27 July 2023
Chamberlin plc
("Chamberlin", the "Company" or the "Group")
Grant of Share Options
Chamberlin plc (AIM: CMH.L), the specialist castings and engineering group, announces that upon the recommendation of the Chamberlin Remuneration Committee, on 27 July 2023, the Company granted share options over a total of 1,800,000 ordinary shares of 0.1p each ("Ordinary Shares") in the Company to Kevin Price, Chief Executive Officer at an exercise price of 2.95 pence ("Share Options"), under the Company's existing share option plan, the Chamberlin Performance Share Plan (the "Plan"). The Plan is intended to promote long term shareholdings by certain directors and senior management, aligning their interests with other shareholders.
In summary, the principal terms of the Share Options are as follows:
· the Share Options are granted with an exercise price of 2.95 pence per Ordinary Share;
· it is intended that the Share Options qualify as enterprise management incentive share options pursuant to Schedule 5 to the Income Tax (Earnings and Pensions) Act 2003;
· the Share Options will vest, subject to the rules of the Plan, on the third anniversary of the date of grant;
· the vesting of the Share Options is conditional on continued service (unless the director/PDMR becomes a "good leaver" in accordance with the rules of the Plan); and
· to the extent they vest, the Share Options will be exercisable until the tenth anniversary of the date of grant.
Following the grant of the Share Options, Kevin Price, Chief Executive Officer holds 2,466,666 options over Ordinary Shares and the Company has a total of 3,904,948 new Ordinary Shares currently under option, representing approximately 2.83 per cent of the Company's issued share capital.
The notification below, made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail.
Enquiries:
| Chamberlin plc Keith Butler-Wheelhouse, Chairman
| | T: 01922 707100
|
| Cenkos Securities plc (Nominated Adviser and Joint Broker) Katy Birkin Stephen Keys George Lawson
| | T: 020 7397 8900 |
| Peterhouse Capital Limited (Joint Broker) Lucy Williams Duncan Vasey | | T: 020 7469 0930 |
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 | Kevin Price
| |
| 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 | Chamberlin plc
| |
| b) | LEI | 213800OS2SK73PPFO761
| |
| 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 | Options over Ordinary Shares | |
| | Identification code | GB0001870228
| |
| b) | Nature of the transaction | Grant of options over Ordinary Shares
| |
| c) | Price(s) and volumes(s) | Price(s) | Volume(s)
|
| £0.0295 | 1,800,000
| ||
| d) | Aggregated information | N/A (single transaction)
| |
| | Aggregated volume | N/A (single transaction)
| |
| | Price | N/A (single transaction)
| |
| e) | Date of the transaction | 27 July 2023
| |
| f) | Place of the transaction | XOFF
| |
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