Hargreaves Services plc (AIM: HSP), the diversified group delivering services across environmental, clean energy, and connectivity markets, has announced the award of 189,477 share options to directors, persons discharging managerial responsibilities (PDMRs), and senior employees on 11 November 2026. The options were granted under the Company's Executive Share Option Scheme 2026 at an exercise price of 10p per ordinary share. The awards align leadership incentives with long-term shareholder value, with the options becoming exercisable from 12 November 2029 at the earliest.

Key Points

  • Hargreaves Services plc (AIM: HSP) — diversified services group headquartered in Newcastle
  • A total of 189,477 options granted on 11 November 2026 under the Executive Share Option Scheme 2026
  • Exercise price set at 10p per ordinary share; options exercisable between 12 November 2029 and 11 November 2031
  • Investors may watch whether further awards or updates to the scheme are disclosed in forthcoming communications

Option Allocations Across Directors Simon Hicks and Stephen Craigen

Chief Executive Officer Simon Hicks received the largest individual award of 43,266 options, while Chief Financial Officer Stephen Craigen was granted 32,761 options. Following the awards, the announcement states that Hicks holds 4,250 ordinary shares, representing 0.01% of issued share capital, alongside 83,246 unvested options in total. Stephen Craigen holds 35,737 ordinary shares, equating to 0.12% of issued share capital, with 110,816 unvested options in total. Neither director holds any vested but unexercised options, according to the disclosure.

PDMR and Senior Employee Awards Under the Executive Share Option Scheme 2026

Four PDMRs — Bruce Lindsay, Niall Fraser, and Sean Hager — each received 11,000 options, while David Hankin and Rachel Ovington were each awarded 4,000 options. Beyond the named PDMRs, the announcement confirms that 23 senior non-PDMR employees collectively received 72,450 options, representing the largest single block of the total award. All options across the entire cohort carry the same exercise price of 10p per ordinary share and are subject to the same exercise window running from November 2029 to November 2031.

Hargreaves Services' Three-Division Structure and Growth Context

Hargreaves operates through three divisions: Services, Land, and a German joint venture. The Services division — which provides earthmoving, waste management, materials handling, mechanical and electrical contracting, and logistics — is described in the announcement as the central driving force behind the group's growth. The Land division focuses on realising value from legacy assets, while the German operation, which includes specialist steel waste recycler DK Recycling, is being optimised to support dividend contributions. The group operates across the UK and internationally, with its headquarters in Newcastle.

Scheme Design and Vesting Timeline for HSP Option Holders

The options were granted as off-market transactions and are structured to vest no earlier than 12 November 2029, introducing a minimum three-year horizon before any participant may exercise their entitlement. The scheme's design means that value for recipients is contingent on the company's ordinary share price exceeding the 10p exercise price by the time the window opens. The announcement was made in compliance with EU Market Abuse Regulation notification requirements, and all transactions were reported as initial notifications with no amendments disclosed.