CT Automotive Group plc (the "Company")
Grant of awards under Long Term Incentive Plan
CT Automotive Group plc announces that on 1 February 2024, the Company awarded 374,999 nominal cost options under the CT Automotive Long Term Incentive Plan 2022 to certain senior executives, including its Chief Executive Officer (as set out in the table below). The award is over ordinary shares of £0.005 ("Ordinary Shares") in the form of options to acquire Ordinary Shares at nominal value ("LTIP Awards").
| Executive | Role | Number of LTIP Awards |
| Simon Phillips | Chief Executive Officer and Director | 134,146 |
The LTIP Awards to senior executives will vest on the third anniversary of grant subject to meeting earnings per share performance criteria for the three year period ending FY2025. 25% of the LTIP Awards will vest on meeting minimum performance criteria, with vesting thereafter on a straight-line basis.
In addition, the Company awarded 97,560 nominal cost options under the same plan to certain senior managers. These awards vest on the third anniversary of grant subject to continued employment and no further performance conditions.
For further information, please contact:
| CT Automotive Simon Phillips, Chief Executive Officer | via MHP |
| | |
| MHP (Financial PR) Tim Rowntree Charlie Barker | Tel: +44 (0)20 3100 8540 CTAutomotive@mhpgroup.com
|
| | |
| Liberum (Nominated Adviser and Broker) Richard Lindley Benjamin Cryer | Tel: +44 (0)20 3100 2000
|
The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014:
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
| (a) | Name | Simon Phillips | ||||||
| 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 | CT Automotive Group plc | ||||||
| (b) | LEI | 213800RP7B4UJ1DDKY67 | ||||||
| 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 | Options over Ordinary shares of £0.005 pence each ISIN GB00BMHYGR77
| ||||||
| (b) | Nature of the transaction | Award of options pursuant to CT Automotive Group plc 2022 Long Term Incentive Plan | ||||||
| (c) | Price(s) and volume(s) |
| ||||||
| (d) | Aggregated information - Aggregated volume - Price | N/A | ||||||
| (e) | Date of the transaction | 1 February 2024 | ||||||
| (f) | Place of the transaction | Outside a trading venue | ||||||
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.