Brown (N.) Group PLC Director/PDMR Shareholding (5821E)
November 09 2020 - 1:00AM
UK Regulatory
TIDMBWNG
RNS Number : 5821E
Brown (N.) Group PLC
09 November 2020
09 November 2020
N BROWN GROUP PLC - GRANT OF NIL COST OPTIONS
N Brown Group plc announces that on 06 November 2020 nil cost
options were granted to its Chief Executive Officer, Steve Johnson,
over 979,882 shares and its Chief Financial Officer, Rachel Izzard,
over 672,468 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 55.3 pence. In
deference to the current share price of the Company, the Award has
been scaled back by 15%.
The performance conditions and targets for the 2020 Awards are
as follows:
Percentage TSR **Cashflow delivered
of each part Relative TSR compared over 2020/21, 2021/22
of the award to the FTSE SmallCap and 2022/23
that will Excluding Investment
vest Trusts
Weighting 50% 50%
----------------------- -----------------------
Below threshold 0% Ranking below median Below GBP121.4m
--------------- ----------------------- -----------------------
Threshold* 25% Ranking at median At least GBP121.4m
--------------- ----------------------- -----------------------
Maximum* 100% Ranking at upper At least GBP191.4m
quartile or above
--------------- ----------------------- -----------------------
*For performance that is between the threshold and maximum
levels, awards vest on a straight-line basis.
** Cashflow is defined as net cash generated by the business
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 Stephen Johnson
--------------------------------- --------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------
a) Position/status CEO, N Brown Group Plc
--------------------------------- --------------------------------------------
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 of the Nil cost options over Ordinary shares
financial instrument, of 11 1/19 pence
type of instrument
Identification code GB00B1P6ZR11
b) Nature of the transaction Grant of options
--------------------------------- --------------------------------------------
c) Price(s) and volume(s)
-------------------------- -------------
Price(s) Volume(s)
-------------------------- -------------
Nil cost options 979,882
----------------------------------------------------------------- -------------
d) Aggregated information
- Aggregated volume N/A- single transaction
- Price
e) Date of the transaction 06 November 2020
--------------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Rachel Izzard
--------------------------------- --------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------
a) Position/status CFO, N Brown Group Plc
--------------------------------- --------------------------------------------
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 of the Nil cost options over Ordinary shares
financial instrument, of 11 1/19 pence
type of instrument
Identification code GB00B1P6ZR11
b) Nature of the transaction Grant of options
--------------------------------- --------------------------------------------
c) Price(s) and volume(s)
-------------------------- -------------
Price(s) Volume(s)
-------------------------- -------------
Nil cost options 672,468
----------------------------------------------------------------- -------------
d) Aggregated information
- Aggregated volume N/A- single transaction
- Price
e) Date of the transaction 06 November 2020
--------------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------- --------------------------------------------
For enquiries, please contact: Theresa Casey, Company Secretary
and General Counsel, N Brown Group Plc
Tel: +44 (0)161 238 2208
Registered office:
Griffin House
40 Lever Street
Manchester
M60 6ES
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