Ashtead Technology Holdings plc Conditional LTIP Award (4859Y)
04 Mai 2023 - 6:04PM
UK Regulatory
TIDMAT.
RNS Number : 4859Y
Ashtead Technology Holdings plc
04 May 2023
4 May 2023
Ashtead Technology Holdings plc
("the Company")
Conditional LTIP Award
Ashtead Technology Holdings plc (AIM: AT.), a leading subsea
equipment rental and solutions provider for the global offshore
energy sector , announces that its Remuneration Committee has
conditionally granted long-term incentive awards over 438,622 new
ordinary shares of 5 pence each in the Company at nil cost under
the 2023 Long Term Incentive Plan ("2023 LTIP"), representing
approximately 0.5% of the Company's issued ordinary share capital
(the "Awards").
The Awards will vest in one tranche following a three-year
performance period not earlier than the date of release of the
Company's annual report for the year ending 31 December 2025. 50%
of the award is linked to the achievement of target compound annual
growth of Adjusted Earnings Per Share, 25% of the award is linked
to the achievement of an average ROIC and 25% of the award is
linked to the achievement of total shareholder return (TSR)
relative to the wider market tested against the performance of the
Numis Smaller Companies Index + AIM Index (ex-Investment
Companies). The Awards are subject to clawback provisions. Further
details of the performance conditions will be set out in the notice
of the 2023 Annual General Meeting ("AGM"), which will shortly be
posted to shareholders.
In accordance with best practice under the Remuneration
Committee Guide published by the Quoted Companies Alliance, the
Company will seek shareholder authority for the 2023 LTIP at its
AGM.
The awards to Persons Discharging Managerial Responsibility are
as follows:
PDMR Awards
Allan Pirie 154,417
--------
Ingrid Stewart 81,998
--------
For further information, please contact:
Ashtead Technology (Via Vigo Consulting)
Allan Pirie, Chief Executive Officer
Ingrid Stewart, Chief Financial
Officer
Vigo Consulting (financial PR) Tel: +44 (0)20 7390 0230
Patrick d'Ancona ashteadtechnology@vigoconsulting.com
Finlay Thomson
Kate Kilgallen
Numis Securities Limited (Nomad Tel: +44 (0)20 7260 1000
and Broker)
Julian Cater
George Price
Kevin Cruickshank (QE)
Notes to editors:
Ashtead Technology is a leading subsea equipment rental and
solutions provider for the global offshore energy sector. Ashtead
Technology's specialist equipment, advanced-technologies and
support services enable its customers to understand the subsea
environment and manage offshore energy production
infrastructure.
The Company's service offering is applicable across the
lifecycle of offshore wind farms and offshore oil and gas
infrastructure.
In the fast-growing offshore wind sector, Ashtead Technology's
specialist equipment and services are essential through the project
development, construction and installation phase. Once wind farms
are operational, Ashtead Technology supports customers with
inspection, maintenance and repair ("IMR") equipment and services.
In the more mature oil and gas sector, Ashtead Technology's focus
is on IMR and decommissioning.
Headquartered in the UK, the Company operates globally,
servicing customers from its ten facilities located in key offshore
energy hubs.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Allan Pirie
-------------------------- --------------------------------------------------
2. Reason for the notification
------------------------------------------------------------------------------
(a) Position/status Chief Executive Officer
-------------------------- --------------------------------------------------
(b) Initial notification/ Initial notification
Amendment
-------------------------- --------------------------------------------------
3. Details of the issuer
------------------------------------------------------------------------------
(a) Name Ashtead Technology Holdings plc
-------------------------- --------------------------------------------------
(b) LEI 213800LHEWVY66RPGR58
-------------------------- --------------------------------------------------
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 Ordinary shares of GBP0.05 each
the Financial
Instrument
-------------------------- --------------------------------------------------
(b) Identification GB00BLH42507
code of the Financial
Instrument
-------------------------- --------------------------------------------------
(c) Nature of the Grant of nil-cost options under the
transaction Long-Term Incentive Plan (LTIP)
-------------------------- --------------------------------------------------
(d) Price(s) and volume(s) Price(s) Volume(s)
----------------------------- -------------------
Nil cost options 154,417
-------------------------------------------------------------- -------------------
(e) Aggregated information N/A
* Aggregated volume
- Price
-------------------------- --------------------------------------------------
(f) Date of the transaction 4 May 2023
-------------------------- --------------------------------------------------
(g) Place of the transaction Outside a trading venue
-------------------------- --------------------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
(a) Name Ingrid Stewart
----------------------------------- ---------------------------------------
2. Reason for the notification
----------------------------------------------------------------------------
(a) Position/status Chief Financial Officer
----------------------------------- ---------------------------------------
(b) Initial notification/ Initial notification
Amendment
----------------------------------- ---------------------------------------
3. Details of the issuer
----------------------------------------------------------------------------
(a) Name Ashtead Technology Holdings plc
----------------------------------- ---------------------------------------
(b) LEI 213800LHEWVY66RPGR58
----------------------------------- ---------------------------------------
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 Ordinary shares of GBP0.05 each
the Financial
Instrument
----------------------------------- ---------------------------------------
(b) Identification GB00BLH42507
code of the Financial
Instrument
----------------------------------- ---------------------------------------
(c) Nature of the Grant of nil-cost options under the
transaction Long-Term Incentive Plan (LTIP)
----------------------------------- ---------------------------------------
(d) Price(s) and volume(s) Price(s) Volume(s)
------------------------ -------------
Nil cost options 81,998
------------------------------------------------------------------ -------------
(e) Aggregated information N/A
* Aggregated volume
- Price
----------------------------------- ---------------------------------------
(f) Date of the transaction 4 May 2023
----------------------------------- ---------------------------------------
(g) Place of the transaction Outside a trading venue
----------------------------------- ---------------------------------------
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END
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