Last checked at 28 Oct 2020 09:17
28 October 2020
Card Factory plc
("Card Factory" or the "Company")
Notification of Transactions of Directors and Persons Discharging Managerial Responsibilities
Card Factory announces that, in line with the Company's Remuneration Policy (as set out in the Company's 2020 Annual Report and Accounts) and following deferral of grant of awards earlier in 2020, due to the uncertainty arising from the Covid-19 pandemic, options have been granted under the Card Factory plc SAYE Scheme ("SAYE Scheme").
The SAYE Scheme is a UK tax qualified scheme whereby participants can choose to save up to £500 per month over a 3-year period, subject to a cap of £250 per month for each annual award. Pursuant to the SAYE scheme, on 27 October 2020 the Company granted options over 3,648,970 ordinary shares of £0.01 each in the capital of Card Factory plc. The exercise price, which was set in accordance with HM Revenue and Customs rules, is 27.16 pence per share (by applying a 20 percent discount to the 3-day average mid-market quotation from the Daily Official List of the London Stock Exchange, immediately prior to applications being opened on 2 October 2020). Participation in the 2020 SAYE Scheme has been scaled back following oversubscription; however, the Remuneration Committee has increased the number of shares available for this award, taking account of low dilution in previous years under the SAYE Scheme. The options have a contract start date of 1 December 2020 and are exercisable after 1 December 2023. The exercise of options on maturity is not dependent upon performance criteria.
Kristian Lee, Chief Financial Officer of the Company, has participated in the 2020 SAYE Scheme, on the same terms afforded to all UK employees under this scheme, details of which are set out below.
This notification is made in accordance with Article 19 of the Market Abuse Regulation and the Disclosure and Transparency Rules.
Enquiries:
Ciaran StoneGeneral Counsel and Company SecretaryCard Factory plc | Tel: 01924 839150 |
CARD FACTORY PLC
NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
1
| Details of the person discharging managerial responsibilities / person closely associated
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a)
| Name
| Kristian Lee | ||||||||
2
| Reason for the notification
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a)
| Position/status
| Chief Financial Officer | ||||||||
b)
| Initial notification /Amendment
| Initial notification | ||||||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a)
| Name
| Card Factory plc | ||||||||
b)
| LEI
| 213800TTSOPFVCKPFQ11 | ||||||||
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 one pence each GB00BLY2F708
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b)
| Nature of the transaction
| Grant of options under the Card Factory plc SAYE scheme | ||||||||
c)
| Price(s) and volume(s)
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d)
| Aggregated information
|
| ||||||||
e)
| Date of the transaction
| 27 October 2020 | ||||||||
f)
| Place of the transaction
| Outside a trading venue | ||||||||
Name of officer of issuer responsible for making notification: Ciaran Stone Date of notification: 28 October 2020 |