11 March 2021

Bilby Plc

("Bilby" or the "Company")

Director/PDMR Shareholding and Share Plan

Bilby Plc (AIM: BILB), a leading supplier of gas heating, electrical and building services, is pleased to announce the making of further awards under the Company's established CSOP Plan (the "CSOP Plan") and JSOP Plan (the "JSOP Plan").

The Company has granted options under the CSOP Plan on 5 March 2021 in the following quantities to the following Directors:

The following table also sets out the number of new ordinary shares ("Ordinary Shares") issued and jointly acquired by each of the named directors and the trustee of The Bilby Employees' Share Trust ("the Trust") under the JSOP Plan on 5 March 2021 at a subscription price of 35 pence per Ordinary Share, being the closing price of an Ordinary Share in the Company on 04 March 2021. 

The vesting of the Jointly Owned Shares is conditional on the achievement of specific performance conditions for the following financial and shareholder return metrics: a minimum 25% compound annual growth rate in both earnings per share and cash generated from operating activities as well as share price targets. 

Further, the Jointly Owned Shares will become vested only if the participant remains with the Company for a minimum period of 3 years.

Application has been made to the London Stock Exchange for 2,242,858 new Ordinary Shares to be admitted to trading on AIM ("Admission") and Admission is expected to become effective on 16 March 2021.

Following Admission, the beneficial interests held by each of the directors will be:

The Ordinary Shares represent 3.7% of the Company's issued share capital following grant.

Bilby advises that, following Admission of the 2,242,858 Ordinary Shares, the issued share capital of the Company will be 61,214,703 Ordinary Shares with one voting right each. The Company does not hold any shares in treasury.

The above figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Sangita Shah, Chair, Bilby plc, commented:

"I am pleased to announce the last pillar of our share incentive arrangements for the Group.  The prioritisation of our workforce saw the introduction of a Company-wide Share Incentive Plan in August 2020 with 30% of our employees embracing the opportunity to participate, followed in October 2020 by the roll out of a Company Share Option Plan with 15% of our employees now participating.  As a final step through the Joint Share Ownership Plan, we recognise our Executive Team, who have worked assiduously to revive the business into one which is poised for sustainable growth.   

The Executive Team have been required to make an immediate upfront financial commitment to participate in the Joint Share Ownership Plan for a vesting that will occur in three years' time, only subject to performance targets, demonstrating their confidence, purpose and dedication to the journey ahead.

The broad inclusion of all employees, particularly our front-line staff of Engineers and Call Administrators, reflects our commitment to create a culture of share ownership, align our staff with shareholder's interests and ensure that our staff are rewarded by sharing in the success of our business."

Enquiries