Grant of Awards
CT Automotive Group PLC has awarded a total of 2,077,108 ordinary shares under its Executive Long Term Incentive Plan to its Chief Executive Officer, Chief Commercial Officer, and Chief Operating Officer, with vesting scheduled for June 30, 2029. These awards are subject to performance conditions including EPS targets, revenue growth with a CAGR of 8%-12% for FY26-FY28 aiming for aggregate revenue between $402.5 million and $433.9 million, and a Total Shareholder Return target of 20%-30% CAGR. Additionally, 311,925 ordinary shares were granted under the Management Share Option plan to seven senior employees, subject to a three-year vesting period without performance conditions. Following these grants, options will represent approximately 5.8% of the issued share capital, with 80% of those subject to performance conditions.
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CT Automotive, a leading designer, developer and supplier of interior components to the global automotive industry, announces that on 2 July 2026, the Company awarded options over a total of 2,077,108 ordinary shares of £0.005 ("Ordinary Shares") under the Executive Long Term Incentive Plan ("LTIP") to Chief Executive Officer (Simon Phillips), Chief Commercial Officer (Scott Mckenzie) and Chief Operating Officer (Graham Mackey) (together, the "LTIP Awards").
In considering the terms of the LTIP Awards, the Company has consulted with several of its major shareholders, and their terms reflect the outcome of that consultation.
The table below sets out details of each award granted to the senior executives:
| Individuals | Role | Performance conditions | Number of LTIP Awards granted |
|---|---|---|---|
| Simon Phillips | Chief Executive Officer | LTIPs based on three different performance targets which apply to three equal tranches of options under the grant: Tranche 1 (33.3% weighting) : EPS performance targets applying to each third of Tranche 1 shares, over the next three financial years; Tranche 2 (33.3% weighting) : Revenue performance targets based on CAGR of 8% - 12% of aggregate revenue for the three financial years FY26, FY27 and FY28 with 25% of the Tranche 2 options vesting at a threshold aggregate revenue of $402.5 million and 100% of Tranche 2 options vesting at aggregate revenue of $433.9 million with vesting on a straight-line basis between the threshold target and stretch target; and Tranche 3 (33.3% weighting) : An absolute Total Shareholder Return target based on achieving CAGR rates of 20% to 30% over the next three financial years on a base price calculated as the average share price over 30 days from the last practicable date prior to grant of 33.46 pence. Vesting takes place on a straight-line basis between the threshold target and stretch target. | 1,569,038 |
| Scott Mckenzie | Chief Commercial Officer | LTIPs based on two different performance targets which apply to two equal tranches of options under the grant: Tranche 1 (50% weighting) : EPS performance targets applying to each third of Tranche 1 shares over the next three financial years; and Tranche 2 (50% weighting) : Revenue performance targets based on CAGR of 8% - 12% of aggregate revenue for the three financial years FY26, FY27 and FY28 with 25% of the Tranche 2 options vesting at a threshold aggregate revenue of $402.5 million and 100% of Tranche 2 options vesting at aggregate revenue of $433.9 million with vesting on a straight-line basis between the threshold target and stretch target. | 328,751 |
| Graham Mackey | Chief Operating Officer | LTIPs based on EPS performance targets applying to three separate tranches, over the next three financial years. | 179,319 |
The LTIP Awards vest on 30 June 2029. The Remuneration Committee has elected to set performance targets in excess of market forecasts to align shareholder interests with those of management. Performance targets should not be interpreted as financial guidance or forecasts by the Company.
Management Share Option Awards
In addition, the Company has awarded options over 311,925 Ordinary Shares under the Management Share Option plan to seven further senior employees of the Company (together the "MSOP Awards"). The MSOP Awards are subject to a 3-year vesting period with no performance conditions attached.
Both the LTIP Awards and MSOP Awards have been granted in the form of options to acquire Ordinary Shares at nominal value.
Ordinary Shares Under Option
Excluding the grant set out above the Group currently has in issue a total of approximately 1.42 million options representing approximately 1.9% of the issued share capital. Of the options currently in issue, approximately 1.0 million are not expected to vest, leaving options equal to less than 0.7% of the issued share capital likely to vest.
Following the grants set out above, options in issue by the Group will represent approximately 5.8% of the current issued share capital. Excluding those options which the Remuneration Committee do not expect to vest, and following the grant set out above, options in issue by the Group will represent approximately 3.9% of the issued share capital with 80% of those subject to performance conditions.
| CT Automotive Ray Bench, Non-Executive Chairman Simon Phillips, Chief Executive Officer | Via Singer Capital Markets |
| Singer Capital Markets Advisory LLP (Nominated Adviser and Broker) Alex Bond, Dan Ingram | Tel: +44 (0)20 7496 3000 |
The information set out below is provided in accordance with the requirements of Regulation 19(3) of the EU Market Abuse Regulation No 596/2014:
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Full name of person Dealing | Simon Phillips |
| 2 | Reason for the Notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification / Amendment | Initial notification |
| a) | Name of entity | CT AUTOMOTIVE GROUP PLC |
| b) | Legal Entity Identifier code | 213800RP7B4UJ1DDKY67 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of 0.5 pence each |
| Identification code | GB00BMHYGR77 | |
| b) | Nature of the transaction | Award of LTIP Options |
| c) | Number of shared acquired or disposed of | Exercise Price Volume(s) £0.005 1,569,038 |
| Price (per share) | ||
| d) | Aggregated information Aggregated volume Price | N/A |
| e) | Date of transaction | 2 July 2026 |
| f) | Place of transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Full name of person Dealing | Scott Mckenzie |
| 2 | Reason for the Notification | |
| a) | Position/status | Chief Commercial Officer for Sales and Product Development |
| b) | Initial notification / Amendment | Initial notification |
| a) | Name of entity | CT AUTOMOTIVE GROUP PLC |
| b) | Legal Entity Identifier code | 213800RP7B4UJ1DDKY67 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of 0.5 pence each |
| Identification code | GB00BMHYGR77 | |
| b) | Nature of the transaction | Award of LTIP Options |
| c) | Number of shared acquired or disposed of | Exercise Price Volume(s) £0.005 328,751 |
| Price (per share) | ||
| d) | Aggregated information Aggregated volume Price | N/A |
| e) | Date of transaction | 2 July 2026 |
| f) | Place of transaction | Outside a trading venue |
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Full name of person Dealing | Graham Mackey |
| 2 | Reason for the Notification | |
| a) | Position/status | Chief Operating Officer |
| b) | Initial notification / Amendment | Initial notification |
| a) | Name of entity | CT AUTOMOTIVE GROUP PLC |
| b) | Legal Entity Identifier code | 213800RP7B4UJ1DDKY67 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of 0.5 pence each |
| Identification code | GB00BMHYGR77 | |
| b) | Nature of the transaction | Award of Options |
| c) | Number of shared acquired or disposed of | Exercise Price Volume(s) £0.005 179,319 |
| Price (per share) | ||
| d) | Aggregated information Aggregated volume Price | N/A |
| e) | Date of transaction | 2 July 2026 |
| f) | Place of transaction | Outside a trading venue |
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