| For immediate release | 14 June 2021 |
SANDERSON DESIGN GROUP PLC
("Sanderson Design Group", the "Company" or the "Group")
Grant of Awards under LTIP
Sanderson Design Group PLC (AIM: SDG), the luxury interior design and furnishings group, announces that on 14 June 2021 it granted nil-cost options (the "Awards") over ordinary shares of 1 pence each in the Company (the "Shares") to eight persons discharging managerial responsibilities ("PDMR") under the Sanderson Design Group PLC 2015 Long Term Incentive Plan (the "LTIP"), based on the closing mid-market price on 11 June 2021 of 175.00 pence per Share
Details of the Awards are set out below:
| Director/ PDMR | Number of Shares under Award on the basis of achieving the maximum performance targets |
| Lisa Montague, Chief Executive Officer | 132,454 |
| Michael Williamson, Chief Financial Officer | 48,177 |
| Mauricio Solojudin, Global Commercial Director | 26,960 |
| Nigel Hunt, Global Marketing & Digital Director | 25,250 |
| Ben Naylor, Group Operations Director | 19,479 |
| Claire Vallis, Creative Director | 22,517 |
| Carla Barnett, Group HR Director | 19,710 |
| Caroline Geary, Company Secretary | 7,668 |
No payment was required for the grant of the Awards.
The LTIP was approved by shareholders at the 2015 AGM. The Awards are subject to the satisfaction of three performance condition underpins. Two underpins measure the financial performance of the Company by way of underlying Profit Before Tax and Free Cash Flow over a three year period, ending 31 January 2024. The third underpin is a continuous improvement in sustainability, based on a reduction of carbon footprint and contribution to the UN Sustainable Development Goals.
The Awards shall vest in three tranches as set out below
| Tranche as a percentage of the Award | Normal Vesting Date of each tranche of the Award |
| 40% | 14 June 2024 |
| 40% | 14 June 2025 |
| 20% | 14 June 2026 |
Further details of the performance measures will be set out in the Company's 2022 Annual Report and Accounts.
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Lisa Montague | ||||
2. | Reason for the notification | |||||
| a) | Position/status | Chief Executive Officer | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Sanderson Design Group PLC | ||||
| b) | LEI | 213800A8K2WOUZJIQL93 | ||||
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
GB0003061511 | ||||
| b) | Nature of the transaction | Grant of nil cost option award under the Sanderson Design Group PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions. | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information
| Not applicable - single transaction | ||||
| e) | Date of the transaction | 14 June 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Michael Williamson | ||||
2. | Reason for the notification | |||||
| a) | Position/status | Chief Financial Officer | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Sanderson Design Group PLC | ||||
| b) | LEI | 213800A8K2WOUZJIQL93 | ||||
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
GB0003061511 | ||||
| b) | Nature of the transaction | Grant of nil cost option award under the Sanderson Design Group PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions. | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information
| Not applicable - single transaction | ||||
| e) | Date of the transaction | 14 June 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Mauricio Soldujin | ||||
2. | Reason for the notification | |||||
| a) | Position/status | Global Commercial Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Sanderson Design Group PLC | ||||
| b) | LEI | 213800A8K2WOUZJIQL93 | ||||
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
GB0003061511 | ||||
| b) | Nature of the transaction | Grant of nil cost option award under the Sanderson Design Group PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions. | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information
| Not applicable - single transaction | ||||
| e) | Date of the transaction | 14 June 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| |
| |||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Nigel Hunt | ||||
2. | Reason for the notification | |||||
| a) | Position/status | Global Marketing & Digital Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Sanderson Design Group PLC | ||||
| b) | LEI | 213800A8K2WOUZJIQL93 | ||||
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
GB0003061511 | ||||
| b) | Nature of the transaction | Grant of nil cost option award under the Sanderson Design Group PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions. | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information
| Not applicable - single transaction | ||||
| e) | Date of the transaction | 14 June 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| |
| |||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Ben Naylor | ||||
2. | Reason for the notification | |||||
| a) | Position/status | Group Operations Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Sanderson Design Group PLC | ||||
| b) | LEI | 213800A8K2WOUZJIQL93 | ||||
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
GB0003061511 | ||||
| b) | Nature of the transaction | Grant of nil cost option award under the Sanderson Design Group PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions. | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information
| Not applicable - single transaction | ||||
| e) | Date of the transaction | 14 June 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Claire Vallis | ||||
2. | Reason for the notification | |||||
| a) | Position/status | Creative Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Sanderson Design Group PLC | ||||
| b) | LEI | 213800A8K2WOUZJIQL93 | ||||
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
GB0003061511 | ||||
| b) | Nature of the transaction | Grant of nil cost option award under the Sanderson Design Group PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions. | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information
| Not applicable - single transaction | ||||
| e) | Date of the transaction | 14 June 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| |
| |||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Carla Barnett | ||||
2. | Reason for the notification | |||||
| a) | Position/status | Group HR Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Sanderson Design Group PLC | ||||
| b) | LEI | 213800A8K2WOUZJIQL93 | ||||
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
GB0003061511 | ||||
| b) | Nature of the transaction | Grant of nil cost option award under the Sanderson Design Group PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions. | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information
| Not applicable - single transaction | ||||
| e) | Date of the transaction | 14 June 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
|
|
|
| ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Caroline Geary | ||||
2. | Reason for the notification | |||||
| a) | Position/status | Company Secretary | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Sanderson Design Group PLC | ||||
| b) | LEI | 213800A8K2WOUZJIQL93 | ||||
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
GB0003061511 | ||||
| b) | Nature of the transaction | Grant of nil cost option award under the Sanderson Design Group PLC 2015 LTIP. The award will vest three years after the date of grant subject to the satisfaction of performance conditions. | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information
| Not applicable - single transaction | ||||
| e) | Date of the transaction | 14 June 2021 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
For further information:
|
Sanderson Design Group PLC |
c/o Buchanan +44 (0) 20 7466 5000 |
| Lisa Montague, Chief Executive Officer |
|
| Michael Williamson, Chief Financial Officer |
|
| Caroline Geary, Company Secretary |
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| Investec Bank plc (Nominated Adviser and Broker) | +44 (0) 20 7597 5970 |
| David Anderson / Alex Wright / Ben Farrow |
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|
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| Buchanan | +44 (0) 20 7466 5000 |
| Mark Court / Sophie Wills / Toto Berger / Charlotte Slater |
|
Notes for editors:
About Sanderson Design Group
Sanderson Design Group PLC is a luxury interior furnishings company that designs, manufactures and markets wallpapers, fabrics and paints. In addition, the Company derives licensing income from the use of its designs on a wide range of products such as bed and bath collections, rugs, blinds and tableware.
Sanderson Design Group's brands include Zoffany, Sanderson, Morris & Co., Harlequin, Scion, Anthology and Clarke & Clarke.
The Company has a strong UK manufacturing base comprising Anstey wallpaper factory in Loughborough and Standfast & Barracks a fabric printing factory, in Lancaster. Both sites manufacture for the Company and for other wallpaper and fabric brands.
Sanderson Design Group employs approximately 600 people and its products are sold worldwide. It has showrooms in London, New York, Chicago, Paris, Amsterdam and Dubai.
Sanderson Design Group trades on the AIM market of the London Stock Exchange under the ticker symbol SDG.
For further information please visit: www.sandersondesigngroup.com
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