15 Feb 2016 15:18
Enterprise Inns plc (the "Company")
Director/PDMR Shareholding
15 February 2016
Grant of LTIP awards.
The Company confirms that on 12 February 2016 it granted to each of the following executive directors an award (structured as a nil-cost option) under the rules of the Enterprise Inns 2015 Long Term Incentive Plan (the "LTIP") as amended with the approval of shareholders at the AGM on 11th February 2016. The awards, which have been granted in respect of the financial year beginning on 1 October 2015, are over the following maximum number of ordinary shares in the Company:
Name/Position | Maximum number of ordinary 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 of the Company's 2015/2016, 2016/2017 and 2017/2018 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 each of the date on which the Remuneration Committee determines the extent to which the performance conditions are satisfied, the first anniversary of that determination and 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 following 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 | 1,143,248 0.22% | N R Smith Chief Financial Officer | 375,000 0.07% | |
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This notification is provided in accordance with DTR 3.1.4R(1).
Name of contact and telephone number for queries:
Loretta Togher
Company Secretary
0121 733 7700