Hill & Smith PLC

Share Issue/Capital Change • May 16, 2017

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RNS Number : 3437F

Hill & Smith Hldgs PLC

16 May 2017

16 May 2017

Hill & Smith Holdings PLC

Announcement of grant of awards under the rules of the

2014 Long Term Incentive Plan and the 2014 Executive Share Option Scheme

Notification under paragraphs 3.1.2R to 3.1.4R of the Disclosure and Transparency Rules

LTIP Award - 16 May 2017

On 16 May 2017 the Board of Hill & Smith Holdings PLC ('Hill & Smith' or the 'Company') approved the grant of awards in the form of nil-cost options over ordinary shares in the Company in accordance with the provisions of the Hill & Smith Holdings 2014 Long Term Incentive Plan (the 'LTIP'). 

Mr D W Muir has been granted a nil cost option over 46,863 ordinary shares and Mr M Pegler has been granted a nil-cost option over 32,804 ordinary shares.

The awards were based on a share price of 1,315.0p, being the average of the mid-market prices for the three trading days prior to the grant date of 16 May 2017. 

Both Mr Muir and Mr Pegler were also granted an award in the form of a tax qualifying option, in accordance with the provisions of the Hill & Smith Holdings 2014 Executive Share Option Scheme (the 'ESOS'), over 2,281 ordinary shares with an exercise price of 1,315.0p per ordinary share on terms which are similar to the awards under the LTIP (together the 'Awards'). If the options under the ESOS are exercised at a gain, the LTIP awards will be reduced by the same value to ensure that the combined pre-tax value delivered to participants remains the same as that for the maximum permitted award under the LTIP. 

Under the rules of the LTIP, the ESOS and the Company's Remuneration Policy, the vesting of the Awards is subject to the achievement of set performance conditions which are based upon the growth in the Company's underlying earnings per share and its total shareholder return, over the three year period commencing on 1 January 2017 (the 'Vesting Period'). The awards will, (subject to the achievement of the performance conditions), vest following the end of the Vesting Period.

Following the grant of these Awards, Mr Muir and Mr Pegler have the following interests in the Company's shares:

Individual	Number of shares in which there is a beneficial interest	Total number of shares awarded or subject to options under the LTIP, ESOS and SAYE Scheme
Mr D W Muir	292,893	183,883
Mr M Pegler	50,032	123,400

1.	Details of the person discharging managerial responsibilities/person closely associated
(a)	Name	i.         Mr D W Muir ii.        Mr M Pegler
2.	Reason for the notification
(a)	Position/status	i.         Chief Executive Officer ii.        Group Finance Director
(b)	Initial notification/ Amendment	Initial notification
3.	Details of the issuer
(a)	Name	Hill & Smith Holdings PLC
(b)	LEI	2138003A3ISGQZBOWI83
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	Ordinary shares of £0.25 each
(b)	Identification code of the Financial Instrument	GB0004270301
(c)	Nature of the transaction	Grant of awards
(d)	Price(s) and volume(s)	Price(s)	Volume(s)
		i.         Nil ii.        Nil	i.       46,863 ii.      32,804
(e)	Aggregated information -              Aggregated volume -              Price	79,667 shares Nil Cost
(f)	Date of the transaction	16 May 2017
(g)	Place of the transaction	London Stock Exchange

Enquiries:

Alex Henderson

Company Secretary

Tel: +44 (0) 121 704 7430

This information is provided by RNS

The company news service from the London Stock Exchange

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