Grant of Options and Director / PDMR Shareholdings

RNS Number : 0242Z

City Pub Group PLC (The)

18 May 2021

 

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: [phone]
Liberum (Nomad & Broker) Chris Clarke / Edward Thomas / Clayton Bush	Tel: [phone]
Instinctif Partners Matthew Smallwood / Jack Devoy	Tel: [phone]

 

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