Billington Holdings Plc (LON:BILN) has confirmsed that its Remuneration Committee has agreed the following awards under the Long Term Incentive Plan.
The objective of the Plan is to ensure that the strategic objectives of the company align with those of the senior management and that the structure of the overall remuneration package assists in maximising shareholder value.
The performance criteria for these awards of shares specifically relates to the improvement in the trading performance and profitability of the Company. The full award of shares will only be made should profitability achieve specified targets by the end of the performance period of the award.
The performance criteria for the 2022-2023 plan relate to a profit before tax (PBT) range of £4.5 million (25% vests) to £6.5 million (100% vests). The performance criteria for the 2022-2024 plan relate to a profit before tax (PBT) range of £5.5 million (25% vests) to £7.5 million (100% vests).
The following awards of ordinary shares have been made in this round of the Plan:
| Name | Position | Ordinary share options granted under the Plan – 2022-2023 | Ordinary share options granted under the Plan – 2022-2024 | Total Ordinary share options granted under the Plan | Total shares awarded under Deferred Bonus Plan | Total number of shares options currently held | Total direct shareholding in BILN | Total Potential % Shareholding including options |
| Mark Smith | Chief Executive Officer | 123,359 | 126,443 | 318,955 | 18,160 | 337,115 | 19,554 | 2.758% |
| Trevor Michael Taylor | Chief Financial Officer | 92,519 | 94,832 | 239,215 | 13,620 | 252,835 | 19,323 | 2.014% |
These shares will be satisfied from the Billington Holdings Plc Employee Share Ownership Trust and at this time it is not anticipated any new shares will be issued to satisfy the award of shares under the Plan.
