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28 Nov 2025 12:30
28 November 2025
Notification of interests of directors and persons discharging managerial responsibilities
Marston's PLC (the "Company") announces that on 27 November 2025 the Directors listed below were granted awards over ordinary shares in the Company under the Company's Long Term Incentive Plan (the "Plan").
The number of shares over which awards were granted was calculated using the market price at the close of trading on the London Stock Exchange on 27 November 2025, being £0.597 per ordinary share.
Awards under the Plan may comprise two elements:
(i) a nil-cost option (a "Nil-Cost Option"), and
(ii) a CSOP Option over shares with a total value at the date of grant of £60,000 (the statutory limit) with an exercise price of £0.597 per share (a "CSOP Option").
The awards will ordinarily vest on the third anniversary of the date of grant to the extent the performance metrics are satisfied. The performance metrics are based on Underlying Profit Before Tax (as regards 40% of the award), Operating Margin (as regards 30% of the award) and Relative Total Shareholder Return (as regards 30% of the award) assessed over the Company's 2026, 2027 and 2028 financial periods, details of which will be set out in the Company's Annual Report and Accounts for the period ended 27 September 2025.
To the extent the performance metrics are met, a Nil-Cost Option will be released following a two-year holding period.
Linking Arrangement between Nil-Cost Option and CSOP Option
The options granted to Stephen Hopson have been granted such that the maximum pre-tax value delivered to him will not exceed the value of the shares over which the Nil-Cost Option would have vested if it was a standalone option.
The CSOP option will be released only to the extent that the aggregate CSOP gain is less than or equal to the value of the shares over which the Nil-Cost Option would be released on the normal released date.
Name of individual | Designation | Number of shares subject to CSOP Option | Number of shares subject to Nil-Cost Option |
Justin Platt | Director | N/A | 1,590,452 |
Stephen Hopson | Director | 100,502 | 785,175 |
The Notification of Dealing Forms set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
Enquiries:
Bethan Raybould, General Counsel & Company Secretary, Marston's PLC, +44 (0) 1902 907250
1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||||
a) | Name | Stephen Hopson
| ||||||
2. | Reason for the notification | |||||||
a) | Position/status | Director and PDMR (Chief Financial Officer)
| ||||||
b) | Initial notification/ amendment | Initial Notification | ||||||
3. | Details of the Issuer | |||||||
a) | Name | Marston's PLC | ||||||
b) | LEI code | 213800Q6RP3ZJ2CZR962 | ||||||
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
Identification code | Ordinary Shares of 7.375 pence each
ISIN: GB00B1JQDM80 | ||||||
b) | Nature of the transaction | Grant of award under the Marston's PLC Long Term Incentive Plan in the form of a CSOP option with an exercise price of £0.597 per share and a nil-cost option. | ||||||
c) | Price(s) and volumes(s) |
| ||||||
d) | Aggregated information - Aggregate volume
- Price |
N/A
| ||||||
e) | Date of the transaction | 2025-11-27 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||
a) | Name | Justin Platt
| ||||
2. | Reason for the notification | |||||
a) | Position/status | Director and PDMR (Chief Executive Officer)
| ||||
b) | Initial notification/ amendment | Initial Notification | ||||
3. | Details of the Issuer | |||||
a) | Name | Marston's PLC | ||||
b) | LEI code | 213800Q6RP3ZJ2CZR962 | ||||
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
Identification code | Ordinary Shares of 7.375 pence each
ISIN: GB00B1JQDM80 | ||||
b) | Nature of the transaction | Grant of award under the Marston's PLC Long Term Incentive Plan in the form of a nil-cost option.
| ||||
c) | Price(s) and volumes(s) |
| ||||
d) | Aggregated information - Aggregate volume
- Price |
N/A
| ||||
e) | Date of the transaction | 2025-11-27 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
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