Director/PDMR Shareholding

RNS Number : 0408J

McColl's Retail Group plc

07 April 2020

 

McColl's Retail Group plc (the "Company")

Grant of Long Term Incentive Plan Awards

Notification of Transactions by Executive Directors and Persons Discharging Managerial Responsibilities ("PDMRs")

The Company announces the grant of LTIP Awards on 6 April 2020 to the following Directors and PDMRs of the Company in accordance with the rules of the McColl's Retail Group plc Long Term Incentive Plan (the "LTIP").

Director / PDMR	Number of ordinary shares of £0.001 each ("Shares") over which LTIP Awards were granted	Call Price per share
Jonathan Miller	500,933	£0.001
Robbie Bell	755,556	£0.001
Richard Crampton	500,000	£0.001
Karen Bird	358,333	£0.001

Awards for Jonathan Miller and Robbie Bell will vest based on three-year relative Total Shareholder Return ("TSR") measured from the date of grant and Earnings Per Share ("EPS") growth targets measured from a 2019 base year to the year ending November 2022 as set out in the 2019 Directors' Remuneration Report ("DRR") in the Annual Report and Accounts 2019 .

Awards for Richard Crampton and Karen Bird, as PDMRs of the Company, will vest based on TSR, EPS targets and a continued service element.

After consideration, the Remuneration Committee determined that the 2020 grants would be made in the normal grant window albeit award levels for Executive Directors have been further reduced compared to those set out in the DRR to reflect the current share price compared to the prevailing price at the date that the 2019 DRR was approved. Jonathan Miller's award represents an award level of 31% of salary and Robbie Bell's 61% of salary, compared to 50% and 100% respectively, as detailed in the DRR.

Under the LTIP rules, the Remuneration Committee must be satisfied that the vesting outcome when applying the EPS and TSR Targets is a genuine reflection of the underlying performance of the business and the Committee has full discretion to ensure that the final outturns reflect all relevant factors.

The awards are to be satisfied by newly issued shares.

A two year post vesting holding period will also apply to the awards of Jonathan Miller and Robbie Bell.

For further information contact:

Rachel Peat, Company Secretary

McColl's Retail Group plc

About McColl's Retail Group

McColl's is a leading neighbourhood retailer, with an estate of c.1,440 managed convenience stores and newsagents. We operate McColl's branded convenience stores as well as newsagents branded Martin's across the UK, except in Scotland where we operate under our heritage brand, RS McColl. Our dedicated colleagues serve five million customers every week, and we are the largest operator of Post Offices in the UK.

LEI: 213800R1TLR536P8YJ67

The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	1.  Jonathan Miller 2.  Robbie Bell 3.  Richard Crampton 4.  Karen Bird
2	Reason for the notification
a)	Position/status	1.  PDMR, Chief Executive 2.  PDMR, Chief Financial Officer 3.  PDMR, Chief Commercial Officer 4.  PDMR, Colleague & Operations Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	McColl's Retail Group plc
b)	LEI	213800R1TLR536P8YJ67
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 0.1 pence each ISIN: GB00BJ3VW957
b)	Nature of the transaction	Awards made pursuant to the McColl's Retail Group plc Long Term Incentive Plan
c)	Price(s) and volume(s)	Call Price(s)	Volume(s)
		1. 0.001 per Ordinary Share 2. 0.001 per Ordinary Share 3.  £0.001 per Ordinary Share 4.  £0.001 per Ordinary Share	1. 500,933 2. 755,556 3.  500,000 4.  358,333
d)	Aggregated information - Aggregated volume - Price	1. 500,933 2. 755,556 3.  500,000 4.  358,333 n/a
e)	Date of the transaction	1.  6 April 2020 2.   6 April 2020 3.  6 April 2020 4.  6 April 2020
f)	Place of the transaction	Outside a trading venue

 

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