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Patisserie Hldgs PLC (CAKE)

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Wednesday 24 October, 2018

Patisserie Hldgs PLC

Clarification regarding LTIP Scheme

RNS Number : 0163F
Patisserie Holdings PLC
24 October 2018
 

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

 

 


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