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Last checked at 
10 Jun 2022 07:00
C&C Group plc
('C&C')
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2022 Long Term Incentive Plan ('LTIP') Awards
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On 9 June 2022, the Company's Executive Directors were granted the following awards under the LTIP, in the form of nil cost options over ā¬0.01 ordinary shares in the Company:
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Name | Number of shares Ā |
David Forde | 458,023 |
Patrick McMahon | 278,796 |
1Ā Calculated using a share price of Ā£2.00 (being the mid-market closing price on the day before grant) converted into ā¬2.3388 using an exchange rate of Ā£1: ā¬1.1694.
The awards will vest subject to the satisfaction of performance metrics based on Earnings per Share, Free Cash Flow and an Environmental metric assessed across the three-year performance period FY2023 - FY2025.
The vesting of the awards will be subject to an assessment of the Company's underlying financial performance across the three-year performance period. No award will vest until the end of the full three-year period, and Executive Directors' awards will then be subject to a further two-year holding period.
The details of the performance metrics for the awards are set out below.
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Performance conditions
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Measure Ā | Weighting | Further detail |
Earnings per share | 45% | Threshold - 22.2c Maximum - 26.0c Ā By the end of year 3 target range (end of FY25) rather than as a cumulative target. Ā |
Free cash flow Ā | 35% | Threshold - 65% Ā Maximum - 75% Ā By the end of year 3 target range (end of FY25) rather than as a cumulative target. Ā |
Environmental | 20% | To give impetus to C&C's de-carbonisation efforts, the Company has set a target to reduce its Scope 1 and Scope 2 emissions* over the next three financial years ending FY2025. Ā Threshold - 6% reduction Ā Maximum - 12% reduction Ā |
*Scope 1: direct emissions from owned or controlled sources, which includes emissions from company-owned or operated facilities and vehicles.
Scope 2: indirect emissions from the generation of purchased energy e.g. electricity, steam, heat and cooling.
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In each case, threshold vesting will be 25% of the maximum.
Notification of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them
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Ā This form is required for disclosure of transactions under Article 19 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation)
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1 | Details of the person discharging managerial responsibilities/person closely associated Ā | |||||
a) | Name | David Forde Ā | ||||
2 | Reason for the notification Ā | |||||
a) | Position/status | Person discharging managerial responsibilities (Chief Executive Officer) | ||||
b) | Initial Notification Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | C&C Group plc | ||||
b) | LEI | 635400LNUHA2LDXXV850 Ā | ||||
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 ā¬0.01 each Ā ISIN: IE00B010DT83 | ||||
b) | Nature of the transaction | Grant of options under the C&C 2015 Long Term Incentive Plan Ā | ||||
c) | Price(s) and volume(s) | Ā
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d) | Aggregated information - Aggregated volume - Price | Same as c) Ā | ||||
e) | Date of the transaction | 09/06/2022 Ā | ||||
f) | Place of the transaction | Outside a trading venue Ā | ||||
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Notification of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them
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Ā This form is required for disclosure of transactions under Article 19 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation)
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1 | Details of the person discharging managerial responsibilities/person closely associated Ā | |||||
a) | Name | Patrick McMahon Ā | ||||
2 | Reason for the notification Ā | |||||
a) | Position/status | Person discharging managerial responsibilities (Chief Financial Officer) | ||||
b) | Initial Notification Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | C&C Group plc | ||||
b) | LEI | 635400LNUHA2LDXXV850 Ā | ||||
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 ā¬0.01 each Ā ISIN: IE00B010DT83 | ||||
b) | Nature of the transaction | Grant of options under the C&C 2015 Long Term Incentive Plan Ā | ||||
c) | Price(s) and volume(s) | Ā
| ||||
d) | Aggregated information - Aggregated volume - Price | Same as c) Ā | ||||
e) | Date of the transaction | 09/06/2022 Ā | ||||
f) | Place of the transaction | Outside a trading venue Ā | ||||
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