REG - Marston's Plc - Director/PDMR Shareholding

Marston'sAnnouncement

28/03/2024 15:00

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RNS Number : 7747I  Marston's PLC  28 March 2024

28 March 2024

 

Notification of interests of directors and persons discharging managerial
responsibilities

 

Marston's PLC (the "Company") announces that on 28 March 2024 the Directors
listed below were granted nil-cost options over ordinary shares in the Company
under the Company's Long Term Incentive Plan ("Nil-Cost Options").

 

The Nil-Cost Options are in addition to certain nil-cost options granted to
the Directors on 4 March 2024, which were granted over fewer shares than
intended. The Nil-Cost Options which are the subject of this notification were
therefore granted over such number of shares as was necessary to put the
Directors in materially the same position as had the nil-cost options granted
on 4 March 2024 been granted over the correct number of shares (and the number
of shares over which the Nil-Cost Options have been granted has therefore also
been calculated using the market price at the close of trading on the London
Stock Exchange on 4 March 2024, being £0.2925 per ordinary share, save for
the award granted to Hayleigh Lupino, where a notional share price of 33p was
used to reflect the Remuneration Committee's decision to grant her an award
over shares worth 125% of her base salary when the share price was 33p (which
has decreased since that decision)).

 

Performance Metrics

 

Nil-Cost Options will vest to the extent performance conditions are satisfied
as set out below:

 

 Measure                                                              Weighting  Threshold (25% vest)  Maximum (100% vest)
 Underlying PBT in 2026(1)                                            20%        £75m                  £95m
 Net cash flow(2) (2024, 2025 and 2026 aggregate)                     40%        £150m                 £180m
 Operating Margin in 2026                                             20%        16.3%                 18.3%
 Relative Total Shareholder Return (TSR) (measured over FY2023/24 to  20%        Median                Upper quartile
 FY2025/2026)

1. Underlying PBT: exclusive of income from associates.

2. Net cash inflow/(outflow) as per the Net Debt note to the financial
statements.

3. Straight-line vesting applies between Threshold and Maximum.

 

To the extent the performance metrics are met, a Nil-Cost Option will be
released following the end of a further two-year holding period.

 

Enquiries:

Bethan Raybould, General Counsel & Company Secretary, Marston's PLC, +44
(0) 1902 907250

 

 

Notification of Dealing Form

 

 1.  Details of the Person Discharging Managerial Responsibility ("PDMR")/person
     closely associated with them ("PCA")
 a)  Name                                     Justin Platt

 2.  Reason for the notification
 a)  Position/status                          Director and PDMR (Chief Executive Officer)

 b)  Initial notification/ amendment          Initial Notification
 3.  Details of the Issuer
 a)  Name                                     Marston's PLC
 b)  LEI code                                 213800Q6RP3ZJ2CZR962
 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  Ordinary Shares of 7.375 pence each

     Identification code

                                              ISIN: GB00B1JQDM80
 b)  Nature of the transaction                Grant of a nil-cost option under the Marston's PLC Long Term Incentive Plan.

 c)  Price(s) and volumes(s)

Price                 Volume
                                              Nil-cost option: N/A  205,128
 d)  Aggregated information

     -   Aggregate volume                     205,128

     -   Price                                N/A

 e)  Date of the transaction                  28-03-2024
 f)  Place of the transaction                 Outside a trading venue

d)

Aggregated information

-   Aggregate volume

 

-   Price

 

205,128

 

N/A

 

e)

Date of the transaction

28-03-2024

f)

Place of the transaction

Outside a trading venue

 

 

 

 1.  Details of the Person Discharging Managerial Responsibility ("PDMR")/person
     closely associated with them ("PCA")
 a)  Name                                     Hayleigh Lupino

 2.  Reason for the notification
 a)  Position/status                          Director and PDMR (Chief Financial Officer)

 b)  Initial notification/                    Initial Notification

     amendment
 3.  Details of the Issuer
 a)  Name                                     Marston's PLC
 b)  LEI code                                 213800Q6RP3ZJ2CZR962
 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  Ordinary Shares of 7.375 pence each

     Identification code

                                              ISIN: GB00B1JQDM80
 b)  Nature of the transaction                Grant of a nil-cost option under the Marston's PLC Long Term Incentive Plan.

 c)  Price(s) and volumes(s)

Price                 Volume
                                              Nil-cost option: N/A  205,128
 d)  Aggregated information

     -   Aggregate volume                     205,128

     -   Price                                N/A

 e)  Date of the transaction                  28-03-2024
 f)  Place of the transaction                 Outside a trading venue

d)

Aggregated information

-   Aggregate volume

 

-   Price

 

205,128

 

N/A

 

e)

Date of the transaction

28-03-2024

f)

Place of the transaction

Outside a trading venue

 

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