Hill & Smith Holdings PLC ('Hill & Smith' or 'the Company')
Director and PDMR Shareholdings

20 September 2021

Hill & Smith 2014 Long-Term Incentive Plan

LTIP Award - 16 September 2021

On 16 September 2021 the Remuneration Committee of the Company approved the grant of awards, in the form of nil-cost options over ordinary shares in the Company in accordance with the provisions of the Hill & Smith Holdings 2014 Long Term Incentive Plan (the "LTIP"). 

Mr P Simmons has been granted a nil-cost option over 58,762 ordinary shares and Mrs H K Nichols has been granted a nil-cost option over 31,075 ordinary shares.

Under the rules of the LTIP and the Company's Remuneration Policy, the vesting of the Awards is subject to the achievement of set performance conditions. In the Directors' Remuneration Report for the year ending 31 December 2020, the Company noted that it would confirm these when the awards were granted. As with previous years, the performance measures are based 50% upon the Company's underlying earnings per share and 50% upon its Total Shareholder Return ('TSR'). The relative TSR measure (including the comparator group) remains the same as previously. Having regard to the impact of the Covid-19 pandemic, the Remuneration Committee has concluded that it would be better to set the EPS targets as absolute rather than growth measures. The performance measures and targets are summarised below.

*Straight line vesting applies between threshold and maximum vesting

** compared to the FTSE 250 excluding investment trusts and financial services companies

The Awards will (subject to the achievement of the performance conditions) vest following the end of the performance period but may not ordinarily be exercised until the end of a further two-year holding period.