REG - Fletcher King PLC - Grant of Share Options

Fletcher KingAnnouncement

05/10/2021 08:05

RNS Number : 0376O
  
Fletcher King PLC
  
05 October 2021
  
 

5 October 2021
 
 
Fletcher King plc   
            
("Fletcher King" or "the Company")
 
Grant of Share Options
 
 
The Board of Fletcher King PLC (AIM: FLK) announces that, further to the announcement of 19 October 2016 regarding the introduction of a new Enterprise Management Incentive plan and the announcement of 28 April 2020 regarding the surrender of options, the remuneration committee has today awarded a total of 920,000 options over ordinary shares of 10 pence each in the Company ("Ordinary Shares") to certain Directors, PDMRs and employees (the "Options"). The 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 4 October 2021, being 50 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 and PDMRs who have been awarded Options are as follows:
 



Name


Position/PDMR


Number of Options granted




Robert Dickman


Executive Director


250,000




Paul Andrews


Managing Director


250,000




Peter Bailey


Finance Director


200,000




Paul Morris


PDMR


100,000



 
In aggregate, the 800,000 Options granted to the Directors and PDMRs represent approximately 8.69 per cent. of the current issued share capital of the Company.
 
In addition, a further 120,000 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 920,000 representing approximately 9.99 per cent. of the Company's issued share capital.
 
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
 
 
Enquiries
 
Fletcher King plc
David Fletcher / Peter Bailey
Tel: 0207 493 8400
 
Cairn Financial Advisers LLP
James Caithie / Liam Murray
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


a) Robert Dickman
b) Paul Andrews
c) Peter Bailey
d) Paul Morris
 




Reason for notification








Position/Status


a) Executive Director
b) Managing Director
c) Finance Director
d) Director of subsidiary company
 




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)








a) 50p
b) 50p
c) 50p
d) 50p
 


a) 250,000
b) 250,000
c) 200,000
d) 100,000
 














Aggregated information
 
- Aggregated Volume
 
- Price


 
 
 
800,000
50p




Date of the transaction


5 October 2021




Place of the transaction


UK
 













                                                                                                 

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