25 Jan 2018 07:00
25 January 2018
The City Pub Group plc
(The "City Pub Group" or the "Company")
EBT, Grant of Options and Total Voting Rights
The City Pub Group announces that further to details included in the Company's AIM Admission Document it has established an Employee Benefit Trust ("EBT"), the trustee of which, Estera Trust (Jersey) Limited, has been issued with 1,925,000 ordinary shares of 50 pence per share ("Ordinary Shares") in the Company (the "JSOP Shares"), equivalent to approximately 3.4 per cent. of the Company's current issued share capital. The JSOP Shares will be held jointly by the EBT and certain directors and employees under the terms of the Company's Joint Share Ownership Plan. No price was paid by the directors and employees for their interest in the JSOP Shares. The exercise price of the JSOP Shares is £2.05 per Ordinary Share and they will vest after three years. There will be no voting rights attached to the JSOP Shares prior to vesting.
In addition, certain employees of the Company have been granted new options in relation to a total of 922,500 Ordinary Shares under The City Pub Group plc Company Share Option Plan (the "CSOPs"). The CSOPs have an exercise price of £1.70, will vest after three years and have a 10 year term.
Following the issue of the JSOP Shares and the grant of CSOPs, the Company has 3,890,000 outstanding options and JSOP Shares in total, representing approximately 6.9 per cent. of the existing issued share capital of the Company. Further options or share awards may be made at the discretion of the Company, up to an aggregate limit under existing authorities of 10 per cent. of the issued share capital of the Company immediately following the Company's admission to AIM, being a further 1,756,733 Ordinary Shares.
Application will be made for the JSOP Shares, which will rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading on AIM. It is expected that admission will become effective and that trading in the JSOP Shares will commence on or around 30 January 2018 ("Admission").
In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the Company hereby announces that following Admission it will have 58,392,333 Ordinary Shares in issue, none of which are held in treasury. The total number of voting rights in the Company is 56,467,333. The above figure of 56,467,333 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
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 |
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a) | Name | Clive Watson | Rupert Clark | Alex Derrick | Tarquin Williams | Chris Merriman | Jessica Nantimba |
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2. | Reason for the Notification |
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a) | Position/ status | Executive Chairman | Managing Director | Managing Director | Chief Financial Officer | Management Accountant | FinancialController |
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b) | Initial notification/ Amendment | Initial notification | Initial notification | Initial notification | Initial notification | Initial notification | 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 | The City Pub Group plc | The City Pub Group plc | The City Pub Group plc | The City Pub Group plc | The City Pub Group plc | The City Pub Group plc |
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b) | LEI | 213800OHELCFJ6GLZC03 | 213800OHELCFJ6GLZC03 | 213800OHELCFJ6GLZC03 | 213800OHELCFJ6GLZC03 | 213800OHELCFJ6GLZC03 | 213800OHELCFJ6GLZC03 |
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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 | Ordinary Shares of 50p each | Ordinary Shares of 50p each | Ordinary Shares of 50p each | Ordinary Shares of 50p each | Ordinary Shares of 50p each | Ordinary Shares of 50p each |
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Identification code | GB00BYWRS683 | GB00BYWRS683 | GB00BYWRS683 | GB00BYWRS683 | GB00BYWRS683 | GB00BYWRS683 |
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b) | Nature of the transaction | Award of JSOP Shares | Award of JSOP Shares | Award of JSOP Shares | Award of JSOP Shares | Award of JSOP Shares | Award of JSOP Shares |
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c) | Price(s) and volume(s) | Price | Volume | Price | Volume | Price | Volume | Price | Volume | Price | Volume | Price | Volume | |
N/A | 400,000 | N/A | 400,000 | N/A | 400,000 | N/A | 400,000 | N/A | 25,000 | N/A | 25,000 | |||
d) | Aggregated information: Aggregated volume Price | Single transaction as in 4c) above 400,000 N/A | Single transaction as in 4c) above 400,000 N/A | Single transaction as in 4c) above 400,000 N/A | Single transaction as in 4c) above 400,000 N/A | Single transaction as in 4c) above 25,000 N/A | Single transaction as in 4c) above 25,000 N/A |
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e) | Date of the transaction | 25 January 2018 | 25 January 2018 | 25 January 2018 | 25 January 2018 | 25 January 2018 | 25 January 2018 |
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f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | London Stock Exchange, AIM Market (XLON) | London Stock Exchange, AIM Market (XLON) | London Stock Exchange, AIM Market (XLON) | London Stock Exchange, AIM Market (XLON) | London Stock Exchange, AIM Market (XLON) |
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Enquiries
The City Pub Group Clive Watson, Executive Chairman Tarquin Williams, CFO
| via Instinctif Partners |
Liberum (Nomad and Joint Broker) Chris Clarke / Jill Li / Clayton Bush
| Tel: +44 20 3100 2222 |
Berenberg (Joint Broker) Chris Bowman / Toby Flaux / Marie Stolberg
| Tel: +44 20 3207 7800
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Instinctif Partners Matthew Smallwood / Guy Scarborough | Tel: +44 20 7457 2020 |