| For immediate release | 20 September 2023 |
Lords Group Trading plc
('Lords', the 'Group' or the 'Company')
Award of Options under LTIP and PDMR Dealing
Lords, a leading distributor of building materials in the UK, announces that the Group's Remuneration Committee has approved the award of nil cost options over an aggregate of 276,073 new ordinary shares of 0.5 pence each in the Company ('Ordinary Shares') under the terms of the Company's Long Term Incentive Plan ('LTIP Award') to Chris Day, the Company's Chief Financial Officer and Chief Operating Officer. The LTIP Award will replace the expired award granted to Chris Day under the Long Term Incentive Plan that was in place at the time of the Group's IPO.
Award Performance Conditions
In line with the recognition of the importance of aligning Lord's management team with the success of the Group in the medium and long-term, the LTIP Award is subject to the following performance conditions, subject to Remuneration Committee discretion:
The performance targets attached to the LTIP Award are based on adjusted earnings per share and total shareholder return over a three-year performance period from 1 January 2023 to 31 December 2025.
The Remuneration Committee has discretion to amend these terms to ensure that any performance targets remain appropriate.
Change of Name of Nominated Adviser and Broker
The Company also announces that its Nominated Adviser and Broker has changed its name to Cavendish Securities plc following completion of its own corporate merger.
- Ends -
FOR FURTHER ENQUIRIES:
| Lords Group Trading plc | Via Buchanan |
| Shanker Patel, Chief Executive Officer | Tel: +44 (0) 20 7466 5000 |
| Chris Day, Chief Financial Officer and Chief Operating Officer | |
| | |
| Cavendish Securities plc (Nominated Adviser and Joint Broker) | Tel: +44 (0)20 7397 8900 |
| Ben Jeynes / Dan Hodkinson (Corporate Finance) | |
| Julian Morse / Henry Nicol (Sales) | |
| Berenberg (Joint Broker) Matthew Armitt / Richard Bootle / Detlir Elezi
| Tel: +44 (0)20 3207 7800 |
| Buchanan Communications | Tel: +44 (0) 20 7466 5000 |
| Henry Harrison-Topham / Stephanie Whitmore / Abby Gilchrist |
Notes to editors:
Lords is a specialist distributor of building, plumbing, heating and DIY goods. The Group principally sells to local tradesmen, small to medium sized plumbing and heating merchants, construction companies and retails directly to the general public. The Group operates through the following two divisions:
· Merchanting: supplies building materials and DIY goods through its network of merchant businesses and online platform capabilities. It operates both in the 'light side' (building materials and timber) and 'heavy side' (civils and landscaping), through 31 locations in the UK.
· Plumbing and Heating: a specialist distributor in the UK of plumbing and heating products to a UK network of independent merchants, installers and the general public. The division offers its customers an attractive proposition through a multi-channel offering. The division operates over 17 locations enabling nationwide next day delivery service.
Lords was established over 35 years ago as a family business with its first retail unit in Gerrards Cross, Buckinghamshire. Since then, the Group has grown to a business operating from 48 sites. Lords aims to become a £500 million turnover building materials distributor group by 2024 as it grows its national presence.
Lords was admitted to trading on AIM in July 2021 with the ticker LORD.L. For additional information please visit www.lordsgrouptradingplc.co.uk.
The following notifications are intended to satisfy the Company's obligations under Article 19(3) of the Market Abuse Regulation.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
| a) | Name | Chris Day | ||||||
| 2 | Reason for notification |
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| a) | Position/Status | CFO and COO | ||||||
| b) | Initial notification/amendment | Initial notification
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| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
| a) | Name | Lords Group Trading plc
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| b) | LEI | 9845009A4D87F1CE5145
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| 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
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| a) | Description of the financial instrument, type of instrument and identification code | Nil cost share options ISIN: GB00BM9CLS53
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| b) | Nature of transaction | Conditional award of new ordinary shares pursuant to Lords Group LTIP
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| c) | Price(s) and volume(s) |
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| d) | Aggregated information | N/A
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| e) | Date of transaction | [20/09/2023]
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| f) | Place of transaction | Outside of a trading venue
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