REG - Brown (N.) Group PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">BWNG.L</Origin>

N BrownAnnouncement

12/08/2016 10:00

RNS Number : 0471H
Brown (N.) Group PLC
12 August 2016
N Brown Group plc
("N Brown" or the "Company")
Grant of nil cost options

N Brown announces that on 10th August 2016 nil cost options were granted to its Chief Executive, Angela Spindler over 472,063 shares and its Group Chief Financial Officer, Craig Lovelace over 243,125 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 172.75 pence.
The performance conditions and targets for the 2016 awards are therefore as follows:

Percentage of each part of the award that will vest
Annual growth in adjusted EPS in excess of RPI over 3 financial years
Free cashflow is defined as cashflow generated from operations excluding receivables.
Targets are cumulative over 3 financial years
Annual growth in total revenue over 3 financial years
Weighting

50%
30%
20%
Below threshold
0%
Less than RPI +2.5%
Less than 370m
Less than 5% CAGR
Threshold*
25%
At least RPI +2.5%
At least 370m
At least 5% CAGR
Maximum*
100%
At least RPI +9%
At least 450m
At least 9% CAGR
*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
Angela Spindler
2
Reason for the notification
a)
Position/status
Chief Executive
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

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
Identification code
Nil cost options over Ordinary Shares of 11 1/19 pence
ISIN: GB00B1P6ZR11
b)
Nature of the transaction
Grant of options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil Cost Options
472,063
d)
Aggregated information
- Aggregated volume
- Price

N/A - single transaction
e)
Date of the transaction
10 August 2016
f)
Place of the transaction
London Stock Exchange, Main Market


1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Craig Lovelace
2
Reason for the notification
a)
Position/status
Group Chief Financial Officer
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

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
Identification code
Nil cost options over Ordinary Shares of 11 1/19 pence
ISIN: GB00B1P6ZR11
b)
Nature of the transaction
Grant of options
c)
Price(s) and volume(s)
Price(s)
Volume(s)
Nil Cost Options
243,125
d)
Aggregated information
- Aggregated volume
- Price

N/A - single transaction
e)
Date of the transaction
10 August 2016
f)
Place of the transaction
London Stock Exchange, Main Market
- Ends -
 For further information:
ENQUIRIES: Daniel Cropper0161 238 2726

This information is provided by RNS
The company news service from the London Stock Exchange
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