ASHTEAD TECHNOLOGY HOLDINGS PLC

Director's Dealing • Sep 7, 2022

National Storage Mechanism | Additional information

RNS Number : 5238Y

Ashtead Technology Holdings plc

07 September 2022

7 September 2022

Ashtead Technology Holdings plc

("Ashtead Technology" or the "Group")

Grant of Awards under IPO Long-Term Incentive Plan

Ashtead Technology, the international subsea rental equipment and solutions specialist, announces that, following the Company's IPO in November 2021, and under the terms of the Company's long term incentive plan (the "IPO LTIP"), the Board has approved the award of and granted nil cost options (the "Options") over 1,097,751 ordinary shares of 5 pence each in the Company ("Ordinary Shares") to certain employees, including persons discharging managerial responsibilities ("PDMRs") detailed below.

As set out in the Admission Document and the Group's annual accounts for the year ended 31 December 2021 the Options will become exercisable in equal instalments over three years and, in each year, in proportion to the attainment of an Adjusted Earnings per Share hurdle for that year.  If the Company does not attain an Adjusted Earnings per Share in excess of a 25% hurdle (as detailed below), no Options will vest and this proportion of the Options will not be carried forward to the following year.  Where the Company attains the Adjusted Earnings per Share hurdle for 25% vesting ("25% Hurdle"), 25% of the Options for that year will vest.  Where the Company attains the Adjusted Earnings per Share hurdle for full vesting ("100% Hurdle"), all of the Options due to vest that year will vest.  If Adjusted Earnings per share is higher than the 25% Hurdle, but lower than the 100% Hurdle, the percentage of Options vesting will be linearly interpolated.   Adjusted Earnings per Share hurdles for each year are as follows: 

	Year ending 31 December 2022	Year ending 31 December 2023	Year ending 31 December 2024
Adjusted EPS needed for full vesting	18.30p	20.61p	23.59p
Adjusted EPS needed for 25% hurdle vesting	15.96p	17.17p	19.15p

Director/ PDMR	Position	Options granted
Allan Pirie	CEO	406,389
Ingrid Stewart	CFO	246,914

Following the grant, the total number of Options over Ordinary Shares under the IPO LTIP is 1,097,751 representing 1.4 per cent. of the Company's issued share capital.

For further information, please contact:

Ashtead Technology Allan Pirie, Chief Executive Officer Ingrid Stewart, Chief Financial Officer	(via Vigo Consulting)
Vigo Consulting (financial PR) Patrick d'Ancona Finlay Thomson	Tel: +44 (0)20 7390 0230
Numis Securities Limited (Nomad and Broker) Julian Cater George Price Jonny Abbott Kevin Cruickshank (QE)	Tel: +44 (0)20 7260 1000

Notes to editors:

Ashtead Technology is a leading subsea equipment rental and solutions provider for the global offshore energy sector. Ashtead Technology's specialist equipment, advanced-technologies and support services enable its customers to understand the subsea environment and manage offshore energy production infrastructure.

The Company's service offering is applicable across the lifecycle of offshore wind farms and offshore oil and gas infrastructure.

In the fast-growing offshore wind sector, Ashtead Technology's specialist equipment and services are essential through the project development, construction and installation phase. Once wind farms are operational, Ashtead Technology supports customers with inspection, maintenance and repair ("IMR") equipment and services.  In the more mature oil and gas sector, Ashtead Technology's focus is on IMR and decommissioning.

Headquartered in the UK, the Company operates globally, servicing customers from its nine facilities located in key offshore energy hubs.

Notification of transactions of persons discharging managerial responsibilities and persons closely associated with them.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Allan Pirie
2	Reason for the notification
a)	Position/status	CEO / PDMR
b)	Initial notification /Amendment	6th September 2022
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ashtead Technology Holdings PLC
b)	LEI	213800LHEWVY66RPGR58
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	Share option
b)	Nature of the transaction	Granting of share options
c)	Price(s) and volume(s)	Price(s) Nil cost options	Volume(s) 406,389
d)	Aggregated information  - Aggregated volume  - Price	406,389 Nil
e)	Date of the transaction	5th September 2022
f)	Place of the transaction	United Kingdom

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Ingrid Stewart
2	Reason for the notification
a)	Position/status	CFO / PDMR
b)	Initial notification /Amendment	6th September 2022
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Ashtead Technology Holdings PLC
b)	LEI	213800LHEWVY66RPGR58
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	Share option
b)	Nature of the transaction	Granting of share options
c)	Price(s) and volume(s)	Price(s) Nil cost options	Volume(s) 246,914
d)	Aggregated information  - Aggregated volume  - Price	246,914 Nil
e)	Date of the transaction	5th September 2022
f)	Place of the transaction	United Kingdom

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