The Pebble Group PLC Announces Grant of performance share awards under LTIP
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Grant of performance share awards under Long Term Incentive Plan and Notification of transactions by PDMRs
MANCHESTER, UK / ACCESSWIRE / ,March 26, 2024 / The Pebble Group plc (AIM:PEBB)(OTCQX:PEBBF), a leading provider of technology, services and products to the global promotional products industry, announces that on 26 March 2024 the Company made awards of 3,009,191 in the form of nil cost options or conditional share awards (Performance Shares) under The Pebble Group plc Long Term Incentive Plan (LTIP) to a number of senior employees across the Group, including to the Persons Discharging Managerial Responsibilities (PDMR), as detailed below:
PDMR | Number of Performance Shares |
Christopher Lee | 465,672 |
Claire Thomson | 343,284 |
Karl Whiteside | 202,626 |
The vesting of all the Performance Shares is conditional on meeting performance conditions measured over a three-year period as described below.
Performance conditions
1. Adjusted Earnings Per Share ("EPS") Target[1]
Up to
Cumulative Adjusted EPS for the three year period to 31 December 2026 | Portion of Ordinary Shares vesting subject to Adjusted EPS target |
Below 15.5p | No vesting |
15.5p | |
16.4p | |
17.4p or more |
2. Total Shareholder Return ("TSR") Target
Up to
Annualised TSR for the three year period to 31 December 2026 | Portion of Ordinary Shares vesting subject to TSR Target |
Below | No vesting |
A holding period of two years from date of vesting is applicable to the LTIP awards granted to the Executive Directors of the Company.
The making of these awards at these levels and with these performance conditions is considered by the Remuneration Committee to be in accordance with the Company's Remuneration Policy with regard to the Executive Directors.
The Remuneration Committee has discretion to adjust the level of vesting if in its opinion such level of vesting resulting from the application of the performance conditions is considered not to be a fair and accurate reflection of the performance of the Company or a fair and accurate reflection of the award holder's performance or where there is any other factor or any other circumstances which would make the level of vesting inappropriate without adjustment.
The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014:
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
(a) | Name | 1. Christopher Lee 2. Claire Thomson 3. Karl Whiteside | ||||||
2 | Reason for the notification | |||||||
(a) | Position/status | 1. Chief Executive Officer 2. Chief Financial Officer 3. Group MD, Brand Addition | ||||||
(b) | Initial notification/Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
(a) | Name | The Pebble Group plc | ||||||
(b) | LEI | 213800LZUQAYBHDEQY04 | ||||||
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 instrument, type of instrument Identification code | Ordinary shares of 1 pence each ISIN GB00BK71XP16 PEBB.L | ||||||
(b) | Nature of the transaction | Award of nil-cost options or conditional share awards pursuant to The Pebble Group plc Long Term Incentive Plan | ||||||
(c) | Price(s) and volume(s) |
| ||||||
(d) | Aggregated information - Aggregated volume - Price | N/A | ||||||
(e) | Date of the transaction | 26 March 2024 | ||||||
(f) | Place of the transaction | Outside a trading venue | ||||||
Enquiries:
The Pebble Group | Temple Bar Advisory (Financial PR) |
Grant Thornton UK LLP (Nominated Adviser) | Berenberg (Corporate Broker) |
About The Pebble Group
The Pebble Group is a provider of digital commerce, products and related services to the global promotional products industry, comprising two differentiated businesses, Facilisgroup and Brand Addition, focused on specific areas of the promotional products market. For further information, please visit www.thepebblegroup.com.
[1] Adjusted basic earnings per share represents Adjusted Earnings meaning profit after tax before amortisation of acquired intangible assets, share-based payments charge and exceptional items divided by a weighted average number of shares. It may also include adjustments as the Remuneration Committee of the Board, in its absolute discretion, may determine.
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SOURCE: The Pebble Group PLC
View the original press release on accesswire.com
FAQ
How many Performance Shares were granted under The Pebble Group plc Long Term Incentive Plan?
What are the performance conditions for the vesting of the Performance Shares?
Who are the Persons Discharging Managerial Responsibilities (PDMRs) mentioned in the press release?
What is the nature of the transaction mentioned in the press release?
What is the role of the Remuneration Committee in relation to the Performance Shares?
