Chesnara PLC has announced the granting of awards to its directors and persons discharging managerial responsibilities (PDMRs) under the Chesnara plc 2023 Short Term Incentive Scheme and the Chesnara plc 2023 Long Term Incentive Plan. The awards were made in accordance with the Directors' Remuneration Policy approved by shareholders on 16th May 2023.
On 2nd April 2024, Steve Murray, Group Chief Executive Officer, and David Rimmington, Group Finance Director, were granted awards over the ordinary shares of the company under the Chesnara plc 2023 Short Term Incentive Scheme. The options are not subject to a performance target and will become exercisable on 2nd April 2027, remaining exercisable up to and including 2nd April 2034 if not exercised before that date.
Additionally, Steve Murray, Amanda Wright, Gavin Hughes, and Al Lonie, all PDMRs, were granted awards over the ordinary shares of the company under the Chesnara plc 2023 Long Term Incentive Plan. These options are subject to performance targets over a period of three financial years. Subject to the achievement of the performance target, the options will become exercisable on 2nd April 2027 and remain exercisable up to and including 2nd April 2034 if not exercised before that date.
The transactions were made at nil cost, with Steve Murray being granted 58,484 ordinary shares of 5p each under the Short Term Incentive Scheme and 249,525 ordinary shares of 5p each under the Long Term Incentive Plan. David Rimmington was granted 39,807 ordinary shares of 5p each under the Short Term Incentive Scheme, and Amanda Wright was granted 39,962 ordinary shares of 5p each under the Long Term Incentive Plan.
These notifications are in accordance with the UK Market Abuse Regulations and provide detailed information about the awards granted to each PDMR. The transactions took place on 2nd April 2024.