26
March 2024
THE PEBBLE GROUP
PLC
(the
"Company")
Grant of performance share
awards under Long Term Incentive Plan
and
Notification of transactions by PDMRs
The Pebble Group plc
(AIM: PEBB, OTCQX: PEBBF), a
leading provider of technology, services and products to the global
promotional products industry, announces
that on 26 March 2024 the Company made awards of
3,009,191 in the form of nil cost
options or conditional share awards (Performance Shares) under The Pebble
Group plc Long Term Incentive Plan (LTIP) to a number of senior employees
across the Group, including to the Persons Discharging Managerial
Responsibilities (PDMR), as
detailed below:
PDMR
|
Number of Performance Shares
|
Christopher Lee
|
465,672
|
Claire Thomson
|
343,284
|
Karl Whiteside
|
202,626
|
The vesting of all the Performance
Shares is conditional on meeting performance conditions measured
over a three-year period as described below.
Performance conditions
1. Adjusted Earnings Per
Share ("EPS") Target[1]
Up to 70% of the total Performance
Shares will vest dependent upon the achievement of cumulative
adjusted EPS targets for the three years ending 31 December 2026,
determined as follows:
Cumulative Adjusted EPS for the three year period to 31
December 2026
|
Portion of Ordinary Shares vesting subject to Adjusted EPS
target
|
Below 15.5p
|
No vesting
|
15.5p
|
25%
|
16.4p
|
60%
|
17.4p or more
|
100%
|
2. Total Shareholder Return
("TSR") Target
Up to 30% of the total Performance
Shares will vest dependent upon the performance of the Company's
Absolute TSR measured over the three year period ending 31 December
2026. The share price at the start of this period was
60.2pence, being the average closing price of the Company's shares
over the three trading days ending on the day before the start of
the performance period.
Annualised TSR for the three year period to 31 December
2026
|
Portion of Ordinary Shares vesting subject to TSR
Target
|
Below 8.0% per annum
|
No vesting
|
8.0% per annum
|
25%
|
11.3% per annum
|
60%
|
15% per annum
|
100%
|
A holding period of two years from
date of vesting is applicable to the LTIP awards granted to the
Executive Directors of the Company.
The making of these awards at these
levels and with these performance conditions is considered by the
Remuneration Committee to be in accordance with the Company's
Remuneration Policy with regard to the Executive
Directors.
The Remuneration Committee has
discretion to adjust the level of vesting if in its opinion such
level of vesting resulting from the application of the performance
conditions is considered not to be a fair and accurate reflection
of the performance of the Company or a fair and accurate reflection
of the award holder's performance or where there is any other
factor or any other circumstances which would make the level of
vesting inappropriate without adjustment.
The information set out below is
provided in accordance with the requirements of Regulation 19(3) of
the EU Market Abuse Regulation No 596/2014:
1
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
(a)
|
Name
|
1. Christopher Lee
2. Claire Thomson
3. Karl Whiteside
|
2
|
Reason for the
notification
|
(a)
|
Position/status
|
1. Chief Executive
Officer
2. Chief Financial
Officer
3. Group MD, Brand
Addition
|
(b)
|
Initial notification/Amendment
|
Initial notification
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
(a)
|
Name
|
The Pebble Group plc
|
(b)
|
LEI
|
213800LZUQAYBHDEQY04
|
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
|
Ordinary shares of 1 pence each
ISIN GB00BK71XP16
PEBB.L
|
(b)
|
Nature of the transaction
|
Award of nil-cost options or conditional share
awards pursuant to The Pebble Group plc Long Term Incentive
Plan
|
(c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
1
2
3
|
NIL
NIL
NIL
|
465,672
343,284
202,626
|
|
(d)
|
Aggregated information
- Aggregated
volume
-
Price
|
N/A
|
(e)
|
Date of the transaction
|
26 March 2024
|
(f)
|
Place of the transaction
|
Outside a trading venue
|
Enquiries:
The
Pebble Group
Chris Lee, Chief Executive
Officer
Claire Thomson, Chief Financial
Officer
+44 (0) 750 012 4121
|
Temple Bar Advisory (Financial PR)
Alex Child-Villiers
Sam Livingstone
+44 (0) 207 183 1190
pebble@templebaradvisory.com
|
Grant Thornton UK LLP (Nominated Adviser)
Samantha Harrison / Harrison Clarke
/ Ciara Donnelly
+44 (0) 207 184 4384
|
Berenberg (Corporate
Broker)
Ben Wright / Mark Whitmore / Richard
Andrews
+44 (0) 203 207
7800
|
About The Pebble Group
The Pebble Group is a provider of
digital commerce, products and related services to the global
promotional products industry, comprising two differentiated
businesses, Facilisgroup and Brand Addition, focused on specific
areas of the promotional products market. For further information,
please visit www.thepebblegroup.com.