Seraphine Group PLC
Director/PDMR Shareholding - Grant of LTIP Awards
Seraphine Group plc
30 September 2022
SERAPHINE GROUP PLC
Notification and public disclosure of transactions by PDMRS
Grant of LTIP Awards
Seraphine Group plc (the "Company") announces that on 30 September 2022 the following awards over ordinary shares of 1 pence each in the Company were granted under the Seraphine Group plc Long Term Incentive Plan (LTIP) to the following person(s) discharging managerial responsibilities:
| Participant | Position | No. of Shares under Award |
| David N. Williams | Chief Executive Officer | 937,500 |
| Lee Williams | Finance Director | 900,000 |
| Chelsey Oliver | Creative & Brand Director | 787,500 |
The awards were granted as options with an option price per share of 1 pence and will ordinarily vest on 30 September 2025, subject to the grantee's continued service and the Remuneration Committee's assessment of the extent to which the performance conditions set for the awards are satisfied. A post vesting holding period applies during which vested shares (net of sales for tax) must then ordinarily be retained until 30 September 2027. The number of shares granted under the awards was set by reference to a reference share price of £0.20.
The Remuneration Committee of the Board resolved that the performance conditions for the awards have a performance period aligned to the three year vesting period and apply the following performance targets and related vesting percentages:
| Highest consecutive five day average share price in the last three months of the performance period | Percentage of award that vests |
| Less than £0.50 | 0% |
| Between £0.50 and £0.75 | Pro-rata 25% to 50% |
| Between £0.75 and £1.00 | Pro-rata 50% to 100% |
| £1.00 or better | 100% |
The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulation (EU) No 596/2014.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | 1. David N. Williams 2. Lee Williams 3. Chelsey Oliver | ||||
| 2 | Reason for Notification | |||||
| a) | Position/status | 1. Chief Executive Officer 2. Finance Director 3. Creative Director | ||||
| b) | Initial notification/Amendment | Initial Announcement | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Seraphine Group plc | ||||
| b) | LEI | 254900CQ8TMKUDD0L296
| ||||
| 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 in Seraphine Group plc
| ||||
| b) | Nature of the transaction | Grant of options over ordinary shares under the Seraphine Group plc Long Term Incentive Plan at an option price of 1 pence per share. | ||||
| c) | Price(s) and volume(s)
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| ||||
| d) | Aggregated information - Aggregated volume - Price |
Not applicable - single transactions | ||||
| e) | Date of the transaction | 30 September 2022 | ||||
| f) | Place of the transaction | Outside of a trading venue | ||||
Enquiries:
Seraphine PLC
Bill Ronald
(Senior Independent Non-Executive Director and via Buchanan
Remuneration Committee Chair)
David Williams (CEO) via Buchanan
Bridget Green (Company Secretary) via Buchanan
Buchanan Communications Seraphine@buchanan.uk.com
Buchanan Communications Tel: (0)20 7466 5000
Simon Compton Tel: (0) 7979 497324
Helen Tarbet Tel: (0) 7872 604453
Kim Looringh van Beeck Tel: (0)7477 967446
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