Belvoir reveals scheme designed to ‘retain and incentivise’ senior team

Belvoir Group has revealed a share incentive scheme that will give its nine most senior directors share options worth collectively around £1.5m based on its current share price of £2.40p under its Belvoir Group Performance Share Plan.

The nil cost options include a total of 635,183 new ordinary shares in the company being awarded to its executive directors and members of its senior management team.

The company says that the awards ‘reflect their roles and responsibilities in determining and executing the Group strategic growth plans’.

The inventive is designed to ‘retain and incentivise the executive directors and senior management team accordingly’, according to a statement issued to investors yesterday.

The awards are subject to growth targets between now and 31 December 2023.

Dorian Gonsalves

A floor of 16.9p per share and a cap of 22.2p per share applies to the EPS Performance Condition; these represent ambitious growth over the two and a half years of 15.8% and 52.1% respectively.  

 The maximum awards for directors and PDMRs are stated below:

 Name                             Position                                                                    Number of shares

                                                                                                                         subject to awards 

Dorian Gonsalves           Chief Executive Officer, Belvoir Group PLC                               247,347

Louise George                Chief Finance Officer, Belvoir Group PLC                                  207,122

Mark Newton                  Executive Director, Belvoir Group PLC                                      103,041

Michelle Brook                Managing Director, Brook Financial Services Ltd                           9,527

Philip Gee                       Managing Director, Northwood GB Limited                                    8,327

David Spackman            Manging Director, Newton Fallowell Limited                                   6,531

Ian Maclean                    Franchise Director, Belvoir Property Management (UK) Limited    6,531

Tim Wood                       Financial Services Director, Brook Financial Services Ltd              4,580

Julie Wilson                    Group Financial Controller, Belvoir Group PLC                               5,094

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