Regulatory News
Award of Options under LTIP, PDMR and PCA Dealings
12 February 2025
Lords, a leading distributor of building materials in the UK, announces an award of options to subscribe for new ordinary shares in the Company (‘Ordinary Shares’) under the Company’s Long Term Incentive Plan (‘LTIP’) and a purchase of ordinary shares in the Company by persons closely associated with Stuart Kilpatrick, the Company’s Chief Financial Officer.
Award of Options under LTIP
On 7 February 2025, the Group's Remuneration Committee has approved the award of nil cost options over an aggregate of 400,000 new Ordinary Shares under the terms of the Company's LTIP (the 'Award') to Stuart Kilpatrick, the Company's Chief Financial Officer. This Award is being granted to replace certain interests held by Stuart Kilpatrick in connection with his former role and which were forfeited on joining the Company.
The Award will vest two and a half years from grant at nil pence per Ordinary Share subject to the following performance criteria (‘Award Performance Conditions’).
Award Performance Conditions
In line with the recognition of the importance of aligning Lords’ management team with the success of the Group in the medium and longer term, the Award is subject to the following performance conditions:
- 50% of the overall Award will vest by reference to the Group’s adjusted earnings per share starting with H2-24 and ending with the financial year ending 31 December 2026.
- 50% of the overall Award will be made by reference to the Group’s total shareholder return performance starting with H2-24 and ending with the financial year ending 31 December 2026.
The Remuneration Committee has discretion to amend the vesting criteria of the Award to ensure that performance targets remain appropriate.
PCA Dealing
The Company also announces that it has been notified that Katharine Kilpatrick, a PCA of Stuart Kilpatrick, purchased 45,000 shares at a price of 31.2 pence per Ordinary Share on 11 February 2025. Following this purchase, Stuart Kilpatrick’s total reportable shareholding in the Company is 45,000 Ordinary Shares (including those held by PCAs), representing 0.027% of the Company’s issued ordinary share capital.
Additional detail is provided below in accordance with the requirements of UK MAR.
FOR FURTHER ENQUIRIES:
| Lords Group Trading plc | Via Burson Buchanan | |
| Shanker Patel, Chief Executive Officer | Tel: +44 (0) 20 7466 5000 | |
| Stuart Kilpatrick, Chief Financial Officer | ||
| Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker) | Tel: +44 (0)20 7220 0500 | |
| Ben Jeynes / Dan Hodkinson (Corporate Finance) | ||
| Julian Morse / Henry Nicol / Charlie Combe (Sales/ECM) | ||
| Berenberg (Joint Broker) Matthew Armitt / Harry Nicholas / Detlir Elezi | Tel: +44 (0)20 3207 7800 | |
| Burson Buchanan | Tel: +44 (0) 20 7466 5000 | |
| Henry Harrison-Topham / Steph Whitmore / Abby Gilchrist | [email protected] | |
Notes to Editors:
Lords is a specialist distributor of building, plumbing, heating and DIY goods. The Group principally sells to local tradesmen, small to medium sized plumbing and heating merchants, construction companies and retails directly to the general public.
The Group operates through the following two divisions:
Merchanting: supplies building materials and DIY goods through its network of merchant businesses and online platform capabilities. It operates both in the 'light side' (building materials and timber) and 'heavy side' (civils and landscaping), through 32 locations in the UK.
Plumbing and Heating: a specialist distributor in the UK of plumbing and heating products to a UK network of independent merchants, installers and the general public. The division offers its customers an attractive proposition through a multi-channel offering. The division operates over 16 locations enabling nationwide next day delivery service.
For additional information please visit www.lordsgrouptradingplc.co.uk
The following notifications are intended to satisfy the Company's obligations under Article 19(3) of the Market Abuse Regulation:
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Stuart Kilpatrick | ||||
| 2 | Reason for notification | |||||
| a) | Position/Status | CFO | ||||
| b) | Initial notification/amendment | Initial notification | ||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Lords Group Trading plc | ||||
| b) | LEI | 9845009A4D87F1CE5145 | ||||
| 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 and identification code | Nil cost share options ISIN: GB00BM9CLS53 | ||||
| b) | Nature of transaction | Award of new ordinary shares pursuant to Lords Group LTIP | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information | N/A | ||||
| e) | Date of transaction | 07/02/2025 | ||||
| f) | Place of transaction | Outside of a trading venue | ||||
| Details of the person discharging managerial responsibilities/person closely associated | |||||
|---|---|---|---|---|---|
| Name | Katharine Kilpatrick | ||||
| Reason for notification | |||||
| Position/Status | PCA of Stuart Kilpatrick (CFO) | ||||
| Initial notification/amendment | Initial notification | ||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| Name | Lords Group Trading plc | ||||
| LEI | 9845009A4D87F1CE5145 | ||||
| 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 | |||||
| Description of the financial instrument, type of instrument and identification code | Ordinary Shares of 0.05p each ISIN: GB00BM9CLS53 | ||||
| Nature of transaction | Purchase of Ordinary Shares | ||||
| Price(s) and volume(s) |
| ||||
| Aggregated information | N/A | ||||
| Date of transaction | 11/02/2025 | ||||
| Place of transaction | London Stock Exchange | ||||