TIDMPGH

RNS Number : 5868U

Personal Group Holdings PLC

07 April 2021

 
   07 April 2021 
 

Personal Group Holdings Plc

("the Company" or "Group")

Long Term Incentive Plan Awards

Personal Group Holdings Plc (AIM: PGH), the technology-enabled employee benefits and services provider, announces the grant of share awards under the Personal Group Holdings Plc 2021 Long Term Incentive Plan (the "LTIP"). The LTIP has been established in order to reward and incentivise the senior executives to deliver sustainable growth for the Company and to create material value for shareholders.

The 2021 Plan replaces the LTIP that Personal Group has had in place since 2012 and which expired early 2020. The awards are in the form of an option over ordinary shares in the Company, which vest subject to the achievement of certain performance criteria and which have a nominal value exercise price of GBP0.05 per share (the "Awards").

The vesting of the Awards is subject to the satisfaction of performance conditions assessed over the three financial years ending 31 December 2023. Once vested, the options may be exercised at any time until the tenth anniversary of the Award date. The Awards are subject to claw back and malus provisions.

Performance conditions

The Awards are subject to attainment of targets over three areas:

- Total shareholder return - 50% of Award, with 25% vesting at achievement of threshold target, 100% vesting at maximum target, and a linear sliding scale between 25% and 100%.

- EBITDA - 35% of Award, with 25% vesting at achievement of threshold 3-year cumulative target, 100% vesting at maximum target, and a linear sliding scale between 25% and 100%.

- ESG Measures - 15% of Award, with 100% vesting where the Remuneration Committee ascertains that all performance measures have been adequately met.

The core performance measures underpinning the vesting of awards under the LTIP are the delivery of at least 7% per annum cumulative TSR growth up to a maximum of 15% TSR for full vesting, and EBITDA of at least GBP27m up to a maximum of GBP35m, in aggregate over the three financial years ending 31 December 2023. The ESG targets relate to reducing CO(2) usage, having a positive social impact on the communities where the Group trades and continuing to ensure robust governance.

On 6 April 2021, Awards were granted to the following individuals:

 
 PDMR                                 Number of options 
                                       over ordinary 
                                       shares subject 
                                       to Award 
 Deborah Frost - Chief Executive           206,047 
                                     ------------------ 
 Sarah Mace - Chief Financial 
  Officer                                  62,438 
                                     ------------------ 
 Ashley Doody - Chief Information 
  Officer                                  49,951 
                                     ------------------ 
 Rebekah Tapping - Group HR 
  Director                                 49,951 
                                     ------------------ 
 Karen Thornley - Chief Commercial 
  Officer                                  49,951 
                                     ------------------ 
 Richard Thompson - MD Let's 
  Connect                                  49,951 
                                     ------------------ 
 

In addition to the Awards detailed above, on 6 April 2021 a further award of 29,615 options over ordinary shares was granted to Deborah Frost. These options will vest on 31 March 2022 and have no performance conditions attached to them other than the requirement for Deborah to remain with the Group on the date of vesting. In July 2020, the Remuneration Committee approved that the award, which had an equivalent value of GBP75,000 at that time, be made to Deborah once the new LTIP mechanism had been established, in recognition of her contributions since joining the Group. These will also be in the form of nil cost options.

Personal Group recognises the importance of rewarding all its employees for their contributions and has several broader incentivisation schemes in place in addition to the above, including a Company Share Option Scheme.

The Grant of the Awards constitutes a related party transaction for the purposes of AIM Rule 13. The independent directors consider, having consulted with the Company's nominated adviser, that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.

Further detail is provided below in accordance with Article 19.3 of the EU Market Abuse Regulation.

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                           Deborah Frost 
     -----------------------------  ------------------------------------------ 
 2    Reason for the notification 
     ------------------------------------------------------------------------- 
 a)   Position/status                Chief Executive Officer 
     -----------------------------  ------------------------------------------ 
 b)   Initial notification           Initial 
       / Amendment 
     -----------------------------  ------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------- 
 a)   Name                           Personal Group Holdings Plc 
     -----------------------------  ------------------------------------------ 
 b)   LEI                            213800TN8BH2YYWAH345 
     -----------------------------  ------------------------------------------ 
 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 
       financial instrument,          5p each 
       type of instrument             ISIN: GB0002760279 
       Identification code 
     -----------------------------  ------------------------------------------ 
 b)   Nature of the transaction      Grant of options over ordinary shares 
                                      of GBP0.05 each pursuant to Company's 
                                      long term incentive plan 
     -----------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)          Price(s)          Volume(s) 
                                       Exercise price 
                                        of GBP0.05 
                                        per share        206,047 
                                                        ---------- 
     -----------------------------  ------------------------------------------ 
 d)   Aggregated information          N/A - single transaction 
       - Aggregated volume 
       - Price 
     -----------------------------  ------------------------------------------ 
 e)   Date of the transaction        6 April 2021 
     -----------------------------  ------------------------------------------ 
 f)   Place of the transaction       Outside a trading venue 
     -----------------------------  ------------------------------------------ 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                           Sarah Mace 
     -----------------------------  ------------------------------------------ 
 2    Reason for the notification 
     ------------------------------------------------------------------------- 
 a)   Position/status                Chief Financial Officer 
     -----------------------------  ------------------------------------------ 
 b)   Initial notification           Initial 
       / Amendment 
     -----------------------------  ------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------- 
 a)   Name                           Personal Group Holdings Plc 
     -----------------------------  ------------------------------------------ 
 b)   LEI                            213800TN8BH2YYWAH345 
     -----------------------------  ------------------------------------------ 
 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             Grant of options over ordinary shares 
       financial instrument,          of 5p each 
       type of instrument             ISIN: GB0002760279 
       Identification code 
     -----------------------------  ------------------------------------------ 
 b)   Nature of the transaction      Grant of options over ordinary shares 
                                      of GBP0.05 each pursuant to Company's 
                                      long term incentive plan 
     -----------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)          Price(s)          Volume(s) 
                                       Exercise price 
                                        of GBP0.05 
                                        per share        62,438 
                                                        ---------- 
     -----------------------------  ------------------------------------------ 
 d)   Aggregated information          N/A - single transaction 
       - Aggregated volume 
       - Price 
     -----------------------------  ------------------------------------------ 
 e)   Date of the transaction        6 April 2021 
     -----------------------------  ------------------------------------------ 
 f)   Place of the transaction       Outside a trading venue 
     -----------------------------  ------------------------------------------ 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                           Ashley Doody 
     -----------------------------  ------------------------------------------ 
 2    Reason for the notification 
     ------------------------------------------------------------------------- 
 a)   Position/status                Chief Information Officer 
     -----------------------------  ------------------------------------------ 
 b)   Initial notification           Initial 
       / Amendment 
     -----------------------------  ------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------- 
 a)   Name                           Personal Group Holdings Plc 
     -----------------------------  ------------------------------------------ 
 b)   LEI                            213800TN8BH2YYWAH345 
     -----------------------------  ------------------------------------------ 
 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 ordinary shares of 5p each 
       financial instrument,          ISIN: GB0002760279 
       type of instrument 
       Identification code 
     -----------------------------  ------------------------------------------ 
 b)   Nature of the transaction      Grant of options over ordinary shares 
                                      of GBP0.05 each pursuant to Company's 
                                      long term incentive plan 
     -----------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)          Price(s)          Volume(s) 
                                       Exercise price 
                                        of GBP0.05 
                                        per share        49,951 
                                                        ---------- 
     -----------------------------  ------------------------------------------ 
 d)   Aggregated information          N/A - single transaction 
       - Aggregated volume 
       - Price 
     -----------------------------  ------------------------------------------ 
 e)   Date of the transaction        6 April 2021 
     -----------------------------  ------------------------------------------ 
 f)   Place of the transaction       Outside a trading venue 
     -----------------------------  ------------------------------------------ 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                           Rebekah Tapping 
     -----------------------------  ------------------------------------------ 
 2    Reason for the notification 
     ------------------------------------------------------------------------- 
 a)   Position/status                Group HR Director 
     -----------------------------  ------------------------------------------ 
 b)   Initial notification           Initial 
       / Amendment 
     -----------------------------  ------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------- 
 a)   Name                           Personal Group Holdings Plc 
     -----------------------------  ------------------------------------------ 
 b)   LEI                            213800TN8BH2YYWAH345 
     -----------------------------  ------------------------------------------ 
 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 
       financial instrument,          5p each 
       type of instrument             ISIN: GB0002760279 
       Identification code 
     -----------------------------  ------------------------------------------ 
 b)   Nature of the transaction      Grant of options over ordinary shares 
                                      of GBP0.05 each pursuant to Company's 
                                      long term incentive plan 
     -----------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)          Price(s)          Volume(s) 
                                       Exercise price 
                                        of GBP0.05 
                                        per share        49,951 
                                                        ---------- 
     -----------------------------  ------------------------------------------ 
 d)   Aggregated information          N/A - single transaction 
       - Aggregated volume 
       - Price 
     -----------------------------  ------------------------------------------ 
 e)   Date of the transaction        6 April 2021 
     -----------------------------  ------------------------------------------ 
 f)   Place of the transaction       Outside a trading venue 
     -----------------------------  ------------------------------------------ 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                           Karen Thornley 
     -----------------------------  ------------------------------------------ 
 2    Reason for the notification 
     ------------------------------------------------------------------------- 
 a)   Position/status                Chief Commercial Officer 
     -----------------------------  ------------------------------------------ 
 b)   Initial notification           Initial 
       / Amendment 
     -----------------------------  ------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------- 
 a)   Name                           Personal Group Holdings Plc 
     -----------------------------  ------------------------------------------ 
 b)   LEI                            213800TN8BH2YYWAH345 
     -----------------------------  ------------------------------------------ 
 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 
       financial instrument,          5p each 
       type of instrument             ISIN: GB0002760279 
       Identification code 
     -----------------------------  ------------------------------------------ 
 b)   Nature of the transaction      Grant of options over ordinary shares 
                                      of GBP0.05 each pursuant to Company's 
                                      long term incentive plan 
     -----------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)          Price(s)          Volume(s) 
                                       Exercise price 
                                        of GBP0.05 
                                        per share        49,951 
                                                        ---------- 
     -----------------------------  ------------------------------------------ 
 d)   Aggregated information          N/A - single transaction 
       - Aggregated volume 
       - Price 
     -----------------------------  ------------------------------------------ 
 e)   Date of the transaction        6 April 2021 
     -----------------------------  ------------------------------------------ 
 f)   Place of the transaction       Outside a trading venue 
     -----------------------------  ------------------------------------------ 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                           Richard Thompson 
     -----------------------------  ------------------------------------------ 
 2    Reason for the notification 
     ------------------------------------------------------------------------- 
 a)   Position/status                Managing Director, Let's Connect 
     -----------------------------  ------------------------------------------ 
 b)   Initial notification           Initial 
       / Amendment 
     -----------------------------  ------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------- 
 a)   Name                           Personal Group Holdings Plc 
     -----------------------------  ------------------------------------------ 
 b)   LEI                            213800TN8BH2YYWAH345 
     -----------------------------  ------------------------------------------ 
 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 
       financial instrument,          5p each 
       type of instrument             ISIN: GB0002760279 
       Identification code 
     -----------------------------  ------------------------------------------ 
 b)   Nature of the transaction      Grant of options over ordinary shares 
                                      of GBP0.05 each pursuant to Company's 
                                      long term incentive plan 
     -----------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)          Price(s)          Volume(s) 
                                       Exercise price 
                                        of GBP0.05 
                                        per share        49,951 
                                                        ---------- 
     -----------------------------  ------------------------------------------ 
 d)   Aggregated information          N/A - single transaction 
       - Aggregated volume 
       - Price 
     -----------------------------  ------------------------------------------ 
 e)   Date of the transaction        6 April 2021 
     -----------------------------  ------------------------------------------ 
 f)   Place of the transaction       Outside a trading venue 
     -----------------------------  ------------------------------------------ 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                           Deborah Frost 
     -----------------------------  ------------------------------------------ 
 2    Reason for the notification 
     ------------------------------------------------------------------------- 
 a)   Position/status                Chief Executive Officer 
     -----------------------------  ------------------------------------------ 
 b)   Initial notification           Initial 
       / Amendment 
     -----------------------------  ------------------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ------------------------------------------------------------------------- 
 a)   Name                           Personal Group Holdings Plc 
     -----------------------------  ------------------------------------------ 
 b)   LEI                            213800TN8BH2YYWAH345 
     -----------------------------  ------------------------------------------ 
 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 
       financial instrument,          5p each 
       type of instrument             ISIN: GB0002760279 
       Identification code 
     -----------------------------  ------------------------------------------ 
 b)   Nature of the transaction      Grant of options over ordinary shares 
                                      of GBP0.05 each 
     -----------------------------  ------------------------------------------ 
 c)   Price(s) and volume(s)          Price(s)          Volume(s) 
                                       Exercise price 
                                        of GBP0.05 
                                        per share        29,615 
                                                        ---------- 
     -----------------------------  ------------------------------------------ 
 d)   Aggregated information          N/A - single transaction 
       - Aggregated volume 
       - Price 
     -----------------------------  ------------------------------------------ 
 e)   Date of the transaction        6 April 2021 
     -----------------------------  ------------------------------------------ 
 f)   Place of the transaction       Outside a trading venue 
     -----------------------------  ------------------------------------------ 
 

-ENDS-

For more information please contact:

 
 
 Personal Group Holdings Plc 
 Deborah Frost (CEO) / Sarah Mace                    Via Alma PR 
 (CFO) 
 
 Cenkos Securities Plc 
 Max Hartley / Callum Davidson 
  (Nomad)                                    +44 (0)20 7397 8900 
 Russell Kerr (Sales) 
 
 Alma PR                                     +44 (0)20 3405 0205 
 Susie Hudson / Caroline Forde        personalgroup@almapr.co.uk 
  / Harriet Jackson 
 
 

Notes to Editors

Personal Group Holdings Plc (AIM: PGH) is a digitally-enabled employee benefits and services provider. The Group enables employers across the UK to improve employee engagement and support their people's physical, mental, social and financial wellbeing. Its vision is to create a brighter future for the UK workforce.

Personal Group provides health insurance services and a broad range of employee benefits, engagement and wellbeing products. Many of these services are delivered through its proprietary app, Hapi.

The Group's growth strategy is centred around widening the footprint of the business into the SME, talent-led & Public Sectors, thereby expanding the addressable customer base. In addition, it aims to grow in its existing industrial heartlands, to re-invigorate growth in insurance policyholders and to drive the use of its SaaS offerings.

Clients include: Arsenal FC, Barchester Healthcare, DHL Supply Chain Limited, Merseyrail, Randstad, Royal Mail Group, the Sandwell & Birmingham NHS trust and Stagecoach Group plc. c.40% of clients are served by two or more group companies.

For further information, please see www.personalgroup.com

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April 07, 2021 02:00 ET (06:00 GMT)

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