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RNS Number : 2903Y NWF Group PLC 30 July 2024
For release Tuesday 30 July 2024
NWF Group plc
NWF Group plc: Award of Options under Company Performance Share Plan
NWF Group plc ('NWF', the 'Company' or the Group), the specialist distributor
operating in UK markets today announces the following awards have been
approved under the terms of the established NWF Company Performance Share Plan
(the 'Plan').
Chris Belsham, Chief Executive of NWF, will receive an award of a conditional
right over a maximum of 234,287 ordinary shares of 25 pence each of the
Company ('Shares') at a price of 167.5 pence per Share, being the mid-market
price at the close of business on 29 July 2024. 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 2027 increases by RPI plus 2% per annum
then 70,286 Shares will be issued under the Plan; and
2. the maximum of 234,287 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 2027.
Following the award, Chris Belsham will be interested in 477,000 conditional
awards over Shares.
Katie Shortland, Chief Financial Officer of NWF, will receive an award of a
conditional right over a maximum of 126,060 Shares at a price of 167.5 pence
per Share, being the mid-market price at the close of business on 29 July
2024. 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 2027 increases by RPI plus 2% per annum 37,818
Shares will be issued under the Plan; and
2. the maximum of 126,060 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 2027.
Following the award, Katie Shortland will be interested in 218,820 conditional
awards over Shares.
Dave Walmsley, Managing Director of NWF Fuels, will receive an award of a
conditional right over a maximum of 95,744 Shares at a price of 167.5 pence
per Share, being the mid-market price at the close of business on 29 July
2024. 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 2027 increases by RPI plus 2% per annum 28,723
Shares will be issued under the Plan; and
2. the maximum of 95,744 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 2027.
Following the award, Dave Walmsley will be interested in 153,950 conditional
awards over Shares.
Angela Carus, Managing Director of Boughey Distribution, will receive an award
of a conditional right over a maximum 84,793 Shares at a price of 167.5 pence
per Share, being the mid-market price at the close of business on 29 July
2024. 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 2027 increases by RPI plus 2% per
annum 25,438 Shares will be issued under the Plan; and
2. the maximum of 84,793 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 2027.
Following the award, Angela Carus will be interested in 193,439 conditional
awards over Shares.
Andrew Downie, Managing Director of NWF Agriculture, will receive an award of
a conditional right over a maximum of 88,273 Shares at a price of 167.5 pence
per Share, being the mid-market price at the close of business on 29 July
2024. 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 2027 increases by RPI plus 2% per annum 26,482
Shares will be issued under the Plan; and
2. the maximum of 88,273 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 2027.
Following the award, Andrew Downie, will be interested in 262,541 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 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. In the event of a recipient leaving
during the three-year period to 31 May 2027, the circumstances surrounding the
recipient leaving the Company would be assessed, and any award which
subsequently vests would be pro-rated to reflect the recipient's actual period
of employment.
Tom Harland, Group Company Secretary Reg Hoare/Catherine Chapman/ Mike Bell/Ed Allsopp
Clementina Esman
NWF Group plc MHP Peel Hunt LLP
(Nominated Adviser and Broker)
Tel: 01829 260 260 Tel: 020 3128 8339 Tel: 020 7418 8900
The information below (set out in accordance with the requirements of EU
Market Abuse Regulation) provides further detail:
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Chris Belsham
2. Reason for the notification
a. Position/status Chief Executive
b. Initial notification Initial
/Amendment
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name NW F Group plc
b. LEI 213800ARRZNN1W VZ9M70
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 25p in the Company
GB0006523608
b. Nature of the transaction
Award of options under the Company's Share Option Plan
c. Price(s) and volume(s)
Price(s) Volume(s)
0p 234,287
d. Aggregated information
• Aggregated volume
• Price
e. Date of the transaction 30 July 2024
f. Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Katie Shortland
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 NW F Group plc
b. LEI 213800ARRZNN1W VZ9M70
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 25p in the Company
GB0006523608
b. Nature of the transaction
Award of options under the Company's Share Option Plan
c. Price(s) and volume(s)
Price(s) Volume(s)
0p 126,060
d. Aggregated information
• Aggregated volume
• Price
e. Date of the transaction 30 July 2024
f. Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name David Walmsley
2. Reason for the notification
a. Position/status Managing Director, NWF Fuels Limited
b. Initial notification Initial
/Amendment
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name NW F Group plc
b. LEI 213800ARRZNN1W VZ9M70
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 25p in the Company
GB0006523608
b. Nature of the transaction
Award of options under the Company's Share Option Plan
c. Price(s) and volume(s)
Price(s) Volume(s)
0p 95,744
d. Aggregated information
• Aggregated volume
• Price
e. Date of the transaction 30 July 2024
f. Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Angela Carus
2. Reason for the notification
a. Position/status Managing Director, Boughey Distribution Limited
b. Initial notification Initial
/Amendment
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name NW F Group plc
b. LEI 213800ARRZNN1W VZ9M70
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 25p in the Company
GB0006523608
b. Nature of the transaction
Award of options under the Company's Share Option Plan
c. Price(s) and volume(s)
Price(s) Volume(s)
0p 84,793
d. Aggregated information
• Aggregated volume
• Price
e. Date of the transaction 30 July 2024
f. Place of the transaction
Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a. Name Andrew Downie
2. Reason for the notification
a. Position/status Managing Director, NWF Agriculture Limited
b. Initial notification Initial
/Amendment
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name NW F Group plc
b. LEI 213800ARRZNN1W VZ9M70
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 25p in the Company
GB0006523608
b. Nature of the transaction
Award of options under the Company's Share Option Plan
c. Price(s) and volume(s)
Price(s) Volume(s)
0p 88,273
d. Aggregated information
• Aggregated volume
• Price
e. Date of the transaction 30 July 2024
f. Place of the transaction
Outside a trading venue
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