22 Dec 2021 07:00
22 December 2021
The City Pub Group plc
("The City Pub Group" or the "Company")
Grant of Options and Director / PDMR Shareholdings
The City Pub Group plc announces that on 21 December 2021 the Company granted awards (in the form of nominal cost options) over 400,000 ordinary shares of 1p each ("Ordinary Shares") to Holly Elliott, Chief Financial Officer (the "Options").
The Options have been granted under the Company's Long Term Incentive Plan, are exercisable in 2024 following release of the Company's audited accounts for the year ended 31 December 2023, are subject to performance conditions relating to the Company's EBITDA profitability (pre-IFRS 16) and have a 10-year term.
Concurrent to the grant of the Options, a former Director of the Company has relinquished their interest, for no consideration, in 400,000 Ordinary Shares under the Company's Long Term Incentive Plan. There remain options over a total of 7,960,000 Ordinary Shares in the Company, representing 7.5 per cent. of the Company's current issued share capital. In addition, there are 675,000 Ordinary Shares held in the Company's employee benefit trust ("EBT") that are subject to outstanding JSOP awards, as well as a further 1,250,000 unallocated Ordinary Shares in the EBT (together the "JSOP Shares") that would be available to satisfy any outstanding options under the LTIP or the Company's Company Share Option Plan. The aggregate 1,925,000 JSOP Shares do not have voting rights.
The information set out below is provided in accordance with the requirements of Article 19 of the Market Abuse Regulation:
1. | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Holly Elliott | |
2. | Reason for the Notification | ||
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 | ||
a) | Name | The City Pub Group plc | |
b) | LEI | 213800OHELCFJ6GLZC03 | |
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 | Options over Ordinary Shares of 1p each | |
Identification code | GB00BYWRS683 | ||
b) | Nature of the transaction | Grant of options | |
c) | Price(s) and volume(s) | Price | Volume |
Nil | 400,000 | ||
d) | Aggregated information: ·Aggregated volume ·Price | Single transaction 400,000 Nil | |
e) | Date of the transaction | 21 December 2021 | |
f) | Place of the transaction | Outside a trading venue | |
Enquiries:
The City Pub Group Clive Watson, Chairman Holly Elliott, CFO
| Tel: +44 20 7559 5106 |
Liberum (Nomad & Joint Broker) Chris Clarke / Edward Thomas / Clayton Bush
| Tel: +44 20 3100 2000 |
Instinctif Partners Matthew Smallwood
Peel Hunt (Joint Broker) George Sellar Andrew Clark Will Bell
| Tel: +44 20 7457 2020 |
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