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On 26 July 2023, LPA Group PLC awarded a total of 255,000 share options under its Performance Share Plan 2023 to CEO Paul Curtis (130,000 options) and CFO Stuart Stanyard (125,000 options), both with an exercise price of 50p. These options are exercisable from 26 July 2026, bringing the total options over ordinary shares for directors and employees to 590,000.
| Date | 26 Jul 2023 |
| Time | 10:34:58 |
| Category | Director/PDMR dealings |
| ID | 2724H |
26 July 2023
LPA GROUP PLC
("LPA", the "Company" or the "Group")
Performance Share Plan
LPA Group Plc, the high reliability LED lighting, electronic and electro-mechanical system designer, and manufacturer, announces the award of share options over ordinary shares in the Company (the "Share Options") under the LPA Group plc Performance Share Plan 2023 ("PSP 2023") to the following directors ("the Award Holders"), as follows:
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Director |
Position |
Number of Options |
Exercise Price |
Total Number of Options held following this award |
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Paul Curtis |
CEO |
130,000 |
50p |
300,000 |
|
Stuart Stanyard |
CFO |
125,000 |
50p |
125,000 |
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Total Awards |
|
255,000 |
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425,000 |
Under the terms of the PSP 2023, the Share Options are exercisable from 26 July 2026 subject to three increasingly targeted performance hurdles which are related to earnings per share and market capitalisation. Following vesting there is a one year holding period (excluding any ordinary shares sold to pay tax due at exercise). The Share Options are subject to clawback and malus provisions.
It is the expectation of the Company that the LPA Employee Benefits Trust (the "EBT") will satisfy the awards when exercised. In the event that the EBT does not satisfy the awards when exercised, the Company will do so through an issue of new ordinary shares to the Award Holders.
As a result of the grant of the Share Options, there are now a total of 590,000 options over ordinary shares in place for directors and employees of LPA.
Enquiries:
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LPA Group plc |
+44 (0) 1799 512 800 |
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Robert B Horvath, Chairman |
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Paul Curtis, Chief Executive Officer |
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Stuart Stanyard, Chief Financial Officer |
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finnCap (NOMAD and Broker) |
+44 (0) 20 7220 0500 |
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Ed Frisby / Abigail Kelly (Corporate Finance) |
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Tim Redfern / Charlotte Sutcliffe (ECM) |
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Hudson Sandler (Financial PR) |
+44 (0) 20 7796 4133 |
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Dan de Belder |
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Nick Moore |
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Harry Griffiths |
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About LPA
LPA Group plc (AIM: LPA) is a market leading designer, manufacturer and supplier of high reliability LED lighting, electronic and electro-mechanical systems, and a distributor of engineered components.
Focused on transport (rail and aviation), defence, infrastructure and industrial markets and supplying into hostile and challenging environments, LPA is known for engineering solutions to improve product reliability, reducing maintenance and life cycle costs.
The Group has three sites across the UK, selling to customers in the UK and overseas. Two of these are design and manufacturing sites: LPA Connection Systems - electro-mechanical systems for rail, aviation and industrial, and LPA Lighting Systems - LED lighting and electronic systems for rail and infrastructure. The third site is LPA Channel Electric - a value added distributer of engineered components for rail, aerospace and defence.
With over 160 years of UK design and manufacture, and with origins in the first ever light installed in 'Electric Avenue', Brixton; innovation is core to LPA and to the products and services supplied to our customers worldwide.
For more information visit www.lpa-group.com
The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:
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1 |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name |
Paul Curtis |
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2 |
Reason for the notification |
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a) |
Position/status |
CEO |
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b) |
Initial notification /Amendment |
Initial Notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
LPA Group plc |
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b) |
LEI |
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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 |
Ordinary shares of 10p each
GB0007320806 |
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b) |
Nature of the transaction |
Issue of Options
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c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
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50p |
130,000 |
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d) |
Aggregated information - Aggregated volume - Price |
N/A
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e) |
Date of the transaction |
26 July 2023 |
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f) |
Place of the transaction |
Outside a trading venue |
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g) |
Additional Information |
N/A |
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1 |
Details of the person discharging managerial responsibilities/person closely associated |
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a) |
Name |
Stuart Stanyard |
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2 |
Reason for the notification |
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a) |
Position/status |
CFO |
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b) |
Initial notification /Amendment |
Initial Notification |
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
LPA Group plc |
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b) |
LEI |
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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 |
Ordinary shares of 10p each
GB0007320806 |
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b) |
Nature of the transaction |
Issue of Options
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c) |
Price(s) and volume(s) |
Price(s) |
Volume(s) |
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50p |
125,000 |
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d) |
Aggregated information - Aggregated volume - Price |
N/A
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e) |
Date of the transaction |
26 July 2023 |
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f) |
Place of the transaction |
Outside a trading venue |
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g) |
Additional Information |
N/A |
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