Last checked at 28 Aug 2019 07:00
28 August 2019
Franchise Brands plc
("Franchise Brands", the "Company" or "Group")
Exercise of options, grant of options, director shareholdings
and change to total voting rights
Franchise Brands plc (AIM: FRAN), an international multi-brand franchisor, announces that its Remuneration Committee has approved the grant of a total of 125,000 EMI share options to senior management and employees of the Group ("Option Grants"). These options were granted under the Company's long-term incentive plan share option scheme (the "Scheme") and are exercisable at the closing mid-market price of ordinary shares on 23 August 2019, being 84p per share, subject to certain performance criteria pursuant to the Scheme. The options expire on 23 August 2029 if not exercised.
In addition, existing EMI options have been exercised over a total of 909,090 ordinary shares of 0.5 pence each in the Company ("Ordinary Shares"), of which 606,060 was by certain directors (together, the "Option Exercises") as follows:
Director | No. of ordinary shares acquired | Option exercise price | Total no. of ordinary shares now held | Percentage of ordinary shares now held |
Julia Choudhury | 303,030 | 33p | 1,507,288 | 1.93 |
Tim Harris | 303,030 | 33p | 1,362,314 | 1.74 |
Following the Options Grants and the Option Exercises, the Company has a total of 3,523,561 options over ordinary shares outstanding under the Scheme.
Issue of equity
The Option Exercises will be fulfilled in part by the 513,700 Ordinary Shares held in treasury and in part by the issue of 395,390 new Ordinary Shares. Application has been made for the admission to trading on AIM ("Admission") of the 395,390 new Ordinary Shares issued pursuant to the Option Exercises and it is expected that Admission will occur on or around 2 September 2019.
In accordance with AIM Rule 17, the Company announces that the total beneficial interest of Mr Nigel Wray, Non-Executive Director of the Company, remains unchanged at 21,720,120 Ordinary Shares, but upon Admission will represent 27.80 per cent. of the Company's then issued share capital.
Total voting rights
Following Admission, the Company's issued share capital will consist of 78,127,423 Ordinary Shares, each with one voting right. Pursuant to the Option Exercises, 513,700 Ordinary Shares will come out of treasury today and therefore the Company will no longer hold any Ordinary Shares in treasury. The aforementioned figure of 78,127,423 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Enquiries:
Franchise Brands plc | +44 (0) 1562 826705 |
Stephen Hemsley, Executive Chairman |
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Chris Dent, Chief Financial Officer Julia Choudhury, Corporate Development Director
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Allenby Capital Limited (Nominated Adviser and Joint Broker) | +44 (0) 203 328 5656 |
Jeremy Porter/ Liz Kirchner / Nicholas Chambers
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Dowgate Capital Limited (Joint Broker) | +44 (0) 203 903 7715 |
James Serjeant / Colin Climie
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MHP Communications (Financial PR) | +44 (0) 203 128 8100 |
Katie Hunt |
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Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1 | Details of the person discharging managerial responsibilities / person closely associated
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a) | Name | Tim Harris | ||||
2 | Reason for the notification | |||||
a) | Position/status | Managing Director of ChipsAway and Ovenclean | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a) | Name | Franchise Brands plc
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b) | LEI | 213800CFRX6CJ8LCKN37
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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
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a)
| Description of the financial instrument, type of instrument Identification code | Ordinary shares of 0.5p each in Franchise Brands plc
Identification code (ISIN) for Franchise Brands plc ordinary shares: GB00BD6P7Y24
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b) | Nature of the transaction | Exercise of options
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c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price |
n/a
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e) | Date of the transaction | 27 August 2019 | ||||
f) | Place of the transaction | London, Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated
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a) | Name | Julia Choudhury | ||||
2 | Reason for the notification | |||||
a) | Position/status | Corporate Development Director | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
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a) | Name | Franchise Brands plc
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b) | LEI | 213800CFRX6CJ8LCKN37
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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 Identification code | Ordinary shares of 0.5p each in Franchise Brands plc
Identification code (ISIN) for Franchise Brands plc ordinary shares: GB00BD6P7Y24
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b) | Nature of the transaction | Exercise of options
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c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price |
n/a
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e) | Date of the transaction | 27 August 2019 | ||||
f) | Place of the transaction | London, Outside a trading venue | ||||