27 Jul 2017 16:37
27 July 2017
Bonmarché Holdings plc
("Bonmarché" or the "Company")
Grant of Options under the Bonmarché Long Term Incentive Plan ("LTIP")
Bonmarché, one of the UK's largest women's value retailers, announces that, nil-cost options over the Company's ordinary shares of 1.0 pence each ("Ordinary Shares") were granted today to the following Directors of the Company:
Director | Ordinary Shares over which options have been granted |
Helen Connolly | 171,821 |
Stephen Alldridge | 116,838 |
The options granted have a vesting period of three years, may be exercised up to the tenth anniversary of grant, and have no exercise price. Performance conditions apply such that 75% of the award has targets based on EPS performance over three years; and 25% of the awards have targets based on TSR performance over three years. The awards have been granted in the form of tax qualifying LTIP awards and consist of the nil-cost options referred to above and, for each Director set out above, a separate tax qualifying option over 34,364 Ordinary Shares with an exercise price of £0.873 per Ordinary Share. Each tax qualifying option is subject to the same performance conditions and vesting period as apply to the nil-cost options. On the exercise of the nil-cost option and the tax qualifying option, the extent to which the nil-cost option is capable of exercise shall be reduced to take account of the gain made on the exercise of the tax qualifying option to ensure that the pre-tax value delivered to the director is not increased by the grant of the tax qualifying option.
Enquiries: | |||||||||||||
Bonmarché Holdings plc Stephen Alldridge, Finance Director Caroline Farbridge, Company Secretary
| c/o FTI +44 (0)20 3727 1000 | ||||||||||||
FTI Consulting - Communications adviser Jonathon Brill Georgina Goodhew
| +44 (0)20 3727 1000 | ||||||||||||
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| 1 | Details of the person discharging managerial responsibilities / person closely associated |
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| a) | Name | Helen Connolly |
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| 2 | Reason for notification |
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| a) | Position / status | Chief Executive Officer |
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| b) | Initial notification /Amendment | Initial notification |
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| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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| a) | Name | Bonmarché Holdings plc |
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| b) | LEI | 213380022WC23QGTTAF58 |
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| 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 |
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| a) | Description of the financial instrument, type of instrument.
Identification code | Ordinary shares of 1 pence each
GB00BF8H6F45 |
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| b) | Nature of the transaction | Grant of Options under the Bonmarché Long Term Incentive Plan |
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| c) | Price(s) and volumes(s) |
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| d) | Aggregated information - Aggregated volume - Price |
206,185 Nil |
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| e) | Date of the transaction | 27 July 2017 |
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| f) | Place of the transaction | Outside a trading venue |
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1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Stephen Alldridge | ||||||
2 | Reason for notification | |||||||
a) | Position / status | Finance Director | ||||||
b) | Initial notification /Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Bonmarché Holdings plc | ||||||
b) | LEI | 213380022WC23QGTTAF58 | ||||||
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.
Identification code | Ordinary shares of 1 pence each
GB00BF8H6F45 | ||||||
b) | Nature of the transaction | Grant of Options under the Bonmarché Long Term Incentive Plan | ||||||
c) | Price(s) and volumes(s) |
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d) | Aggregated information - Aggregated volume - Price |
151,202 Nil | ||||||
e) | Date of the transaction | 27 July 2017 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||