CHURCHILL CHINA PLC

Director's Dealing • May 4, 2018

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RNS Number : 2298N

Churchill China PLC

04 May 2018

4  May 2018

Churchill China plc (the "Company")

Grant of Options under LTIP

Grant of Share Options

On 4 May 2018, the following options over 10p ordinary shares in the Company ("Ordinary Shares") were granted under the Churchill China Long Term Incentive Plan ("CCLTIP") (the "Grants"):

Director	Position	Number of options over Ordinary Shares granted	Exercise Price	Market Price at Date of Grant
David O'Connor	Chief Executive Officer	14,570	10p	1,117.5p
David Taylor	Finance Director	11,216	10p	1,117.5p
James Roper	Sales and Marketing Director	9,347	10p	1,117.5p

The Grants are subject to the achievement of performance conditions as specified by the Remuneration Committee and are subject to claw back provisions in certain circumstances. The performance conditions require that the Company's adjusted (pre-exceptional items and adjusted for pension interest charges and credits) earnings per share ("Adjusted EPS") for the financial year ending 31 December 2020 reaches the following figures for each level of vesting:

Adjusted EPS for year ending 31 December 2020	% Increase on 2017	% of Grant that Vests
72.1p	26%	25%
75.9p	33%	40%
79.7p	40%	100%

Between these target levels, share options will vest on a straight line basis and shares will vest, subject to the achievement of these performance conditions, from 4 May 2021.

The Adjusted EPS for the base year 2017 has been calculated as 57.0p excluding the net effect of pension fund interest charges and exceptional items.

The Grant values represent 60 per cent of current base salary for each participant.

Resultant Holdings

Following Grant of new options set out above:

David O'Connor is interested in 48,520 Ordinary Shares representing 0.4 per cent. of the total issued share capital of the Company. David O'Connor also holds options over Ordinary Shares as follows:

Options Held	Option Exercise Price	Expiry Date
14,570	10p	04.05.2028
15,179	10p	02.05.2027
12,698	10p	16.05.2026
16,804	10p	07.05.2025

David Taylor is interested in 60,555 Ordinary Shares representing 0.6 per cent. of the total issued share capital of the Company. David Taylor also holds options over Ordinary Shares as follows:

Options Held	Option Exercise Price	Expiry Date
11,216	10p	04.05.2028
11,685	10p	02.05.2027
10,159	10p	16.05.2026
14,123	10p	07.05.2025

James Roper is interested in 1,034,835 Ordinary Shares representing 9.4 per cent. of the total issued share capital of the Company. James Roper also holds options over Ordinary Shares as follows:

Options Held	Option Exercise Price	Expiry Date
9,347	10p	04.05.2028
9,737	10p	02.05.2027
8,127	10p	16.05.2026

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail:

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David O'Connor
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	Churchill China plc
b)	LEI	213800GQ51I4LZQ5AR09
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 10 pence each
Identification code	GB0001961035
b)	Nature of the transaction	Grant of options to acquire ordinary shares (exercise price of 10p)
c)	Price(s) and volume(s)
		Exercise price(s)	Volume(s)
		10 pence	14,570
d)	Aggregated information	n/a
- Aggregated volume
- Price
e)	Date of the transaction	4 May 2018
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	David Taylor
2	Reason for the notification
a)	Position/status	Finance Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Churchill China plc
b)	LEI	213800GQ51I4LZQ5AR09
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 10 pence each
Identification code	GB0001961035
b)	Nature of the transaction	Grant of options to acquire ordinary shares (exercise price of 10p)
c)	Price(s) and volume(s)
		Exercise price(s)	Volume(s)
		10 pence	11,216
d)	Aggregated information	n/a
- Aggregated volume
- Price
e)	Date of the transaction	4 May 2018
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	James Roper
2	Reason for the notification
a)	Position/status	Sales and Marketing Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Churchill China plc
b)	LEI	213800GQ51I4LZQ5AR09
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 10 pence each
Identification code	GB0001961035
b)	Nature of the transaction	Grant of options to acquire ordinary shares (exercise price of 10p)
c)	Price(s) and volume(s)
		Exercise price(s)	Volume(s)
		10 pence	9,347
d)	Aggregated information	n/a
- Aggregated volume
- Price
e)	Date of the transaction	4 May 2018
f)	Place of the transaction	Off market

For further details, please contact:

Churchill China plc
David Taylor, Finance Director	+44 (0)1782 577566
N+1 Singer (NOMAD & Broker)
Richard Lindley	+44 (0)20 7496 3000
Buchanan
Mark Court /Sophie Wills/Gemma Mostyn-Owen	+44(0)20 7466 5000

This information is provided by RNS

The company news service from the London Stock Exchange

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