12 Oct 2020 07:00
Joules Group plc
('Joules', the 'Company' or the 'Group')
Director/PDMR Share Dealing
Grant of FY21 awards to Directors under the LTIP
Joules, the premium British lifestyle brand, today announces that it has granted options over ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") under the Joules LTIP to the Directors as set out below. These LTIP options are subject to a three-year vesting period and stretching performance conditions which include EPS, as well as an additional share price performance element once the EPS proportion has been met.
Number of options granted:
Director | Total number of options granted under LTIP award |
Nick Jones | 1,008,000 |
Marc Dench | 540,600 |
Tom Joule | 273,360 |
The number of options granted as part of this year's award exceeds the Group's normal LTIP limit (being 150% of salary), however this was considered appropriate to ensure a motivational incentive is in place which is aligned to maximising shareholder value over the coming years. The Remuneration Committee will engage with shareholders in advance of utilising the exceptional limit in any future years, as it has done this year.
Waiving of Options
Furthermore, as a consequence of the above awards being made, the Directors as set out below, have waived certain options over Ordinary Shares in consideration for these new awards.
Number of options waived:
| FY19 LTIP options waived | FY20 LTIP options waived | Total LTIP options waived |
Nick Jones | n/a* | 262,500 | 262,500 |
Marc Dench | 77,599 | 140,781 | 218,380 |
Tom Joule | 98,097 | 142,375 | 240,472 |
*Nick Jones was not a participant in the FY19 LTIP as he was not appointed until September 2019
The waiver of these options is in addition to the waiver by Nick Jones of 65,625 options over Ordinary Shares awarded in April 2020, and the waiver by Marc Dench of 42,234 options over Ordinary Shares awarded in April 2020, as announced on 28 September 2020.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail:
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 |
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2. Reason for the notification |
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a) Position/status |
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b) Initial notification / Amendment | Initial notification | ||||||||||||||||
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||
a) Name | Joules Group plc | ||||||||||||||||
b) LEI | 213800BNGLSIPD111Y68 | ||||||||||||||||
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 1p each in the capital of Joules Group plc | ||||||||||||||||
b) Identification code | ISIN GB00BZ059357 | ||||||||||||||||
c) Nature of the transaction | Grant of options | ||||||||||||||||
d) Price(s) and volume(s) |
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e) Aggregated information: i. Aggregated volume ii. price | n/a (single transaction for each individual) | ||||||||||||||||
f) Date of the transaction | 9 October 2020 | ||||||||||||||||
g) Place of the transaction |
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1. Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||
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a) Name |
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2. Reason for the notification |
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a) Position/status |
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b) Initial notification / Amendment | Initial notification | ||||||||||||
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
a) Name | Joules Group plc | ||||||||||||
b) LEI | 213800BNGLSIPD111Y68 | ||||||||||||
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 1p each in the capital of Joules Group plc | ||||||||||||
b) Identification code | ISIN GB00BZ059357 | ||||||||||||
c) Nature of the transaction | Waiving of options | ||||||||||||
d) Price(s) and volume(s) |
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e) Aggregated information: i. Aggregated volume ii. price | n/a (single transaction for each individual) | ||||||||||||
f) Date of the transaction | 9 October 2020 | ||||||||||||
g) Place of the transaction |
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1. Details of the person discharging managerial responsibilities/person closely associated | |||||||||||||||||
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a) Name |
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2. Reason for the notification |
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a) Position/status |
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b) Initial notification / Amendment | Initial notification | ||||||||||||||||
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||||||
a) Name | Joules Group plc | ||||||||||||||||
b) LEI | 213800BNGLSIPD111Y68 | ||||||||||||||||
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 1p each in the capital of Joules Group plc | ||||||||||||||||
b) Identification code | ISIN GB00BZ059357 | ||||||||||||||||
c) Nature of the transaction | Waiving of options | ||||||||||||||||
d) Price(s) and volume(s) |
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e) Aggregated information: i. Aggregated volume ii. price | n/a (single transaction for each individual) | ||||||||||||||||
f) Date of the transaction | 9 October 2020 | ||||||||||||||||
g) Place of the transaction |
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Enquiries:
Joules Group plc Telephone: +44 (0) 1858 435 255
Nick Jones, CEO
Marc Dench, CFO
Peel Hunt LLP (NOMAD and Joint Broker) Telephone: +44 (0) 20 7418 8900
George Sellar
Andrew Clark
Liberum Capital Limited (Joint Broker) Telephone: +44 (0) 20 3100 2000
John Fishley
Edward Thomas
Hudson Sandler (Financial PR) Telephone: +44 (0) 20 7796 4133
Alex Brennan
Lucy Wollam