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Director/PDMR Shareholding

09 November 2020 - 07:00
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 of each part of the award that will vest

TSR

Relative TSR compared to the FTSE SmallCap Excluding Investment Trusts

**Cashflow delivered over 2020/21, 2021/22 and 2022/23

Weighting

 

50%

50%

Below threshold

0%

Ranking below median

Below £121.4m

Threshold*

25%

Ranking at median

At least £121.4m

Maximum*

100%

Ranking at upper quartile or above

At least £191.4m

*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 /Amendment

 

 

Initial Notification

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 financial instrument, type of instrument

Nil cost options over Ordinary shares of 11 1/19 pence



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 /Amendment

 

 

Initial Notification

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 financial instrument, type of instrument

Nil cost options over Ordinary shares of 11 1/19 pence



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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END
 
 
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Provided by: RNS
London AIM (United Kingdom)
N Brown Group Plc
N Brown is a top 10 UK clothing & footwear digital retailer, focusing on the needs of the under-served customer groups....
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