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City Pub Group (The) (CPC)

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Friday 10 June, 2022

City Pub Group (The)

Grant of Options and Director / PDMR Shareholdings

RNS Number : 3967O
City Pub Group PLC (The)
10 June 2022
 

10 June 2022

The City Pub Group plc

("The City Pub Group" or the "Company")

Grant of Options and Director / PDMR Shareholdings

The City Pub Group plc announces that on 10 June 2022 the Company granted awards (in the form of nominal cost options) over 1,000,000 ordinary shares of 1p each ("Ordinary Shares") to certain Directors and employees of the Company (the "Options").

The Options have been granted under the Company's Long Term Incentive Plan, are exercisable in 2025 following release of the Company's audited accounts for the year ended 31 December 2024, are subject to performance conditions relating to the Company's EBITDA profitability (pre-IFRS 16) and have a 10-year term.

The Company also announces that on 10 June 2022 it granted additional new options to Holly Elliott and Chris Merriman over 33,333 and 8,333 Ordinary Shares respectively under The Company's Share Option Plan (the "CSOPs"). The CSOPs have an exercise price of £0.90, will vest after 3 years and have a 10-year term.

Details of the Options and CSOPs granted to the PDMRs of the Company are set out in the table below together with further information required under the Market Abuse Regulation in respect of PDMR dealings at the end of this announcement.

Name

Position

Number of shares subject to the Options and CSOPs granted

Clive Watson

Executive Chairman

200,000

Holly Elliott

Chief Financial Officer

233,333

Toby Smith

Chief Operating Officer

200,000

Rupert Clark

Managing Director

200,000

Chris Merriman

Financial Controller

58,333

 

Following the grant of the Options and CSOPs, there are options over a total of 9,001,666 Ordinary Shares in the Company, representing 8.5 per cent. of the Company's current issued share capital. In addition, there are 675,000 Ordinary Shares held in the Company's employee benefit trust ("EBT") that are subject to outstanding JSOP awards, as well as a further 1,250,000 unallocated Ordinary Shares in the EBT (together the "JSOP Shares") that would be available to satisfy any outstanding options under the LTIP or the Company's Company Share Option Plan. The aggregate 1,925,000 JSOP Shares do not have voting rights.

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Clive Watson

2.

Reason for the Notification

a)

Position/status

Executive Chairman

b)

Initial notification/ Amendment

Initial notification

3.

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

a)

Name

The City Pub Group plc

b)

LEI

213800OHELCFJ6GLZC03

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

Options over Ordinary Shares of 1p each

Identification code

GB00BYWRS683

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price

Volume

Nil

200,000

d)

Aggregated information:

· Aggregated volume

· Price

Single transaction as in 4c) above

200,000

Nil

e)

Date of the transaction

10 June 2022

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Holly Elliott

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

The City Pub Group plc

b)

LEI

213800OHELCFJ6GLZC03

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

Options over Ordinary Shares of 1p each

Identification code

GB00BYWRS683

b)

Nature of the transaction

Grant of Options

c)

Price(s) and volume(s)

Price

Volume

Nil

200,000

Exercise price of £0.90

33,333

d)

Aggregated information:

· Aggregated volume

· Price

 

233,333

n/a

e)

Date of the transaction

10 June 2022

f)

Place of the transaction

Outside a trading venue

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Toby Smith

2.

Reason for the Notification

a)

Position/status

Chief Operating Officer

b)

Initial notification/ Amendment

Initial notification

3.

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

a)

Name

The City Pub Group plc

b)

LEI

213800OHELCFJ6GLZC03

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

Options over Ordinary Shares of 1p each

Identification code

GB00BYWRS683

b)

Nature of the transaction

Grant of Options

c)

Price(s) and volume(s)

Price

Volume

Nil

200,000

d)

Aggregated information:

· Aggregated volume

· Price

Single transaction as in 4c) above

200,000

Nil

e)

Date of the transaction

10 June 2022

f)

Place of the transaction

Outside a trading venue

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Rupert Clark

2.

Reason for the Notification

a)

Position/status

Managing Director

b)

Initial notification/ Amendment

Initial notification

3.

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

a)

Name

The City Pub Group plc

b)

LEI

213800OHELCFJ6GLZC03

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

Interests in ordinary shares of 1p each under the Company's Joint Share Ownership Plan

Identification code

GB00BYWRS683

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price

Volume

Nil

200,000

d)

Aggregated information:

· Aggregated volume

· Price

Single transaction as in 4c) above

200,000

Nil

e)

Date of the transaction

10 June 2022

f)

Place of the transaction

Outside a trading venue

 

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Chris Merriman

2.

Reason for the Notification

a)

Position/status

Financial Controller

b)

Initial notification/ Amendment

Initial notification

3.

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

a)

Name

The City Pub Group plc

b)

LEI

213800OHELCFJ6GLZC03

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

Options over Ordinary Shares of 1p each

Identification code

GB00BYWRS683

b)

Nature of the transaction

Grant of Options

c)

Price(s) and volume(s)

Price

Volume

Nil

50,000

Exercise price of £0.90

8,333

d)

Aggregated information:

· Aggregated volume

· Price

 

58,333

n/a

e)

Date of the transaction

10 June 2022

f)

Place of the transaction

Outside a trading venue

 

 

 

 

Enquiries:

The City Pub Group

Clive Watson, Chairman

Holly Elliott, CFO

 

Tel: +44 20 7559 5106

Liberum (Nomad & Joint Broker)

Chris Clarke / Edward Thomas / Kane Collings

 

Tel: +44 20 3100 2000

Peel Hunt (Joint Broker)

George Sellar / Andrew Clark

 

            Tel: +44 20 3128 8789

Instinctif Partners

Matthew Smallwood

Tel: +44 20 7457 2020

 

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