Business
Long Term Incentive Plan Awards
Long Term Incentive Plan Awards.
About this update from Airea Plc
[{"type":"text","content":"\n\n \n28 June 2024\nAIREA plc\n \n(\"AIREA\", the \"Group\" or the \"Company\")\n \nLong Term Incentive Plan Awards\n \nAIREA plc (AIM: AIEA), the UK design-led specialist flooring company, supplying both the UK and international markets, announces that on 26 June 2024, under the terms of the Company's established Long Term Incentive Plan (\"LTIP\"), nil-cost options over ordinary shares of 25 pence each in the Company (\"Ordinary Shares\") were granted to Médéric Payne (Chief Executive Officer) and Conleth Campbell (Chief Financial Officer), each a person discharging managerial responsibilities, as follows:\n \n\n\n\n\nDirector/PDMR\n\n\nExisting Number of options granted pursuant to the LTIP\n\n\nNew options granted pursuant to the LTIP\n\n\nTotal Number of options over Ordinary Shares pursuant to the LTIP\n\n\n\n\nMédéric Payne\n\n\n500,000\n\n\n120,000\n\n\n620,000\n\n\n\n\nConleth Campbell\n\n\n0\n\n\n250,000\n\n\n250,000\n\n\n\n\n \nEach award has been granted subject to performance conditions based on the Company's earnings before interest, tax and depreciation (\"EBITDA\") and share price performance over a three-year period ending 31 December 2025. Each award will, ordinarily, vest on 31 December 2025 and is capable of exercise between 1 January 2026 and 15 December 2032.\nFurther details of the LTIP were provided in the Company's Annual Report and Accounts for the year ending 31 December 2023 published on 26 March 2024.\n- Ends -\n \nFor further information please contact:\n \n\n\n\n\nAIREA plc\nMédéric Payne, Chief Executive Officer\nConleth Campbell, Chief Financial Officer\n\n\nTel: +44 (0) 192 426 6561\n\n\n\n\nSinger Capital Markets\n(Nominated Adviser and Sole Broker)\nPeter Steel / Sam Butcher\n\n\n\nTel: +44 (0) 20 7496 3000\n\n\n\n\n\nNorthstar Communications\n(Financial media and PR)\nSarah Hollins\n\n\nTel: +44 (0) 7764 947137\n\n\n\n\n \nNotes to Editors\n \nAIREA plc is a UK design-led specialist flooring company, supplying both UK and international markets. Since 2007, the Group has been focused solely on floor coverings and enjoys a strong and growing brand position within the commercial flooring market.\n \nThe Group's core brand Burmatex® is one of the UK's leading designers and manufacturers of commercial carpet tiles and planks...