---------------------  ------------------------------------------------ 
 b)   LEI                    213800N1ZQBB3E7P8W75 
     ---------------------  ------------------------------------------------ 
 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 GBP0.01 each 
       of the financial 
       instrument, 
       type of instrument 
 
       Identification         ISIN: JE00BGP63272 
       code 
     ---------------------  ------------------------------------------------ 
 b)   Nature of the          Grant of nil-cost options 
       transaction 
     ---------------------  ------------------------------------------------ 
 c)   Price(s) and                        Price               No. of shares 
       volume(s)                           Nil                 560,000 
                                                   ------------------------- 
     ---------------------  ------------------------------------------------ 
 d)   Aggregated             N/A 
       information 
       - Aggregated 
       volume 
       - Price 
     ---------------------  ------------------------------------------------ 
 e)   Date of the            11 August 2023 
       transaction 
     ---------------------  ------------------------------------------------ 
 f)   Place of the           Outside a trading venue 
       transaction 
     ---------------------  ------------------------------------------------ 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                   Phil Joyner 
     ---------------------  ------------------------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status        CFO 
     ---------------------  ------------------------------------------------ 
 b)   Initial notification   Initial notification 
       /Amendment 
     ---------------------  ------------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                   Safestyle UK plc 
     ---------------------  ------------------------------------------------ 
 b)   LEI                    213800N1ZQBB3E7P8W75 
     ---------------------  ------------------------------------------------ 
 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 GBP0.01 each 
       of the financial 

       instrument, 
       type of instrument 
 
       Identification         ISIN: JE00BGP63272 
       code 
     ---------------------  ------------------------------------------------ 
 b)   Nature of the          Grant of nil-cost options 
       transaction 
     ---------------------  ------------------------------------------------ 
 c)   Price(s) and                        Price               No. of shares 
       volume(s)                           Nil                 576,000 
                                                   ------------------------- 
     ---------------------  ------------------------------------------------ 
 d)   Aggregated             N/A 
       information 
       - Aggregated 
       volume 
       - Price 
     ---------------------  ------------------------------------------------ 
 e)   Date of the            11 August 2023 
       transaction 
     ---------------------  ------------------------------------------------ 
 f)   Place of the           Outside a trading venue 
       transaction 
     ---------------------  ------------------------------------------------ 
 

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August 16, 2023 02:00 ET (06:00 GMT)