TIDMNWF
RNS Number : 0002V
NWF Group PLC
04 August 2020
NWF Group plc
NWF Group plc ('NWF', 'the Group' or 'the Company')
Award of Options and Issue of Equity under Company Performance
Share Plan
NWF Group plc, the specialist distributor of fuel, food and feed
across the UK, announces the following awards have been approved
under the terms of the established NWF Company Performance Share
Plan (the "Plan").
Richard Whiting, Chief Executive of NWF, will receive an award
of a conditional right over a maximum of 147,927 ordinary shares of
25 pence each of the Company ("Shares") at a price of 205 pence per
Share, being the mid-market price at the close of business on 3
August 2020. This award is subject to the following performance
targets:
1. if the reported headline basic earnings per share for the
three financial years ending 31 May 2023
increases by RPI plus 2% per annum then 44,378 Shares will be issued under the Plan; and
2. the maximum of 147,927 Shares will be issued if the reported
headline basic earnings per share increases by RPI plus 8% per
annum for the three financial years ending 31 May 2023.
Following the award, Richard Whiting will be interested in
473,828 conditional awards over Shares.
Chris Belsham, Group Finance Director of NWF, will receive an
award of a conditional right over a maximum of 88,902 ordinary
shares of 25 pence each of the Company ("Shares") at a price of 205
pence per Share, being the mid-market price at the close of
business on 3 August 2020. This award is subject to the following
performance targets:
1. if the reported headline basic earnings per share for the
three financial years ending 31 May 2023
increases by RPI plus 2% per annum then 26,671 Shares will be issued under the Plan; and
2. the maximum of 88,902 Shares will be issued if the reported
headline basic earnings per share increases by RPI plus 8% per
annum for the three financial years ending 31 May 2023.
Following the award, Chris Belsham will be interested in 284,720
conditional awards over Shares.
Rob Andrew, Group Company Secretary of NWF, will receive an
award of a conditional right over a maximum of 66,707 Shares at a
price of 205 pence per Share, being the mid-market price at the
close of business on 3 August 2020. This award is subject to the
following performance targets:
1. if the reported headline basic earnings per share for the
three financial years ending 31 May 2023 increases by RPI plus 2%
per annum then 20,012 Shares will be issued under the Plan; and
2. the maximum of 66,707 Shares will be issued if the reported
headline basic earnings per share increases by RPI plus 8% per
annum for the three financial years ending 31 May 2023.
Following the award, Rob Andrew will be interested in 213,633
conditional awards over Shares.
The Plan was established for the purpose of incentivising and
retaining the Company's eligible executive management. Shares
awarded under the Plan are subject to a performance criteria that
requires NWF to meet a minimum reported basic earnings per share
target over a three year period. The Remuneration Committee has
responsibility for determining the award of Shares and the
performance targets under the Plan.
Issue of Equity
The Company announces that it will issue 253,525 Shares in
respect of awards previously made under the Plan. Following the
satisfaction of performance conditions, 101,688 Shares will be
issued in respect of Richard Whiting, who will then have an
interest of 412,455 Shares representing 0.84% of the issued share
capital of the Company. 61,085 Shares will be issued in respect of
Chris Belsham who will then have an interest of 80,710 Shares
representing 0.16% of the issued share capital of the Company.
45,814 Shares will be issued in respect of Rob Andrew who will then
have an interest in 137,667 Shares representing 0.28% of the issued
share capital of the Company.
Application has been made for the 253,525 new Shares to be
admitted to trading on AIM ("Admission"). Admission is expected to
take place at 8.00 am on 7 August 2020.
Total Voting Rights
In accordance with the FCA's Disclosure Guidance and
Transparency Rules (DTR 5.6.1) the Company notifies that following
Admission, its issued share capital will consist of 49,003,965
Shares. There are no shares held in treasury. Shareholders may use
this figure as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.
Rob Andrew Reg Hoare/James Bavister Mike Bell/Ed Allsopp
Group Company Secretary MHP Communications Peel Hunt LLP
NWF Group plc Tel: 020 3128 8100 (Nominated Adviser)
Tel: 01829 260 260 Tel: 020 7418 8900
The information below (set out in accordance with the
requirements of the EU Market Abuse Regulation) provides further
detail:
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Richard Whiting
------------------------------- ---------------------------------------------------------------
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 NWF Group plc
------------------------------- ---------------------------------------------------------------
b) LEI 213800ARRZNN1WVZ9M70
------------------------------- ---------------------------------------------------------------
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 1) Options over Shares in NWF Group plc
financial instrument, 2) Shares in NWF Group plc
type of instrument
Identification code GB0006523608
------------------------------- ---------------------------------------------------------------
b) Nature of the transaction 1) Award of options under the Company's
Performance Share Plan
2) Issue of shares under the Company's Performance
Share Plan
------------------------------- ---------------------------------------------------------------
c) Price(s) and volume(s)
Price(s) Volume(s)
1 Nil 147,927
--------- ----------
2 Nil 101,688
--------- ----------
------------------------------- ---------------------------------------------------------
d) Aggregated information
- Aggregated volume n/a
- Price
- Total
e) Date of the transaction 4 August 2020
------------------------------- ---------------------------------------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------- ---------------------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Chris Belsham
------------------------------- ---------------------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------------------
a) Position/status Group Finance Director
------------------------------- ---------------------------------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------- ---------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------------------
a) Name NWF Group plc
------------------------------- ---------------------------------------------------------------
b) LEI 213800ARRZNN1WVZ9M70
------------------------------- ---------------------------------------------------------------
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 1) Options over Shares in NWF Group plc
financial instrument, 2) Shares in NWF Group plc
type of instrument
Identification code GB0006523608
------------------------------- ---------------------------------------------------------------
b) Nature of the transaction 1) Award of options under the Company's
Performance Share Plan
2) Issue of shares under the Company's Performance
Share Plan
------------------------------- ---------------------------------------------------------------
c) Price(s) and volume(s)
Price(s) Volume(s)
1 Nil 88,902
--------- ----------
2 Nil 61,085
--------- ----------
------------------------------- ---------------------------------------------------------
d) Aggregated information
- Aggregated volume n/a
- Price
- Total
e) Date of the transaction 4 August 2020
------------------------------- ---------------------------------------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------- ---------------------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Rob Andrew
------------------------------- ---------------------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------------------
a) Position/status Group Company Secretary
------------------------------- ---------------------------------------------------------------
b) Initial notification Initial notification
/Amendment
------------------------------- ---------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------------------
a) Name NWF Group plc
------------------------------- ---------------------------------------------------------------
b) LEI 213800ARRZNN1WVZ9M70
------------------------------- ---------------------------------------------------------------
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 1) Options over Shares in NWF Group plc
financial instrument, 2) Shares in NWF Group plc
type of instrument
Identification code GB0006523608
------------------------------- ---------------------------------------------------------------
b) Nature of the transaction 1) Award of options under the Company's
Performance Share Plan
2) Issue of shares under the Company's Performance
Share Plan
------------------------------- ---------------------------------------------------------------
c) Price(s) and volume(s)
Price(s) Volume(s)
1 Nil 66,707
--------- ----------
2 Nil 45,814
--------- ----------
------------------------------- ---------------------------------------------------------
d) Aggregated information
- Aggregated volume n/a
- Price
- Total
e) Date of the transaction 4 August 2020
------------------------------- ---------------------------------------------------------------
f) Place of the transaction Outside of a trading venue
------------------------------- ---------------------------------------------------------------
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END
MSCEAPPDELFEEFA
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August 04, 2020 02:00 ET (06:00 GMT)
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