HORNBY PLC

Remuneration Information • Nov 9, 2020

National Storage Mechanism | Additional information

RNS Number : 7025E

Hornby PLC

09 November 2020

Hornby PLC

(the "Company" or the "Group")

Implementation of new Long-Term Incentive Plan

Hornby PLC (AIM; HRN), the international hobby products Group, today announces that, upon the recommendation of the Group's remuneration committee, the Board has approved the implementation of a new Long-Term Incentive Plan ("LTIP"). The scheme is designed to incentivise the Company's executive directors and certain other members of the senior management team (the "Participants").

The LTIP has been established to encourage long-term value creation for the Group's shareholders and to align the interests of the Participants with shareholders. Awards under the LTIP take the form of contingent rights to acquire the Company's ordinary shares at an exercise price of 1 pence each.

The awards under the LTIP may become available for exercise on or after 31 March 2022. Awards are subject to strict conditions relating to the performance of the Group.

Further details of the Long-Term Incentive Plan

Under the terms of the LTIP, awards are subject to strict vesting criteria. These are linked to the Company's performance over pre-established dates.

The potential level of vesting will be determined by the level of Operating Profit announced in the 2021/22 Group results, expected on or around June 2022, the maximum aggregate number of 10,683,384 options vesting if the maximum Operating Profit hurdle is achieved by the Company and a pro-rata per cent. of the maximum level of options vesting if certain reduced Operating Profit hurdles are achieved.

Under the terms of the LTIP, the total equity pool under option in a cumulative ten-year period (including shares already issued in relation to previous option exercises), shall not exceed 15%. Following implementation of the LTIP, 6.4% of the Company's total issued share capital will be held under option.

Details of the initial award under the LTIP are as follows:

PARTICIPANT	LTIP OPTIONS	LTIP OPTIONS AS % OF CURRENT ISSUED SHARE CAPITAL
Lyndon Davies - Chief Executive Officer	2,670,846	1.6%
Kirstie Gould - Chief Financial Officer	2,670,846	1.6%
Timothy Mulhall - Group Sales Director	2,670,846	1.6%
Simon Davies-Kohler - Product and Marketing Director	2,670,846	1.6%
TOTAL	10,683,384	6.4%

The notification below is made in accordance with the requirements of the EU Market Abuse Regulation.

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

1.

Details of PDMR / person closely associated with them ('PCA')

a)

Name

1.     Lyndon Davies

2.     Kirstie Gould

3.     Timothy Mulhall

4.     Simon Davies-Kohler

2.

Details of PDMR / person closely associated with them ('PCA')

a)

Position / status

1.     Chief Executive Officer

2.     Chief Financial Officer

3.     Group Sales Director

4.     Product 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

Hornby PLC

b)

LEI

549300WP2GJODSTKY488

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

c)

Description of the financial instrument

Ordinary shares of £0.01 each

ISIN: GB00B01CZ652

d)

Nature of the transaction

Grant of options

e)

Price(s) and volume(s)

Price(s)	Volume(s)
1.     1p 2.     1p 3.     1p  4.     1p	2,670,846 2,670,846 2,670,846  2,670,846

f)

Aggregated information

Aggregated volume

Price

10,683,384

1p per share

g)

Date of the transaction

9 November 2020

h)

Place of the transaction

Off market transaction

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