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LONDON - Billington Holdings Plc (AIM:BILN), a prominent UK structural steel and construction safety solutions provider, has announced the latest awards under its Long Term Incentive Plan (LTIP), designed to align the interests of senior management with the strategic goals of the company and its shareholders.
The awards, which were agreed upon by the company’s Remuneration Committee, are linked to the profitability of the company over a three-year period, spanning the financial years 2025 to 2027. The LTIP’s performance criteria stipulate that full vesting of the awards will occur only if Billington achieves a cumulative statutory unadjusted Profit Before Tax (PBT) between £30 million, which would result in a 25% vesting, and £40 million, which would trigger a 100% vesting.
The specific awards granted under the LTIP include 90,000 ordinary share options to Chief Executive Officer Mark Smith and 71,429 to Chief Financial Officer Trevor Taylor. Following these grants, Smith’s total number of LTIP options held amounts to 335,765, with a total potential shareholding of 4.02% when combined with his current ordinary shareholding and shares held under the Deferred Bonus Plan (DBP). Similarly, Taylor’s total LTIP options come to 264,276, with a potential shareholding of 3.16% inclusive of his ordinary shares and DBP holdings.
The establishment of the LTIP is part of Billington’s broader strategy to ensure that the remuneration structure supports the maximization of shareholder value by incentivizing the achievement of key financial targets. This move is reflective of a common practice among publicly traded companies to motivate executives to pursue long-term growth and profitability through performance-based equity awards.
The information for this article is based on a press release statement from Billington Holdings Plc.
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