4 May 2023
Ashtead Technology Holdings plc
("the Company")
Conditional LTIP Award
Ashtead Technology Holdings plc (AIM: AT.), a leading subsea equipment rental and solutions provider for the global offshore energy sector, announces that its Remuneration Committee has conditionally granted long-term incentive awards over 438,622 new ordinary shares of 5 pence each in the Company at nil cost under the 2023 Long Term Incentive Plan ("2023 LTIP"), representing approximately 0.5% of the Company's issued ordinary share capital (the "Awards").
The Awards will vest in one tranche following a three-year performance period not earlier than the date of release of the Company's annual report for the year ending 31 December 2025. 50% of the award is linked to the achievement of target compound annual growth of Adjusted Earnings Per Share, 25% of the award is linked to the achievement of an average ROIC and 25% of the award is linked to the achievement of total shareholder return (TSR) relative to the wider market tested against the performance of the Numis Smaller Companies Index + AIM Index (ex-Investment Companies). The Awards are subject to clawback provisions. Further details of the performance conditions will be set out in the notice of the 2023 Annual General Meeting ("AGM"), which will shortly be posted to shareholders.
In accordance with best practice under the Remuneration Committee Guide published by the Quoted Companies Alliance, the Company will seek shareholder authority for the 2023 LTIP at its AGM.
The awards to Persons Discharging Managerial Responsibility are as follows:
| PDMR | Awards |
| Allan Pirie | 154,417 |
| Ingrid Stewart | 81,998 |
For further information, please contact:
| Ashtead Technology Allan Pirie, Chief Executive Officer Ingrid Stewart, Chief Financial Officer
| (Via Vigo Consulting)
|
| Vigo Consulting (financial PR) Patrick d'Ancona Finlay Thomson Kate Kilgallen
| Tel: +44 (0)20 7390 0230 ashteadtechnology@vigoconsulting.com
|
| Numis Securities Limited (Nomad and Broker) Julian Cater George Price Kevin Cruickshank (QE) | Tel: +44 (0)20 7260 1000
|
Notes to editors:
Ashtead Technology is a leading subsea equipment rental and solutions provider for the global offshore energy sector. Ashtead Technology's specialist equipment, advanced-technologies and support services enable its customers to understand the subsea environment and manage offshore energy production infrastructure.
The Company's service offering is applicable across the lifecycle of offshore wind farms and offshore oil and gas infrastructure.
In the fast-growing offshore wind sector, Ashtead Technology's specialist equipment and services are essential through the project development, construction and installation phase. Once wind farms are operational, Ashtead Technology supports customers with inspection, maintenance and repair ("IMR") equipment and services. In the more mature oil and gas sector, Ashtead Technology's focus is on IMR and decommissioning.
Headquartered in the UK, the Company operates globally, servicing customers from its ten facilities located in key offshore energy hubs.
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 | Allan Pirie | |
| 2. | Reason for the notification | ||
| (a) | Position/status | Chief Executive Officer | |
| (b) | Initial notification/ Amendment | Initial notification | |
| 3. | Details of the issuer | ||
| (a) | Name | Ashtead Technology Holdings plc | |
| (b) | LEI | 213800LHEWVY66RPGR58 | |
| 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 | Ordinary shares of £0.05 each | |
| (b) | Identification code of the Financial Instrument | GB00BLH42507 | |
| (c) | Nature of the transaction | Grant of nil-cost options under the Long-Term Incentive Plan (LTIP) | |
| (d) | Price(s) and volume(s) | Price(s) | Volume(s) |
| | | Nil cost options | 154,417 |
| | | | |
| (e) | Aggregated information - Aggregated volume - Price | N/A | |
| (f) | Date of the transaction | 4 May 2023 | |
| (g) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| (a) | Name | Ingrid Stewart | |
| 2. | Reason for the notification | ||
| (a) | Position/status | Chief Financial Officer | |
| (b) | Initial notification/ Amendment | Initial notification | |
| 3. | Details of the issuer | ||
| (a) | Name | Ashtead Technology Holdings plc | |
| (b) | LEI | 213800LHEWVY66RPGR58 | |
| 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 | Ordinary shares of £0.05 each | |
| (b) | Identification code of the Financial Instrument | GB00BLH42507 | |
| (c) | Nature of the transaction | Grant of nil-cost options under the Long-Term Incentive Plan (LTIP) | |
| (d) | Price(s) and volume(s) | Price(s) | Volume(s) |
| | | Nil cost options | 81,998 |
| | | | |
| (e) | Aggregated information - Aggregated volume - Price | N/A | |
| (f) | Date of the transaction | 4 May 2023 | |
| (g) | Place of the transaction | Outside a trading venue | |
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