1 August 2022
Billington Holdings Plc
("the Company" or "Billington")
Long Term Incentive Plan
The Company confirms that its Remuneration Committee (the "Committee") has agreed the following awards under the Long Term Incentive Plan (the "Plan" or "LTIP").
The objective of the Plan is to ensure that the strategic objectives of the company align with those of the senior management and that the structure of the overall remuneration package assists in maximising shareholder value.
The performance criteria for these awards of shares specifically relates to the improvement in the trading performance and profitability of the Company. The full award of shares will only be made should profitability achieve specified targets by the end of the performance period of the award.
The performance criteria for the 2022-2023 plan relate to a profit before tax (PBT) range of £4.5 million (25% vests) to £6.5 million (100% vests). The performance criteria for the 2022-2024 plan relate to a profit before tax (PBT) range of £5.5 million (25% vests) to £7.5 million (100% vests).
The following awards of ordinary shares have been made in this round of the Plan:
| Name | Position | Ordinary share options granted under the Plan - 2022-2023 | Ordinary share options granted under the Plan - 2022- 2024 | Total Ordinary share options granted under the Plan | Total shares awarded under Deferred Bonus Plan | Total number of shares options currently held | Total direct shareholding in BILN | Total Potential % Shareholding including options |
| Mark Smith | Chief Executive Officer | 123,359 | 126,443 | 318,955 | 18,160 | 337,115 | 19,554 | 2.758% |
| Trevor Michael Taylor | Chief Financial Officer | 92,519 | 94,832 | 239,215 | 13,620 | 252,835 | 19,323 | 2.014% |
These shares will be satisfied from the Billington Holdings Plc Employee Share Ownership Trust and at this time it is not anticipated any new shares will be issued to satisfy the award of shares under the Plan.
The following notifications, made in accordance with the requirements of the EU Market Abuse Regulation, gives further details.
For further information please contact:
| Billington Holdings Plc | Tel: 01226 340 666 |
| Mark Smith, Chief Executive | |
| Trevor Taylor, Chief Financial Officer | |
| | |
| WH Ireland Limited | Tel: 020 7220 1666 |
| Chris Hardie Fraser Marshall | |
| | |
| IFC Advisory Limited | Tel: 020 3934 6630 |
| Tim Metcalfe Graham Herring | |
| Zach Cohen | |
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Mark Smith | ||||
| 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 | Billington Holdings Plc | ||||
| b) | LEI | 213800MUHLXWQQ6MEN67 | ||||
| 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 10p each
GB0000332667 | ||||
| b) | Nature of the transaction | Award under Long Term Incentive Plan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
249,802 Nil | ||||
| e) | Date of the transaction | 27 July 2022 | ||||
| f) | Place of the transaction | Off Market | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Trevor Michael Taylor | ||||
| 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 | Billington Holdings Plc | ||||
| b) | LEI | 213800MUHLXWQQ6MEN67 | ||||
| 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 10p each
GB0000332667 | ||||
| b) | Nature of the transaction | Award under Long Term Incentive Plan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
187,351 Nil | ||||
| e) | Date of the transaction | 27 July 2022 | ||||
| f) | Place of the transaction | Off Market | ||||
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