Original
RNS Number : 3700E
Dunelm Group plc
18 October 2018
 

18 October 2018

 

 DUNELM GROUP plc

(the "Company")

 

NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL

RESPONSIBILITY AND CONNECTED PERSONS

 

LTIP award granted to Nick Wilkinson

 

On 17 October 2018, a conditional award under the Company's Long Term Incentive Plan (LTIP) has been granted to Nick Wilkinson over ordinary shares of one pence each in Dunelm Group plc, in the form of a nil cost option.

 

Using a closing mid price on 16 October 2018 of 598 pence, an award has been granted

as follows:   

 

Name

Basic salary

 

200% of basic salary

Share price used to calculate number of nil cost options

Number of shares in award

Nick Wilkinson

 

£540,600

£1,081,200

598p

180,802

 

 

 

The award is made in accordance with the 2017 Remuneration Policy approved by shareholders on 21 November 2017 (the "2017 Policy").

 

The option may be exercised on or after 17 October 2021, subject to the satisfaction of a performance condition over the three financial years commencing on 1 July 2018, as set out below:

 

Growth in fully diluted EPS

Percentage of LTIP award vesting

Below RPI plus 3% per annum

0%

RPI plus 3% per annum

10%

Between RPI plus 3% and RPI plus 12% per annum

Pro-rata between 10% and 100%

RPI plus 12% per annum and above

100%

 

 

On exercise, Mr Wilkinson has committed to retain two thirds of the shares vesting (after sale to cover his tax and national insurance liability on exercise), for the duration of his employment, and 50% of these for a further two years. 

 

The award is subject to malus and clawback provisions in the following circumstances:

·      a material misstatement of any Group Member's financial results;

·      a material error in assessing a performance condition applicable to the Award or in the information or assumptions on which the Award was granted or Vests:

·      a material failure of risk management in any Group Member or a relevant business unit

·      serious reputational damage to any Group Member or a relevant business unit;

·      serious misconduct or material error on the part of the individual;

·      a material corporate failure as determined by the Board; or

·      any other circumstances which the Remuneration Committee in its discretion considers to be similar in their nature or effect to those set out above; or

·      fraud on the part of the individual.

 

Including the award set out above, Nick Wilkinson holds options over the Company's ordinary shares as follows:

Name

Share scheme

Number of shares

Exercise price per share

Exercise dates

Nick Wilkinson

Long Term Incentive Plan

110,000

Nil

Between 28 February 2021 and 27 February 2028

Nick Wilkinson

Long Term Incentive Plan

180,802

Nil

Between 17 October 2021 and 16 October 2028

 

 

In addition to the above, Nick Wilkinson has a beneficial interest in ordinary shares of one pence in the Company as follows:

 

 

Director

Number of ordinary shares

Nick Wilkinson

48,876

 

 

 

Name of authorised Company official responsible for making this notification:

 

Dawn Durrant, Company Secretary

                                                                             

0116 26444439 

 

 

 

DUNELM GROUP PLC

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

 

1

 

Details of the person discharging managerial responsibilities / person closely associated

 

a)

 

Name

 

Nick Wilkinson

2

 

Reason for the notification

 

a)

 

Position/status

 

Chief Executive

b)

 

Initial notification /Amendment

 

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

Dunelm Group plc

b)

 

LEI

 

213800WCOWEI3T5DUV19

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 one pence each 

 

 

ISINGB00BICQ739  

 

b)

 

Nature of the transaction

 

 

Grant of conditional nil cost options under the Long Term Incentive Plan

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

 

Volume(s)

Nil

180,802

 

 

d)

 

Aggregated information

 

 

- Aggregated volume

 

 

- Price

 

 

  

 

 180,802

 

 

 Nil

e)

 

Date of the transaction

 

 

2018.10.17

f)

 

Place of the transaction

 

 

London Stock Exchange (XLON)

 

Name of officer of issuer responsible for making notification: Dawn Durrant

Date of notification: 2018.10.18

 

 


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