RNS Number : 4027P
Inland Homes PLC
17 November 2016
 

 

Inland Homes plc

('Inland Homes', 'Inland', the 'Group' or the 'Company')

 

Achievement of performance targets under 2013 LTIP

 

The Company announces that the Performance Targets as set out in the Inland Homes plc 2013 Growth Plan ("2013 LTIP") have been achieved for the third reporting period commencing on 18 November 2015.

 

The Company now expects 6,000,000 ordinary shares of 10p each in Inland Homes PLC to become issuable to Stephen Wicks, Nishith Malde and Paul Brett, in exchange for non-voting exchangeable growth shares of 0.001 pence each in Inland Homes 2013 Limited ("Growth Shares") once vested. These Growth Shares are expected to vest, subject to good/bad leaver and change of control provisions, on 11 December 2016, in accordance with the Articles of Association of Inland Homes (2013) Limited.

 

The breakdown of the ordinary shares of 10p each in Inland Homes PLC now expected to vest on 11 December 2016 is as follows:

 

Executive Director

 Awarded in tranche 1 and 2 of 2013 LTIP

New awards

Total Number of Shares





Stephen Wicks

Chief Executive Officer

1,880,000

940,000

2,820,000

Nishith Malde

Finance Director

1,520,000

760,000

2,280,000

Paul Brett

Land Director

600,000

300,000

900,000

Total

4,000,000

2,000,000

6,000,000

 

Entitlements to any further ordinary shares under the 2013 LTIP will vest annually by reference to the share price performance in each of the three remaining Performance Periods commencing from 12 December 2016 to 20 Dealing Days after the announcement of the Company's preliminary results for the year ending 30 June 2019 (inclusive) or earlier in the event of a takeover of the Company.

 

The 2013 LTIP was approved by shareholders on 20 December 2013. Further details of the 2013 LTIP are included in the circular to shareholders dated 3 December 2013.

 

Enquires:

 

Inland Homes plc

Tel: 44 (0) 1494 762450

Stephen Wicks, Chief Executive


Nishith Malde, Finance Director


Paul Brett, Land Director




Stifel Nicolaus Europe Limited (Nominated Adviser):

Tel: 44 (0) 20 7710 7600

David Arch


Jessica Cave








FTI Consulting:

Tel: 44 (0)20 3727 1000

Dido Laurimore


Claire Turvey


Polly Warrack




 

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail:

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

(Disclosure in relation to award of share options)

 1 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Stephen Wicks

2

Reason for the notification 

a)

Position/status 

Chief Executive Officer

b)

Initial notification /Amendment 

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name 

Inland Homes plc

b)

LEI  


4

Details of the 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, type of instrument 

Identification code 

Non-voting exchangeable growth shares of 0.001 pence each in Inland Homes (2013) Limited that can be exchanged for 940,000 ordinary shares of 10p each in Inland Homes PLC once vested.

 ISIN: GB00B1TR0310

b)

Nature of the transaction 

Award of options

c)

Price(s) and volume(s)

 

 Price(s) 

Volume(s)

nil

940,000

d)

 

Aggregated information 

 

Non-voting exchangeable growth shares of 0.001 pence each in Inland Homes (2013) Limited that can be exchanged for 940,000 ordinary shares of 10p each in Inland Homes PLC once vested.

e)

Date of the transaction 

4 November 2016

f)

Place of the transaction 

London Stock Exchange, AIM Market

 

 

1 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Nishith Malde

2

Reason for the notification 

a)

Position/status 

Finance Director

b)

Initial notification /Amendment 

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name 

Inland Homes plc

b)

LEI  


4

Details of the 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, type of instrument

Identification code 

Non-voting exchangeable growth shares of 0.001 pence each in Inland Homes (2013) Limited that can be exchanged for 760,000 ordinary shares of 10p each in Inland Homes PLC once vested.

 ISIN: GB00B1TR0310

b)

Nature of the transaction 

Award of options

c)

Price(s) and volume(s)

 

 Price(s) 

Volume(s)

nil

760,000

d)

 

Aggregated information 

 

Non-voting exchangeable growth shares of 0.001 pence each in Inland Homes (2013) Limited that can be exchanged for 760,000 ordinary shares of 10p each in Inland Homes PLC once vested.

e)

Date of the transaction 

4 November 2016

f)

Place of the transaction 

London Stock Exchange, AIM Market

 

 

1 

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Paul Brett

2

Reason for the notification 

a)

Position/status 

Land Director

b)

Initial notification /Amendment 

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name 

Inland Homes plc

b)

LEI  


4

Details of the 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, type of instrument 

Identification code 

Non-voting exchangeable growth shares of 0.001 pence each in Inland Homes (2013) Limited that can be exchanged for 300,000 ordinary shares of 10p each in Inland Homes PLC once vested.

 ISIN: GB00B1TR0310

b)

Nature of the transaction 

Award of options

c)

Price(s) and volume(s)

 

 Price(s) 

Volume(s)

nil

300,000

d)

 

Aggregated information 

 

Non-voting exchangeable growth shares of 0.001 pence each in Inland Homes (2013) Limited that can be exchanged for 300,000 ordinary shares of 10p each in Inland Homes PLC once vested.

e)

Date of the transaction 

4 November 2016

f)

Place of the transaction 

London Stock Exchange, AIM Market

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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