Business
Grant of Options and Director/PDMR Dealing
Grant of Options and Director/PDMR Dealing.
About this update from Strip Tinning Holdings Plc
[{"type":"text","content":"\n\n13 August 2024\nStrip Tinning Holdings plc\n(\"Strip Tinning\" or the \"Company\")\nGrant of Options under 2022 Performance Share Plan\nDirector/PDMR Dealing\nStrip Tinning Holdings plc (AIM: STG), a leading supplier of specialist connection systems to the automotive sector, announces that, under the terms of the Company's 2022 Performance Share Plan (the \"PSP\")[1], the Board has granted nominal cost options (the \"Options\") over 520,000 ordinary shares of 1 pence each in the Company (\"Ordinary Shares\") to certain Directors and persons discharging managerial responsibilities (\"PDMRs\"), as set out below.\nThe Board believes it is key that the Company retains and incentivises its senior executive team to drive the business forward and align their interests with those of shareholders. This forms the basis for the grant of the Options. \nThe Options will vest subject to the Company achieving certain financial performance criteria for the financial year ending 31 December 2026. The financial performance criteria are based on the Group as a whole, with the Options awarded subject to achieving total shareholder return hurdles. The Remuneration Committee of the Board has discretion to amend these terms to take account of, for example, corporate activities such as acquisitions, to ensure that the performance targets remain appropriate.\nThe Options will vest following the assessment by the Remuneration Committee of the Board of the extent to which the applicable financial performance criteria have been met by reference to the Company's audited financial results for the financial year ending 31 December 2026. Such assessment by the Remuneration Committee of the Board, and the date on which the Options will vest is expected to be in Q1 of 2027.\nThe Options awarded to PDMRs are set out in the table below. \n\n\n\n\nDirector/ PDMR\n\n\nPosition\n\n\nOptions granted\n\n\n\n\nAdam Robson\n\n\nExecutive Chair\n\n\n200,000\n\n\n\n\nMark Perrins\n\n\nCEO\n\n\n200,000\n\n\n\n\nKevin Edwards\n\n\nCFO\n\n\n120,000\n\n\n\n\n \nEnquiries:\nStrip Tinning Holdings plc\nAdam Robson, Executive Chair &nbs...