Last checked at 27 Apr 2017 14:13
For Immediate Release 27 April 2017
Majestic Wine PLC
("Majestic")
Issue of deferred consideration shares
Director/PDMR Shareholdings
As announced on 25 April 2017, return on investment performance conditions relating to the deferred contingent consideration for the first year of the Naked Wines acquisition earn-out have been met in full.
In line with the timing and amounts outlined in the 2015 acquisition agreement, 434,115 new ordinary shares of 7.5p each in the Company ("Ordinary Shares") have now been issued to 29 members of Naked Wines management through an Employee Benefit Trust.
Four PDMR's (Persons Discharging Managerial Responsibilities) are included in the 29 members of the management team and have notified the Company of the following transactions in order to cover Tax and National Insurance liabilities:
Name | Title | Number of Ordinary Shares awarded | Number of Ordinary Shares sold to cover tax liabilities | Sale price per Ordinary Share | Total number of Ordinary Shares held |
James Crawford | Chief Financial Officer | 53,614
| 25,294
| £3.72 | 42,320 |
Derek Hardy | Chief Technology Officer | 85,729
| 35,563
| £3.72 | 86,148 |
Eamon Fitzgerald | Managing Director Naked Wines UK | 70,547
| 33,281
| £3.72 | 37,266 |
Greg Banbury | Managing Director Naked Wines Australia | 2,707 | 1,340 | £3.72 | 25,686 |
In addition, following the satisfaction of performance criteria, a third of the following PDMR's consideration shares that were issued at the time of the acquisition in 2015 but were restricted from being traded, have now become unrestricted:
Name | Title | Number of Ordinary Shares unrestricted | Total number of Ordinary Shares held |
Rowan Gormley | Chief Executive Officer | 1,724,345
| 4,528,881 |
Derek Hardy | Chief Technology Officer | 9,853 | 86,148 |
Luke Jecks | Managing Director Naked Wines USA | 102,995
| 308,985 |
Greg Banbury | Managing Director Naked Wines Australia | 8,106 | 25,686 |
The notifications below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulations.
For further information, please contact:
Majestic Wine PLC Rowan Gormley, Chief Executive Officer James Crawford, Chief Financial Officer Gabriella Clinkard, Public & Investor Relations
| Tel: 01923 298 200
Tel: 07891 206239 gabby.clinkard@majestic.co.uk |
Investec (NOMAD & Joint Broker) Garry Levin / David Flin / David Anderson/Carlton Nelson |
Tel: 0207 597 5970 |
Liberum (Joint Broker) Peter Tracey / Anna Hartropp / Richard Bootle |
Tel: 020 3100 2222 |
MAJESTIC WINE PLC
DIRECTOR/PDMR SHAREHOLDING
1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
a) | Name
| James Crawford | ||||
2 | Reason for the notification
| |||||
a) | Position/status
| Chief Financial Officer | ||||
b) | Initial notification/ Amendment
| Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) | Name
| Majestic Wine PLC | ||||
b) | LEI
| 213800PRRI453CKM5429 | ||||
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
| Ordinary Shares of 7.5p
GB00B021F836 | ||||
b) | Nature of the transaction
| 1) Vesting of Naked Wines acquisition incentive award shares 2) Sale of Ordinary Shares to meet tax and National Insurance liabilities | ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information
- Aggregated volume
- Price
|
2 ) 25,249
2 ) 372p | ||||
e) | Date of the transaction
|
27 April 2017 | ||||
f) | Place of the transaction
|
London Stock Exchange (XLON); AIM Market | ||||
MAJESTIC WINE PLC
DIRECTOR/PDMR SHAREHOLDING
1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
a) | Name
| Derek Hardy | ||||
2 | Reason for the notification
| |||||
a) | Position/status
| Chief Technology Officer | ||||
b) | Initial notification/ Amendment
| Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) | Name
| Majestic Wine PLC | ||||
b) | LEI
| 213800PRRI453CKM5429 | ||||
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
| Ordinary Shares of 7.5p
GB00B021F836 | ||||
b) | Nature of the transaction
| 1) Vesting of Naked Wines acquisition incentive award shares 2) Sale of Ordinary Shares to meet tax and National Insurance liabilities | ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information
- Aggregated volume
- Price
|
2 ) 35,563
2 ) 372p | ||||
e) | Date of the transaction
|
27 April 2017 | ||||
f) | Place of the transaction
|
London Stock Exchange (XLON); AIM Market | ||||
MAJESTIC WINE PLC
DIRECTOR/PDMR SHAREHOLDING
1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
a) | Name
| Eamon Fitzgerald | ||||
2 | Reason for the notification
| |||||
a) | Position/status
| Managing Director, Naked Wines UK | ||||
b) | Initial notification/ Amendment
| Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) | Name
| Majestic Wine PLC | ||||
b) | LEI
| 213800PRRI453CKM5429 | ||||
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
| Ordinary Shares of 7.5p
GB00B021F836 | ||||
b) | Nature of the transaction
| 1) Vesting of Naked Wines acquisition incentive award shares 2) Sale of Ordinary Shares to meet tax and National Insurance liabilities | ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information
- Aggregated volume
- Price
|
2 ) 33,281
2 ) 372p | ||||
e) | Date of the transaction
|
27 April 2017 | ||||
f) | Place of the transaction
|
London Stock Exchange (XLON); AIM Market | ||||
MAJESTIC WINE PLC
DIRECTOR/PDMR SHAREHOLDING
1 | Details of the person discharging managerial responsibilities/person closely associated
| |||||
a) | Name
| Greg Banbury | ||||
2 | Reason for the notification
| |||||
a) | Position/status
| Managing Director, Naked Wines Australia | ||||
b) | Initial notification/ Amendment
| Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a) | Name
| Majestic Wine PLC | ||||
b) | LEI
| 213800PRRI453CKM5429 | ||||
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
| Ordinary Shares of 7.5p
GB00B021F836 | ||||
b) | Nature of the transaction
| 1) Vesting of Naked Wines acquisition incentive award shares 2) Sale of Ordinary Shares to meet tax and National Insurance liabilities | ||||
c) | Price(s) and volume(s)
|
| ||||
d) | Aggregated information
- Aggregated volume
- Price
|
2 ) 1,340
2 ) 372p | ||||
e) | Date of the transaction
|
27 April 2017 | ||||
f) | Place of the transaction
|
London Stock Exchange (XLON); AIM Market | ||||