Director/PDMR Shareholding
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Keller Group plc (the "Company") announces that following the appointment of Paul Leonard as Divisional President - North America, he was granted a Performance Share Award under the Company’s Long Term Incentive Plan. Mr Leonard is a Person Discharging Managerial Responsibilities (“PDMR”) and the grant was approved by the Remuneration Committee.
Details of the grant are set out below and in the Notification of Dealing form at the end of the announcement:
| Grant date | No. of Ordinary shares of 10 pence each (“Shares”) awarded 1/2/3 | Total Performance Share Awards outstanding 3 |
|---|---|---|
| 3 June 2024 | 32,942 | 32,942 |
The price used to calculate the maximum number of Shares under the Performance Share Award was 1,319.00p, being the average closing price on 29, 30, and 31 May 2024 of the Company's Shares on the main market of the London Stock Exchange.
2 The amount shown above represent the maximum possible number of Shares that may be granted to the PDMR under the 2024 Performance Share Awards.
3 The award excludes notional dividends.
The measures selected by the Remuneration Committee together with the associated targets are shown on the table below. The weightings are all set at 25% in order to provide balance between measures and materiality to each of them individually.
| Measures | Vesting schedule | ||
|---|---|---|---|
| % of award that will vest | |||
| 0% | 25% | 100% | |
| 25% weight Cumulative EPS over three years 1 | Below 330p | 330p | 400p |
| 25% weight Keller’s relative TSR performance vs FTSE 250 2 Index over three years | Below median | Median | Upper quartile |
| 25% weight Average ROCE over three years | Below 12% | 12% | 18% |
| 25% weight Operating profit margin (“OPM”) in year three | Below 5.5% | 5.5% | 6.5% |
1 EPS and ROCE are before non-underlying items on an IFRS 16 basis.
2 Excluding investment trusts and financial services.
The Performance Share Award performance conditions are measured over a three-year period ending on 31 December 2026, except for the OPM which is measured in year three. The Performance Share Award performance conditions are expected to vest in June 2027. Malus and clawback apply.
| a) | Name | Paul Leonard | |||
| 2 | Reason for the notification | ||||
| a) | Position / status | PDMR (Provide job title) | PCA (Provide name of job title of relevant PDMR) | ||
| Divisional President - North America | N/A | ||||
| b) | Initial notification/Amendment | Initial notification | |||
| 3 | Details of the issuer | ||||
| a) | Name | Keller Group plc | |||
| b) | LEI and classification | 549300QO4MBL43UHSN10 2.2 Inside information | |||
| a) | Description of the financial instrument Identification code | Ordinary shares of 10p each GB0004866223 | |||
| b) | Indicate nature of the transaction | Acquisition | Disposal | Subscription | Other |
| ii) Is the transaction linked to an exercise of a share award? | Yes | No | |||
| X | |||||
| iii) Was the transaction conducted pursuant to an investment programme or a trading plan? | Yes | No | If yes, provide date at which investment programme or trading plan was entered into: | ||
| X | |||||
| c) | Price(s) and volume(s) | Price(s) (Please state currency) | Volume(s) | ||
| Nil | 32,942 | ||||
| d) | Aggregated information | Aggregated price(s) (Please state currency) | Aggregated volume(s) | ||
| Not applicable - single transaction | Not applicable - single transaction | ||||
| e) | Date of the transaction | Date: 03.06.2024 Time zone: GMT | |||
| f) | Place of the transaction | Outside trading venue | |||
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