Director/PDMR Shareholding

RNS Number : 1945V

Restaurant Group PLC

13 April 2021

 

Restaurant Group PLC

13^th April 2021

The Restaurant Group plc ('the Company')

Notification of transactions by directors, persons discharging managerial responsibilities ('PDMRs') and connected persons

On 12 April 2021, the Company made the following conditional awards of nil cost options ('Awards') under The Restaurant Group Restricted Share Plan ('RSP'). Awards have been granted over ordinary shares of 28 1/8 pence each in the share capital of the Company ('Shares') to Directors and Persons Discharging Managerial Responsibility ('PDMR'):

Name	Job title	Number of Shares under options granted pursuant to RSP Award
Andy Hornby	Chief Executive Officer	496,062
Kirk Davis	Chief Financial Officer	290,820

The above Awards were calculated using a price of 127 pence per Share (being the average of the closing middle market quotations during the period of 5 dealing days ending with the dealing day before the Grant Date).

Vesting of all the RSP Awards is subject to the continued employment of participants and satisfaction of the following underpin condition in respect of 100% of an Award: that the Group's underlying performance and delivery against its strategy (which may change in response to cyclical and structural changes over time) is sufficient to justify the level of vesting having regard to such factors as the Remuneration Committee considers to be appropriate in the round. In normal circumstances, such factors will include the Company's financial performance, balance sheet strength and performance against environmental, social and corporate governance priorities set by the Remuneration Committee from time to time.

A second underpin condition also applies in respect of 50% of an Award: that EBITDA in 2023 is at least £100m (with EBITDA assessed by the Committee on such basis as it considers reasonable and adjusted for material acquisitions and disposals).

The Awards will normally vest (subject to the underpin conditions outlined above) in full after 3 years. Awards held by the Executive Directors will also be subject to a 2-year holding period ending on the 5^th anniversary of the grant. During that period, the Executive Directors will ordinarily be required to retain the net of tax number of vested Shares.

The Awards were made in accordance with the Company's remuneration policy.

The relevant notifications set out below is provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation. 

1.	Details of PDMR / person closely associated with them ("PCA")
a)	Name	1.  Andy Hornby 2.  Kirk Davis
2.	Reason for the notification
a)	Position / status	1.  Chief Executive Officer 2.  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 Restaurant Group plc
b)	LEI	213800V4LJ2FXMQKKA46
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	Ordinary shares of £0.28125 each ISIN Code: GB00B0YG1K06
b)	Nature of the transaction	Awards over shares granted pursuant to The Restaurant Group Restricted Share Plan.
c)	Price(s) and volume(s)	Price(s) Volume(s) 1.  Nil consideration 2.  Nil consideration 1. 496,062 2. 290,820
d)	Aggregated information Aggregated volume Price	N/A (single transactions)
e)	Date of the transaction	12 April 2021
f)	Place of the transaction	Outside a trading venue

For further details please contact:

MHP Communications (Financial PR adviser) Oliver Hughes Simon Hockridge

Tel: [phone]

 

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