DIRECTOR/PDMR SHAREHOLDING-RAMSDENS HOLDINGS PLC

DIRECTOR/PDMR SHAREHOLDING-RAMSDENS HOLDINGS PLC

Director/PDMR Shareholding

 

Ramsdens, the diversified financial services provider and retailer, announces that on 18 April 2024, the Company adopted its Long‐Term Incentive Plan 7 (the "Plan"). The Plan follows the principles of the Group's existing LTIPs, in recognising the contribution of the management team for the three years to FY26. The intention to grant the conditional awards was disclosed in Ramsdens' 2023 Annual Report and Accounts, published on 15 January 2024.

 

In accordance with the Group's remuneration strategy, the Plan extends to 25 members of the Senior Management Team, including CEO Peter Kenyon and CFO Martin Clyburn (the "Executive Directors"). The awards granted over 1p Ordinary Shares in the capital of the Company (the "Shares") are under one incentive plan, however the Plan comprises two types of awards, a wholly conditional award Long Term Incentive Plan (the "LTIP") and a Company Share Option Plan (the "CSOP"). Vested awards under the LTIP are exercisable at 1 pence per share and under the CSOP are exercisable at 205 pence per share.

 

The Executive Directors have been granted a total of 170,000 share options under the LTIP, to vest in 2027 in accordance with the Plan rules. These share options are subject to the achievement of performance targets, with 50% of any award linked to targeted increases in the Earnings per Share of the Company, and the remaining 50% of any award based on the delivery of the Total Shareholder Return. These targets will be measured over the three financial years to 30 September 2026.

 

These grants represent the maximum possible share awards to the Executive Directors should the performance targets be achieved in full. The Plan rules include malus and clawback provisions.

 

A further 180,000 share options have been issued pursuant to the LTIP scheme to 13 members of the Senior Management Team, including Michael Johnson (Operations Director), Jason Carr (IT Director) and Mark Smith (Finance Director) with the same performance criteria and rules.

 

In addition, 150,000 shares have been issued under the CSOP scheme to 20 members of the Senior Management Team. These awards have no performance criteria but include malus and clawback provisions. Participants who leave the Company before vesting will lose their award, subject to certain limited 'good leaver' conditions.

 

The following table summarises the awards issued.

 

 

Name

Roll

Number of LTIP

shares awarded

Number of

CSOP shares

awarded

Peter Kenyon

 

CEO (Director)

100,000

Nil

Martin Clyburn

 

CFO (Director)

70,000

Nil

Michael Johnson

Operations Director of trading subsidiary

(PDMR)

 

50,000

Nil

Jason Carr

IT Director of trading subsidiary

(PDMR)

 

30,000

Nil

Mark Smith

Finance Director of trading subsidiary (PDMR)

 

30,000

Nil

A further ten members of the Senior

Management Team have been issued

both awards

70,000

75,000

Ten members of the Senior

Management Team have been issued

CSOP only awards

 

Nil

75,000

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