Churchill China PLC Grant of Options under LTIP (6563D)
22 Junio 2023 - 12:20PM
UK Regulatory
TIDMCHH
RNS Number : 6563D
Churchill China PLC
22 June 2023
For immediate release 22 June 2023
CHURCHILL CHINA plc
("Churchill" or the "Company" or the "Group")
Grant of Options under LTIP
Churchill China plc (AIM: CHH), the manufacturer of innovative
performance ceramic products serving hospitality markets worldwide,
announces that on 21 June 2023, the following options over 10p
ordinary shares in the Company ("Ordinary Shares") were granted to
persons discharging managerial responsibilities ("PDMRs") under the
Churchill China Long Term Incentive Plan ("CCLTIP") (the
"Grants"):
Director Position Number of Exercise Market Price
Options Over Price at Date of
Ordinary Shares Grant
granted
Chief Executive
David O'Connor Officer 24,425 10p 1,375p
----------------- ----------------- --------- -------------
Sales and
Marketing
James Roper Director 18,945 10p 1,375p
----------------- ----------------- --------- -------------
Chief Financial
Michael Cunningham Officer 14,545 10p 1,375p
----------------- ----------------- --------- -------------
In addition, 30,096 Grants were made to employees who are
non-PDMRs.
The Grants are subject to the achievement of performance
criteria as specified by the Remuneration Committee and are subject
to claw back provisions in certain circumstances. The performance
conditions require that the Company's adjusted (pre-exceptional
items and adjusted for pension interest charges and credits)
earnings per share ("Adjusted EPS") for the financial year ending
31 December 2025 reaches the following figures for each level of
vesting:
Adjusted EPS for % of Grant that
year ending 31 Vests
December 2025
81.0 25%
----------------
90.0 40%
----------------
94.5 100%
----------------
Between these target levels, share options will vest on a
straight-line basis and shares will vest, subject to the
achievement of these performance conditions, from 21 June 2026.
The Grant values represent 100 per cent of the current base
annual salary for each of David O'Connor, James Roper and Michael
Cunningham.
Resultant Holdings
Following the Grants, David O'Connor, James Roper and Michael
Cunningham hold options over Ordinary Shares as follows:
Director Options Held Option Exercise Expiry Date
Price
David O'Connor 21,977 10p 28.06.2032
------------- ---------------- ------------
David O'Connor 17,856 10p 11.06.2031
------------- ---------------- ------------
David O'Connor 24,425 10p 21.06.2033
------------- ---------------- ------------
James Roper 17,046 10p 28.06.2032
------------- ---------------- ------------
James Roper 13,641 10p 11.06.2031
------------- ---------------- ------------
James Roper 18,945 10p 21.06.2033
------------- ---------------- ------------
Michael Cunningham 14,545 10p 21.06.2033
------------- ---------------- ------------
For further information, please contact:
Churchill China plc Tel: 01782 577566
David O'Connor / James Roper / Michael
Cunningham
Buchanan Tel: 020 7466 5000
Mark Court / Abigail Gilchrist
ChurchillChina@buchanan.uk.com
Investec Tel: 020 7597 5970
David Flin / Alex Wright / William
Brinkley
Notification and public disclosure of transactions by Persons
Discharging Managerial Responsibilities ("PDMR") and persons
closely associated with them ("PCA")
Notification of a Transaction pursuant to Article 19(1) of Regulation
(EU) No. 596/2014
1 Details of the person discharging managerial responsibilities/person
closely associated
---- -----------------------------------------------------------------------
a. Name Michael Cunningham
-------------------------------
2 Reason for notification
-------------------------------------- -------------------------------
a. Position/Status 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 Churchill China plc
--------------------------------------
b. LEI 213800GQ51I4LZQ5AR09
-------------------------------------- -------------------------------
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 Ordinary Shares of 10p each
the financial
instrument, type
of instrument
ISIN: GB0001961035
Identification
Code
-------------------------------------- -------------------------------
b. Nature of the Grant of options
transaction
-------------------------------------- -------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
10p 14,545
----------
-------------------------------------- -------------------------------
d. Aggregated information
N/A - Single Transaction
-------------------------------------- -------------------------------
e. Date of the transaction 21/06/2023
-------------------------------------- -------------------------------
f. Place of the transaction Off market
-------------------------------------- -------------------------------
Notification of a Transaction pursuant to Article 19(1) of Regulation
(EU) No. 596/2014
1 Details of the person discharging managerial responsibilities/person
closely associated
---- -----------------------------------------------------------------------
a. Name David O'Connor
-------------------------------
2 Reason for notification
-------------------------------------- -------------------------------
a. Position/Status Chief Executive Officer
-------------------------------------- -------------------------------
b. Initial notification/ Initial Notification
Amendment
-------------------------------------- -------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a. Name Churchill China plc
--------------------------------------
b. LEI 213800GQ51I4LZQ5AR09
-------------------------------------- -------------------------------
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 Ordinary Shares of 10p each
the financial
instrument, type
of instrument
ISIN: GB0001961035
Identification
Code
-------------------------------------- -------------------------------
b. Nature of the Grant of Options
transaction
-------------------------------------- -------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
10p 24,425
----------
-------------------------------------- -------------------------------
d. Aggregated information
N/A - Single Transaction
-------------------------------------- -------------------------------
e. Date of the transaction 21/06/2023
-------------------------------------- -------------------------------
f. Place of the transaction Off market
-------------------------------------- -------------------------------
Notification of a Transaction pursuant to Article 19(1) of Regulation
(EU) No. 596/2014
1 Details of the person discharging managerial responsibilities/person
closely associated
---- -----------------------------------------------------------------------
a. Name James Roper
-------------------------------
2 Reason for notification
-------------------------------------- -------------------------------
a. Position/Status Sales and Marketing Director
-------------------------------------- -------------------------------
b. Initial notification/ Initial Notification
Amendment
-------------------------------------- -------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------
a. Name Churchill China plc
--------------------------------------
b. LEI 213800GQ51I4LZQ5AR09
-------------------------------------- -------------------------------
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 Ordinary Shares of 10p each
the financial
instrument, type
of instrument
ISIN: GB0001961035
Identification
Code
-------------------------------------- -------------------------------
b. Nature of the Grant of Options
transaction
-------------------------------------- -------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
10p 18,945
* Transaction 1 ----------
-------------------------------------- -------------------------------
d. Aggregated information
N/A - Single Transaction
-------------------------------------- -------------------------------
e. Date of the transaction 21/06/2023
-------------------------------------- -------------------------------
f. Place of the transaction Off market
-------------------------------------- -------------------------------
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END
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June 22, 2023 13:20 ET (17:20 GMT)
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