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: +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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