Van Elle Holdings plc

('Van Elle', the 'Company' or the 'Group')

Director/PDMR LTIP Awards

Van Elle Holdings plc (AIM: VANL), the UK's largest ground engineering contractor, announces that on 4 September 2023, awards were made over ordinary shares of 2 pence each in the capital of the Company ("Ordinary Shares") under the Long Term Incentive Plan 2016 ("LTIP") (the "Awards"). 

The Awards have been granted in the form of an option to acquire Ordinary Shares at an exercise price of 2 pence each. The number of options which vest, conditional upon continued employment, are subject to the Group achieving certain performance criteria based on a combination of a Total Shareholder Return and Return on Capital Employed targets, aligned to the Group's medium-term financial objectives.

The Awards are governed by the rules of the LTIP, and subject thereto, vest on the third anniversary of the date of grant to the extent determined in accordance with the performance criteria.

The Awards were issued to certain directors and PDMRs of the Company, as set out below:

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About Van Elle Holdings plc:

Van Elle Holdings is the UK's largest specialist geotechnical engineering contractor. Formed in 1984 and listed on AIM in 2016, the Company provides a wide range of ground engineering techniques and services including ground investigation, general and specialist piling, rail geotechnical engineering, modular foundations, and ground improvement and stabilisation services.

Van Elle operates through three divisions: General Piling, Specialist Piling and Rail, and Ground Engineering Services; and is focused on diverse end markets including residential and housing, infrastructure and regional construction - across which the Group has completed more than 20,000 projects over the last 35 years.