Johnson Service Group PLC Director/PDMR Shareholding (9877E)
16 Marzo 2022 - 5:41AM
UK Regulatory
TIDMJSG
RNS Number : 9877E
Johnson Service Group PLC
16 March 2022
16 March 2022
AIM: JSG
Johnson Service Group PLC
NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITY AND CONNECTED PERSONS
Grant of 2022 Long-Term Incentive Plan Awards
Johnson Service Group PLC (the 'Company' or the 'Group' )
announces that it has today granted nil cost options over ordinary
shares of 10 pence each in the Company under the Johnson Service
Group 2018 Long-Term Incentive Plan (the '2022 LTIP Award').
The number of options granted to each of the Executive Directors
is as follows:
Peter Egan, Chief Executive
Officer 469,029
Yvonne Monaghan, Chief Financial
Officer 309,743
The above options may be exercised on or after 16 March 2025,
subject to the satisfaction of performance conditions over the
three financial years ending 31 December 2024.
Performance Conditions and Vesting
In determining the performance conditions, the Committee has
taken into account the Group's business plan as well as the outlook
for the sector, general macroeconomic conditions and the range of
analysts' consensus forecasts for the financial year ending 31
December 2024. Following careful consideration, the Committee has
agreed two separate performance targets. The specific performance
conditions are set out below.
Total Shareholder Return
50 per cent of the 2022 LTIP Award will vest by reference to the
annualised growth in the Company's net return index ('TSR') over
the performance period relative to the annualised growth in the
FTSE AIM All-Share Industrial Goods and Services net return index
(the 'Index') over the performance period. None of this element of
the 2022 LTIP Award will vest if the TSR growth is less than the
Index growth, one quarter will vest if the TSR growth is equal to
the Index growth and the whole of this element of the 2022 LTIP
Award will vest if the TSR growth is at least seven per cent above
the Index growth. Vesting will be on a straight-line basis between
these points.
Earnings per Share
The remaining 50 per cent of the 2022 LTIP Award will vest by
reference to the Company's adjusted fully diluted earnings per
share from continuing operations ('EPS') as at 31 December 2024.
None of this element of the 2022 LTIP Award will vest if EPS is
less than 9.5 pence, one quarter will vest if EPS is equal to 9.5
pence and the whole of this element of the 2022 LTIP Award will
vest if EPS is 10.6 pence or greater. Vesting will be on a
straight-line basis if EPS is between 9.5 pence and 10.6 pence.
Further Holding Period
The 2022 LTIP Award is subject to an additional holding period
of two years from the date on which the 2022 LTIP Award vests (the
'Holding Period'). During the Holding Period, the 2022 LTIP Award
holder may not normally dispose of any of the shares which vest
except to cover any income tax or social security contributions
arising on the exercise of the 2022 LTIP Award.
Malus, Clawback and Committee Discretion
In line with its Remuneration Policy, the Committee can apply
malus and clawback provisions to the 2022 LTIP Award and has
discretion to vary formulaic outturns where they do not reflect
underlying performance or are inappropriate in the context of
unexpected or unforeseen circumstances.
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 Peter Egan
-------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------
a) Position / Status Chief Executive Officer / PDMR
-------------------------- -----------------------------------------
b) Initial Notification Initial notification
/ Amendment
-------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Entity legal name Johnson Service Group PLC
-------------------------- -----------------------------------------
b) Entity LEI 2138004WZUPWV53KWV11
-------------------------- -----------------------------------------
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 Options over ordinary shares of 10 pence
securities each
Identification code GB0004762810
-------------------------- -----------------------------------------
b) Nature of the transaction Grant of options
-------------------------- -----------------------------------------
c) Individual transaction Price Volume
price(s) and volume(s) GBPnil 469,029
--------
-------------------------- -----------------------------------------
d) Aggregated price and Grant of 469,029 options over ordinary
volume shares of 10 pence each at an exercise
price of GBPnil
-------------------------- -----------------------------------------
e) Date of the transaction 16 March 2022
-------------------------- -----------------------------------------
f) Place of the transaction Outside of a trading platform
-------------------------- -----------------------------------------
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 Yvonne Monaghan
-------------------------- -----------------------------------------
2. Reason for the Notification
---------------------------------------------------------------------
a) Position / Status Chief Financial Officer / PDMR
-------------------------- -----------------------------------------
b) Initial Notification Initial notification
/ Amendment
-------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Entity legal name Johnson Service Group PLC
-------------------------- -----------------------------------------
b) Entity LEI 2138004WZUPWV53KWV11
-------------------------- -----------------------------------------
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 Options over ordinary shares of 10 pence
securities each
Identification code GB0004762810
-------------------------- -----------------------------------------
b) Nature of the transaction Grant of options
-------------------------- -----------------------------------------
c) Individual transaction Price Volume
price(s) and volume(s) GBPnil 309,743
--------
-------------------------- -----------------------------------------
d) Aggregated price and Grant of 309,743 options over ordinary
volume shares of 10 pence each at an exercise
price of GBPnil
-------------------------- -----------------------------------------
e) Date of the transaction 16 March 2022
-------------------------- -----------------------------------------
f) Place of the transaction Outside of a trading platform
-------------------------- -----------------------------------------
Enquiries:
Johnson Service Group PLC
Peter Egan, CEO
Yvonne Monaghan, CFO
Tel: 01928 704 600
Investec Investment Banking Camarco (Financial PR)
(NOMAD) Ginny Pulbrook
David Flin Rosie Driscoll
Carlton Nelson Toby Strong
Virginia Bull Tel: 020 3757 4992
Tel: 020 7597 5970
www.jsg.com
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END
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March 16, 2022 07:41 ET (11:41 GMT)
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