Grant of Options and Director / PDMR Shareholdings
Updated : 12:53
18 May 2021
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 18 May 2021 the Company granted awards (in the form of nominal cost options) over 1,550,000 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 2024 following release of the Company's audited accounts for the year ended 31 December 2023, are subject to performance conditions relating to the Company's EBITDA profitability (pre-IFRS 16) and have a 10 year term.
Details of the Options 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 Options granted |
Clive Watson | Executive Chairman | 400,000 |
Tarquin Williams | Chief Financial Officer | 400,000 |
Rupert Clark | Managing Director | 400,000 |
Chris Merriman | Chief Accountant | 50,000 |
The Company also announces that on 18 May 2021 the following Directors relinquished their interests, for no consideration, in an aggregate of 1,200,000 Ordinary Shares under the Company's Joint Share Ownership Plan ("JSOP") (the "Relinquished Shares") as follows:
Name | Position | Number of shares over which JSOP awards relinquished |
Clive Watson | Executive Chairman | 400,000 |
Tarquin Williams | Chief Financial Officer | 400,000 |
Rupert Clark | Managing Director | 400,000 |
The awards of 400,000 Options each to Clive Watson, Tarquin Williams and Rupert Clark are intended to replace the Relinquished Shares.
Following the grant of the Options, there are options over a total of 8,230,000 Ordinary Shares in the Company, representing 7.8 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 1,250,000 unallocated Ordinary Shares referred to above include the 1,200,000 Relinquished Shares and 50,000 shares to be relinquished by other employees who have recently departed the Company. 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 | 400,000 | ||
d) | Aggregated information: ·Aggregated volume ·Price | Single transaction as in 4c) above 400,000 Nil | |
e) | Date of the transaction | 18 May 2021 | |
f) | Place of the transaction | Outside a trading venue |
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 | Interests in ordinary shares of 1p each under the Company's Joint Share Ownership Plan | |
Identification code | GB00BYWRS683 | ||
b) | Nature of the transaction | Disposal of interest | |
c) | Price(s) and volume(s) | Price | Volume |
Nil | 400,000 | ||
d) | Aggregated information: ·Aggregated volume ·Price | Single transaction as in 4c) above 400,000 Nil | |
e) | Date of the transaction | 18 May 2021 | |
f) | Place of the transaction | Outside a trading venue |
1. | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Tarquin Williams | |
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 | 400,000 | ||
d) | Aggregated information: ·Aggregated volume ·Price | Single transaction as in 4c) above 400,000 Nil | |
e) | Date of the transaction | 18 May 2021 | |
f) | Place of the transaction | Outside a trading venue |
1. | Details of the person discharging managerial responsibilities / person closely associated | ||
a) | Name | Tarquin Williams | |
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 | Interests in ordinary shares of 1p each under the Company's Joint Share Ownership Plan | |
Identification code | GB00BYWRS683 | ||
b) | Nature of the transaction | Disposal of Interest | |
c) | Price(s) and volume(s) | Price | Volume |
Nil | 400,000 | ||
d) | Aggregated information: ·Aggregated volume ·Price | Single transaction as in 4c) above 400,000 Nil | |
e) | Date of the transaction | 18 May 2021 | |
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 | 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 | 400,000 | ||
d) | Aggregated information: ·Aggregated volume ·Price | Single transaction as in 4c) above 400,000 Nil | |
e) | Date of the transaction | 18 May 2021 | |
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 | Disposal of interest | |
c) | Price(s) and volume(s) | Price | Volume |
Nil | 400,000 | ||
d) | Aggregated information: ·Aggregated volume ·Price | Single transaction as in 4c) above 400,000 Nil | |
e) | Date of the transaction | 18 May 2021 | |
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 | Management Accountant | |
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 | ||
d) | Aggregated information: ·Aggregated volume ·Price | Single transaction as in 4c) above 50,000 Nil | |
e) | Date of the transaction | 18 May 2021 | |
f) | Place of the transaction | Outside a trading venue |
Enquiries:
The City Pub Group Clive Watson, Chairman Tarquin Williams, CFO
| Tel: +44 20 7559 5106 |
Liberum (Nomad & Broker) Chris Clarke / Edward Thomas / Clayton Bush
| Tel: +44 20 3100 2000 |
Instinctif Partners Matthew Smallwood / Jack Devoy | Tel: +44 20 7457 2020 |
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