AIREA PLC, a UK design-led specialist flooring company, has announced the granting of nil-cost options over ordinary shares to its Chief Executive Officer, Médéric Payne, and Chief Financial Officer, Conleth Campbell, under the Long Term Incentive Plan (LTIP). Médéric Payne was granted 120,000 new options, bringing his total to 620,000, while Conleth Campbell received 250,000 new options. These awards are subject to performance conditions based on the company's EBITDA and share price performance over a three-year period ending 31 December 2025. The options will vest on 31 December 2025 and can be exercised between 1 January 2026 and 15 December 2032.
The LTIP details were provided in the Company's Annual Report and Accounts for the year ending 31 December 2023. AIREA plc, which has been focused solely on floor coverings since 2007, enjoys a strong brand position within the commercial flooring market. Its core brand, Burmatex®, is a leading designer and manufacturer of commercial carpet tiles and planks, with a focus on sustainable innovative flooring solutions for various sectors. The Group was admitted to trading on AIM of the London Stock Exchange on 12 December 2007.
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The notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated ("PCAs") with them were also provided in the announcement. Médéric Payne and Conleth Campbell were both granted options over Ordinary Shares pursuant to the Company's long term incentive plan on 26 June 2024. The options were granted at nil cost and are part of the Company's efforts to incentivize and reward its key executives for the long-term success and growth of the business.