20 Feb 2013 10:30
20 February 2013
MITCHELLS & BUTLERS PLC
NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY OR CONNECTED PERSONS
2013 Performance Restricted Share Plan ("PRSP")
Option Grant
The following PRSP options were granted to Directors and Persons Discharging Managerial Responsibilities ("PDMRs") on 19 February 2013 in respect of the FY 2013-2015 performance cycle for the PRSP.
These options will be exercisable for the two year period following the end of the performance cycle, subject to the satisfaction of performance conditions and on payment of the option exercise price of a nominal £1. The maximum entitlements on satisfaction of the performance conditions in full are shown in the table below:
Director | No. of shares under option |
Alistair Darby | 307,210 |
Timothy Jones | 169,846 |
PDMR | Number of shares under option |
Robin Young | 74,700 |
Gary John | 64,038 |
Greg McMahon | 51,514 |
Susan Martindale | 53,002 |
Simon Cope | 49,028 |
As indicated in the Company's recent Directors' Remuneration Report, participants in the Company's Long-Term Incentive Plan ("LTIP") have cancelled, without payment, their rights under the LTIP in order to be eligible to participate in the PSRP. All of the persons named above cancelled their rights, other than Messrs Darby and McMahon who were not LTIP participants.
Denise Burton
Deputy Company Secretary
0121 498 6514
Mitchells & Butlers (MAB)