Conditional LTIP Awards
Company granted conditional LTIP awards of 332,885 shares to employees under the 2023 Long Term Incentive Plan.
- LTIP Awards granted 332,885 shares
- Percentage of issued share capital 0.41%
- Price used to determine awards £5.43
- Awards to Allan Pirie (CEO) 117,782 shares
- Awards to Ingrid Stewart (CFO) 66,471 shares
- Vesting period 3 years
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Ashtead Technology Holdings plc (AIM: AT.), a leading provider of subsea technology solutions to the global offshore energy sector, announces that it has conditionally granted long term incentive awards over a total of 332,885 new ordinary shares of 5 pence each in the Company at nil cost under the 2023 Long Term Incentive Plan (the "LTIP Plan"), representing approximately 0.41% of the Company's issued ordinary share capital (the "Awards") to various employees. The LTIP Plan was approved at the Company's AGM on 8 June 2023.
The Awards have been made in the ordinary course of business and are in line with prior year awards. The price used to determine the Awards was £5.43, being the five day average in the period prior to announcing the 2024 full year Results on 25 March 2025, being in line with the process in prior years.
The Awards will vest in one tranche following a three year performance period and not earlier than the date of release of the Company's annual report for the year ending 31 December 2027 (the 2027 Accounts). 50% of the award is linked to the achievement of target compound annual growth of Adjusted Earnings Per Share (as determined by the 2027 Accounts), 25% of the award is linked to the achievement of an average ROIC, and 25% of the award is linked to the achievement of total shareholder return (TSR) relative to the wider market tested against the performance of the Deutsche Numis Smaller Companies Index + AIM Index (ex-Investment Companies). The Awards are subject to clawback provisions.
The awards to Persons Discharging Managerial Responsibility are as follows:
| PDMR | Awards* |
|---|---|
| Allan Pirie | 117,782 |
| Ingrid Stewart | 66,471 |
*including dividend equivalent rights.
| Deutsche Bank AG (Nomad and Joint Broker) Julian Cater George Price Kevin Cruickshank (QE) | Tel: +44 (0)20 7260 1000 | ||
| Peel Hunt (Joint Broker) Edward Allsopp Charlotte Sutcliffe Tom Graham | Tel: +44 (0)20 7418 8900 | ||
| DGA Group (Financial PR) Jonathon Brill James Styles Fern Duncan | Tel: +44 (0)7566 794 033 ashteadtechnology@dgagroup.com | ||
| (a) | Name | 1. Allan Pirie 2. Ingrid Stewart | |
| 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 | ||
| (a) | Name | Ashtead Technology Holdings plc | |
| (b) | LEI | 213800LHEWVY66RPGR58 | |
| (a) | Description of the Financial Instrument | Ordinary shares of 5 pence each | |
| (b) | Identification code of the Financial Instrument | GB00BLH42507 | |
| (c) | Nature of the transaction | Grant of nil-cost options under the LTIP | |
| (d) | Price(s) and volume(s) | Price(s) 1. Nil 2. Nil | Volume(s) 1. 117,782 2. 66,471 |
| (e) | Aggregated information - Aggregated volume - Price | ||
| (f) | Date of the transaction | 25 September 2025 | |
| (g) | Place of the transaction | Outside of a Trading Venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.