NWF Group plc
For Release 3rd August 2021
NWF Group plc ('NWF', 'the Group' or 'the Company')
Award of Options under Company Performance Share Plan
NWF Group plc, the specialist distributor of fuel, food and feed across the UK, announces the following awards have been approved under the terms of the established NWF Company Performance Share Plan (the "Plan").
Richard Whiting, Chief Executive of NWF, will receive an award of a conditional right over a maximum of 142,512 ordinary shares of 25 pence each of the Company ("Shares") at a price of 217 pence per Share, being the mid-market price at the close of business on 2 August 2021. This award is subject to the following performance targets:
1. if the reported headline basic earnings per share for the three financial years ending 31 May 2024 increases by RPI plus 2% per annum then 42,754 Shares will be issued under the Plan; and
2. the maximum of 142,512 Shares will be issued if the reported headline basic earnings per share increases by RPI plus 8% per annum for the three financial years ending 31 May 2024
Following the award, Richard Whiting will be interested in 616,340 conditional awards over Shares.
Chris Belsham, Group Finance Director of NWF, will receive an award of a conditional right over a maximum of 85,714 ordinary shares of 25 pence each of the Company ("Shares") at a price of 217 pence per Share, being the mid-market price at the close of business on 2 August 2021. This award is subject to the following performance targets:
1. if the reported headline basic earnings per share for the three financial years ending 31 May 2024 increases by RPI plus 2% per annum then 25,714 Shares will be issued under the Plan; and
2. the maximum of 85,714 Shares will be issued if the reported headline basic earnings per share increases by RPI plus 8% per annum for the three financial years ending 31 May 2024.
Following the award, Chris Belsham will be interested in 370,434 conditional awards over Shares.
Rob Andrew, Group Company Secretary of NWF, will receive an award of a conditional right over a maximum of 64,286 Shares at a price of 217 pence per Share, being the mid-market price at the close of business on 2 August 2021. This award is subject to the following performance targets:
1. if the reported headline basic earnings per share for the three financial years ending 31 May 2024 increases by RPI plus 2% per annum then 19,286 Shares will be issued under the Plan; and
2. the maximum of 64,286 Shares will be issued if the reported headline basic earnings per share increases by RPI plus 8% per annum for the three financial years ending 31 May 2024.
Following the award, Rob Andrew will be interested in 277,919 conditional awards over Shares.
Andrew Downie, Managing Director of NWF Agriculture, will receive an award of a conditional right over a maximum of 61,175 ordinary shares of 25 pence each of the Company ("Shares") at a price of 217 pence per Share, being the mid-market price at the close of business on 2 August 2021. This award is subject to the following performance targets:
1. if the reported headline basic earnings per share for the three financial years ending 31 May 2024 increases by RPI plus 2% per annum then 18,353 Shares will be issued under the Plan; and
2. the maximum of 61,175 Shares will be issued if the reported headline basic earnings per share increases by RPI plus 8% per annum for the three financial years ending 31 May 2024.
Following the award, Andrew Downie will be interested in 268,831 conditional awards over Shares.
Richard Huxley, Managing Director of NWF Fuels, will receive an award of a conditional right over a maximum of 66,359 ordinary shares of 25 pence each of the Company ("Shares") at a price of 217 pence per Share, being the mid-market price at the close of business on 2 August 2021. This award is subject to the following performance targets:
1. if the reported headline basic earnings per share for the three financial years ending 31 May 2024 increases by RPI plus 2% per annum then 19,908 Shares will be issued under the Plan; and
2. the maximum of 66,359 Shares will be issued if the reported headline basic earnings per share increases by RPI plus 8% per annum for the three financial years ending 31 May 2024.
Following the award, Richard Huxley will be interested in 286,943 conditional awards over Shares.
The Plan was established for the purpose of incentivising and retaining the Company's eligible executive management. Shares awarded under the Plan are subject to a performance criteria that requires NWF to meet a minimum reported basic earnings per share target over a three year period. The Remuneration Committee has responsibility for determining the award of Shares and the performance targets under the Plan.
| Rob Andrew | Reg Hoare/James Bavister | Mike Bell/Ed Allsopp |
| Group Company Secretary | MHP Communications | Peel Hunt LLP |
| NWF Group plc | Tel: 020 3128 8100 | (Nominated Adviser) |
| Tel: 01829 260 260 |
| Tel: 020 7418 8900
|
The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail
| 1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a. | Name | Richard Whiting | |||
| 2. | Reason for the notification | ||||
| a. | Position/status | Chief Executive | |||
| b. | Initial notification /Amendment | Initial | |||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a. | Name | NW F Group plc | |||
| b. | LEI | 213800ARRZNN1W VZ9M70 | |||
| 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 25p in the Company
GB0006523608 | |||
| b. | Nature of the transaction |
Award of options under the Company's Share Option Plan | |||
| c. | Price(s) and volume(s) |
| |||
|
| Price(s) | Volume(s) |
| ||
| 0p | 142,512 | ||||
| d. | Aggregated information • Aggregated volume • Price |
| |||
| e. | Date of the transaction | 3 August 2021 | |||
| f. | Place of the transaction |
Outside a trading venue | |||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a. | Name | Christopher Belsham | |||
| 2. | Reason for the notification | ||||
| a. | Position/status | Group Finance Director | |||
| b. | Initial notification /Amendment | Initial | |||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a. | Name | NW F Group plc | |||
| b. | LEI | 213800ARRZNN1W VZ9M70 | |||
| 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 25p in the Company
GB0006523608 | |||
| b. | Nature of the transaction |
Award of options under the Company's Share Option Plan | |||
| c. | Price(s) and volume(s) |
| |||
|
| Price(s) | Volume(s) |
| ||
| 0p | 85,714 | ||||
| d. | Aggregated information • Aggregated volume • Price |
| |||
| e. | Date of the transaction | 3 August 2021 | |||
| f. | Place of the transaction |
Outside a trading venue | |||
The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:
| 1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a. | Name | Rob Andrew | |||
| 2. | Reason for the notification | ||||
| a. | Position/status | Company Secretary | |||
| b. | Initial notification /Amendment | Initial | |||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a. | Name | NW F Group plc | |||
| b. | LEI | 213800ARRZNN1W VZ9M70 | |||
| 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 25p in the Company
GB0006523608 | |||
| b. | Nature of the transaction |
Award of options under the Company's Share Option Plan | |||
| c. | Price(s) and volume(s) |
| |||
|
| Price(s) | Volume(s) |
| ||
| 0p | 64,286 | ||||
| d. | Aggregated information • Aggregated volume • Price |
| |||
| e. | Date of the transaction | 3 August 2021 | |||
| f. | Place of the transaction |
Outside a trading venue | |||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a. | Name | Andrew Downie | |||
| 2. | Reason for the notification | ||||
| a. | Position/status | Managing Director Feeds | |||
| b. | Initial notification /Amendment | Initial | |||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a. | Name | NW F Group plc | |||
| b. | LEI | 213800ARRZNN1W VZ9M70 | |||
| 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 25p in the Company
GB0006523608 | |||
| b. | Nature of the transaction |
Award of options under the Company's Share Option Plan | |||
| c. | Price(s) and volume(s) |
| |||
|
| Price(s) | Volume(s) |
| ||
| 0p | 61,175 | ||||
| d. | Aggregated information • Aggregated volume • Price |
| |||
| e. | Date of the transaction | 3 August 2021 | |||
| f. | Place of the transaction |
Outside a trading venue | |||
The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:
| 1. | Details of the person discharging managerial responsibilities / person closely associated | ||||
| a. | Name | Richard Huxley | |||
| 2. | Reason for the notification | ||||
| a. | Position/status | Managing Director Fuels | |||
| b. | Initial notification /Amendment | Initial | |||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
| a. | Name | NW F Group plc | |||
| b. | LEI | 213800ARRZNN1W VZ9M70 | |||
| 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 25p in the Company
GB0006523608 | |||
| b. | Nature of the transaction |
Award of options under the Company's Share Option Plan | |||
| c. | Price(s) and volume(s) |
| |||
|
| Price(s) | Volume(s) |
| ||
| 0p | 66,359 | ||||
| d. | Aggregated information • Aggregated volume • Price |
| |||
| e. | Date of the transaction | 3 August 2021 | |||
| f. | Place of the transaction |
Outside a trading venue | |||
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