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viewWalker Greenbank PLC

Grant of Awards under LTIP

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RNS Number : 2738U
Walker Greenbank PLC
21 November 2019
 

For immediate release

21 November 2019

 

 

WALKER GREENBANK PLC

("Walker Greenbank" or the "Company")

 

 

Grant of Awards under LTIP and notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated with them in accordance with the Market Abuse Regulations

 

 

Walker Greenbank PLC (AIM: WGB), the luxury interior furnishings group, announces that on 21  November 2019 it granted nil-cost options (the "Awards") over ordinary shares of 1 pence each in the Company (the "Shares") to six PDMRs under the Walker Greenbank PLC 2015 Long Term Incentive Plan (the "LTIP"), based on the closing mid-market price on 20 November 2019 of 77.0 pence per Share. Details of the Awards are set out below:

Name

Number of Shares under Award on the basis of achieving the maximum performance targets

Lisa Montague, Chief Executive Officer

662,337

Mike Gant, Chief Financial Officer

377,532

Mauricio Solojudin, Global Commercial Director

100,108

Claire Vallis, Creative Director

43,912

Carla Barnett, Group HR Director

87,825

Caroline Geary, Company Secretary

17,083

 

No payment was required for the grant of the Awards.

In accordance with the rules of the LTIP, which was approved by shareholders at the 2015 AGM, Shares awarded will vest three years after the date of grant subject to the satisfaction of performance conditions. 25% of the award is against a measurement of total shareholder return ("TSR") of the Company against a comparator group of companies chosen from the retail and home goods sector, and 75% of the award is measured against targets set for the financial performance of the Company for the financial year ending 31 January 2022, based on (i) earnings per share, (ii) revenue and (iii) free cash flow measurements, split 25% each. Further details of the performance measures will be set out in the Company's 2020 Annual Report and Accounts.

  

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Lisa Montague

2.

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

Initial notification/Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Walker Greenbank PLC

b)

LEI

n/a

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

 

GB0003061511

b)

Nature of the transaction

Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions.

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

662,337

 

d)

Aggregated information

 

 

Not applicable - single transaction

e)

Date of the transaction

21 November 2019

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Mike Gant

2.

Reason for the notification

a)

Position/status

Chief Financial Officer

b)

Initial notification/Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Walker Greenbank PLC

b)

LEI

n/a

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

 

GB0003061511

b)

Nature of the transaction

Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions.

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

377,532

 

d)

Aggregated information

 

 

Not applicable - single transaction

e)

Date of the transaction

21 November 2019

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

 Mauricio Soldujin

2.

Reason for the notification

a)

Position/status

Global Commercial Director

b)

Initial notification/Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Walker Greenbank PLC

b)

LEI

n/a

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

 

GB0003061511

b)

Nature of the transaction

Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions.

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

100,108

 

d)

Aggregated information

 

 

Not applicable - single transaction

e)

Date of the transaction

21 November 2019

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Claire Vallis

2.

Reason for the notification

a)

Position/status

Creative Director

b)

Initial notification/Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Walker Greenbank PLC

b)

LEI

n/a

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

 

GB0003061511

b)

Nature of the transaction

Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions.

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

43,912

 

d)

Aggregated information

 

 

Not applicable - single transaction

e)

Date of the transaction

21 November 2019

f)

Place of the transaction

Outside a trading venue

 

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Carla Barnett

2.

Reason for the notification

a)

Position/status

Group HR Director

b)

Initial notification/Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Walker Greenbank PLC

b)

LEI

n/a

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

 

GB0003061511

b)

Nature of the transaction

Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions.

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

87,825

 

d)

Aggregated information

 

 

Not applicable - single transaction

e)

Date of the transaction

21 November 2019

f)

Place of the transaction

Outside a trading venue

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Caroline Geary

2.

Reason for the notification

a)

Position/status

Company Secretary

b)

Initial notification/Amendment

Initial notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Walker Greenbank PLC

b)

LEI

n/a

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

 

GB0003061511

b)

Nature of the transaction

Grant of nil cost option award under the Walker Greenbank PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions.

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

17,083

 

d)

Aggregated information

 

 

Not applicable - single transaction

e)

Date of the transaction

21 November 2019

f)

Place of the transaction

Outside a trading venue

 

For further information:

 

Walker Greenbank PLC

+44 (0) 20 7466 5000

Lisa Montague, Chief Executive Officer

Mike Gant, Chief Financial Officer 

 

Caroline Geary, Company Secretary

 

 

 

Investec Bank plc (Nominated Adviser and Broker)

+44 (0) 20 7597 5970

David Anderson / Alex Wright

 

Henry Reast

 

 

 

Buchanan

+44 (0) 20 7466 5000

Mark Court / Toto Berger / Charlotte Slater

 

 

Notes for editors:

 

About Walker Greenbank

 

Walker Greenbank PLC is a luxury interior furnishings company that designs, manufactures and markets wallpapers, fabrics and paints. In addition, the Company derives significant licensing income from the use of its designs on a wide range of interior products such as bed linen, rugs and tableware.

 

Walker Greenbank's brands include Zoffany, Sanderson, Morris & Co., Harlequin, Scion and Clarke & Clarke.

 

The Company has a strong UK manufacturing base comprising a wallpaper factory in Loughborough and a fabric printing factory in Lancaster. Both factories manufacture for the Company and for other wallpaper and fabric brands.

 

Walker Greenbank employs more than 650 people and its products are sold in more than 85 countries worldwide. It has showrooms in London, New York, Chicago, Paris, and Dubai.

 

Walker Greenbank trades on the AIM market of the London Stock Exchange under the ticker symbol WGB.

 

For further information please visit: www.walkergreenbank.com/


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Walker Greenbank PLC

Price: 82

Market: AIM
Market Cap: £58.21 m
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