09 August 2022
N BROWN GROUP PLC - GRANT OF NIL COST OPTIONS
N Brown Group plc announces that on 08 August 2022 nil cost options were granted to its Chief Executive Officer, Steve Johnson, over 2,613,625 shares and its Chief Financial Officer, Rachel Izzard, over 1,793,664 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 25.50 pence.
The performance conditions and targets for the 2022 Awards are as follows:
| | Percentage of each part of the award that will vest | Adjusted EPS as at the end of FY25
|
| Below threshold | 0% | Less than 6.6 pence |
| Threshold* | 25% | 6.6 pence |
| Maximum* | 100% | 9.5 pence and above |
*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 UK 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 | 2,613,625 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | N/A- single transaction | ||||
| | | ||||
| - Price | | ||||
| | | ||||
| e)
| Date of the transaction
| 08 August 2022 | |||
| 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 | 1,793,664 | | |
| | | | | | |
| d)
| Aggregated information | | |||
| | | ||||
| - Aggregated volume | N/A- single transaction | ||||
| | | ||||
| - Price | | ||||
| | | ||||
| e)
| Date of the transaction
| 08 August 2022 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
For further information:
Michael Mustard
General Counsel and Company Secretary, N Brown Group plc
+44(0)161 238 2298
Shore Capital - Nomad and Broker
Stephane Auton / Daniel Bush / John More
+44(0) 20 7408 4090
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
