Director/PDMR Shareholding

RNS Number : 6352T

Mitchells & Butlers PLC

25 November 2021

 

25 November 2021

Mitchells & Butlers plc

LEI no. 213800JHYNDNB1NS2W10

Director/PDMR Shareholding

This notification has been made in accordance with the requirements of the EU Market Abuse Regulation.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Phil Urban
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mitchells & Butlers plc
b)	LEI	213800JHYNDNB1NS2W10
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 in Mitchells & Butlers plc (Shares) GB00B1FP6H53
b)	Nature of the transaction	Option granted to Director on 25 November 2021 under the Restricted Share Plan 2021. This option will be exercisable for 90 days following vesting.  No performance measures are applied on vesting, but the Committee will take into account the following factors (amongst others) when determining whether to exercise its discretion to adjust the number of shares vesting: • The Committee undertakes a thorough 'quality of earnings' assessment every year prior to the finalisation of any annual bonus outcomes. It is proposed that these will also be used to inform the assessment of awards under the RSP. The annual quality of earnings assessment takes into account financial performance as well as guest experience and employee engagement along with a broader-based holistic assessment of business performance and the achievement of KPIs; • Whether there has been material damage to the reputation of the Company (in such circumstances, responsibility and hence any adjustments to the level of vesting may be allocated collectively or individually to participants); and • That the business has a stable and appropriate capital structure in place following the cessation of restrictions on trade due to the Covid-19 pandemic that enables the recovery of the business and execution of the Company's strategic priorities. Subject to a dividend being paid or payable, and once, and to the extent that, the shares under the option granted have vested, the participant will be granted a further option over Dividend Accrued Shares. In accordance with the Company's Remuneration Policy, a post vesting holding period applies which requires Shares received pursuant to such awards to be retained for a period of two years from the end of the vesting period, except for Shares sold to pay income tax and national insurance contributions arising upon vesting/exercise.  Vested shares are also subject to post cessation holding requirements as detailed in the Company's Remuneration Policy.
c)	Price(s) and volume(s)	The option is granted over a maximum of 226,810 Shares. The share price used to determine the number of Shares under option was £2.361 per Share (being the average of the middle market quotation of a Share for the three days of 22/23/24 November 2021). No amount was payable on the grant of the option.
d)	Aggregated information   - Aggregated volume   - Price	N/A (single transaction)
e)	Date of the transaction	25 November 2021
f)	Place of the transaction	n/a

Enquiries:

Denise Burton

Deputy Company Secretary

0121 498 6514

25 November 2021

Mitchells & Butlers plc

LEI no. 213800JHYNDNB1NS2W10

Director/PDMR Shareholding

This notification has been made in accordance with the requirements of the EU Market Abuse Regulation.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Tim Jones
2	Reason for the notification
a)	Position/status	Director
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mitchells & Butlers plc
b)	LEI	213800JHYNDNB1NS2W10
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 in Mitchells & Butlers plc (Shares) GB00B1FP6H53
b)	Nature of the transaction	Option granted to Director on 25 November 2021 under the Restricted Share Plan 2021. This option will be exercisable for 90 days following vesting.  No performance measures are applied on vesting, but the Committee will take into account the following factors (amongst others) when determining whether to exercise its discretion to adjust the number of shares vesting: • The Committee undertakes a thorough 'quality of earnings' assessment every year prior to the finalisation of any annual bonus outcomes. It is proposed that these will also be used to inform the assessment of awards under the RSP. The annual quality of earnings assessment takes into account financial performance as well as guest experience and employee engagement along with a broader-based holistic assessment of business performance and the achievement of KPIs; • Whether there has been material damage to the reputation of the Company (in such circumstances, responsibility and hence any adjustments to the level of vesting may be allocated collectively or individually to participants); and • That the business has a stable and appropriate capital structure in place following the cessation of restrictions on trade due to the Covid-19 pandemic that enables the recovery of the business and execution of the Company's strategic priorities. Subject to a dividend being paid or payable, and once, and to the extent that, the shares under the option granted have vested, the participant will be granted a further option over Dividend Accrued Shares. In accordance with the Company's Remuneration Policy, a post vesting holding period applies which requires Shares received pursuant to such awards to be retained for a period of two years from the end of the vesting period, except for Shares sold to pay income tax and national insurance contributions arising upon vesting/exercise.  Vested shares are also subject to post cessation holding requirements as detailed in the Company's Remuneration Policy.
c)	Price(s) and volume(s)	The option is granted over a maximum of 189,750 Shares. The share price used to determine the number of Shares under option was £2.361 per Share (being the average of the middle market quotation of a Share for the three days of 22/23/24 November 2021). No amount was payable on the grant of the option.
d)	Aggregated information   - Aggregated volume   - Price	N/A (single transaction)
e)	Date of the transaction	25 November 2021
f)	Place of the transaction	n/a

Enquiries:

Denise Burton

Deputy Company Secretary

0121 498 6514

20 May 2021

25 November 2021

Mitchells & Butlers plc

LEI no. 213800JHYNDNB1NS2W10

Director/PDMR Shareholding

This notification has been made in accordance with the requirements of the EU Market Abuse Regulation.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Greg McMahon
2	Reason for the notification
a)	Position/status	PDMR
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mitchells & Butlers plc
b)	LEI	213800JHYNDNB1NS2W10
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 in Mitchells & Butlers plc (Shares) GB00B1FP6H53
b)	Nature of the transaction	Option granted to PDMR on 25 November 2021 under the Restricted Share Plan 2021. This option will be exercisable for 90 days following vesting.  No performance measures are applied on vesting, but the Committee will take into account the following factors (amongst others) when determining whether to exercise its discretion to adjust the number of shares vesting: • The Committee undertakes a thorough 'quality of earnings' assessment every year prior to the finalisation of any annual bonus outcomes. It is proposed that these will also be used to inform the assessment of awards under the RSP. The annual quality of earnings assessment takes into account financial performance as well as guest experience and employee engagement along with a broader-based holistic assessment of business performance and the achievement of KPIs; • Whether there has been material damage to the reputation of the Company (in such circumstances, responsibility and hence any adjustments to the level of vesting may be allocated collectively or individually to participants); and • That the business has a stable and appropriate capital structure in place following the cessation of restrictions on trade due to the Covid-19 pandemic that enables the recovery of the business and execution of the Company's strategic priorities. Subject to a dividend being paid or payable, and once, and to the extent that, the shares under the option granted have vested, the participant will be granted a further option over Dividend Accrued Shares. In accordance with the Company's Remuneration Policy, a post vesting holding period applies which requires Shares received pursuant to such awards to be retained for a period of two years from the end of the vesting period, except for Shares sold to pay income tax and national insurance contributions arising upon vesting/exercise.
c)	Price(s) and volume(s)	The option is granted over a maximum of 49,512 Shares. The share price used to determine the number of Shares under option was £2.361 per Share (being the average of the middle market quotation of a Share for the three days of 22/23/24 November 2021). No amount was payable on the grant of the option.
d)	Aggregated information   - Aggregated volume   - Price	N/A (single transaction)
e)	Date of the transaction	25 November 2021
f)	Place of the transaction	n/a

Enquiries:

Denise Burton

Deputy Company Secretary

0121 498 6514

 

END

 

 

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