REG - Property FranchiseGp - Grant of Options

Property FranchiseAnnouncement

09/08/2024 15:00

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RNS Number : 9575Z  Property Franchise Group PLC (The)  09 August 2024

9 August 2024

THE PROPERTY FRANCHISE GROUP PLC

 

(the "Company" or the "Group")

 

Grant of Options

 

The Property Franchise Group PLC, the UK's largest property franchisor, today
announces that it has granted nominal cost options over 1,195,000 ordinary
shares in the Company to certain executive directors and members of its senior
management team under the TPFG Share Option Plan.

 

These awards recognise each of their roles and responsibilities in developing
and implementing the Company's strategic plans and are designed to continue to
incentivise them appropriately.

 

The awards will be subject to two performance conditions; total shareholder
return ("TSR") and adjusted basic earnings per share adjusted for exceptional
income/costs, amortisation arising on consolidation and share-based payment
charges ("adjusted EPS") over the 3 years to 31 December 2026. Each
performance condition will apply to 50% of the awards being made. All
participants will be subject to a lock-in of 12 months following vesting.

 

In respect of the TSR, the award will be subject to absolute TSR growth of 45%
to achieve threshold vesting (at which point 25% of this portion of the award
will vest), which corresponds to 13.2% compound annual growth rate ("CAGR"),
rising to full vesting at 85% growth over the period which corresponds to
22.8% CAGR.

 

In respect of adjusted EPS, the award will be subject to adjusted EPS growth
of 40% over the period to achieve threshold vesting (25% vesting), which
corresponds to 11.9% CAGR, rising to full vesting at 60% growth over the
period, which corresponds to 17.0% CAGR.

 

Straight-line vesting applies between the thresholds.

 

The maximum awards for directors are stated below:

 

 Name            Position                 Number of shares subject to awards
 Gareth Samples  Chief Executive Officer  500,000
 Michelle Brook  Executive Director       100,000

 

In addition, the Company has granted CSOP options over a total of 220,000
ordinary shares to senior management and further key employees under the
Company's CSOP scheme.

 

Immediately prior to these awards the Company's issued share capital was
63,752,008 ordinary shares and it had outstanding awards granted under prior
incentive schemes of 676,952 ordinary shares.

 

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                                      Michelle Brook
 2   Reason for notification.
 a)  Position/Status:                                      Chief Executive                                     Executive Director
 b)  Initial Notification/Amendment:                       Initial Notification                                Initial Notification
 3   Details of the issuer, emission allowance market participation, auction
     platform,
     auctioneer or auction monitor.
 a)  Name:                                                 The Property Franchise Group PLC                    The Property Franchise Group PLC
 b)  LEI:                                                  2138008J5PTJ8C77I535                                2138008J5PTJ8C77I535

 4   Details of 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:              Ordinary Shares of                                  Ordinary Shares of
                                                           1p each                                             1peach
     Identification code:                                  ISIN: GB00BH0WFH67                                  ISIN: GB00BH0WFH67
 b)  Nature of transaction:                                Grant of nil cost options                           Grant of nil cost options
                                                           over Company's shares                               over Company's shares
 c)  Price(s) and volume(s)                                Price(s)              Volume(s)                     Price(s)              Volume(s)
                                                           1p each               500,000                       1p each               100,000
 d)  Aggregated volume:                                    n/a                                                 n/a
     Price:                                                n/a                                                 n/a
 e)  Date of Transaction:                                  9 August 2024                                       9 August 2024
 f)  Place of the Transaction                              Outside a trading venue                             Outside a trading venue

 

 

For further information, please contact:

 

 

 The Property Franchise Group PLC                                 01202 405 549

 Gareth Samples, Chief Executive Officer

 David Raggett, Chief Financial Officer

 Canaccord Genuity Limited (Nominated Adviser and Joint Broker)    020 7523 8000

 Max Hartley

 Harry Rees

 Singer Capital Markets (Joint Broker)                             020 7496 3000

 Rick Thompson

 James Fischer

 Alma Strategic Communications                                     020 3405 0209

 Justine James                                                    propertyfranchise@almastrategic.com

 Joe Pederzolli

 Kinvara Verdon

 

About The Property Franchise Group PLC:

 

The Property Franchise Group PLC (AIM: TPFG) is the UK's largest multi-brand
property franchisor, with a network of over 1,900 outlets delivering high
quality services to residential clients, combined with an established
Financial Services business.

 

The Company was founded in 1986 and has since strategically grown to a diverse
portfolio of 18 brands operating throughout the UK, comprising longstanding
high-street focused brands and two hybrid brands. The Property Franchise Group
is also a member of two leading mortgage networks through its mortgage
brokers, Brook Financial (MAB) and The Mortgage Genie (Primis).

 

The Property Franchise Group PLC's brands are: Belvoir, CJ Hole, Country
Properties, Ellis & Co, EweMove, Fine & Country, Hunters, Lovelle,
Martin & Co, Mr and Mrs Clarke, Mullucks, Newton Fallowell, Nicholas
Humphreys, Northwood, Parkers, The Guild of Property Professionals and
Whitegates and Mortgage Genie.

 

Headquartered in Bournemouth, the Company was listed on AIM on the London
Stock Exchange in 2013 and entered the AIM 100 in July 2024.

 

More information is available at www.propertyfranchise.co.uk
(http://www.propertyfranchise.co.uk/)

 

 

 

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