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

N BrownAnnouncement

09/11/2020 07:05

RNS Number : 5822E
  
Brown (N.) Group PLC
  
09 November 2020
  
 

09 November 2020
N BROWN GROUP PLC - GRANT OF NIL COST OPTIONS
N Brown Group plc (the "Company") announces that on 06 November 2020 nil cost options were granted to its Chief Financial Officer, Rachel Izzard, over 653,672 shares ("Awards") under the terms of the N Brown Group plc 2014 Long-Term Incentive Plan.
The Awards have been made to Rachel Izzard to compensate for awards forfeited upon leaving her former employer, Aer Lingus, part of the IAG Group.
The Awards will have the same vesting dates and the same performance conditions as the awards forfeited. The number of N Brown shares subject to the awards has been determined by taking the value of the IAG shares forfeited on the date of joining N Brown and the value of an N Brown share on the same date.
The performance conditions and targets for the Awards are as follows:



 


Vesting date


N Brown shares
(based on the share price of 14.74p on 6 April 2020)


Performance conditions to determine vesting




2018 IAG Group PSP Award


08/03/2021


170,998


The same performance conditions that determine the vesting of the 2018 IAG Group PSP Award




2019 IAG Group PSP Award


04/03/2022


482,674


The same performance conditions that determine the vesting of the 2019 IAG Group PSP Award



 
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 
 
 


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


653,672


 








 


 


 


 




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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