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PEBB The Pebble Group Plc

63.50
0.00 (0.00%)
24 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
The Pebble Group Plc LSE:PEBB London Ordinary Share GB00BK71XP16 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 63.50 62.00 65.00 63.50 62.00 63.50 3,940 08:00:22
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Advertising Agencies 124.17M 5.8M 0.0346 18.35 106.33M

Pebble Group PLC (The) Grant of performance share awards under LTIP

26/03/2024 12:00pm

RNS Regulatory News


RNS Number : 3623I
Pebble Group PLC (The)
26 March 2024
 

26 March 2024

 

THE PEBBLE GROUP PLC

(the "Company")

 

Grant of performance share awards under Long Term Incentive Plan
and
Notification of transactions by PDMRs

 

The Pebble Group plc (AIM: PEBB, OTCQX: PEBBF), a leading provider of technology, services and products to the global promotional products industry, announces that on 26 March 2024 the Company made awards of 3,009,191 in the form of nil cost options or conditional share awards (Performance Shares) under The Pebble Group plc Long Term Incentive Plan (LTIP) to a number of senior employees across the Group, including to the Persons Discharging Managerial Responsibilities (PDMR), as detailed below:

 

PDMR

Number of Performance Shares

Christopher Lee

465,672

Claire Thomson

343,284

Karl Whiteside

202,626

 

The vesting of all the Performance Shares is conditional on meeting performance conditions measured over a three-year period as described below.

 

Performance conditions

 

1. Adjusted Earnings Per Share ("EPS") Target[1]

Up to 70% of the total Performance Shares will vest dependent upon the achievement of cumulative adjusted EPS targets for the three years ending 31 December 2026, determined as follows:

 

Cumulative Adjusted EPS for the three year period to 31 December 2026

Portion of Ordinary Shares vesting subject to Adjusted EPS target

Below 15.5p

No vesting

15.5p

25%

16.4p

60%

17.4p or more

100%

 

2. Total Shareholder Return ("TSR") Target

Up to 30% of the total Performance Shares will vest dependent upon the performance of the Company's Absolute TSR measured over the three year period ending 31 December 2026.  The share price at the start of this period was 60.2pence, being the average closing price of the Company's shares over the three trading days ending on the day before the start of the performance period.

 

Annualised TSR for the three year period to 31 December 2026

Portion of Ordinary Shares vesting subject to TSR Target

Below 8.0% per annum

No vesting

8.0% per annum

25%

11.3% per annum

60%

15% per annum

100%

 

A holding period of two years from date of vesting is applicable to the LTIP awards granted to the Executive Directors of the Company.

The making of these awards at these levels and with these performance conditions is considered by the Remuneration Committee to be in accordance with the Company's Remuneration Policy with regard to the Executive Directors.

The Remuneration Committee has discretion to adjust the level of vesting if in its opinion such level of vesting resulting from the application of the performance conditions is considered not to be a fair and accurate reflection of the performance of the Company or a fair and accurate reflection of the award holder's performance or where there is any other factor or any other circumstances which would make the level of vesting inappropriate without adjustment.

The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014: 

1

Details of the person discharging managerial responsibilities/person closely associated

(a)

Name

1.    Christopher Lee

2.    Claire Thomson

3.    Karl Whiteside

 

2

Reason for the notification

(a)

Position/status

1.    Chief Executive Officer

2.    Chief Financial Officer

3.    Group MD, Brand Addition

(b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

(a)

Name

The Pebble Group plc

(b)

LEI

213800LZUQAYBHDEQY04

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 instrument, type of instrument

Identification code

Ordinary shares of 1 pence each

ISIN GB00BK71XP16

PEBB.L

 

(b)

Nature of the transaction

Award of nil-cost options or conditional share awards pursuant to The Pebble Group plc Long Term Incentive Plan

(c)

Price(s) and volume(s)


Price(s)

Volume(s)

1

2

3

NIL

NIL

NIL

465,672

343,284

202,626

 

(d)

Aggregated information

-         Aggregated volume

-         Price

N/A

(e)

Date of the transaction

26 March 2024

(f)

Place of the transaction

Outside a trading venue

 

Enquiries: 

The Pebble Group

Chris Lee, Chief Executive Officer

Claire Thomson, Chief Financial Officer

+44 (0) 750 012 4121

Temple Bar Advisory (Financial PR)

Alex Child-Villiers

Sam Livingstone

+44 (0) 207 183 1190

pebble@templebaradvisory.com 

 

Grant Thornton UK LLP (Nominated Adviser)

Samantha Harrison / Harrison Clarke / Ciara Donnelly

+44 (0) 207 184 4384

Berenberg (Corporate Broker)

Ben Wright / Mark Whitmore / Richard Andrews

+44 (0) 203 207 7800 

 

About The Pebble Group

The Pebble Group is a provider of digital commerce, products and related services to the global promotional products industry, comprising two differentiated businesses, Facilisgroup and Brand Addition, focused on specific areas of the promotional products market. For further information, please visit www.thepebblegroup.com.



[1] Adjusted basic earnings per share represents Adjusted Earnings meaning profit after tax before amortisation of acquired intangible assets, share-based payments charge and exceptional items divided by a weighted average number of shares. It may also include adjustments as the Remuneration Committee of the Board, in its absolute discretion, may determine.

 

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.

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