Brown (N.) Group PLC Director/PDMR Shareholding (0471H)
August 12 2016 - 3:56AM
UK Regulatory
TIDMBWNG
RNS Number : 0471H
Brown (N.) Group PLC
12 August 2016
N Brown Group plc
("N Brown" or the "Company")
Grant of nil cost options
N Brown announces that on 10(th) August 2016 nil cost options
were granted to its Chief Executive, Angela Spindler over 472,063
shares and its Group Chief Financial Officer, Craig Lovelace over
243,125 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 172.75 pence.
The performance conditions and targets for the 2016 awards are
therefore as follows:
Percentage Annual growth Free cashflow Annual
of each in adjusted is defined growth
part of EPS in excess as cashflow in total
the award of RPI over generated revenue
that will 3 financial from operations over 3
vest years excluding financial
receivables. years
Targets are
cumulative
over 3 financial
years
------------ ------------ --------------- ------------------ -----------
Weighting 50% 30% 20%
-------------------------- --------------- ------------------ -----------
Below 0% Less than Less than Less than
threshold RPI +2.5% GBP370m 5% CAGR
------------ ------------ --------------- ------------------ -----------
Threshold* 25% At least At least GBP370m At least
RPI +2.5% 5% CAGR
------------ ------------ --------------- ------------------ -----------
Maximum* 100% At least At least GBP450m At least
RPI +9% 9% 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 Initial notification
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
--- ------------------ --------------------------------------
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 the financial of 11 1/19 pence
instrument, ISIN: GB00B1P6ZR11
type of
instrument
Identification
code
--- ------------------ --------------------------------------
b) Nature of Grant of options
the transaction
--- ------------------ --------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ---------- ----------
Nil Cost
Options 472,063
---------- ----------
--- ------------------ --------------------------------------
d) Aggregated
information N/A - single transaction
- Aggregated
volume
- Price
--- ------------------ --------------------------------------
e) Date of 10 August 2016
the transaction
--- ------------------ --------------------------------------
f) Place of London Stock Exchange, Main Market
the 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 Initial notification
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
--- ------------------ --------------------------------------
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 the financial of 11 1/19 pence
instrument, ISIN: GB00B1P6ZR11
type of
instrument
Identification
code
--- ------------------ --------------------------------------
b) Nature of Grant of options
the transaction
--- ------------------ --------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) ---------- ----------
Nil Cost
Options 243,125
---------- ----------
--- ------------------ --------------------------------------
d) Aggregated
information N/A - single transaction
- Aggregated
volume
- Price
--- ------------------ --------------------------------------
e) Date of 10 August 2016
the transaction
--- ------------------ --------------------------------------
f) Place of London Stock Exchange, Main Market
the transaction
--- ------------------ --------------------------------------
- Ends -
For further information:
ENQUIRIES: Daniel Cropper 0161 238 2726
This information is provided by RNS
The company news service from the London Stock Exchange
END
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