REG - Brown (N.) Group PLC - Director/PDMR Shareholding
RNS Number : 1798LBrown (N.) Group PLC04 September 201904 September 2019
N BROWN GROUP PLC - GRANT OF NIL COST OPTIONS
N Brown announces that on 03 September 2019 nil cost options were granted to its Chief Executive Officer, Steve Johnson, over 601,983 shares and its Chief Financial Officer, Craig Lovelace, over 429,292 shares ("Awards") under the terms of the N Brown Group plc 2014 Long-Term Incentive Plan.
The number of shares placed under Award was based on the closing mid-market price for the preceding day which was 105.9 pence.
The performance conditions and targets for the 2019 Awards are as follows:
Percentage of each part of the award that will vest
TSR
Relative TSR compared to the FTSE SmallCap Excluding Investment Trusts
EPS
Growth from the 2018/19 EPS to 2021/22
FCF
Based on the aggregate of the free cash flow delivered over 2019/20, 2020/21 and 2021/22
Weighting
35%
35%
30%
Below threshold
0%
Ranking below median
Less than CAGR +5%
Less than £350m
Threshold*
25%
Ranking at median
At least CAGR +5%
At least £350m
Maximum*
100%
Ranking at upper quartile or above
At least CAGR +15%
At least £420m
*For performance that is between the threshold and maximum levels, awards vest on a straight-line basis.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Stephen Johnson
2
Reason for the notification
a)
Position/status
CEO, N Brown Group Plc
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
N Brown Group Plc
b)
LEI
213800QFPJQF2NUVAP09
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
Nil cost options over Ordinary shares of 11 1/19 pence
Identification code
GB00B1P6ZR11
b)
Nature of the transaction
Grant of options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil cost options
601,983
d)
Aggregated information
- Aggregated volume
N/A- single transaction
- Price
e)
Date of the transaction
03 September 2019
f)
Place of the transaction
Outside a trading venue
1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Craig Lovelace
2
Reason for the notification
a)
Position/status
CFO, N Brown Group Plc
b)
Initial notification /Amendment
Initial Notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
N Brown Group Plc
b)
LEI
213800QFPJQF2NUVAP09
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
Nil cost options over Ordinary shares of 11 1/19 pence
Identification code
GB00B1P6ZR11
b)
Nature of the transaction
Grant of options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil cost options
429,292
d)
Aggregated information
- Aggregated volume
N/A- single transaction
- Price
e)
Date of the transaction
03 September 2019
f)
Place of the transaction
Outside a trading venue
For enquiries, please contact: Theresa Casey, Company Secretary and General Counsel, N Brown Group Plc
Tel: +44 (0)161 238 2298
Registered office:
Griffin House
40 Lever Street
Manchester
M60 6ES
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.ENDDSHGIGDCSGGBGCS
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