City Pub Group (The) - Grant of Options and Director / PDMR Shareholdings

City Pub

18/05/2021 12:52

RNS Number : 0242Z

City Pub Group PLC (The)

18 May 2021

 

18 May 2021

The City Pub Group plc

("The City Pub Group" or the "Company")

Grant of Options and Director / PDMR Shareholdings

The City Pub Group plc announces that on 18 May 2021 the Company granted awards (in the form of nominal cost options) over 1,550,000 ordinary shares of 1p each ("Ordinary Shares") to certain Directors and employees of the Company (the "Options").

The Options have been granted under the Company's Long Term Incentive Plan, are exercisable in 2024 following release of the Company's audited accounts for the year ended 31 December 2023, are subject to performance conditions relating to the Company's EBITDA profitability (pre-IFRS 16) and have a 10 year term.

Details of the Options granted to the PDMRs of the Company are set out in the table below together with further information required under the Market Abuse Regulation in respect of PDMR dealings at the end of this announcement.

Name
Position
Number of shares subject to Options granted
Clive Watson
Executive Chairman
400,000
Tarquin Williams
Chief Financial Officer
400,000
Rupert Clark
Managing Director
400,000
Chris Merriman
Chief Accountant
50,000

 

The Company also announces that on 18 May 2021 the following Directors relinquished their interests, for no consideration, in an aggregate of 1,200,000 Ordinary Shares under the Company's Joint Share Ownership Plan ("JSOP") (the "Relinquished Shares") as follows:

Name
Position
Number of shares over which JSOP awards relinquished
Clive Watson
Executive Chairman
400,000
Tarquin Williams
Chief Financial Officer
400,000
Rupert Clark
Managing Director
400,000

 

The awards of 400,000 Options each to Clive Watson, Tarquin Williams and Rupert Clark are intended to replace the Relinquished Shares.

Following the grant of the Options, there are options over a total of 8,230,000 Ordinary Shares in the Company, representing 7.8 per cent. of the Company's current issued share capital. In addition, there are 675,000 Ordinary Shares held in the Company's employee benefit trust ("EBT") that are subject to outstanding JSOP awards, as well as a further 1,250,000 unallocated Ordinary Shares in the EBT (together the "JSOP Shares") that would be available to satisfy any outstanding options under the LTIP or the Company's Company Share Option Plan. The 1,250,000 unallocated Ordinary Shares referred to above include the 1,200,000 Relinquished Shares and 50,000 shares to be relinquished by other employees who have recently departed the Company. The aggregate 1,925,000 JSOP Shares do not have voting rights.

 

1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Clive Watson
2.
Reason for the Notification
a)
Position/status
Executive Chairman
b)
Initial notification/ Amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
The City Pub Group plc
b)
LEI
213800OHELCFJ6GLZC03
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Options over Ordinary Shares of 1p each
Identification code
GB00BYWRS683
b)
Nature of the transaction
Grant of options
c)
Price(s) and volume(s)
Price
Volume
Nil
400,000
d)
Aggregated information:
·Aggregated volume
·Price
Single transaction as in 4c) above
400,000
Nil
e)
Date of the transaction
18 May 2021
f)
Place of the transaction
Outside a trading venue

 

1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Clive Watson
2.
Reason for the Notification
a)
Position/status
Executive Chairman
b)
Initial notification/ Amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
The City Pub Group plc
b)
LEI
213800OHELCFJ6GLZC03
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Interests in ordinary shares of 1p each under the Company's Joint Share Ownership Plan
Identification code
GB00BYWRS683
b)
Nature of the transaction
Disposal of interest
c)
Price(s) and volume(s)
Price
Volume
Nil
400,000
d)
Aggregated information:
·Aggregated volume
·Price
Single transaction as in 4c) above
400,000
Nil
e)
Date of the transaction
18 May 2021
f)
Place of the transaction
Outside a trading venue

 

1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Tarquin Williams
2.
Reason for the Notification
a)
Position/status
Chief Financial Officer
b)
Initial notification/ Amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
The City Pub Group plc
b)
LEI
213800OHELCFJ6GLZC03
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Options over Ordinary Shares of 1p each
Identification code
GB00BYWRS683
b)
Nature of the transaction
Grant of Options
c)
Price(s) and volume(s)
Price
Volume
Nil
400,000
d)
Aggregated information:
·Aggregated volume
·Price
Single transaction as in 4c) above
400,000
Nil
e)
Date of the transaction
18 May 2021
f)
Place of the transaction
Outside a trading venue

 

1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Tarquin Williams
2.
Reason for the Notification
a)
Position/status
Chief Financial Officer
b)
Initial notification/ Amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
The City Pub Group plc
b)
LEI
213800OHELCFJ6GLZC03
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Interests in ordinary shares of 1p each under the Company's Joint Share Ownership Plan
Identification code
GB00BYWRS683
b)
Nature of the transaction
Disposal of Interest
c)
Price(s) and volume(s)
Price
Volume
Nil
400,000
d)
Aggregated information:
·Aggregated volume
·Price
Single transaction as in 4c) above
400,000
Nil
e)
Date of the transaction
18 May 2021
f)
Place of the transaction
Outside a trading venue

 

 

1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Rupert Clark
2.
Reason for the Notification
a)
Position/status
Managing Director
b)
Initial notification/ Amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
The City Pub Group plc
b)
LEI
213800OHELCFJ6GLZC03
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Options over Ordinary Shares of 1p each
Identification code
GB00BYWRS683
b)
Nature of the transaction
Grant of Options
c)
Price(s) and volume(s)
Price
Volume
Nil
400,000
d)
Aggregated information:
·Aggregated volume
·Price
Single transaction as in 4c) above
400,000
Nil
e)
Date of the transaction
18 May 2021
f)
Place of the transaction
Outside a trading venue

 

1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Rupert Clark
2.
Reason for the Notification
a)
Position/status
Managing Director
b)
Initial notification/ Amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
The City Pub Group plc
b)
LEI
213800OHELCFJ6GLZC03
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Interests in ordinary shares of 1p each under the Company's Joint Share Ownership Plan
Identification code
GB00BYWRS683
b)
Nature of the transaction
Disposal of interest
c)
Price(s) and volume(s)
Price
Volume
Nil
400,000
d)
Aggregated information:
·Aggregated volume
·Price
Single transaction as in 4c) above
400,000
Nil
e)
Date of the transaction
18 May 2021
f)
Place of the transaction
Outside a trading venue

 

 

1.
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Chris Merriman
2.
Reason for the Notification
a)
Position/status
Management Accountant
b)
Initial notification/ Amendment
Initial notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
The City Pub Group plc
b)
LEI
213800OHELCFJ6GLZC03
4.
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)
Description of the Financial instrument, type of instrument
Options over Ordinary Shares of 1p each
Identification code
GB00BYWRS683
b)
Nature of the transaction
Grant of Options
c)
Price(s) and volume(s)
Price
Volume
Nil
50,000
d)
Aggregated information:
·Aggregated volume
·Price
Single transaction as in 4c) above
50,000
Nil
e)
Date of the transaction
18 May 2021
f)
Place of the transaction
Outside a trading venue

 

Enquiries:

The City Pub Group
Clive Watson, Chairman
Tarquin Williams, CFO
Tel: +44 20 7559 5106
Liberum (Nomad & Broker)
Chris Clarke / Edward Thomas / Clayton Bush
Tel: +44 20 3100 2000
Instinctif Partners
Matthew Smallwood / Jack Devoy
Tel: +44 20 7457 2020

 

 

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