Brown (N.) Group PLC Director/PDMR Shareholding (8548Y)
August 24 2018 - 7:48AM
UK Regulatory
TIDMBWNG
RNS Number : 8548Y
Brown (N.) Group PLC
24 August 2018
N Brown Group plc
("N Brown" or the "Company")
Grant of nil cost options
N Brown announces that on 22 August 2018 nil cost options were
granted to its Chief Executive, Angela Spindler over 454,519 shares
and its Group Chief Financial Officer, Craig Lovelace over 238,771
shares ("Awards") under the terms of the N Brown Group plc 2014
Long-Term Incentive Plan.
The number of shares placed under Award was based on the closing
mid-market price for the preceding day which was 140 pence.
The performance conditions and targets for the 2018 Awards are
therefore as follows:
Percentage Annual growth Free cashflow Annual growth
of each part in adjusted is defined in total
of the award EPS in excess as cashflow revenue
that will of CAGR (compound generated from over 3 financial
vest annual growth operations years
rate) over excluding receivables.
3 financial Targets are
years cumulative
over 3 financial
years
Weighting 50% 30% 20%
------------------- ------------------------ ------------------
Below threshold 0% Less than CAGR Less than GBP350m Less than
+3% 3% CAGR
--------------- ------------------- ------------------------ ------------------
Threshold* 25% At least CAGR At least GBP350m At least
+3% 3% CAGR
--------------- ------------------- ------------------------ ------------------
Maximum* 100% At least CAGR At least GBP420m At least
+8% 5% CAGR
--------------- ------------------- ------------------------ ------------------
*For performance that is between the threshold and maximum
levels, awards vest on a straight-line basis.
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation, provides further detail.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Angela Spindler
--------------------- -------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status Chief Executive
--------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name N Brown Group plc
--------------------- -------------------------------------------------
b) LEI 213800QFPJQF2NUVAP09
--------------------- -------------------------------------------------
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 Nil cost options over Ordinary Shares of 11 1/19
of the financial pence
instrument, ISIN: GB00B1P6ZR11
type of instrument
Identification
code
--------------------- -------------------------------------------------
b) Nature of the Grant of options
transaction
--------------------- -------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil Cost
Options 454,519
----------
--------------------- -------------------------------------------------
d) Aggregated
information N/A - single transaction
- Aggregated
volume
- Price
--------------------- -------------------------------------------------
e) Date of the 22 August 2018
transaction
--------------------- -------------------------------------------------
f) Place of the London Stock Exchange, Main Market
transaction
--------------------- -------------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Craig Lovelace
--------------------- -------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status Group Chief Financial Officer
--------------------- -------------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------- -------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name N Brown Group plc
--------------------- -------------------------------------------------
b) LEI 213800QFPJQF2NUVAP09
--------------------- -------------------------------------------------
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 Nil cost options over Ordinary Shares of 11 1/19
of the financial pence
instrument, ISIN: GB00B1P6ZR11
type of instrument
Identification
code
--------------------- -------------------------------------------------
b) Nature of the Grant of options
transaction
--------------------- -------------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil Cost
Options 238,771
----------
--------------------- -------------------------------------------------
d) Aggregated
information N/A - single transaction
- Aggregated
volume
- Price
--------------------- -------------------------------------------------
e) Date of the 22 August 2018
transaction
--------------------- -------------------------------------------------
f) Place of the London Stock Exchange, Main Market
transaction
--------------------- -------------------------------------------------
- Ends -
For further information:
ENQUIRIES: Theresa Casey, 0161 238 2298
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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