| 29 May 2024 |
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SANDERSON DESIGN GROUP PLC
("Sanderson Design Group", the "Company" or the "Group")
Grant of Awards under LTIP
Sanderson Design Group PLC (AIM: SDG), the luxury interior design and furnishings group, announces that on 29 May 2024 it granted nil-cost options (the "Awards") over ordinary shares of 1 pence each in the Company (the "Shares") to seven people discharging managerial responsibilities ("PDMR") under the Sanderson Design Group PLC 2015 Long Term Incentive Plan (the "LTIP"), based on the average closing mid-market price for the three trading days preceding the date of grant on 29 May 2024 of 105.3 pence per Share.
Details of the Awards are set out below:
| Director/ PDMR | Number of Shares under Award on the basis of achieving the maximum performance targets |
| Lisa Montague, Chief Executive Officer | 272,481 |
| Mike Woodcock, Chief Financial Officer | 137,536 |
| Mauricio Solodujin, Global Commercial Director | 48,072 |
| Ben Naylor, Group Operations Director | 48,072 |
| Claire Vallis, Design Director | 48,072 |
| Jo Walmsley, Group People Director | 48,072 |
| Charlotte Archer, Group Marketing Director | 48,072 |
No payment was required for the grant of the Awards.
The LTIP was approved by shareholders at the 2015 AGM. The Awards are subject to the satisfaction of three performance condition underpins. Two underpins measure the financial performance of the Company, a minimum level of cumulative free cash flow over the three years to the end of FY2027, and growth in USA revenues. The third underpin is a sustainability measure, which includes making progress on the roadmap to the NetZeroby30 pledge.
The Awards shall vest in three tranches as set out below
| Tranche as a percentage of the Award | Normal Vesting Date of each tranche of the Award |
| 40% | 29 May 2027 |
| 40% | 29 May 2028 |
| 20% | 29 May 2029 |
Further details of the performance measures will be set out in the Company's 2025 Annual Report and Accounts.
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||
| a) | Name | 1. Lisa Montague 2. Mike Woodcock 3. Mauricio Solodujin 4. Ben Naylor 5. Claire Vallis 6. Jo Walmsley 7. Charlotte Archer | ||||||||||||||||
| 2. | Reason for the notification | |||||||||||||||||
| a) | Position/status | 1. Chief Executive Officer 2. Chief Financial Officer 3. Global Commercial Director 4. Group Operations Director 5. Design Director 6. Group People Director 7. Group 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 | Sanderson Design Group PLC | ||||||||||||||||
| b) | LEI | 213800A8K2WOUZJIQL93 | ||||||||||||||||
| 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 1 pence each
GB0003061511 | ||||||||||||||||
| b) | Nature of the transaction | Grant of nil cost option award under the Sanderson Design Group PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions. | ||||||||||||||||
| c) | Price(s) and volume(s) |
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| d) | Aggregated information | Not applicable | ||||||||||||||||
| e) | Date of the transaction | 29 May 2024 | ||||||||||||||||
| f) | Place of the transaction | Outside a trading venue | ||||||||||||||||
For further information:
| Sanderson Design Group PLC | c/o Buchanan +44 (0) 20 7466 5000 |
| Lisa Montague, Chief Executive Officer | |
| Mike Woodcock, Chief Financial Officer | |
| David Gracie, Company Secretary | |
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| Investec Bank plc (Nominated Adviser and Joint Broker) | +44 (0) 20 7597 5970 |
| David Anderson / Ben Farrow | |
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| Singer Capital Markets (Joint Broker) | +44 (0) 20 7496 3000 |
| Tom Salvesen / Jen Boorer / Alex Emslie |
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| Buchanan | +44 (0) 20 7466 5000 |
| Mark Court / Sophie Wills / Toto Berger / Abigail Gilchrist | |
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Notes for editors:
About Sanderson Design Group
Sanderson Design Group PLC is a luxury interior furnishings company that designs, manufactures and markets wallpapers, fabrics and paints. In addition, the Company derives licensing income from the use of its designs on a wide range of products such as bed and bath collections, rugs, blinds and tableware.
Sanderson Design Group's brands include Zoffany, Sanderson, Morris & Co., Harlequin, Clarke & Clarke and Scion.
The Company has a strong UK manufacturing base comprising Anstey wallpaper factory in Loughborough and Standfast & Barracks, a fabric printing factory, in Lancaster. Both sites manufacture for the Company and for other wallpaper and fabric brands.
Sanderson Design Group employs approximately 600 people and its products are sold worldwide. It has showrooms in London, New York, Chicago and Amsterdam.
Sanderson Design Group trades on the AIM market of the London Stock Exchange under the ticker symbol SDG.
LEI: 213800A8K2WOUZJIQL93
For further information please visit: www.sandersondesign.group
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