Grant of Share Options

RNS Number : 1716K
Franchise Brands PLC
12 December 2018
 

12 December 2018

 

FRANCHISE BRANDS PLC

("Franchise Brands", the "Company" or the "Group")

 

Grant of Share Options

 

Franchise Brands plc, a multi-brand international franchisor, announces that its remuneration committee has awarded a total of 1,200,989 options over ordinary shares of 0.5 pence each in the Company ("Ordinary Shares") to various directors and employees of the Company (the "Options"). These Options were granted under the Company's long-term incentive plan share option scheme (the "Scheme").

 

The Options are exercisable at the closing mid-market price of Ordinary Shares on 11 December 2018, being 69 pence per Ordinary Share (the "Exercise Price"). The Options expire on 11 December 2028 if not exercised.

The Options are exercisable in the following circumstances:

1)    As to 20 per cent. after reported fully diluted adjusted earnings per share achieves compound annual growth of 8 per cent. over each of the next three financial years;

2)    As to 100 per cent. after reported fully diluted adjusted earnings per share achieves, or is more than, compound annual growth of 15 per cent. over each of the next three financial years; and

3)    On a sliding scale basis as between 20 per cent. and 100 per cent. of the Options after reported fully diluted adjusted earnings per share achieves compound annual growth of between 8 per cent. and 15 per cent. over each of the next three financial years.

The exercise of Options will be satisfied by shares held in treasury to the extent possible and otherwise through the issue of new Ordinary Shares at the Exercise Price. The Company is highly cash generative and has been repurchasing shares as part of its previously announced intention to offset the dilutive impact of share awards, focusing on overall shareholder return. To date, the Company has repurchased 125,000 Ordinary Shares in the market, all of which are held in treasury.  

 

Of the 1,200,989 Options issued, 343,880 have been issued to certain directors of the Company as set out below:

 

Director

Position

Number of Options granted

Total options held following the grant

Chris Dent

Chief Financial Officer

21,970

325,000

Peter Molloy

Managing Director, Metro Rod

106,000

409,030

Tim Harris

Managing Director, ChipsAway and Ovenclean

71,970

375,000

Julia Choudhury

Corporate Development Director

71,970

375,000

Colin Rees

Chief Information Officer

71,970

375,000

 

Following the grant of the Options, the Company has options in issue over a total of 4,533,530 Ordinary Shares, representing 5.8 per cent. of the Company's issued share capital.

 

For further information, please contact:

 

Franchise Brands plc

+44 (0) 1562 826705

Stephen Hemsley, Executive Chairman


Chris Dent, Chief Financial Officer

Julia Choudhury, Corporate Development Director




Allenby Capital Limited (Nominated Adviser and Joint Broker)

+44 (0) 20 3328 5656

Jeremy Porter/ Liz Kirchner




Dowgate Capital Stockbrokers (Joint Broker)

+44 (0) 20 3903 7715

James Serjeant / Colin Climie




MHP Communications (Financial PR)

+44 (0) 20 3128 8100

Katie Hunt


 

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

John Christopher Dent

2

Reason for the notification

a)

Position/status

Chief Financial Officer (plc director)

b)

 

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Franchise Brands plc

b)

LEI

213800CFRX6CJ8LCKN37

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 0.5p each in Franchise Brands plc

 

Identification code (ISIN) for Franchise Brands plc ordinary shares: GB00BD6P7Y24

b)

Nature of the transaction

Grant of options over ordinary shares

 

c)

Price(s) and volume(s)

 Price(s)

Volume(s)

69p

21,970

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

11 December 2018

f)

Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Peter Molloy

2

Reason for the notification

a)

Position/status

Managing Director of Metro Rod (plc director)

b)

 

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Franchise Brands plc

b)

LEI

213800CFRX6CJ8LCKN37

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 0.5p each in Franchise Brands plc

 

Identification code (ISIN) for Franchise Brands plc ordinary shares: GB00BD6P7Y24

b)

Nature of the transaction

Grant of options over ordinary shares

 

c)

Price(s) and volume(s)

 Price(s)

Volume(s)

69p

106,000

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

11 December 2018

f)

Place of the transaction

Outside a trading venue

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Timothy Harris

2

Reason for the notification

a)

Position/status

Managing Director of ChipsAway and Ovenclean (plc director)

b)

 

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Franchise Brands plc

b)

LEI

213800CFRX6CJ8LCKN37

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 0.5p each in Franchise Brands plc

 

Identification code (ISIN) for Franchise Brands plc ordinary shares: GB00BD6P7Y24

b)

Nature of the transaction

Grant of options over ordinary shares

 

c)

Price(s) and volume(s)

 Price(s)

Volume(s)

69p

71,970

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

11 December 2018

f)

Place of the transaction

Outside a trading venue

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Julia Choudhury

2

Reason for the notification

a)

Position/status

Corporate Development Director (plc director)

b)

 

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Franchise Brands plc

b)

LEI

213800CFRX6CJ8LCKN37

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 0.5p each in Franchise Brands plc

 

Identification code (ISIN) for Franchise Brands plc ordinary shares: GB00BD6P7Y24

b)

Nature of the transaction

Grant of options over ordinary shares

 

c)

Price(s) and volume(s)

 Price(s)

Volume(s)

69p

71,970

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

11 December 2018

f)

Place of the transaction

Outside a trading venue

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Colin Rees

2

Reason for the notification

a)

Position/status

Chief Information Officer (plc director)

b)

 

Initial notification /Amendment

Initial notification

3

 

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Franchise Brands plc

b)

LEI

213800CFRX6CJ8LCKN37

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 0.5p each in Franchise Brands plc

 

Identification code (ISIN) for Franchise Brands plc ordinary shares: GB00BD6P7Y24

b)

Nature of the transaction

Grant of options over ordinary shares

 

c)

Price(s) and volume(s)

 Price(s)

Volume(s)

69p

71,970

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

11 December 2018

f)

Place of the transaction

Outside a trading venue

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCFKDDNOBDDABD
UK 100

Latest directors dealings