Springfield Properties PLC

Remuneration Information • Jan 13, 2020

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RNS Number : 5167Z

Springfield Properties PLC

13 January 2020

13 January 2020

Springfield Properties plc

("Springfield" or the "Company")

Grant of performance share awards

Springfield Properties plc (AIM: SPR), a leading housebuilder in Scotland offering private and affordable housing, announces that, on 9 January 2020, the Company granted options over ordinary shares of 0.125 pence each in the capital of the Company ("Awards") to certain PDMRs, pursuant to the Company's newly established Performance Share Plan (the "PSP"), the details of which are set out below:

Name	Role	No. of Shares over which Awards granted
Innes Smith	Chief Executive Officer	127,828
Michelle Motion	Chief Financial Officer	68,176

The PSP has been established to incentivise Directors and senior management to deliver long term value for shareholders and align their interest with shareholders whilst minimising dilution to shareholders. Further details of the PSP will be included in the Company's next annual report and financial statements (the "Annual Report").

No consideration was paid for the grant of the Awards, which have been structured as "nominal cost" options. The Awards will normally vest on the third anniversary of grant but only if, and to the extent that, certain performance conditions are satisfied. These conditions (which have been set by the Remuneration Committee of the Company and will be assessed over a total of three financial years) relate to the achievement of specified targets applicable to earnings per share and net debt / EBITDA. Vesting will also normally be dependent on the continued employment of the participant within the Company's group.

Once the Awards have vested, they will generally be available to be exercised until the tenth anniversary of their original grant. On any such exercise, additional "dividend equivalent" entitlements may also be paid to the relevant individuals.

Further details of the performance conditions for the above Awards will be included in the Company's Annual Report.

Enquiries

Springfield Properties
Sandy Adam, Executive Chairman Innes Smith, Chief Executive Officer	+44 1343 552550
N+1 Singer
Shaun Dobson, James Moat (Corporate Finance) Rachel Hayes (Corporate Broking)	+44 20 7496 3000
Luther Pendragon
Harry Chathli, Claire Norbury, Alexis Gore, Joe Quinlan	+44 20 7618 9100

The following notifications are intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

1.   Innes Smith

2.   Michelle Motion

2

Reason for the notification

a)

Position/status

1.   Chief Executive Officer

2.   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

Springfield Properties plc

b)

LEI

21380026UDE3LKFSDP68

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

Ordinary shares of 0.125 pence each ("Shares")

Identification code

GB00BF1QPG26

b)

Nature of the transaction

Grant of awards (in the form of nominal cost options) over Shares pursuant to the Springfield Properties plc Performance Share Plan

c)

Price(s) and volume(s)

	Price(s)	Volume(s)
1.	0.125 pence (exercise price)	127,828
2.	0.125 pence (exercise price)	68,176

d)

Aggregated information

-   Aggregated volume

-   Price

1.   N/A single transaction

2.   N/A single transaction

e)

Date of the transaction

2020-01-09

f)

Place of the transaction

Off market

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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