13 February 2025
Michelmersh Brick Holdings Plc
("MBH", the "Company" or the "Group")
Exercise of LTIP Options
Michelmersh Brick Holdings PLC (AIM: MBH), the specialist brick manufacturer, announces the following Person Discharging Managerial Responsibility ("PDMR") dealings in accordance with Article 19 of the Market Abuse Regulation. Under the Company's Long Term Incentive Plan ("LTIP"), options are being exercised by certain PDMRs, with shares being issued from the Company's Employee Benefit Trust ("EBT"). Details of the exercise of options are below.
| PDMR | Role | Number of options exercised | Number of Ordinary Shares received pursuant to the exercise* | Enlarged Interest in Ordinary Shares | Enlarged Interest in Ordinary Shares as a Percentage of Issued Share Capital |
| Peter Sharp | CEO | 76,871 | 41,076 | 145,233 | 0.16% |
| Ryan Mahoney | CFO | 59,960 | 32,040 | 32,040 | 0.03% |
* The options have been exercised on a cash-less basis, after deductions for income tax and national insurance contributions.
Following this exercise, there are no further LTIP options outstanding under the 2022 grant and a total of 962,776 ordinary shares are held by the EBT, representing approximately 1.00% per cent of the Company's total voting rights.
| 1 | Details of PDMR / person closely associated with them ('PCA')
| ||
| a) | Full Name | Peter Sharp
| |
| 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 participation, auction platform, auctioneer or auction monitor | ||
| a) | Name | Michelmersh Brick Holdings plc | |
| b) | LEI | 213800CIFQFPAHIQE695 | |
| 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
Identification code | Ordinary shares of 20 pence each in the capital of the Company
ISIN: GB00B013H060 | |
| b) | Nature of the transaction | Exercise of 2022 LTIP Nil-Cost Options under the Long Term Incentive Plan 2022
| |
| c) | Price(s) and volume(s)
| Price: Nil
Volume: 41,076
The above number of shares are the net number after deducting for income tax and national insurance contributions.
| |
| d) | Aggregated information Aggregated volume and Price | N/A - single transaction | |
| e) | Date of the transaction
| 12 February 2025 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1 | Details of PDMR / person closely associated with them ('PCA')
| ||
| a) | Full Name | Ryan Mahoney
| |
| 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 participation, auction platform, auctioneer or auction monitor | ||
| a) | Name | Michelmersh Brick Holdings plc | |
| b) | LEI | 213800CIFQFPAHIQE695 | |
| 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
Identification code | Ordinary shares of 20 pence each in the capital of the Company
ISIN: GB00B013H060 | |
| b) | Nature of the transaction | Exercise of 2022 LTIP Nil-Cost Options under the Long Term Incentive Plan 2022
| |
| c) | Price(s) and volume(s)
| Price: Nil
Volume: 32,040
The above number of shares are the net number after deducting for income tax and national insurance contributions.
| |
| d) | Aggregated information Aggregated volume and Price | N/A - single transaction | |
| e) | Date of the transaction
| 12 February 2025 | |
| f) | Place of the transaction | Outside a trading venue | |
For further information, please contact:
| Michelmersh Brick Holdings Plc Peter Sharp, Chief Executive Officer Ryan Mahoney, Chief Financial Officer | Tel: +44 (0)1825 430 412 |
| Canaccord Genuity Limited (NOMAD and Broker) Max Hartley Bobbie Hilliam Harry Pardoe | Tel: +44 (0)20 7523 8000
|
| Yellow Jersey PR Charles Goodwin Annabelle Wills | Tel: +44 (0)7747 788 221 Tel: +44 (0)7775 194 357 |
About Michelmersh Brick Holdings PLC:
Michelmersh Brick Holdings PLC is a business with seven market leading brands: Blockleys, Carlton, FabSpeed, Freshfield Lane, Michelmersh, Floren.be and Hathern Terra Cotta. These divisions operate within a fully integrated business, combining the production of premium, precision-made bricks, pavers, special shaped bricks, bespoke Terra Cotta products and prefabricated brick components. The Group also includes a landfill operator, New Acres Limited, and seeks to develop future landfill and development opportunities on ancillary land assets.
Established in 1997, the Company has grown through acquisition and organic growth into a profitable and asset rich business, producing over 120 million clay bricks and pavers per annum. Michelmersh currently owns most of the UK's premium manufacturing brick brands and is a leading specification brick and clay paving manufacturer.
Michelmersh strives to be a well invested, long term, sustainable, environmentally responsible business. Opportunity, training and security for all employees, whilst meeting the needs of stakeholders are at the forefront of everything we do. We aim to lead the way in producing some of Britain's premium clay products and enhancing our environment by adding value to the architectural landscape for generations to come.
We are Michelmersh Brick Holdings PLC: we are "Britain's Brick Specialist".
Please visit the Group's websites at: www.mbhplc.co.uk and www.bimbricks.com
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