10 Feb 2017 14:00
Ei Group plc (the "Company")
Director/PDMR Shareholding
10 February 2017
Grant of LTIP awards.
The Company confirms that on 9 February 2017 it granted to each of its executive directors an award (structured as a nil-cost option) under the rules of the Enterprise Inns 2015 Long Term Incentive Plan (the "LTIP"). The awards, which have been granted in respect of the financial year beginning on 1 October 2016, are over the following maximum numbers of ordinary shares in the Company (the "Shares"):
Name/Position | Maximum number of Shares |
W S Townsend - Chief Executive Officer | 829,285 |
N R Smith - Chief Financial Officer | 676,822 |
The vesting of each award is subject to the satisfaction of performance conditions based on the Company's Total Shareholder Return (relative to the Total Shareholder Return of the companies in a comparator group consisting of companies in the FTSE 250 Index, excluding investment trusts), average Return on Capital Employed and cumulative Free Cash Flow, in each case measured over a performance period comprising the Company's 2016/2017, 2017/2018 and 2018/2019 financial years.
Subject to the satisfaction of the performance conditions, and to the assessment of the Remuneration Committee that the Company's underlying financial performance over the performance period supports the level of vesting, the awards will normally vest and become exercisable as to one third of the Shares on the date on which the Remuneration Committee determines the extent to which the performance conditions are satisfied, one third on the first anniversary of that determination and the final third on the second anniversary of that determination. The awards will then remain exercisable until the tenth anniversary of the date of grant.
Total Shares held.
The total number and percentage of Shares beneficially held by the executive directors is as follows:
| Name/Position | Total holding and % of issued Shares (excluding treasury) | Name/Position | Total holding and % of issued Shares (excluding treasury) | |
| W S Townsend Chief Executive Officer | 1,285,000 0.27% | N R Smith Chief Financial Officer | 500,000 0.10% | |
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Public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
Notification of Dealing Form
1 | Details of the person discharging managerial responsibility /person closely associated with them. | ||
a) | Name | W S Townsend | |
2 | Reason for the notification | ||
a) | Position/status | CEO | |
b) | Initial Notification/Amendment | Initial Notification | |
3 | Details of the issuer | ||
a) | Name | Ei Group plc | |
4 | Details of the transactions | ||
a) | Description of the financial instruments, type of instrument Identification Code | Ordinary Shares of 2.5 pence each GB00B1L8B624 | |
b) | Nature of transaction | Grant of an award, structured as a nil cost option, under the Company's 2015 Long Term Incentive Plan (LTIP).
| |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
0p | 829,285 | ||
d) | Aggregated information Aggregated volume Price |
829,285 shares 0.0p | |
e) | Date of the transaction | 9 February 2017 | |
f) | Place of the transaction | Outside a trading venue | |
Notification of Dealing Form
1 | Details of the person discharging managerial responsibility /persons closely associated with them. | ||
a) | Name | N R Smith | |
2 | Reason for the notification | ||
a) | Position/status | CFO | |
b) | Initial Notification/Amendment | Initial Notification | |
3 | Details of the issuer | ||
a) | Name | Ei Group plc | |
4 | Details of the transaction | ||
a) | Description of the financial instruments, type of instrument Identification Code | Ordinary Shares of 2.5 pence each GB00B1L8B624 | |
b) | Nature of transaction | Grant of an award, structured as a nil cost option, under the Company's 2015 Long Term Incentive Plan (LTIP).
| |
c) | Price(s) and volume(s) | Price(s) | Volume(s) |
0.0p | 676,822 | ||
d) | Aggregated information Aggregated volume Price |
676,822 shares 0.0p | |
e) | Date of the transaction | 9 February 2017 | |
f) | Place of the transaction | Outside a trading venue | |
L A Togher
Company Secretary
0121 272 5223