REG - Virgin Wines UK PLC - Grant of Options - Director/PDMR Shareholding

Virgin Wines UKAnnouncement

07/12/2022 12:30

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RNS Number : 9398I  Virgin Wines UK PLC  07 December 2022

7 December 2022

Virgin Wines UK plc

 

("Virgin Wines", the "Company" or the "Group")

Grant of Options - Director/PDMR Shareholding

Virgin Wines UK plc (AIM: VINO), one of the UK's largest direct-to-consumer
online wine retailers announces that on 6 December 2022, under the terms of
the Company's long term incentive plan ("LTIP"), the Board has approved the
award of and granted Performance Share Awards ("PSA") and Restricted Share
Awards ("RSA") comprising nominal cost options over a total number of
1,269,021 ordinary shares of one penny each in the Company (the "Ordinary
Shares") to the following directors and persons discharging managerial
responsibilities (the "Options"):

 Director/ PDMR  Position                PSA Options granted  RSA Options granted
 Jay Wright      CEO                     346,233              -
 Graeme Weir     CFO                     264,396              -
 Gareth Nutt     CTO                     196,408              -
 Jon Shannon     Commercial Director     102,225              34,173
 Amanda Cherry   Head of Group Finance   109,032              62,200
 Ian Long        Director of Wine Sales  125,903              28,451

The PSA Options have been granted subject to continued employment and
performance conditions based on the Company's revenue and EBITDA over a
three-year performance period to 30 June 2025. The PSA Options will vest from
6 December 2025 (the "Option Period") and will be exercisable at the end of
the Option Period until 6 December 2032.

The RSA Options have been granted subject to continued employment and
achievement of a personal performance condition. Subject to those conditions,
the RSA Options will vest 50% on 6 December 2023 and 50% on 6 December 2024
and will be exercisable until 6 December 2032.

All the Options have an exercise price of one penny per ordinary share.

The Board believes it is key that the Group incentivise and retain directors
and senior managers to drive the business forward, whilst aligning their
interests with those of shareholders.

Enquiries:

 Virgin Wines UK plc                   Via Hudson Sandler
 Jay Wright, CEO

 Graeme Weir, CFO

 Liberum Capital Limited               Tel: +44 20 3100 2222

 (Nominated Adviser and Sole Broker)
 Clayton Bush

 Edward Thomas

 John Fishley

 Lucas Bamber

 Hudson Sandler                        virginwines@hudsonsandler.com (mailto:virginwines@hudsonsandler.com)

 (Public Relations)                    Tel: +44 20 7796 4133
 Alex Brennan

 Dan de Belder

 Charlotte Cobb

 Harry Griffiths

 

The information set out below is provided in accordance with the requirements
of Article 19(3) of the EU Market Abuse Regulation No 596/2014 (as it forms
part of domestic law by virtue of the European Union (Withdrawal) Act 2018).

 1    Details of the person discharging managerial responsibilities/person closely
      associated
 a)   Name                                                         1.   JAY WRIGHT

                                                                   2.   GRAEME WEIR

                                                                   3.   GARETH NUTT

                                                                   4.   JON SHANNON

                                                                   5.   AMANDA CHERRY

                                                                   6.   IAN LONG
 2    Reason for the notification
 a)   Position/status                                              1.   CEO

                                                                   2.   CFO

                                                                   3.   CTO

                                                                   4.   COMMERCIAL DIRECTOR

                                                                   5.   FINANCIAL CONTROLLER

                                                                   6.   DIRECTOR OF WINE SALES
 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction
      platform, auctioneer or auction monitor
 a)   Name                                                         Virgin Wines UK plc

 b)   LEI                                                          2138002RL2S1UV7CK716

 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  Ordinary Shares of 1 penny each

      Identification code

                                                                   ISIN: GB00BN33TR63
 b)   Nature of the transaction                                    Awards made pursuant to the Virgin Wines Long Term Incentive Plan

 c)   Price(s) and volume(s)                                       Price(s)                              Volume(s)

      1.   Nil consideration                                                                          1.   346,233

      2.   Nil consideration                                                                          2.   264,396

      3.   Nil consideration                                                                          3.   196,408

      4.   Nil consideration                                                                          4.   136,398

      5.   Nil consideration                                                                          5.   171,232

      6.   Nil consideration                                                                          6.   154,354
 d)   Aggregated information

       - Aggregated volume                                         1,269,021

       - Price                                                     Nil consideration

 e)   Date of the transaction                                      1.   6 December 2022

                                                                   2.   6 December 2022

                                                                   3.   6 December 2022

                                                                   4.   6 December 2022

                                                                   5.   6 December 2022

                                                                   6.   6 December 2022
 f)   Place of the transaction                                     Outside a trading venue

 

Notes to editors:

 

Virgin Wines is one of the UK's largest direct-to-consumer online wine
retailers. It is an award-winning business which has a reputation for
supplying and curating high quality products, excellent levels of customer
service and innovative ways of retailing.

The Company, which is headquartered in Norwich, UK, was established in 2000 by
the Virgin Group and was subsequently acquired by Direct Wines in 2005 before
being bought out by the Virgin Wines management team, led by CEO Jay Wright
and CFO Graeme Weir, in 2013. It listed on the London Stock Exchange's
Alternative Investment Market (AIM) in 2021.

Virgin Wines has more than 700 wines, 100 spirits and 250 beers in its
portfolio which it sells to an active customer base of 186,000 members. It has
approximately 200 employees and more than 40 trusted winemaking partners and
suppliers around the world.

The Company drives the majority of its revenue though its fast-growing
WineBank subscription scheme, using a variety of marketing channels, as well
as through its Wine Advisor team, Wine Plan channel and Pay As You Go service.
It partners with more than 350 trusted brands through its strategic and
commercial partnerships.

Along with its extensive range of award-winning products, Virgin Wines was
delighted to be named Online Drinks Retailer of the Year for 2022 at this
year's Drinks Retailing Awards, as well as receiving the bronze award for
Contact Centre of the Year at the 2022 UK National Contact Centre Awards.

https://www.virginwinesplc.co.uk/

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