Company Announcements

Brickability Group PLC 

LEI: 213800SK28MWXB3K3P26

27 September 2024

Brickability Group PLC

(the "Company" or the "Group")

Grant of Options

Brickability Group PLC, the leading construction materials distributor, announces that on 25 September 2024 it awarded a total of 4,588,501 options to subscribe for new ordinary shares in the Company under the Brickability Group PLC Long Term Incentive Plan ("LTIP"). Of these, 3,310,385  are conditional performance related options and include the following options granted to Directors and Senior Management ("Management Options").

The Management Options are exercisable on the same terms as previous options granted under the Company's LTIP, each exercisable at the nominal price of 1 penny and have vesting conditions tied to adjusted EBITDA and total shareholder return, with each award split equally between the two performance conditions. Vesting will occur on a straight-line basis on achieving 18% (equivalent to 6% annually) to 30% (equivalent to 10% annually) of the relevant performance condition over the performance period. There is no vesting if the relevant target is not met but a 25% vesting if the initial 18% hurdle is met with a proportionate additional vesting up to 100% if the 30% threshold is met. To the extent vested, the options will be subject to a two-year holding period following the expiry of the performance period. The performance period will be 1 April 2024 to 31 March 2027.

The balance of the options awarded (being 1,278,116) are restricted share options which are being issued to a number of Group employees outside of the senior management team. These are not subject to performance conditions or the additional holding period but, as with all options awarded under the plan, require that grantees remain in the Group's employment for the duration of the vesting period being the period from 1 April 2024 to 31 March 2027.

About Brickability

Brickability Group PLC is a leading distributor and provider of specialist products and services to the UK construction industry. The business comprises four divisions: Bricks and Building Materials, Importing, Distribution and Contracting. With an agile, de-centralised, capital-light business model, supported by a strong balance sheet, Brickability leverages the skills of its people company-wide to effectively service the complex and evolving needs of the construction industry.

Founded in 1985, the Group has grown organically through product diversification and geographic expansion, as well as through the acquisition of specialist businesses that support its long-term strategy for growth. Today, the Group encompasses a diverse portfolio of market-leading brands and a dedicated team of over 800 skilled professionals, led by a management team with deep-rooted knowledge and experience in the UK and European construction industries.

The Group is committed to building better communities throughout the supply chain and supporting the delivery of sustainable developments that enhance the built environment for future generations, while delivering continuous value for shareholders.

The Company makes the following disclosures in accordance with article 19(3) of the Market Abuse Regulation: