13 Apr 2012 10:02
MOSS BROS GROUP PLC (the "Company" or "Moss Bros")
Director/PDMR Shareholding and EBT purchase
The Company has today been notified by its two executive directors and non-PDMR employees of the exercise of 4,501,083 options at nil cost per ordinary share of 5 pence each in the Company ("Ordinary Share") granted under the Moss Bros Group 2009 LTIP ("the Plan").
The following executive directors have exercised options on 12 April 2012:
Director Number of options exercised
Brian Brick 3,846,153
Robin Piggott 339,905
No consideration was paid as the initial grant of an award under the Plan was structured as an option with nil exercise price.
Accordingly, an application has been made by the Company to the UK Listing Authority and the London Stock Exchange for the 4,501,083 new Ordinary Shares ("New Shares") to be admitted to the Official List maintained by the UK Listing Authority, and to be admitted to trading by the London Stock Exchange on its market for listed securities.
It is expected that admission of the Ordinary Shares will become effective on or around 18 April 2012. Following the issue of these New Shares, the Company will have a total of 99,031,835 Ordinary Shares in issue.
At the same time, the Company was today informed that conditional only on the admission of the New Shares Brian Brick has sold 2,000,000 Ordinary Shares at 48 pence per Ordinary Share and Robin Piggott has sold 169,952 Ordinary Shares at 48 pence per Ordinary Share to cover the Income Tax liability arising from the exercise of the above options ("The Disposal"). The Disposal took place in London and the purchaser was Praxis Trustees Limited, trustee of the Moss Bros plc Employee Benefit Trust (the "EBT"). The EBT has purchased in total 2,327,465 Ordinary Shares at a price of 48 pence per Ordinary Share.
Immediately following this transaction the EBT will hold 4,128,686 Ordinary Shares representing approximately 4.2% of the Company's issued share capital. It is anticipated that all ordinary Shares held by the EBT will ultimately be used to satisfy awards and options granted under the Company's various share incentive arrangements.
As a result of the above transaction Brian Brick has a beneficial holding in Moss Bros of 2,219,153 Ordinary Shares which represents 2.2% of the Company's Ordinary Shares and Robin Piggott now has a beneficial holding in Moss Bros of 258,213 Ordinary Shares with represents 0.3% of the Company's Ordinary Shares.
For further information please contact:
Moss Bros Group Plc: 0207 447 7200
Robin Piggott, Finance Director and Company Secretary
Buchanan: 0207 466 5000
Charles Ryland/Nicola Cronk/Gabriella Clinkard