Grant of awards to Directors/PDMRs under LTIP

Tortilla Mexican Grill PLC

10 May 2023

 

Tortilla Mexican Grill plc

("Tortilla" or the "Company")

Grant of awards to Directors/PDMRs under

the Tortilla Mexican Grill plc Long Term Incentive Plan 2021

Tortilla Mexican Grill plc, the largest and most successful fast-casual Mexican restaurant group in the UK, announces the grant of nil cost options ("Nil Cost Options") over ordinary shares of the Company to directors under the Tortilla Mexican Grill plc Long Term Incentive Plan 2021 ("LTIP").

Given the importance of retaining our leadership team to deliver on our long term strategy, under the LTIP a limited number of eligible employees have been granted Nil Cost Options to subscribe for ordinary shares in the Company of £0.01 each ("Shares"), subject to stretching performance targets and continued employment. The Company announces that the following Directors and Persons Discharging Managerial Responsibility ("PDMRs") of the Company have been granted Nil Cost Options:

Name of Director/PDMR	Number of Shares subject to Nil Cost Option ("Award Shares")
Richard Morris	210,232
Andy Naylor	150,697

The Nil Cost Options were granted on 10 May 2023 and will vest on 10 May 2026.

All Nil Cost Options are subject to the malus and clawback provisions set out in the LTIP rules.

All unexercised Nil Cost Options will lapse on the day falling immediately prior to the tenth anniversary of the date of grant.

The total number of Shares under option, including the Award Shares, is now 2,245,991 ("Total Option Shares"), including 1,103,713 granted to Richard Morris and 700,499 granted to Andy Naylor.

In the event that all of the Award Shares are issued, all other existing options over Shares are exercised, and no other Shares have been issued by the Company at that time, the Total Option Shares will represent 5.49% of the resulting issued share capital of the Company.

For further information, please contact:

Tortilla Mexican Grill PLC (via Hudson Sandler)

Richard Morris, Chief Executive Officer

Andy Naylor, Chief Finance Officer

Liberum Capital Limited (Nominated Adviser, Sole Broker)

Andrew Godber / Edward Thomas / Nikhil Varghese

Tel: [phone]

Hudson Sander (Public Relations)

Wendy Baker / Charlotte Cobb

Tel: [phone]

[e-mail]

Notification of Dealing Form:

The notification set out below is provided in accordance with the requirements of the EU Market Abuse Regulation

1	Details of the person discharging managerial responsibilities / person closely associate
a)	Name	Richard Morris
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Tortilla Mexican Grill plc
b)	LEI	213800YQDPNTU1EY8U28
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	Ordinary Shares of £0.01 each
	Identification code	ISIN: GB00BNYDGZ21
b)	Nature of the transaction	Grant of share awards under The Tortilla Mexican Grill plc Long Term Incentive Plan 2021.
c)	Price(s) and volume(s)	Price per share Volume Nil 210,232
d)	Aggregated Information Volume Price	n/a single transaction
e)	Date of transaction	10 May 2023
f)	Place of transaction	Outside a trading venue

The notification set out below is provided in accordance with the requirements of the EU Market Abuse Regulation

1	Details of the person discharging managerial responsibilities / person closely associate
a)	Name	Andy Naylor
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	Tortilla Mexican Grill plc
b)	LEI	213800YQDPNTU1EY8U28
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	Ordinary Shares of £0.01 each
	Identification code	ISIN: GB00BNYDGZ21
b)	Nature of the transaction	Grant of share awards under The Tortilla Mexican Grill plc Long Term Incentive Plan 2021.
c)	Price(s) and volume(s)	Price per share Volume Nil 150,697
d)	Aggregated Information Volume Price	n/a single transaction
e)	Date of transaction	10 May 2023
f)	Place of transaction	Outside a trading venue

 

END