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H&T Group plc announced on 28 April 2025 the adoption of its 2025 Performance Share Plan (PSP), approved by its Remuneration Committee, for senior management and Executive Directors. Under the PSP, CEO Christopher Gillespie was awarded 118,177 nil-price shares and CFO Diane Giddy 85,773 nil-price shares. The maximum total value of shares granted to all recipients under the 2025 PSP is £1.7m, equivalent to circa 470,052 shares, with awards subject to performance targets over 1 January 2025 to 30 September 2027 and planned to vest in April 2028.
| Date | 28 Apr 2025 |
| Time | 07:00:09 |
| Category | Director/PDMR dealings |
| ID | 3940G |
28 April 2025
H&T Group plc
("H&T", the "Company" or the "Group")
(AIM: HAT)
Performance Share Plan ("PSP") 2025
H&T Group plc announces the adoption of its 2025 Performance Share Plan ("PSP") which has been approved by the Remuneration Committee. Further details on the scheme, which will apply to senior management and Executive Directors of the Company, are set out below.
In accordance with the rules of the PSP, eligible employees will be entitled to acquire a maximum number of Ordinary Shares ('Award Shares') on or after 28 April 2028 at nil price, subject to the Company achieving the minimum reported performance criteria.
Summary details set out below:
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2025 Grant |
The grants of shares are a proportion of salary as follows:
The maximum total value of the shares granted to all recipients under the 2025 PSP is expected to be in the order of £1.7m, equivalent to circa 470,052 shares.
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Performance period |
The performance period for the 2025 grant is 1st January 2025 to 30th September 2027 (33 months).
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Vesting |
The scheme is planned to vest in April 2028.
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Performance conditions |
The scheme is split equally (50/50) based on targets for total shareholder return (TSR) and growth in basic earnings per share (EPS) measured over the 33 month performance period.
The minimum, target and maximum thresholds, with reference to growth over 2024 or the average share price over the 90 day period to the end of March 31 2025.
For performance below the minimum no award will vest, at the minimum 30% (2024: 30%) of the award will vest, at the target 50% of the award will vest (2024: 50%), and at or above the maximum 100% (2024: 100%) of the award will vest. A sliding scale of vesting, on a straight-line basis applies between the minimum, target and maximum TSR and EPS targets.
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Share retention period |
Executive directors are subject to a two-year share retention period for shares awarded under the scheme.
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Further conditions |
Award Shares will be released on 28 April 2028 subject to continued employment and the satisfaction of certain specific performance conditions. The awards are further subject to claw back and malus provisions.
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Enquiries:
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H&T Group plc |
+44(0)20 8225 2700 |
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Chris Gillespie, Chief Executive Officer |
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Diane Giddy, Chief Financial Officer |
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Shore Capital Ltd (Nominated Adviser and Joint Broker) |
+44(0)20 7408 4090 |
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Stephane Auton / Sophie Collins (Corporate Advisory) |
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Guy Wiehahn (Corporate Broking) |
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Canaccord Genuity Limited (Joint Broker) |
+44(0)20 7523 8000 |
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Stuart Andrews / George Grainger |
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Alma Strategic Communications (PR) |
+44(0)20 3405 0205 |
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Sam Modlin |
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Andy Bryant |
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Rebecca Sanders-Hewett |
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Will Merison |
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Chris Gillespie |
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2
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Reason for the notification
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a)
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Position/status
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Chief Executive Officer |
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b)
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Initial notification /Amendment
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Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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H&T Group plc |
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b)
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LEI
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2138006N2X1XSBSDSU74 |
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4
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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
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a)
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Description of the financial instrument, type of instrument
Identification code
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H&T Group plc ordinary shares of 5 pence
GB00B12RQD06 |
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b)
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Nature of the transaction
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Award of Options under Performance Share Plan |
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c)
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Price(s) and volume(s)
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d)
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Aggregated information
- Aggregated volume
- Price
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N/A (single transaction) |
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e)
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Date of the transaction
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28 April 2025 |
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f)
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Place of the transaction
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London Stock Exchange, AIM Market (XLON) |
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1
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Details of the person discharging managerial responsibilities / person closely associated
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a)
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Name
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Diane Giddy |
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2
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Reason for the notification
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a)
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Position/status
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Chief Financial Officer |
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b)
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Initial notification /Amendment
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Initial notification |
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3
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Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
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Name
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H&T Group plc |
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b)
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LEI
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2138006N2X1XSBSDSU74 |
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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
|
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a)
|
Description of the financial instrument, type of instrument
Identification code
|
H&T Group plc ordinary shares of 5 pence
GB00B12RQD06 |
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b)
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Nature of the transaction
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Award of Options under Performance Share Plan |
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c)
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Price(s) and volume(s)
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d)
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Aggregated information
- Aggregated volume
- Price
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N/A (single transaction) |
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e)
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Date of the transaction
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28 April 2025 |
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f)
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Place of the transaction
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London Stock Exchange, AIM Market (XLON) |
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