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: [phone]
Liberum (Nomad & Joint Broker) Chris Clarke / Edward Thomas / Kane Collings		Tel: [phone]
Peel Hunt (Joint Broker) George Sellar / Andrew Clark	Tel: [phone]
Instinctif Partners Matthew Smallwood		Tel: [phone]

 

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