Business
Issue of SIP Shares and Director/PDMR Dealing
Issue of SIP Shares and Director/PDMR Dealing.
About this update from Lords Group Trading Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6301N\n Lords Group Trading PLC\n 01 October 2021\n \n \n \n \n \n \n \n For immediate release\n \n \n \n \n 1 October 2021\n \n \n \n \n \n \n \n \n \n \n \n Lords Group Trading plc\n \n \n (\"Lords\", the \"Company\" or the \"Group\")\n \n \n \n \n \n SIP Share Issuance \n \n \n \n \n \n Director/PDMR Dealing\n \n \n \n \n \n Lords, a leading distributor of building materials in the UK, announces that under the Lords Group Share Incentive Plan (\"SIP\") it has issued 2,105 new ordinary shares of 0.5 each in the capital of the Company (\"Ordinary Shares\") to each of 485 employees of the Group (\"SIP Shares\") holding a minimum six months continuous service with the Group as at the date of the Company's admission to trading on AIM. The SIP Shares have been issued as part of the Group's incentive arrangements stated at the time of admission to trading on AIM, in line with the recognition of the Lords Board of the ongoing efforts of the Group's employees and the importance of ensuring that all employees are well motivated and identify closely with the success of the Group.\n \n \n \n \n \n Chris Day, the Company's Chief Financial Officer, has been awarded 2,105 SIP Shares, as have certain other members of Group senior management considered to be PDMRs of the Company. The notifications below, made in accordance with the UK Market Abuse Regulation, provide further details.\n \n \n \n \n \n A total of 1,020,925 SIP Shares (the \"New Ordinary Shares\") will be issued to the SIP Trust which will hold the shares on behalf of the relevant SIP participants. The participants will be the beneficial owners of any Ordinary Shares held on their behalf by the trustee of the SIP Trust and the SIP Share awards are subject to continued employment during the minimum three year hold period.\n \n \n \n \n \n Following the issue of the SIP Shares, Chris Day is interested in 2,105 Ordinary Shares, representing 0.001 per cent. of the Company's enlarged issued share capital, as enlarged by the issue of the New Ordinary Shares.\n \n \n \n \n \n Application has been made for the New Ordinary Shares, which rank pari passu with the Company's existing ordinary shares, to be admitted to trading on AIM (\"Admission\") and it is expected that Admission will oc...