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18 Nov 2019 07:00
18 November 2019
Fevertree Drinks plc
Grant of Options
Fevertree Drinks plc (the "Company") announces the grant of options over a total of 64,466 ordinary shares of 0.25 pence each ("Ordinary Shares") in the Company with an exercise price of 0.25 pence.
On 8th May 2019, the following options were issued to the Company's Executive Directors, pursuant to the Company's Long Term Incentive Plan ("LTIP"):
Name | Title | Number of share options granted | Performance period | Vesting period | Exercise price |
Tim Warrillow | Chief Executive Officer | 39,240 | 1 January 2019 to 31 December 2021 | 3 years commencing on 8 May 2019 | 0.25p per share |
Andy Branchflower | Finance Director | 25,226 | 1 January 2019 to 31 December 2021 | 3 years commencing on 8 May 2019 | 0.25p per share |
The number of Ordinary Shares stated is the maximum number that could be issued to each Executive Director upon full satisfaction of the performance conditions attached to the 2019 awards.
The performance conditions are based on the achievement of targets linked to the Company's FY2021 turnover (as regards 75% of each award) and FY2021 adjusted EBITDA (as regards 25% of each award)
Taking account of previous grants, the total number of unvested options held by the Executive Directors detailed in this announcement, pursuant to the Company's LTIP, is as follows:
Tim Warrillow - 135,123 share options
Andy Branchflower - 75,395 share options
This includes the awards granted in 2017 and 2018, further details of which have been disclosed in the relevant Directors Remuneration Report.
For further information:
Fevertree Drinks plc | +44 (0)20 7349 4922 |
Tim Warrillow, Co-founder and CEO | |
Andy Branchflower, Finance Director Oliver Winters, Communications & IR Director | |
Numis Securities - Nominated Adviser and Broker | +44 (0)20 7260 1000 |
Garry Levin | |
Matt Lewis | |
Hugo Rubinstein |
Investec Bank plc - Joint Broker | +44 (0)20 7597 5970 |
David Flin | |
Alex Wright | |
David Anderson | |
| |
Brunswick Group | +44 (0)20 7404 5959 |
Jonathan Glass | |
Fiona Micallef-Eynaud | |
Notes to Editors:
Fever-Tree is the world's leading supplier of premium carbonated mixers for alcoholic spirits by retail sales value, with distribution to over 70 countries worldwide. Based in the UK, the brand was launched in 2005 to provide high quality mixers which could cater to the growing demand for premium spirits, in particular gin, but also increasingly for vodka, rum and whisky. The Company now sells a range of carbonated mixers to hotels, restaurants, bars and cafes ("On Trade") as well as selected retail outlets ("Off Trade").
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations
1 | Details of the persons discharging managerial responsibilities / person closely associated | |||||||
a) | Name | 1. Tim Warrillow 2. Andy Branchflower | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | 1. Chief Executive Officer 2. Finance Director | ||||||
b) | Initial notification /Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Fevertree Drinks plc | ||||||
b) | LEI | 2138007AJRLHRVQZLD07 | ||||||
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 | Ordinary shares of 0.25 pence each
| ||||||
Identification code | GB00BRJ9BJ26 | |||||||
b) | Nature of the transaction | Grant of options | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | N/A | ||||||
e) | Date of the transaction | 8th May 2019 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
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