16 Mar 2017 17:03
16 March 2017
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Hotel Chocolat Group plc
("Hotel Chocolat", the "Company" or the "Group")
Grant of Options
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The Directors of Hotel Chocolat announce that the Company has today granted 890,000 options over ordinary shares in the Company ("Ordinary Shares") to employees pursuant to the Hotel Chocolat Group plc 2016 Long Term Incentive Plan (the "Plan"). The grants comprise approved Company Share Options ("CSOP") and Unapproved Share Options (together, the "Options"). Certain of the Options have been granted to persons discharging managerial responsibilities ("PDMRs"), as set out below:
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PDMR / Director | Scheme | No. of Options granted | Total no. of Options now held |
Matt Pritchard (Chief Financial Officer) Â Â | CSOP | 0 | 20,270Â |
Unapproved | 200,000 | 979,730Â | |
Total | 200,000 | 1,000,000 | |
Matt Margereson (Chief Operating Officer) Â Â | CSOP | 0 | 20,270Â |
Unapproved | 200,000 | 979,730Â | |
Total | 200,000 | 1,000,000 |
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In addition to the Options granted to PDMRs, the Company has granted a further 112,505 CSOP Options and 377,495 Unapproved Options Scheme to other employees of the Group.
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All the Options granted on 16 March 2017 have an exercise price of 292p per Ordinary Share and, subject to the achievement of the relevant Performance Condition, are exercisable at the end of the three year Option Period until the day before the tenth anniversary of grant. Maximum vesting of the Options is subject to achievement of a Performance Condition based upon an audited net profit after tax target for the year ending June 2020.
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Following the grant of the Options, the total number of Ordinary Shares outstanding under all Group share incentive schemes arrangements is 3,692,000, representing 3.3 per cent of the Company's issued share capital.
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Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
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1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Matt Pritchard |
2 | Reason for the notification | |
a) | Position/status | Chief Financial Officer (PDMR) |
b) | Initial notification/ Amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Hotel Chocolat Group plc |
b) | LEI | 213800B4D3J15PZHVY29 |
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 | Options over ordinary shares of 0.1 pence each    GB00BYZC3B04 |
b) | Nature of the transaction | Grant of options pursuant to the Hotel Chocolat Group plc 2016 Long Term Incentive Plan |
c) | Price(s) and volume(s) | 200,000 options with an exercise price of 292p per share |
d) | Aggregated information - Aggregated volume  - Price | N/A  |
e) | Date of the transaction | [16] March 2017 |
f) | Place of the transaction | Outside a trading venue |
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1 | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Name | Matt Margereson |
2 | Reason for the notification | |
a) | Position/status | Chief Operating Officer (PDMR) |
b) | Initial notification/ Amendment | Initial notification |
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Hotel Chocolat Group plc |
b) | LEI | 213800B4D3J15PZHVY29 |
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 | Options over ordinary shares of 0.1 pence each    GB00BYZC3B04 |
b) | Nature of the transaction | Grant of options pursuant to the Hotel Chocolat Group plc 2016 Long Term Incentive Plan |
c) | Price(s) and volume(s) | 200,000 options with an exercise price of 292p per share |
d) | Aggregated information - Aggregated volume  - Price | N/A  |
e) | Date of the transaction | [16] March 2017 |
f) | Place of the transaction | Outside a trading venue |
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For further information: | ||
Hotel Chocolat Group plc | c/o Citigate | + 44 (0) 20 7638 9571 |
Angus Thirlwell, Co-founder and Chief Executive Officer | ||
Peter Harris, Co-founder and Development Director | ||
Matt Pritchard, Chief Financial Officer | ||
Liberum Capital Limited - Nominated Advisor and Broker | + 44 (0) 20 3100 2222 | |
Clayton Bush | ||
Jill Li | ||
Citigate Dewe Rogerson - Financial PR | + 44 (0) 20 7638 9571 | |
Simon Rigby | ||
Ellen Wilton | ||
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Notes to Editors:
Hotel Chocolat is a premium British chocolatier with a strong and distinct brand. The business was founded in 1993 by Angus Thirlwell and Peter Harris and has traded under the Hotel Chocolat brand since 2003. The Group sells its products online and through a network of 93 stores in the UK and abroad. The Group has ten Shop+Cafe format stores, two restaurants in the UK and a cocoa plantation and hotel in Saint Lucia. The Group was admitted to trading on AIM in 2016.
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