TIDMDFS

RNS Number : 7190O

DFS Furniture PLC

12 October 2021

12 October 2021

DFS Furniture plc

("the Company")

Grant of 2021 Awards under the Long-Term Incentive Plan (the "LTIP")

DFS Furniture Company announces the following transaction by persons discharging managerial responsibility ("PDMR") in ordinary shares of the Company with a nominal value of GBP0.10 ("Shares") took place on 11 October 2021.

The Executive Directors of DFS Furniture plc have been granted conditional shares in DFS, as part of the Company's Long-Term Incentive Plan. Under the terms of the LTIP, the quantum of the 2021 LTIP Options awarded was 150% of the equivalent salary of Tim Stacey, CEO, and 120% of the equivalent salary of Mike Schmidt and the 2021 LTIP Options were granted at an award price of GBP2.62. Under the terms of the new directors' remuneration policy to be put to a shareholder vote at the 2021 Annual General Meeting, the 2021 LTIP Options awarded shall be increased to 175% and 140% respectively. A further LTIP award in respect of the difference shall be made following approval of the shareholder resolution based on the share price prevailing at that time. The same performance measures shall apply to both 2021 LTIP Option awards.

No consideration was payable for the grant of the awards. Conditional share awards granted under the LTIP will vest after a three-year performance period, subject to achievement of the performance measures. The performance measures are based on Adjusted Earnings Per Share ("EPS") and Relative Total Shareholder Return ("TSR").

Details of the conditional share awards under the LTIP are as follows:

 
 Name            Status      Number of conditional shares 
                              awarded 
 Tim Stacey      Director    251,908 
                ----------  ----------------------------- 
 Mike Schmidt    Director    151,145 
                ----------  -----------------------------

Enquiries:

 
 DFS:                                      TULCHAN 
 Liz McDonald (Group Company               James Macey-White 
  Secretary) 
  Philip Hutchinson 
                                                      Jessica Reid 
 investor.relations@dfs.co.uk             dfs@tulchangroup.com

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 
                                             *    A. Tim Stacey 
 
 
                                            . B. Mike Schmidt 
 2    Reason for the notification 
 a)   Position/status                     . A. Chief Executive Officer 
                                           . B. 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                              DFS Furniture plc 
 b)   LEI                               213800GDSOBNKS1U1P93 
 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      Grant of options to acquire DFS Furniture 
       instrument, type of instrument    plc GBP0.10 ordinary shares 
       Identification code 
                                         ISIN: GB00BTC0LB89 
 b)   Nature of the transaction         Granting of nil cost share options under 
                                         the DFS Furniture plc 2015 Long Term Incentive 
                                         Plan 
 c)   Price(s) and volume(s)                 A. N/A 251,908 
                                              B. N/A 151,145 
 d)   Aggregated information             / 
       - Aggregated volume                A. 251,908 
       - Price                            N/A 
                                          B. 151,145 
                                          N/A 
 e)   Date of the transaction            11 October 2021 
 f)   Place of the transaction          London

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END

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October 12, 2021 02:00 ET (06:00 GMT)

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