24 Oct 2018 08:55
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014.
For immediate release
24 October 2018
Patisserie Holdings plc
Clarification regarding LTIP Scheme
Patisserie Holdings plc (AIM: CAKE) (the "Company") notes the recent press commentary regarding the Company's three year 2014 long-term incentive plan for executives ("LTIP") and would like to confirm the current status of awards under the LTIP.
Paul May
Year of Grant | Number of Options granted | Exercisable Period | Status |
2014 | 1,000,000 | June 2017 - June 2019 | Exercised at 170p as announced on 07 February 2018 |
2015 | 1,000,000 | June 2018 - June 2020 | Exercised at 316p as announced on 20 July 2018 |
2016 | 1,000,000 | June 2019 - June 2021 | Remain unvested and are now considered by the Company as being unlikely to become exercisable under the rules of the LTIP |
Chris Marsh
Year of Grant | Number of Options granted | Exercisable Period | Status |
2014 | 666,666 | June 2017 - June 2019 | Exercised at 170p as announced on 02 February 2018 |
2015 | 666,666 | June 2018 - June 2020 | Exercised at 316p as announced on 20 July 2018 |
2016 | 666,666 | June 2019 - June 2021 | Remain unvested and are now considered by the Company as being unlikely to become exercisable under the rules of the LTIP |
The Company¸ as part of the ongoing investigation, is seeking to understand why the grant of options relating to 2015 and 2016 have not been appropriately disclosed and accounted for in its financial statements.
Enquiries:
Patisserie Holdings PLC +44 (0)121 777 7000
Luke Johnson, Executive Chairman
Paul May, Chief Executive Officer
Nomad and Broker
Canaccord Genuity Limited +44 (0)20 7523 8000
Chris Connors
Henry Fitzgerald-O'Connor
Financial Public Relations
Maitland +44 (0) 20 7379 5151
Sam Cartwright
Jonathan Cook
Patisserie Holdings Plc (CAKE)