26 Jul 2019 07:00
Joules Group plc
("Joules" or the "Company")
Director/PDMR Share Dealing
IPO awards
At the point of the Company's IPO in May 2016, under various share incentive schemes, Joules granted certain senior management options over ordinary shares of 1p each in the Company ("Ordinary Shares"), subject to certain performance conditions and vesting periods. Reflecting the Company's strong performance since IPO, a significant proportion of these options have now vested.
Following the vesting of these options, the Directors set out below have exercised the following options and subsequently sold Ordinary Shares, in part to meet the tax liabilities associated with the option exercises.
Director | Ordinary Shares held previously | Options exercised | Ordinary Shares sold | Remaining Ordinary Shares held |
Tom Joule | 28,147,210* | 192,429 | 91,206 | 28,248,433 |
Colin Porter | 1,519,822 | 209,796 | 209,796 | 1,519,822 |
Marc Dench | 138,016 | 333,311 | 230,988 | 240,339 |
* This figure includes nine million Ordinary Shares transferred by Tom Joule on 1 February 2019 to five discretionary trusts (the "Trusts"). Tom Joule is one of the trustees of each of the Trusts, and the holder of trust protectorship rights over the Trusts, which gives him effective voting control of the shares held by the Trusts. Therefore, Tom Joule's voting control in the Company remains unchanged.
Grant of 2019 awards to Directors under DBP and LTIP
Joules announces that it has granted options over Ordinary Shares under the Joules 2016 Deferred Bonus Plan (the "DBP") and the Joules 2016 Long Term Incentive Plan (the "LTIP") to the Directors as set out below.
The DBP options are subject to a three-year vesting period and the LTIP options are subject to certain performance conditions and a three-year vesting period. These options have an exercise price of 1p per share.
Director | Number of options granted under DBP award | Number of options granted under LTIP award |
Tom Joule | 39,192 | 142,375 |
Colin Porter | 40,362 | N/a |
Marc Dench | 31,002 | 140,781 |
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 | |
| |
a) Name | Tom Joule |
2. Reason for the notification |
|
a) Position/status | Chief Brand Officer |
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 | Exercise of options |
d) Price(s) and volume(s) |
Volume: 192,429
Price: 1p
|
e) Aggregated information: i. Aggregated volume ii. price | Aggregate volume: N/a
Price(s): N/a |
f) Date of the transaction | 2019-07-25 |
g) Place of the transaction | Outside a trading venue |
1. Details of the person discharging managerial responsibilities/person closely associated | |
| |
a) Name | Colin Porter |
2. Reason for the notification |
|
a) Position/status | CEO |
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 | Exercise of options |
d) Price(s) and volume(s) |
Volume: 209,796
Price: 1p
|
e) Aggregated information: i. Aggregated volume ii. price | Aggregate volume: N/a
Price(s): N/a |
f) Date of the transaction | 2019-07-25 |
g) Place of the transaction | Outside a trading venue |
1. Details of the person discharging managerial responsibilities/person closely associated | |
| |
a) Name | Marc Dench |
2. Reason for the notification |
|
a) Position/status | CFO |
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 | Exercise of options |
d) Price(s) and volume(s) |
Volume: 333,311
Price: 1p
|
e) Aggregated information: i. Aggregated volume ii. price | Aggregate volume: N/a
Price(s): N/a |
f) Date of the transaction | 2019-07-25 |
g) Place of the transaction | Outside a trading venue |
1. Details of the person discharging managerial responsibilities/person closely associated | |
| |
a) Name | Tom Joule |
2. Reason for the notification |
|
a) Position/status | Chief Brand Officer |
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 | Sale of shares following exercise of options |
d) Price(s) and volume(s) |
Volume: 91,206
Price: 247.332p
|
e) Aggregated information: i. Aggregated volume ii. price | Aggregate volume: N/a
Price(s): N/a |
f) Date of the transaction | 2019-07-25 |
g) Place of the transaction | London Stock Exchange |
1. Details of the person discharging managerial responsibilities/person closely associated | |
| |
a) Name | Colin Porter |
2. Reason for the notification |
|
a) Position/status | CEO |
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 | Sale of shares following exercise of options |
d) Price(s) and volume(s) |
Volume: 209,796
Price: 247.332p
|
e) Aggregated information: i. Aggregated volume ii. price | Aggregate volume: N/a
Price(s): N/a |
f) Date of the transaction | 2019-07-25 |
g) Place of the transaction | London Stock Exchange |
1. Details of the person discharging managerial responsibilities/person closely associated | |
| |
a) Name | Marc Dench |
2. Reason for the notification |
|
a) Position/status | CFO |
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 | Sale of shares following exercise of options |
d) Price(s) and volume(s) |
Volume: 230,988
Price: 247.332p
|
e) Aggregated information: i. Aggregated volume ii. price | Aggregate volume granted: N/a
Price(s): N/a |
f) Date of the transaction | 2019-07-25 |
g) Place of the transaction | London Stock Exchange |
1. Details of the person discharging managerial responsibilities/person closely associated | |
| |
a) Name | Tom Joule |
2. Reason for the notification |
|
a) Position/status | Chief Brand Officer |
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) | Volume(s) granted: DBP: 39,192 LTIP: 142,375
Price(s): DBP: Nil LTIP: Nil
|
e) Aggregated information: i. Aggregated volume ii. price | Aggregate volume granted: 181,567
Price(s): Nil |
f) Date of the transaction | 2019-07-25 |
g) Place of the transaction | Outside a trading venue |
1. Details of the person discharging managerial responsibilities/person closely associated | |
| |
a) Name | Colin Porter |
2. Reason for the notification |
|
a) Position/status | CEO |
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) | Volume(s) granted: DBP: 40,362
Price(s): DBP: Nil
|
e) Aggregated information: i. Aggregated volume ii. price | Aggregate volume granted: N/a
Price(s): N/a |
f) Date of the transaction | 2019-07-25 |
g) Place of the transaction | Outside a trading venue |
1. Details of the person discharging managerial responsibilities/person closely associated | |
| |
a) Name | Marc Dench |
2. Reason for the notification |
|
a) Position/status | CFO |
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) | Volume(s) granted: DBP: 31,002 LTIP: 140,781
Price(s): DBP: Nil LTIP: Nil
|
e) Aggregated information: i. Aggregated volume ii. price | Aggregate volume granted: 171,783
Price(s): Nil |
f) Date of the transaction | 2019-07-25 |
g) Place of the transaction | Outside a trading venue |
Enquiries:
Joules Group plc Telephone: +44 (0) 1858 435 255
Colin Porter, CEO
Marc Dench, CFO
Peel Hunt LLP (NOMAD and joint broker) Telephone: +44 (0) 20 7418 8900
Dan Webster
George Sellar
Guy Pengelley
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