Awards under Company’s Long Term Incentive Plan
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Billington Holdings Plc (AIM: BILN), one of the UK's leading structural steel and construction safety solutions specialists, confirms that its Remuneration Committee (the "Committee") has agreed the following awards under the Long Term Incentive Plan (the "Plan" or "LTIP").
The objective of the Plan is to ensure that the strategic objectives of the Company align with those of the senior management and that the structure of the overall remuneration package assists in maximising shareholder value.
The performance criteria for these LTIP awards over Ordinary Shares of 10p each in the Company ("Ordinary Shares") specifically relates to the profitability of the Company. The full vesting will only occur should profitability targets be achieved during the performance period of the award.
Two awards are made under the Plan, the first relates to the period 2023-2025 and the performance criteria for the 2023-2025 period relate to a cumulative statutory unadjusted Profit Before Tax (PBT) range of £25 million (25% vests) to £31 million (100% vests).
The second award relates to the period 2024 to 2026 and the performance criteria for the 2024-2026 period relate to a cumulative statutory unadjusted Profit Before Tax (PBT) range of £28 million (25% vests) to £37.2 million (100% vests).
The following awards have been made in this round of the Plan:
| Name | Position | Ordinary share options granted under the Plan - 2023-2025 | Ordinary share options granted under the Plan - 2024- 2026 | Total Ordinary share options held under the Plan | Total shares held under Deferred Bonus Plan ("DBP") | Total ordinary shareholding in BILN (excluding those held in the DBP) | Total Potential % Shareholding including options and DBP shares |
| Mark Smith | Chief Executive Officer | 67,470 | 51,852 | 245,765 | 46,115 | 129,187 | 3.26% |
| Trevor Taylor | Chief Financial Officer | 55,422 | 42,593 | 192,847 | 34,586 | 101,548 | 2.54% |
| a) | Name | Mark Smith | |||||
| 2 | Reason for the notification | ||||||
| a) | Position/status | Chief Executive Officer | |||||
| b) | Initial notification/ Amendment | Initial Notification | |||||
| a) | Name | Billington Holdings Plc | |||||
| b) | LEI | 213800MUHLXWQQ6MEN67 | |||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of 10p each GB0000332667 | |||||
| b) | Nature of the transaction | Award under Long Term Incentive Plan | |||||
| c) | Price(s) and volume(s) | Price(s) Volume(s) Nil Nil 67,470 (2023-25) 51,852 (2024-26) | |||||
| d) | Aggregated information - Aggregated volume - Price | 119,322 Nil | |||||
| e) | Date of the transaction | 1 May 2024 | |||||
| f) | Place of the transaction | Off Market | |||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||||
| a) | Name | Trevor Michael Taylor | |||||
| 2 | Reason for the notification | ||||||
| a) | Position/status | Chief Financial Officer | |||||
| b) | Initial notification/ Amendment | Initial Notification | |||||
| a) | Name | Billington Holdings Plc | |||||
| b) | LEI | 213800MUHLXWQQ6MEN67 | |||||
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary Shares of 10p each GB0000332667 | |||||
| b) | Nature of the transaction | Award under Long Term Incentive Plan | |||||
| c) | Price(s) and volume(s) | Price(s) Volume(s) Nil Nil 55,422 (2023-25) 42,593 (2024-26) | |||||
| d) | Aggregated information - Aggregated volume - Price | 98,015 Nil | |||||
| e) | Date of the transaction | 1 May 2024 | |||||
| f) | Place of the transaction | Off Market |
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