Property Franchise Group PLC (The) Grant of Option (3936T)
24 Marzo 2021 - 10:13AM
UK Regulatory
TIDMTPFG
RNS Number : 3936T
Property Franchise Group PLC (The)
24 March 2021
24 March 2021
THE PROPERTY FRANCHISE GROUP PLC
("TPFG", the "Company" or the "Group")
Grant of Option
PDMR Dealings
CEO Bonus deferred to Share Award
The Property Franchise Group PLC, the UK's largest property
franchisor, today announces that it has deferred the majority of
the bonus payable to its Chief Executive Officer, Gareth Samples,
into an award of an option over 100,000 ordinary shares of 1p each
in the Company.
The deferral of two thirds of his annual bonus demonstrates
Gareth's commitment to his growth plans for TPFG and to becoming
fully aligned with the Company's shareholders by building a
meaningful stake in the Company.
The award of the nil cost is in substitution for two thirds of
the total GBP150,000 performance-based cash bonus payable to Gareth
for the last financial year to 31 December 2020, with a 100% uplift
based on a 30-day VWAP applied to the deferred element, and will
become exercisable in two years' time subject to continued
employment, vesting criteria and malus conditions. Under the award,
Gareth will not be able to dispose of any of the acquired shares
for a further period of two years (save as required to pay tax due
on exercise).
Paul Latham, Chair of the TPFG Remuneration Committee
commented:
"The deferral of two thirds of the annual bonus into an option
represents a further step forward in Gareth's intention to build a
meaningful stake in TPFG, as outlined on his appointment. Over the
past twelve months Gareth has demonstrated outstanding leadership,
delivering results across the whole of the business which in the
depths of the Covid pandemic appeared highly unlikely. New
management structures have been implemented, exciting new
opportunities identified and, of course, Gareth has been
instrumental in delivering the recently completed acquisition of
Hunters."
Gareth Samples, CEO of TPFG, further commented:
"I am delighted to accept the deferral of the majority of my
bonus into an option. I hope that it will reinforce that I share
the ambition of all our shareholders, to see substantial further
growth for TPFG. This past year has indeed been challenging.
However, I am confident that the new management structures,
together with our newly refined growth strategy and the outstanding
opportunities afforded by the recently completed acquisition of
Hunters, will translate into returns delivered for our
shareholders."
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 Gareth Samples
------------------------------- --------------------------------------
2 Reason for the 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 The Property Franchise Group PLC
------------------------------- --------------------------------------
b) LEI 2138008J5PTJ8C77I535
------------------------------- --------------------------------------
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 Ordinary Shares of 1p
financial instrument,
type of instrument
ISIN: GB00BH0WFH67
Identification code
------------------------------- --------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nominal value
of 1p each 100,000
----------
------------------------------- --------------------------------------
Aggregated information
* Aggregated volume
d) * Price 100,000
------------------------------- --------------------------------------
e) Date of the transaction 24/03/2021
------------------------------- --------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- --------------------------------------
For further information, please contact:
The Property Franchise Group PLC
Gareth Samples, Chief Executive Officer
David Raggett, Chief Financial Officer 01202 405549
Cenkos Securities plc
Max Hartley, Callum Davidson (Financial Adviser and Nominated Adviser)
Julian Morse (Sales) 0207 397 8900
Alma PR
Susie Hudson
Justine James
Harriet Jackson 0203 405 0209
About The Property Franchise Group PLC:
The Property Franchise Group PLC (AIM: TPFG) is the largest
property franchisor in the UK and one of the leaders in UK estate
agency and lettings.
The Company was founded in 1986 and has since grown to a diverse
portfolio of nine brands operating throughout the UK, comprising
longstanding high-street focused brands and a hybrid, no sale no
fee agency.
The Property Franchise Group's brands are Martin & Co,
EweMove, Hunters, CJ Hole, Ellis & Co, Parkers, Whitegates,
Mullucks & Country Properties.
Headquartered in Bournemouth, UK, the Company was listed on AIM
on the London Stock Exchange in 2013. More information is available
at www.propertyfranchise.co.uk
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