REG - Fletcher King PLC - Grant of Share Options

Fletcher KingAnnouncement

01/03/2019 16:15

RNS Number : 6547R
Fletcher King PLC
01 March 2019
 


FLETCHER KING PLC
GRANT OF SHARE OPTIONS
 
Fletcher King plc (the "Company") announces that, further to the announcement of 19 October 2016 regarding the introduction of a new Enterprise Management Incentive plan, the remuneration committee has today awarded a total of 640,000 options over ordinary shares of 10 pence each in the Company ("Ordinary Shares") to certain Directors and employees (the "Options"). These Options were granted under the rules of the Company's EMI scheme.
The Options are exercisable at the closing mid-market price of Ordinary Shares ("Market Value") as at 28 February 2019, being 46 pence per Ordinary Share (the "Exercise Price").
The Options are ordinarily exercisable after a minimum period of five years and conditional on the Market Value of an Ordinary Share at the exercise date having been, for the immediately preceding period of 30 trading days, at least 20% higher than the Market Value of a Share at the date of grant.  The Options expire on the tenth anniversary of grant if not exercised.
The Directors who have been awarded Options are as follows:




 


Director


Position


Number of Options granted


 




 


Richard Goode


Managing Director


100,000


 




 


Robert Dickman


Executive Director


150,000


 




 


Paul Andrews


Executive Director


150,000


 




In aggregate, the 400,000 Options granted to the Directors represent approximately 4.34 per cent. of the current issued share capital of the Company.
In addition, a further 240,000 Options were awarded to certain employees of the Company, on the same terms as above.
Following the grant of the Options, the total number of Ordinary Shares outstanding under option arrangements is 1,240,000, representing approximately 13.46 per cent. of the Company's issued share capital.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
 
 
 
 
Enquiries
 
Fletcher King plc
David Fletcher
Tel: 0207 493 8400
 
Cairn Financial Advisers LLP
James Caithie / Tony Rawlinson
Tel: 020 7213 0880
 
 




Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014




Details of the person discharging managerial responsibilities/person closely associated




Name


Richard Goode




Reason for notification


 




Position/Status


Director




Initial notification/
Amendment


Initial




Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




Name


Fletcher King plc




LEI


               




 


21380047ETCYL7UA8W49




 




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




Description of the financial instrument, type of instrument



Identification Code


Options over ordinary shares of 10p each



 
 
GB0003425310




Nature of the transaction


Grant of Options to subscribe for ordinary shares




Price(s) and volume(s)


 


 


 


 


 




 


Price(s)


Volume(s)


 




Exercise price of 46p per share


100,000


 




 




Aggregated information
 
- Aggregated Volume
 
- Price


 
N/A
 




Date of the transaction


1 March 2019




Place of the transaction


UK
 



 
 
 
 
 
 
 
 



 




Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014




Details of the person discharging managerial responsibilities/person closely associated




Name


Robert Dickman




Reason for notification


 




Position/Status


Director




Initial notification/
Amendment


Initial




Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




Name


Fletcher King plc




LEI


               




 


21380047ETCYL7UA8W49




 




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




Description of the financial instrument, type of instrument



Identification Code


Options over ordinary shares of 10p each



 
 
GB0003425310




Nature of the transaction


Grant of Options to subscribe for ordinary shares




Price(s) and volume(s)


 


 


 


 


 




 


Price(s)


Volume(s)


 




Exercise price of 46p per share


150,000


 




 




Aggregated information
 
- Aggregated Volume
 
- Price


 
N/A
 




Date of the transaction


1 March 2019




Place of the transaction


UK
 



 
 
 
 
 
 
 
 



 




Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014




Details of the person discharging managerial responsibilities/person closely associated




Name


Paul Andrews




Reason for notification


 




Position/Status


Director




Initial notification/
Amendment


Initial




Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




Name


Fletcher King plc




LEI


               




 


21380047ETCYL7UA8W49




 




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




Description of the financial instrument, type of instrument



Identification Code


Options over ordinary shares of 10p each



 
 
GB0003425310




Nature of the transaction


Grant of Options to subscribe for ordinary shares




Price(s) and volume(s)


 


 


 


 


 




 


Price(s)


Volume(s)


 




Exercise price of 46p per share


150,000


 




 




Aggregated information
 
- Aggregated Volume
 
- Price


 
N/A
 




Date of the transaction


1 March 2019




Place of the transaction


UK
 



 
 
 
 
 
 
 
 



 




This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
DSHJBMFTMBMMBBL