Hargreaves Services : Share Option Awards to Executive Directors & PDMRs

RNS Number : 7473W

Hargreaves Services PLC

13 December 2019

13 December 2019

HARGREAVES SERVICES PLC

(the "Company", the "Group" or "Hargreaves")

Share Option Awards to Executive Directors and PDMRs

Hargreaves Services plc (AIM: HSP), a diversified group delivering key projects and services to the industrial and property sectors, announces that a total of 97,788 options ("LTIP Options") were awarded on 13 December 2019 to Gordon Banham and John Samuel, executive directors of the Company, to subscribe for ordinary shares of 10p each pursuant to the Company's Long Term Incentive Plan (The Hargreaves Services plc Executive Share Option Scheme) which was adopted on 30 October 2019 and approved at the Annual General Meeting held on that date. The awards comprise the following allocations:

G Banham (Group Chief Executive)	48,894
J Samuel (Group Finance Director)	48,894

The LTIP Options are exercisable at an exercise price of 10p per ordinary share from 14 December 2022 but are only exercisable to the extent that certain performance criteria are achieved by the Group over a three year performance period commencing 1 June 2019. The options must be exercised before 14 December 2024.

A summary of the performance criteria is set out in the Directors' Remuneration Report in the Annual Report and Accounts for the year ended 31 May 2019 and in the Notes to the Notice of the 2019 Annual General Meeting which was held on 30 October 2019. These documents are available on the Company's website.

Following the above option awards, the respective interests of Gordon Banham and John Samuel in the share capital of the Company are as follows:

	Ordinary Shares	Vested but	Unvested options
	unexercised options
Gordon Banham	2,632,575	Nil	124,144
John Samuel	28,000	Nil	124,144

Additionally, 24,360 nil cost options have been issued to Stephen Craigen, Group Financial Controller and a PDMR, and a further 22,002 nil cost options have been issued to Gayle Mulvaney, Group Treasurer and a PDMR. These options have been issued under the Company's 2019 Deferred Share Bonus Scheme G and will vest on 14 December 2022, subject only to continued employment at that date.

Total Voting Rights

The total number of ordinary shares of 10p each with voting rights in issue is 32,203,564. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure and Transparency Rules.

Following the above LTIP and Deferred Share Bonus Scheme awards, there are a total of 771,424 (being 2.4% of total voting rights) options outstanding, 37,973 (0.12% of total voting rights) of which have vested but have not yet been exercised.

For further details:

Hargreaves Services plc

0191 373 4485

Gordon Banham, Group Chief Executive

John Samuel, Group Finance Director

Buchanan (Financial PR)

0207 466 5000

Mark Court / Henry Wilson

N+1 Singer (NOMAD and Joint Corporate Broker)	020 7496 3000
Sandy Fraser/ Rachel Hayes/Justin McKeegan
Investec (Joint Corporate Broker)	020 7597 5970
Sara Hale / Cassie Herlihy

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gordon Banham
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a)	Name	Hargreaves Services plc
b)	LEI	213800O17BER1SHMH466
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	Grant of options over ordinary shares of 10p each in
Hargreaves Services plc
	instrument, type of instrument
	Identification code
		ISIN: GB00B0MTC970
b)	Nature of the transaction	Grant of options over ordinary shares
c)	Price(s) and volume(s)	48,894 options at an exercise price of 10p per ordinary share
d)	Aggregated information	N/A
	- Aggregated volume
	- Price
e)	Date of the transaction	13 December 2019
f)	Place of the transaction	Off market transaction

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Samuel
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	Hargreaves Services plc

b)	LEI	213800O17BER1SHMH466
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	Grant of options over ordinary shares of 10p each in
Hargreaves Services plc
	instrument, type of instrument
	Identification code
		ISIN: GB00B0MTC970
b)	Nature of the transaction	Grant of options over ordinary shares
c)	Price(s) and volume(s)	48,894 options at an exercise price of 10p per ordinary share
d)	Aggregated information	N/A
	- Aggregated volume
	- Price
e)	Date of the transaction	13 December 2019
f)	Place of the transaction	Off market transaction

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Stephen Craigen
2	Reason for the notification
a)	Position/status	Group Financial Controller
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a)	Name	Hargreaves Services plc
b)	LEI	213800O17BER1SHMH466
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	Grant of options over ordinary shares of 10p each in
Hargreaves Services plc
	instrument, type of instrument
	Identification code
		ISIN: GB00B0MTC970
b)	Nature of the transaction	Grant of options over ordinary shares
c)	Price(s) and volume(s)	24,360 options at an exercise price of Nil p per ordinary share
d)	Aggregated information	N/A
	- Aggregated volume
	- Price
e)	Date of the transaction	13 December 2019
f)	Place of the transaction	Off market transaction

• Details of the person discharging managerial responsibilities / person closely associated

a)	Name	Gayle Mulvaney
2	Reason for the notification
a)	Position/status	Group Treasurer
b)	Initial notification /Amendment	Initial
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or
auction monitor
a)	Name	Hargreaves Services plc
b)	LEI	213800O17BER1SHMH466
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	Grant of options over ordinary shares of 10p each in
Hargreaves Services plc
	instrument, type of instrument
	Identification code
		ISIN: GB00B0MTC970
b)	Nature of the transaction	Grant of options over ordinary shares
c)	Price(s) and volume(s)	22,002 options at an exercise price of Nil p per ordinary share
d)	Aggregated information	N/A
	- Aggregated volume
	- Price
e)	Date of the transaction	13 December 2019
f)	Place of the transaction	Off market transaction

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