Billington Holdings Plc
(the "Company" or "Billington")
Awards under the Company's Long Term Incentive Plan
Billington Holdings Plc (AIM: BILN), one of the UK's leading structural steel and construction safety solutions specialists, confirms that its Remuneration Committee (the "Committee") has agreed the following awards under the Long Term Incentive Plan (the "Plan" or "LTIP").
The objective of the Plan is to ensure that the strategic objectives of the Company align with those of the senior management and that the structure of the overall remuneration package assists in maximising shareholder value.
The performance criteria for these LTIP awards over Ordinary Shares of 10p each in the Company ("Ordinary Shares") specifically relates to the profitability of the Company. The full vesting will only occur should profitability targets be achieved during the performance period of the award.
Two awards are made under the Plan, the first relates to the period 2023-2025 and the performance criteria for the 2023-2025 period relate to a cumulative statutory unadjusted Profit Before Tax (PBT) range of £25 million (25% vests) to £31 million (100% vests).
The second award relates to the period 2024 to 2026 and the performance criteria for the 2024-2026 period relate to a cumulative statutory unadjusted Profit Before Tax (PBT) range of £28 million (25% vests) to £37.2 million (100% vests).
The following awards have been made in this round of the Plan:
| Name | Position | Ordinary share options granted under the Plan - 2023-2025 | Ordinary share options granted under the Plan - 2024- 2026 | Total Ordinary share options held under the Plan | Total shares held under Deferred Bonus Plan ("DBP") | Total ordinary shareholding in BILN (excluding those held in the DBP) | Total Potential % Shareholding including options and DBP shares |
| Mark Smith | Chief Executive Officer | 67,470 | 51,852 | 245,765 | 46,115 | 129,187 | 3.26% |
| Trevor Taylor | Chief Financial Officer | 55,422 | 42,593 | 192,847 | 34,586 | 101,548 | 2.54% |
For further information please contact:
| Billington Holdings Plc Mark Smith, Chief Executive Officer Trevor Taylor, Chief Financial Officer | Tel: 01226 340 666 |
| Cavendish Capital Markets Ltd - Nomad and Broker Ed Frisby / Charlie Beeson - Corporate Finance Andrew Burdis - ECM
| Tel: 020 7220 0500 |
| IFC Advisory Limited Tim Metcalfe Graham Herring Zach Cohen | Tel: 020 3934 6630 billington@investor-focus.co.uk |
About Billington Holdings plc
Billington Holdings plc (AIM: BILN), one of the UK's leading structural steel and construction safety solutions specialists, is a UK based Group of companies focused on structural steel and engineering activities throughout the UK and European markets. Group companies pride themselves on the provision of high technical and professional standards of service to niche markets with emphasis on building strong, trusted and long-standing partnerships with all of our clients. https://billington-holdings.plc.uk/
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 | Mark Smith | ||||
| 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 | Billington Holdings Plc | ||||
| b) | LEI | 213800MUHLXWQQ6MEN67 | ||||
| 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
GB0000332667 | ||||
| b) | Nature of the transaction | Award under Long Term Incentive Plan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
119,322 Nil | ||||
| e) | Date of the transaction | 1 May 2024 | ||||
| f) | Place of the transaction | Off Market | ||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Trevor Michael Taylor | ||||
| 2 | Reason for the 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 | Billington Holdings Plc | ||||
| b) | LEI | 213800MUHLXWQQ6MEN67 | ||||
| 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
GB0000332667 | ||||
| b) | Nature of the transaction | Award under Long Term Incentive Plan | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price |
98,015 Nil | ||||
| e) | Date of the transaction | 1 May 2024 | ||||
| f) | Place of the transaction | Off Market | ||||
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