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26 Apr 2017 12:17
26 April 2017
A.G. BARR p.l.c.
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
LTIP Award - 25 April 2017
On 25 April 2017 A.G. BARR p.l.c. ("A.G. BARR" or the "Company") granted awards in the form of nil-cost options over ordinary shares in the Company under the A.G. BARR p.l.c. Long Term Incentive Plan (the "LTIP") to R A White, S Lorimer, J D Kemp and A L Memmott, as noted below.
R A White, J D Kemp and A L Memmott were also granted an award in the form of a tax qualifying option under the A.G. BARR p.l.c. Executive Share Option Scheme 2011 (the "ESOS").
Name | Role | Number of ordinary shares under option | Exercise price |
R A White | CEO | 91,086 (LTIP option) 4,830* (ESOS option) | Nil £6.21 per share |
S Lorimer | Finance Director | 53,818 (LTIP option) | Nil |
J D Kemp | Commercial Director | 47,763 (LTIP option) 4,830* (ESOS option) | Nil £6.21 per share |
A L Memmott | Supply Chain Director | 42,542 (LTIP option) 4,830* (ESOS option) | Nil £6.21 per share |
*If the option under the ESOS is exercised at a gain, the LTIP awards will be reduced by the same value to ensure that the aggregate pre-tax value delivered to the participant remains the same as would have been the case had only the LTIP award been granted.
Under the rules of the LTIP, the vesting of the awards is subject to the achievement of the following EPS performance condition:
% linked to award | Threshold vesting at 20% of the maximum award | Maximum vesting at 100% of the maximum award | |
Cumulative EPS for 2017/18, 2018/19 and 2019/20 | 100% | 90.0p | 102.0p |
There is straight-line vesting between the points and no reward below threshold performance. Ordinarily, the awards will vest (subject to the achievement of the performance condition) on 25 April 2020.
This notification is made pursuant to Disclosure Guidance and Transparency Rule 3.1.4.
Enquiries:
Julie A. Barr
Company Secretary
A.G. BARR p.l.c.
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