REG - Marston's Plc - Director/PDMR Shareholding

Marston'sAnnouncement

07/12/2021 11:15

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RNS Number : 8412U  Marston's PLC  07 December 2021

7 December 2021

 

Notification of interests of directors and persons discharging managerial
responsibilities

 

Marston's PLC (the "Company") announces that on 6 December 2021 the Directors
listed below were granted awards over ordinary shares in the Company under the
Company's 2014 Long Term Incentive Plan (the "Plan").  The number of awards
granted on 6 December 2021 was calculated using the market price at the close
of trading on the London Stock Exchange on 3 December 2021, being £0.6705
per ordinary share.

 

Awards under the Plan are structured as Approved Performance Share Plan Awards
("APSP Awards") and comprise three elements: (i) an HMRC Tax Qualifying Option
over shares with a total value at the date of grant of £30,000 with an
exercise price of £0.6705 per share; (ii) a "Linked Award" which is,
principally, a funding award in the form of a nil cost option (i.e. in the
form of an LTIP Award) over such number of shares whose total value at
exercise equals £30,000; and (iii) an LTIP Award in the form of a nil cost
option over shares to the value of the remainder of the APSP Award above the
£30,000 limit.

 

The awards will vest subject to the satisfaction of performance metrics which
are based on Underlying Profit Before Tax (as regards 40% of the award), Net
Cash Flow (as regards 40% of the award) and Relative Total Shareholder Return
(as regards 20% of the award) assessed over the Company's 2021/22, 2022/23 and
2023/24 financial periods, details of which will be set out in the Company's
Annual Report for the period ended 2 October 2021. To the extent an award
vests, it will be released (so that the participant is entitled to acquire the
shares) following the end of a further two-year holding period.

 

In addition to satisfaction of these performance conditions, the Tax
Qualifying Option will only become exercisable if the market value of a share
at exercise is greater than 67.05 pence per share.  If the market value at
exercise is less than £0.6705 per share, the Tax Qualifying Option will lapse
and the maximum number of shares subject to the Linked Award will become
available to the participant to exercise as an unapproved LTIP option.

 

Appropriate provisions have been included in the terms of the awards to enable
the Remuneration Committee to adjust the vesting outturn having regard to any
"windfall gain".

 

 

 Name             Designation  Number of shares subject to APSP Award (Tax Qualifying Option and LTIP Award)  Maximum number of Shares subject to Linked Award
 Andrew Andrea    Director     1,123,322                                                                      44,742
 Hayleigh Lupino  Director     720,078                                                                        44,742

 

 

 

 

Enquiries:

Anne-Marie Brennan, Group Secretary, Marston's PLC, +44 (0) 1902 329163

 

 

Notification of Dealing Form

 

 1.  Details of the Person Discharging Managerial Responsibility ("PDMR")/person
     closely associated with them ("PCA")
 a)  Name                                     Andrew Andrea

 2.  Reason for the notification
 a)  Position/status                          Director and PDMR (Chief Executive Officer)

 b)  Initial notification/ amendment          Initial Notification
 3.  Details of the Issuer
 a)  Name                                     Marston's PLC
 b)  LEI code                                 213800Q6RP3ZJ2CZR962
 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 7.375 pence each

     Identification code

                                              ISIN: GB00B1JQDM80
 b)  Nature of the transaction                Grant of award under the Long Term Incentive Plan in the form of nil-cost
                                              options and a Tax Qualifying Option at an exercise price of £0.6705 per
                                              share.
 c)  Price(s) and volumes(s)

Price                       Volume
                                              Nil cost option: N/A        1,078,580
                                              Tax Qualifying Option: N/A  44,742
 d)  Aggregated information

     -   Aggregate volume

                                              N/A

     -   Price
 e)  Date of the transaction                  2021-12-06
 f)  Place of the transaction                 Outside a trading venue

d)

Aggregated information

-   Aggregate volume

 

-   Price

 

 

N/A

 

e)

Date of the transaction

2021-12-06

f)

Place of the transaction

Outside a trading venue

 

 

 1.  Details of the Person Discharging Managerial Responsibility ("PDMR")/person
     closely associated with them ("PCA")
 a)  Name                                     Hayleigh Lupino

 2.  Reason for the notification
 a)  Position/status                          Director and PDMR (Chief Financial Officer)

 b)  Initial notification/                    Initial Notification

     amendment
 3.  Details of the Issuer
 a)  Name                                     Marston's PLC
 b)  LEI code                                 213800Q6RP3ZJ2CZR962
 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 7.375 pence each

     Identification code

                                              ISIN: GB00B1JQDM80
 b)  Nature of the transaction                Grant of award under the Long Term Incentive Plan in the form of nil-cost
                                              options and a Tax Qualifying Option at an exercise price of £0.6507 per
                                              share.
 c)  Price(s) and volumes(s)

Price                       Volume
                                              Nil cost option: N/A        675,336
                                              Tax Qualifying Option: N/A  44,742
 d)  Aggregated information

     -   Aggregate volume

                                              N/A

     -   Price
 e)  Date of the transaction                  2021-12-06
 f)  Place of the transaction                 Outside a trading venue

d)

Aggregated information

-   Aggregate volume

 

-   Price

 

 

N/A

 

e)

Date of the transaction

2021-12-06

f)

Place of the transaction

Outside a trading venue

 

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