REG - Brown (N.) Group PLC - Director/PDMR Shareholding

N BrownAnnouncement

09/11/2020 07:05

RNS Number : 5821E
  
Brown (N.) Group PLC
  
09 November 2020
  
 

09 November 2020
N BROWN GROUP PLC - GRANT OF NIL COST OPTIONS
N Brown Group plc announces that on 06 November 2020 nil cost options were granted to its Chief Executive Officer, Steve Johnson, over 979,882 shares and its Chief Financial Officer, Rachel Izzard, over 672,468 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 55.3 pence. In deference to the current share price of the Company, the Award has been scaled back by 15%.
The performance conditions and targets for the 2020 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


**Cashflow delivered over 2020/21, 2021/22 and 2022/23




Weighting


 


50%


50%




Below threshold


0%


Ranking below median


Below £121.4m




Threshold*


25%


Ranking at median


At least £121.4m




Maximum*


100%


Ranking at upper quartile or above


At least £191.4m



*For performance that is between the threshold and maximum levels, awards vest on a straight-line basis.
** Cashflow is defined as net cash generated by the business
 
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


979,882


 








 


 


 


 




d) 
 


Aggregated information 


















- Aggregated volume


N/A- single transaction














- Price


















e) 
 


Date of the transaction 
 
 


06 November 2020




f) 
 


Place of the transaction 
 
 


Outside a trading venue



 



1 
 


Details of the person discharging managerial responsibilities / person closely associated 
 




a) 
 


Name 
 
 


Rachel Izzard




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


672,468


 








 


 


 


 




d) 
 


Aggregated information 


















- Aggregated volume


N/A- single transaction














- Price


















e) 
 


Date of the transaction 
 
 


06 November 2020




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 2208
Registered office:
Griffin House
40 Lever Street
Manchester
M60 6ES

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