RNS Number : 6563D
Churchill China PLC
22 June 2023
 

For immediate release

22 June 2023

 

 

CHURCHILL CHINA plc

("Churchill" or the "Company" or the "Group")

 

Grant of Options under LTIP

Churchill China plc (AIM: CHH), the manufacturer of innovative performance ceramic products serving hospitality markets worldwide, announces that on 21 June 2023, the following options over 10p ordinary shares in the Company ("Ordinary Shares") were granted to persons discharging managerial responsibilities ("PDMRs") under the Churchill China Long Term Incentive Plan ("CCLTIP") (the "Grants"):

Director

Position

Number of Options Over Ordinary Shares granted

Exercise Price

Market Price at Date of Grant

David O'Connor

Chief Executive Officer

24,425

10p

1,375p

James Roper

Sales and Marketing Director

18,945

10p

1,375p

Michael Cunningham

Chief Financial Officer

14,545

10p

1,375p

In addition, 30,096 Grants were made to employees who are non-PDMRs.

The Grants are subject to the achievement of performance criteria as specified by the Remuneration Committee and are subject to claw back provisions in certain circumstances. The performance conditions require that the Company's adjusted (pre-exceptional items and adjusted for pension interest charges and credits) earnings per share ("Adjusted EPS") for the financial year ending 31 December 2025 reaches the following figures for each level of vesting:

Adjusted EPS for year ending 31 December 2025

% of Grant that Vests

81.0

25%

90.0

40%

94.5

100%

Between these target levels, share options will vest on a straight-line basis and shares will vest, subject to the achievement of these performance conditions, from 21 June 2026.

The Grant values represent 100 per cent of the current base annual salary for each of David O'Connor, James Roper and Michael Cunningham.

Resultant Holdings

Following the Grants, David O'Connor, James Roper and Michael Cunningham hold options over Ordinary Shares as follows:

 

Director

Options Held

Option Exercise Price

Expiry Date

David O'Connor

21,977

10p

28.06.2032

David O'Connor

17,856

10p

11.06.2031

David O'Connor

24,425

10p

21.06.2033

James Roper

17,046

10p

28.06.2032

James Roper

13,641

10p

11.06.2031

James Roper

18,945

10p

21.06.2033

Michael Cunningham

14,545

10p

21.06.2033

 

 

For further information, please contact:

 

Churchill China plc

Tel: 01782 577566

David O'Connor / James Roper / Michael Cunningham




Buchanan

Tel: 020 7466 5000

Mark Court / Abigail Gilchrist


ChurchillChina@buchanan.uk.com


 


Investec

Tel: 020 7597 5970  

David Flin / Alex Wright / William Brinkley

 


 

Notification and public disclosure of transactions by Persons Discharging Managerial Responsibilities ("PDMR") and persons closely associated with them ("PCA")

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

Michael Cunningham

2

Reason for 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

Churchill China plc

b.

LEI

213800GQ51I4LZQ5AR09

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


ISIN: GB0001961035

b.

Nature of the transaction

Grant of options

c.

Price(s) and volume(s)

 

 

 

 

Price(s)

Volume(s)

10p

14,545

d.

Aggregated information

 

 

 

 

N/A - Single Transaction

e.

Date of the transaction

21/06/2023

f.

Place of the transaction

Off market

 

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

David O'Connor

2

Reason for 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

Churchill China plc

b.

LEI

213800GQ51I4LZQ5AR09

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


ISIN: GB0001961035

b.

Nature of the transaction

Grant of Options

c.

Price(s) and volume(s)

 

 

 

 

 

Price(s)

Volume(s)

10p

24,425

d.

Aggregated information

 

 

 

 

 

N/A - Single Transaction

e.

Date of the transaction

21/06/2023

f.

Place of the transaction

Off market

 

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

1

Details of the person discharging managerial responsibilities/person closely associated

a.

Name

James Roper

2

Reason for notification

 

 

 

a.

Position/Status

Sales and Marketing Director

 

b.

Initial notification/

Amendment

Initial Notification

3

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

a.

Name

Churchill China plc

b.

LEI

213800GQ51I4LZQ5AR09

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


ISIN: GB0001961035

b.

Nature of the transaction

Grant of Options

c.

Price(s) and volume(s)

 

-    Transaction 1

 

 

 

Price(s)

Volume(s)

10p

18,945

d.

Aggregated information

 

 

 

 

 

N/A - Single Transaction

e.

Date of the transaction

21/06/2023

f.

Place of the transaction

Off market

 

 

 

 

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