REG - Franchise Brands PLC - Grant of options & director holdings

Franchise BrandsAnnouncement

10/05/2023 18:00

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RNS Number : 0117Z  Franchise Brands PLC  10 May 2023

10 May 2023

 

Franchise Brands PLC

("Franchise Brands", the "Group" or the "Company")

 

Grant of options and award of SARs to directors and employees

 

Franchise Brands (AIM: FRAN), a multi-brand international franchise business,
announces that following the acquisition of Pirtek Europe Ltd., its
Remuneration Committee yesterday approved the grant of up to 5,000,000 share
options and share acquisition rights ("SARs") to employees and directors, all
with an exercise price of £1.80 per share (being the closing mid-market price
of an ordinary share on 9 May 2023).

 

These grants will be awarded pursuant to the Company Share Option Plan
("CSOP") or as non-approved options or as SARs, and are all are exercisable
after three years for a period of seven years, subject to satisfaction of the
following performance conditions:

 

1)    20 per cent. can be exercised after reported fully diluted adjusted
earnings per share ("EPS") achieves compound annual growth of 8 per cent. over
each of the next three financial years to 31 December 2025;

 

2)    100 per cent. can be exercised after reported fully diluted adjusted
EPS achieves compound annual growth of 15 per cent. over each of the next
three financial years to 31 December 2025; and

 

3)    between 20 per cent. and 100 per cent. can be exercised pro rata to
EPS growth achieved between the targets in 1) and 2) above.

 

The SARs are conditional bonuses whose value will be calculated by reference
to the amount by which the price of the Company's ordinary shares has risen
above the grant price at the date of exercise, thus providing holders of SARs
(non-UK employees) the same reward value as if the SARs were share options.
The qualifying conditions and timing of vesting are identical to those within
the share option schemes for UK employees. All SARs are to be settled in cash
when exercised.

 

Certain directors of the Company have been granted options as set out below:

 

 Director         Number of new non-approved options granted  Total options over ordinary shares now held

 Peter Molloy     150,000                                     776,530

 Andrew Mallows   50,000                                      550,682
 Julia Choudhury  100,000                                     266,061
 Colin Rees       100,000                                     335,834
 Tim Harris       100,000                                     266,061

 

Enquiries:

 

 Franchise Brands plc                                          + 44 (0) 1625 507 910
 Stephen Hemsley, Executive Chairman
 Andrew Mallows, Interim Chief Financial Officer
 Julia Choudhury, Corporate Development Director

 Allenby Capital Limited (Nominated Adviser and Joint Broker)  +44 (0) 20 3328 5656
 Jeremy Porter / George Payne (Corporate Finance)

 Amrit Nahal (Sales & Corporate Broking)

 Dowgate Capital Limited (Joint Broker)                        +44 (0) 20 3903 7715
 James Serjeant / Russell Cook / Nicholas Chambers

 Stifel Nicolaus Europe Limited (Joint Broker)                 +44 (0) 20 7710 7699
 Matthew Blawat / Francis North

 MHP Group (Financial PR)                                      +44 (0) 20 3128 8100
 Katie Hunt/Catherine Chapman                                  +44 (0) 7884 494112
                                                               franchisebrands@mhpgroup.com

 

 

The notifications below, which have been made in accordance with the
requirements of the UK Market Abuse Regulation, provides further detail.

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Peter Molloy

                                                                   Andrew Mallows

                                                                   Julia Choudhury

                                                                   Colin Rees

                                                                   Tim Harris
 2    Reason for the notification
 a)   Position/status                                              Directors of Franchise Brands PLC
 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Franchise Brands PLC
 b)   LEI                                                          213800CFRX6CJ8LCKN37
 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  Ordinary shares of 0.5p each in Franchise Brands PLC

      Identification code                                          Identification code (ISIN) for Franchise Brands PLC ordinary shares:
                                                                   GB00BD6P7Y24
 b)   Nature of the transaction                                    Grant of non-approved share options
 c)   Price(s) and volume(s)                                       Exercise price: £1.80

Director         Number of non-approved options granted

                                                                   Peter Molloy     150,000

                                                                   Andrew Mallows   50,000
                                                                   Julia Choudhury  100,000
                                                                   Colin Rees       100,000
                                                                   Tim Harris       100,000
 d)   Aggregated information                                       n/a

      - Aggregated volume

      - Price
 e)   Date of the transaction                                      9 May 2023
 f)   Place of the transaction                                     Outside of a trading venue

d)

Aggregated information

- Aggregated volume

- Price

n/a

e)

Date of the transaction

9 May 2023

f)

Place of the transaction

Outside of a trading venue

 

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