10 Jun 2022 07:00
10 June 2022
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 10 June 2022 the Company granted awards (in the form of nominal cost options) over 1,000,000 ordinary shares of 1p each ("Ordinary Shares") to certain Directors and employees of the Company (the "Options").
The Options have been granted under the Company's Long Term Incentive Plan, are exercisable in 2025 following release of the Company's audited accounts for the year ended 31 December 2024, are subject to performance conditions relating to the Company's EBITDA profitability (pre-IFRS 16) and have a 10-year term.
The Company also announces that on 10 June 2022 it granted additional new options to Holly Elliott and Chris Merriman over 33,333 and 8,333 Ordinary Shares respectively under The Company's Share Option Plan (the "CSOPs"). The CSOPs have an exercise price of £0.90, will vest after 3 years and have a 10-year term.
Details of the Options and CSOPs granted to the PDMRs of the Company are set out in the table below together with further information required under the Market Abuse Regulation in respect of PDMR dealings at the end of this announcement.
Name | Position | Number of shares subject to the Options and CSOPs granted |
Clive Watson | Executive Chairman | 200,000 |
Holly Elliott | Chief Financial Officer | 233,333 |
Toby Smith | Chief Operating Officer | 200,000 |
Rupert Clark | Managing Director | 200,000 |
Chris Merriman | Financial Controller | 58,333 |
Following the grant of the Options and CSOPs, there are options over a total of 9,001,666 Ordinary Shares in the Company, representing 8.5 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.
1. | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Clive Watson | |
2. | Reason for the Notification | ||
a) | Position/status | Executive Chairman | |
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 | 200,000 | ||
d) | Aggregated information: ·Aggregated volume ·Price | Single transaction as in 4c) above 200,000 Nil | |
e) | Date of the transaction | 10 June 2022 | |
f) | Place of the transaction | Outside a trading venue | |
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 | 200,000 | ||
Exercise price of £0.90 | 33,333 | ||
d) | Aggregated information: ·Aggregated volume ·Price |
233,333 n/a | |
e) | Date of the transaction | 10 June 2022 | |
f) | Place of the transaction | Outside a trading venue | |
1. | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Toby Smith | |
2. | Reason for the Notification | ||
a) | Position/status | Chief Operating 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 | 200,000 | ||
d) | Aggregated information: ·Aggregated volume ·Price | Single transaction as in 4c) above 200,000 Nil | |
e) | Date of the transaction | 10 June 2022 | |
f) | Place of the transaction | Outside a trading venue | |
1. | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Rupert Clark | |
2. | Reason for the Notification | ||
a) | Position/status | Managing Director | |
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 | Interests in ordinary shares of 1p each under the Company's Joint Share Ownership Plan | |
Identification code | GB00BYWRS683 | ||
b) | Nature of the transaction | Grant of options | |
c) | Price(s) and volume(s) | Price | Volume |
Nil | 200,000 | ||
d) | Aggregated information: ·Aggregated volume ·Price | Single transaction as in 4c) above 200,000 Nil | |
e) | Date of the transaction | 10 June 2022 | |
f) | Place of the transaction | Outside a trading venue | |
1. | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Chris Merriman | |
2. | Reason for the Notification | ||
a) | Position/status | Financial Controller | |
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 | 50,000 | ||
Exercise price of £0.90 | 8,333 | ||
d) | Aggregated information: ·Aggregated volume ·Price |
58,333 n/a | |
e) | Date of the transaction | 10 June 2022 | |
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 / Kane Collings
| Tel: +44 20 3100 2000 | |
Peel Hunt (Joint Broker) George Sellar / Andrew Clark
| Tel: +44 20 3128 8789 | |
Instinctif Partners Matthew Smallwood | Tel: +44 20 7457 2020 | |