REG - Restaurant Group PLC - Director/PDMR Shareholding

RestaurantAnnouncement

13/04/2021 07:05

RNS Number : 1945V
  
Restaurant Group PLC
  
13 April 2021
  
 

Restaurant Group PLC
13th April 2021
 
 
 
 
The Restaurant Group plc ('the Company')
 
Notification of transactions by directors, persons discharging managerial responsibilities ('PDMRs') and connected persons
On 12 April 2021, the Company made the following conditional awards of nil cost options ('Awards') under The Restaurant Group Restricted Share Plan ('RSP'). Awards have been granted over ordinary shares of 28 1/8 pence each in the share capital of the Company ('Shares') to Directors and Persons Discharging Managerial Responsibility ('PDMR'):




Name 


Job title


Number of Shares under options granted pursuant to RSP Award 




Andy Hornby


Chief Executive Officer


496,062




Kirk Davis


Chief Financial Officer


290,820




 
The above Awards were calculated using a price of 127 pence per Share (being the average of the closing middle market quotations during the period of 5 dealing days ending with the dealing day before the Grant Date).
 
Vesting of all the RSP Awards is subject to the continued employment of participants and satisfaction of the following underpin condition in respect of 100% of an Award: that the Group's underlying performance and delivery against its strategy (which may change in response to cyclical and structural changes over time) is sufficient to justify the level of vesting having regard to such factors as the Remuneration Committee considers to be appropriate in the round. In normal circumstances, such factors will include the Company's financial performance, balance sheet strength and performance against environmental, social and corporate governance priorities set by the Remuneration Committee from time to time. 
A second underpin condition also applies in respect of 50% of an Award: that EBITDA in 2023 is at least £100m (with EBITDA assessed by the Committee on such basis as it considers reasonable and adjusted for material acquisitions and disposals).
The Awards will normally vest (subject to the underpin conditions outlined above) in full after 3 years. Awards held by the Executive Directors will also be subject to a 2-year holding period ending on the 5th anniversary of the grant. During that period, the Executive Directors will ordinarily be required to retain the net of tax number of vested Shares.
 
The Awards were made in accordance with the Company's remuneration policy.


The relevant notifications set out below is provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation. 
 




1.


Details of PDMR / person closely associated with them ("PCA")




a)


Name


1.   Andy Hornby
2.   Kirk Davis




2.


Reason for the notification




a)


Position / status 


1.   Chief Executive Officer
2.   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


The Restaurant Group plc




b)


LEI


213800V4LJ2FXMQKKA46




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 £0.28125 each
ISIN Code: GB00B0YG1K06
 




b)


Nature of the transaction


Awards over shares granted pursuant to The Restaurant Group Restricted Share Plan.




c) 


Price(s) and volume(s)






Price(s)


Volume(s)




1.   Nil consideration
2.   Nil consideration


1. 496,062
2. 290,820




 




d)


Aggregated information 
Aggregated volume 
Price 


N/A (single transactions)




e) 


Date of the transaction


12 April 2021




f)


Place of the transaction 


Outside a trading venue




 
For further details please contact:




MHP Communications (Financial PR adviser)
Oliver Hughes
Simon Hockridge


Tel: +44(0) 7885 224 532 / +44(0) 7709 496 125
      




 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
  END
 
 
DSHBSGDSRUBDGBD