Likewise Group PLC - Grant of LTIP, SAYE Exercise, PDMR Dealings & TVR
Likewise Group plc
("Likewise", or the "Company")
Implementation of LTIP, PDMR Dealing, Exercise of Options and Total Voting Rights
Likewise Group plc (AIM:LIKE), the fast growing and progressive Flooring Distributor in the
Implementation of LTIP
Likewise announces that the remuneration committee has approved the implementation of a new LTIP alongside its existing schemes which include Company Share Option Plan ("CSOP"), SAYE and Employee Management Incentive ("EMI") schemes. The LTIP has been established to incentivise management to deliver long-term value creation for shareholders and ensure alignment with shareholder interests.
Awards in the form of nil cost options have been granted over a total of 1,888,497 ordinary shares of
The LTIP awards will vest on
|
Annual growth in Adjusted PBT from the Financial Year ending |
% of Option that Vests |
|
Less than 95% of the target CAGR* |
0% |
|
100% of the target CAGR* and above |
100% |
|
Between 95% CAGR* and 100% CAGR |
Pro rata between 0% and 100% |
*with reference to CAGR above this is equal to the CAGR% required to generate Adj. PBT for FY28 of
If the maximum targets are met in FY28, the total dilutive impact of the LTIP awards will be c.0.75%. The maximum aggregate dilutive effect includes exercised and unexercised options which still exist under the CSOP, SAYE and EMI over 9.65% of the issued share capital of the Company. In the event that the LTIP is utilised in full, then this potential dilutive impact will increase to a maximum of 10.4% of the Company's current issued share capital. However, it is intended that any exercise of the LTIP will be satisfied by the transfer of shares currently held in treasury or by the Company's Employee Benefit Trust, such that there is expected to be no dilutive impact on shareholders.
PDMR Dealing
Details of the LTIP awards to the Company's PDMRs are shown below:
|
Director / PDMR |
Role |
Number of Ordinary Shares over which options granted |
|
|
CEO |
333,333 |
|
|
Mainstream Residential Director |
244,444 |
|
|
Head of Financial Accounting & Reporting |
166,667 |
*Vested options will be subject to an additional two-year holding period.
Exercise of Options and Total Voting Rights
Additionally, under its 2023 SAYE, 84,705 share options were exercised, at a price of
Following the transfer, the issued share capital of the Company remains unchanged at 252,983,480 and the Company now holds 1,860,982 shares in treasury. The total voting rights in the Company is now 251,122,498 which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Likewise under the FCA's Disclosure Guidance and Transparency Rules.
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For further information, please contact: |
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|
Likewise Group plc |
Tel: +44 (0) 121 817 2900 |
|
Zeus (Nominated Adviser and Joint Broker) |
Tel: +44 (0) 20 3829 5000 |
ENDS
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1 |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name: |
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2 |
Reason for the notification |
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a) |
Position/Status:
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Chief Executive Officer |
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b) |
Initial Notification/Amendment:
|
Initial Notification |
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3 |
Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor |
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a) |
Name: |
Likewise Group plc |
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b) |
LEI: |
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4. |
Details of transaction(s); section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted. |
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|
a) |
Description of the financial instrument: Identification code: |
Ordinary shares of ISIN: GB00BHNWH003 |
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b) |
Nature of the transaction:
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Grant of options |
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|
c) |
Price(s) and volume(s): |
Price(s) |
Volume(s) |
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|
nil |
333,333 |
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d) |
Aggregated volume: Price: |
As above |
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e) |
Date of the Transaction: |
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f) |
Place of the Transaction: |
London Stock Exchange |
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1 |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name: |
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2 |
Reason for the notification |
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a) |
Position/Status:
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Mainstream Residential Director |
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b) |
Initial Notification/Amendment:
|
Initial Notification |
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|
3 |
Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor |
||||
|
a) |
Name: |
Likewise Group plc |
|||
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b) |
LEI: |
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4. |
Details of transaction(s); section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted. |
||||
|
a) |
Description of the financial instrument: Identification code: |
Ordinary shares of ISIN: GB00BHNWH003 |
|||
|
b) |
Nature of the transaction:
|
Grant of options |
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|
c) |
Price(s) and volume(s): |
Price(s) |
Volume(s) |
||
|
Nil |
244,444 |
||||
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d) |
Aggregated volume: Price: |
As above |
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e) |
Date of the Transaction: |
|
|||
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f) |
Place of the Transaction: |
London Stock Exchange |
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1 |
Details of the person discharging managerial responsibilities/person closely associated |
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|
a) |
Name: |
|
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2 |
Reason for the notification |
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|
a) |
Position/Status:
|
Head of Financial Accounting & Reporting |
|||
|
b) |
Initial Notification/Amendment:
|
Initial Notification |
|||
|
3 |
Details of the issuer, emission allowance market participation, auction platform, auctioneer or auction monitor |
||||
|
a) |
Name: |
Likewise Group plc |
|||
|
b) |
LEI: |
|
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4. |
Details of transaction(s); section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted. |
||||
|
a) |
Description of the financial instrument: Identification code: |
Ordinary shares of ISIN: GB00BHNWH003 |
|||
|
b) |
Nature of the transaction:
|
Grant of options |
|||
|
c) |
Price(s) and volume(s): |
Price(s) |
Volume(s) |
||
|
nil |
166,667 |
||||
|
d) |
Aggregated volume: Price: |
As above |
|||
|
e) |
Date of the Transaction: |
|
|||
|
f) |
Place of the Transaction: |
London Stock Exchange |
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