Last checked at 9 Nov 2020 07:00
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) |
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|
|
|
| Price(s) | Volume(s) |
| ||
| Nil cost options | 653,672 |
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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