Grant of Share Award
Nichols plc announced on December 11, 2025, that its Chief Executive Officer, Andrew Milne, was granted nil-cost options over 51,556 ordinary shares under the Long Term Incentive Plan, vesting in two equal tranches on the third and fourth anniversaries of the grant date, subject to continued employment. This one-off award is part of transitional arrangements ahead of a revised remuneration policy expected for the financial year commencing January 1, 2026, which will adopt a more market-standard structure with an annual bonus and long-term incentive plan aligned with strategic objectives and shareholder expectations, following a review and consultation with major institutional shareholders.
Select text to share a quote on X · sign in to keep highlights & notes in your NICL notes
Nichols plc (the "Company") announces that on 11 December 2025, it granted nil-cost options (the "Award") over 51,556 ordinary shares of 10p each in the Company (the "Ordinary Shares") to Andrew Milne, Chief Executive Officer, pursuant to the terms of the Nichols plc Long Term Incentive Plan.
As disclosed in the Company's Annual Report for the year ended 31 December 2024, the Remuneration Committee has been reviewing the appropriateness and alignment of the current remuneration policy in light of the evolving business strategy and, in particular, the medium-term ambitions set out at the Capital Markets Day held in November 2024. As part of this review, the Remuneration Committee has consulted with certain major institutional shareholders ahead of implementing any significant changes.
In response to this review and the feedback from certain major institutional shareholders, a revised remuneration policy is expected to be introduced for the financial year commencing 1 January 2026. The new policy is expected to adopt a more market-standard structure, incorporating an annual bonus and long-term incentive plan aligned with the Company's strategic objectives and shareholder expectations.
As part of the transitional arrangements ahead of the implementation of the revised policy, a one-off Award has been granted to Andrew Milne, Chief Executive Officer. The Award will vest in two equal tranches: 50% on the third anniversary of the grant date and 50% on the fourth anniversary, subject to continued employment with the Group. No additional performance conditions apply.
Full details of the Award will be disclosed in the Company's Annual Report for the year ended 31 December 2025.
Enquiries Nichols plc 0192 522 2222 Helen Keays, Non-Executive Director Singer Capital Markets (Nominated Adviser and Broker) Jen Boorer Tom Salvesen Oliver Platts 0207 496 3000 Website: www.singercm.com Berenberg (Joint Broker) 0203 207 7800 Clayton Bush Alix Mecklenburg-Solodkoff Website: www.berenberg.de Hudson Sandler (Financial PR) 0207 796 4133
Alex Brennan Email: nichols@hudsonsandler.com
Hattie Dreyfus
Harry Griffiths
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Andrew Milne |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification /Amendment | Initial notification |
| a) | Name | Nichols plc |
| b) | LEI | 213800EF5CMR3K8PND54 |
| a) | Description of the financial instrument, type of instrument Identification code | Ordinary shares of 10p each ISIN Code: GB0006389398 |
| b) | Nature of the transaction | Grant of a nil-cost options under the Nichols Long Term Incentive Plan |
| c) | Price(s) and volume(s) | Price(s) Volume(s) nil 51,556 |
| d) | Aggregated information - Aggregated volume - Price | N/A - Single transaction |
| e) | Date of the transaction | 11 December 2025 |
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.