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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Stobart Group Ld | LSE:STOB | London | Ordinary Share | GB00B03HDJ73 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 34.50 | 34.55 | 34.95 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMSTOB
RNS Number : 8470E
Stobart Group Limited
08 July 2019
8 July 2019
Stobart Group Limited
("Stobart Group")
Director/PDMR Shareholding
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
LTIP Awards in respect of FY20
On 3 July 2019 Stobart Group granted awards over its ordinary shares under the Stobart Group Limited Long Term Incentive Plan 2014 (the "LTIP"), as noted below.
Hot Features
Premium
Name Number of shares subject to
award
Warwick Brady (75% of salary) 303,686
----------------------------
Nick Dilworth (150% of salary) 348,376
----------------------------
Lewis Girdwood (100% of salary) 225,858
----------------------------
The performance targets attached to these awards are cumulative three year EPS targets to FY22 and three-year Total Shareholder Return ("TSR") (weighted equally), as set out in the table below:
Vesting 3 year cumulative Stobart Group's
EPS three-year TSR
----------
Threshold 25% of maximum 4.4p Equal to the TSR
performance of
the FTSE 250
---------------- ------------------ -----------------
Stretch 100% of maximum 14.1p Equal to the TSR
performance of
the FTSE 250 +
10% p.a.
---------------- ------------------ -----------------
The cumulative EPS range represents compound annual growth in underlying EBITDA of over 60% per annum for threshold performance and compound annual growth in underlying EBITDA of over 80% per annum for stretch performance, when compared to the EBITDA outturn for FY19 (this comparison cannot be made for EPS given the starting EPS for FY19 was negative). This illustrates the stretching nature of the targets.
In line with the Directors' Remuneration Policy, if both the EPS and the TSR elements exceed stretch performance levels, the participants will be eligible to receive a multiplier of their awards based on the performance levels set out in the table below:
Stobart Group's TSR % outperformance Multiplier
of the FTSE 250 Index
Less than 15% 1.00x
-----------
+15% per annum 1.17x
-----------
+20% per annum 1.33x
-----------
+25% per annum 1.5x
-----------
+30% per annum 1.67x
-----------
+35% per annum 1.83x
-----------
+40% per annum or more 2.00x
-----------
Additional LTIP grant in respect of FY19
As described on page 66 of Stobart Group's FY19 Annual Report and Accounts, it had been intended to grant Nick Dilworth an additional LTIP award in respect of FY19 equal to 75% of his salary at the date of his appointment to Stobart Group's board. However, that grant was delayed due to regulatory restrictions. Therefore, an award over 127,660 shares (determined by reference to a share price of GBP1.88, being the share price when the Remuneration Committee agreed to grant the additional award) was also granted on 3 July 2019. The award will vest on 20 June 2021, subject to the satisfaction of the performance conditions set out on page 66 of Stobart Group's FY19 Annual Report and Accounts, including the application of the multiplier.
The person responsible for arranging the release of this announcement on behalf of Stobart Group is Louise Brace, Company Secretary.
Enquiries:
Stobart Group Limited Charlie Geller, Head of Group Communications C/o Newgate Communications Newgate Communications Tel: 020 3757 6880 Robin Tozer Email: Stobart@newgatecomms.com
FY20 LTIP awards
1 Details of the person discharging managerial responsibilities / person closely associated
(a) Name (i) Warwick Brady
(ii) Nick Dilworth
(iii) Lewis Girdwood
-------------------------------------------------- ---------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------
(a) Position/Status (i) Chief Executive
(ii) Chief Operating Officer
(iii) Chief Financial Officer
-------------------------------------------------- ---------------------------------------------
(b) Initial notification Initial notification
/ Amendment
-------------------------------------------------- ---------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-------------------------------------------------------------------------------------------------
(a) Name Stobart Group Limited
-------------------------------------------------- ---------------------------------------------
(b) LEI 213800BINQVRZFKA3E89
-------------------------------------------------- ---------------------------------------------
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 of the financial Ordinary Shares of 10p each in the
instrument, type of capital of Stobart Group Limited
instrument
ISIN: GB00B03HDJ73
Identification Code
-------------------------------------------------- ---------------------------------------------
(b) Nature of the transaction Grant of FY20 awards under the Stobart
Group Limited Long Term Incentive
Plan 2014
-------------------------------------------------- ---------------------------------------------
(c) Price(s) and volume(s) Price: Nil Volumes:
(i) 303,686
(ii) 348,376
(iii) 225,858
-------------------------------------------------- ------------------ -------------------------
(d) Aggregated Information N/A
- Aggregated Volume
- Price
-------------------------------------------------- ---------------------------------------------
(e) Date of the Transaction 3 July 2019
-------------------------------------------------- ---------------------------------------------
(f) Place of the Transaction Outside a trading venue
-------------------------------------------------- ---------------------------------------------
Additional FY19 LTIP award
1 Details of the person discharging managerial responsibilities / person closely associated
(a) Name Nick Dilworth
------------------------------------------------- ----------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------
(a) Position/Status Chief Operating Officer
------------------------------------------------- ----------------------------------------------
(b) Initial notification Initial notification
/ Amendment
------------------------------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-------------------------------------------------------------------------------------------------
(a) Name Stobart Group Limited
------------------------------------------------- ----------------------------------------------
(b) LEI 213800BINQVRZFKA3E89
------------------------------------------------- ----------------------------------------------
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 of the financial Ordinary Shares of 10p each in the
instrument, type of capital of Stobart Group Limited
instrument
ISIN: GB00B03HDJ73
Identification Code
------------------------------------------------- ----------------------------------------------
(b) Nature of the transaction Grant of additional FY19 award under
the Stobart Group Limited Long Term
Incentive Plan 2014
------------------------------------------------- ----------------------------------------------
(c) Price(s) and volume(s) Price: Nil Volume: 127,660
------------------------------------------------- ------------------ --------------------------
(d) Aggregated Information N/A
- Aggregated Volume
- Price
------------------------------------------------- ----------------------------------------------
(e) Date of the Transaction 3 July 2019
------------------------------------------------- ----------------------------------------------
(f) Place of the Transaction Outside a trading venue
------------------------------------------------- ----------------------------------------------
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.
END
DSHSSLFIAFUSEEW
(END) Dow Jones Newswires
July 08, 2019 11:27 ET (15:27 GMT)
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