Business
Grant of Options under LTIP
Grant of Options under LTIP.
About this update from Churchill China Plc
[{"type":"text","content":"\n\n20 June 2025\n\nChurchill China plc\n(\"Churchill China\" or the \"Company\")\nGrant of Options under LTIP\n \nChurchill China plc (AIM: CHH), the manufacturer of innovative performance ceramic products serving hospitality markets worldwide, announces that on 20 June 2025, the following options over 10p Ordinary shares in the Company (\"Ordinary Shares\") were granted to persons discharging managerial responsibilities (\"PDMR's\") under the Churchill China Long Term Incentive Plan (\"CCLTIP\") (the \"Grants\"):\n\n\n\n\nDirector\n\n\nPosition\n\n\nNumber of Options Over Ordinary Shares granted\n\n\nExercise Price\n\n\nMarket Price at Date of Grant\n\n\n\n\nDavid O'Connor\n\n\nChief Executive Officer\n\n\n55,666\n\n\n10p\n\n\n640p\n\n\n\n\nJames Roper\n\n\nSales and Marketing Director\n\n\n43,177\n\n\n10p\n\n\n640p\n\n\n\n\nMichael Cunningham\n\n\nChief Financial Officer\n\n\n35,802\n\n\n10p\n\n\n640p\n\n\n\n\n \nIn addition, 72,068 Grants were made to employees who are non-PDMRs.\nThe Grants are subject to the achievement of performance criteria as specified by the Remuneration Committee and are subject to claw back provisions in certain circumstances. The performance conditions require that the Company's adjusted (pre-exceptional items and adjusted for pension interest charges and credits) earnings per share (\"Adjusted EPS\") for the financial year ending 31 December 2027 reaches the following figures for each level of vesting:\n\n\n\n\nAdjusted EPS for year ending 31 December 2027\n\n\n% of Grant that Vests\n\n\n\n\n66.0\n\n\n25%\n\n\n\n\n73.36\n\n\n40%\n\n\n\n\n77.0\n\n\n100%\n\n\n\n\n \nBelow the lowest level no share options will vest and between these target levels, share options will vest on a straight-line basis, shares will vest subject to the achievement of these performance conditions, from 19 June 2028.\n \nFor further information, please contact:\n\n\n\n\nChurchill China plc\n\n\nTel: 01782 577566\n\n\n\n\nDavid O'Connor / James Roper / Michael Cunningham\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBurson Buchanan\n\n\nTel: 020 7466 5000\n\n\n\n\nMark Court / Sophie Wills / Abby Gilchrist\n\n\n\n\n\n\n\n\[email protected]\n \n\n\n\n\n\n\n\n\nInvestec Bank plc (Nominated Adviser and Joint Broker)\n\n\n\n\n\n\n\n\nDavid Flin / Oliver Cardigan\n\n\nTel: 020 7597 5970\n\n\n\n\n\...