RNS Number : 9919F
Brickability Group PLC
27 September 2024
 

 

Brickability Group PLC 

LEI: 213800SK28MWXB3K3P26

 

27 September 2024

 

Brickability Group PLC

 

(the "Company" or the "Group")

 

Grant of Options

 

Brickability Group PLC, the leading construction materials distributor, announces that on 25 September 2024 it awarded a total of 4,588,501 options to subscribe for new ordinary shares in the Company under the Brickability Group PLC Long Term Incentive Plan ("LTIP"). Of these, 3,310,385  are conditional performance related options and include the following options granted to Directors and Senior Management ("Management Options").

Individual

Role

Number of LTIP Options

Frank Hanna

Chief Executive Officer

865,385

Mike Gant

Chief Financial Officer

520,000

Paul Hamilton

MD, Distribution

678,976

Richard Cosgrove

MD, Bricks & Building Materials

215,385

Kenny Hirst-Sewell

MD, Taylor Maxwell & Co

284,615

Alex Moffat

MD, Taylor Maxwell Timber

208,025

 

The Management Options are exercisable on the same terms as previous options granted under the Company's LTIP, each exercisable at the nominal price of 1 penny and have vesting conditions tied to adjusted EBITDA and total shareholder return, with each award split equally between the two performance conditions. Vesting will occur on a straight-line basis on achieving 18% (equivalent to 6% annually) to 30% (equivalent to 10% annually) of the relevant performance condition over the performance period. There is no vesting if the relevant target is not met but a 25% vesting if the initial 18% hurdle is met with a proportionate additional vesting up to 100% if the 30% threshold is met. To the extent vested, the options will be subject to a two-year holding period following the expiry of the performance period. The performance period will be 1 April 2024 to 31 March 2027.

 

The balance of the options awarded (being 1,278,116) are restricted share options which are being issued to a number of Group employees outside of the senior management team. These are not subject to performance conditions or the additional holding period but, as with all options awarded under the plan, require that grantees remain in the Group's employment for the duration of the vesting period being the period from 1 April 2024 to 31 March 2027.

 

Enquiries:

 

Brickability Group PLC

 

 

via Montfort Communications

John Richards, Chairman

Frank Hanna, Chief Executive Officer


Mike Gant, Chief Financial Officer

 


Peel Hunt LLP (Nominated Adviser and Broker)

Ed Allsopp

Tom Graham

 

 

Montfort Communications

James Olley

Alex Everett

 

 

  +44 (0) 20 7418 8900

 

 

+44 (0) 203 514 0897

brickability@montfort.london

 

About Brickability

Brickability Group PLC is a leading distributor and provider of specialist products and services to the UK construction industry. The business comprises four divisions: Bricks and Building Materials, Importing, Distribution and Contracting. With an agile, de-centralised, capital-light business model, supported by a strong balance sheet, Brickability leverages the skills of its people company-wide to effectively service the complex and evolving needs of the construction industry.

 

Founded in 1985, the Group has grown organically through product diversification and geographic expansion, as well as through the acquisition of specialist businesses that support its long-term strategy for growth. Today, the Group encompasses a diverse portfolio of market-leading brands and a dedicated team of over 800 skilled professionals, led by a management team with deep-rooted knowledge and experience in the UK and European construction industries.

 

The Group is committed to building better communities throughout the supply chain and supporting the delivery of sustainable developments that enhance the built environment for future generations, while delivering continuous value for shareholders.

 

 

 

The Company makes the following disclosures in accordance with article 19(3) of the Market Abuse Regulation:

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Frank Hanna

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

Brickability Group PLC

b)

LEI

213800SK28MWXB3K3P26

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 for Ordinary Shares exercisable at £0.01


GB00BK63S759

b)

Nature of the transaction

Grant of Options

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

n/a

865,385



 

 

d)

Aggregated information

- Aggregated volume

- Price

 

n/a

e)

Date of the transaction

25 September 2024

f)

Place of the transaction

Outside of a trading platform

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mike Gant

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

Brickability Group PLC

b)

LEI

213800SK28MWXB3K3P26

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 for Ordinary Shares exercisable at £0.01


GB00BK63S759

b)

Nature of the transaction

Grant of Options

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

n/a

520,000



 

 

d)

Aggregated information

- Aggregated volume

- Price

 

n/a

e)

Date of the transaction

25 September 2024

f)

Place of the transaction

Outside of a trading platform

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Paul Hamilton

2

Reason for the notification

a)

Position/status

MD, Distribution

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Brickability Group PLC

b)

LEI

213800SK28MWXB3K3P26

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 for Ordinary Shares exercisable at £0.01


GB00BK63S759

b)

Nature of the transaction

Grant of Options

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

n/a

678,976



 

 

d)

Aggregated information

- Aggregated volume

- Price

 

n/a

e)

Date of the transaction

25 September 2024

f)

Place of the transaction

Outside of a trading platform

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Richard Cosgrove

2

Reason for the notification

a)

Position/status

MD, Bricks & Building Materials

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Brickability Group PLC

b)

LEI

213800SK28MWXB3K3P26

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 for Ordinary Shares exercisable at £0.01


GB00BK63S759

b)

Nature of the transaction

Grant of Options

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

n/a

215,385



 

 

d)

Aggregated information

- Aggregated volume

- Price

 

n/a

e)

Date of the transaction

25 September 2024

f)

Place of the transaction

Outside of a trading platform

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Kenny Hirst-Sewell

2

Reason for the notification

a)

Position/status

MD, Taylor Maxwell & Co

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Brickability Group PLC

b)

LEI

213800SK28MWXB3K3P26

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 for Ordinary Shares exercisable at £0.01


GB00BK63S759

b)

Nature of the transaction

Grant of Options

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

n/a

284,615



 

 

d)

Aggregated information

- Aggregated volume

- Price

 

n/a

e)

Date of the transaction

25 September 2024

f)

Place of the transaction

Outside of a trading platform

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Alex Moffat

2

Reason for the notification

a)

Position/status

MD, Taylor Maxwell Timber

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Brickability Group PLC

b)

LEI

213800SK28MWXB3K3P26

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 for Ordinary Shares exercisable at £0.01


GB00BK63S759

b)

Nature of the transaction

Grant of Options

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

n/a

208,025



 

 

d)

Aggregated information

- Aggregated volume

- Price

 

n/a

e)

Date of the transaction

25 September 2024

f)

Place of the transaction

Outside of a trading platform

 

 

 

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