For Immediate Release
18 August 2022
Naked Wines plc
(the "Company")
Grant of stock option awards under new long term incentive plan
Naked Wines plc announces that the following stock option awards have been granted under the Company's new Long Term Incentive Plan to certain staff:
3,257,990 Stock Options with a strike price of 157.50 pence per option
The awards have been issued under the recently approved new LTIP and transition award proposal approved at the July 25th 2022 AGM following shareholder consultation. The LTIP awards will vest as follows, subject to the continued employment of the participant: 25% after one year and 6.25% quarterly thereafter. The malus and clawback provisions set forth in the LTIP Plan rules are applicable to all awards.
Included in the list of employees the below PDMR (Person Discharging Managerial Responsibilities) and PCA (Person Closely Associated with a PDMR) received the following awards:
| Name | Title | Total Number of Stock Options conditionally awarded | Total Number of Stock Options + Ordinary Shares held subject to LTIP and SIP awards |
| Nicholas Devlin | Chief Executive Officer | 173,684 (2)(4) | 519,849 (3) |
| Lucy Devlin (1) | VP Planning, Procurement & Customer Experience | 56,161 (2) | 97,180 (3) |
| James Crawford | Interim Chief Financial Officer Naked Wines plc | 144,444 | 371,039 |
| Alicia Kennedy | Chief Operating Officer Naked Wines plc | 173,684 | 292,580 |
(1) Lucy Devlin is a PCA with Nicholas Devlin
(2) The total number of Stock Options conditionally awarded to Nicholas Devlin and Lucy Devlin amounts in aggregate to 229,845.
(3) The total number of Stock Options + Ordinary Shares held by Nicholas Devlin and Lucy Devlin subject to LTIP and SIP awards amounts in aggregate 617,029.
(4) Nicholas Devlin's Stock options are subject to additional vesting criteria -- (i) he must hold the options for at least three years and (ii) the share price must exceed 400p (for any one-month average) before he may exercise his options.
No new Ordinary Shares have been issued as a result of these grants.
There are 4,433,731 unvested stock options and conditional share awards under the Company's employee share schemes, equating to approximately 8% of the issued ordinary share capital of the Company.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them:
DIRECTOR/PDMR SHAREHOLDING
| 1 | Details of the person discharging managerial responsibilities/person closely associated |
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| a) | Name
| 1) Nicholas Devlin (PDMR) 2) Lucy Devlin (PCA) 3) James Crawford (PDMR) 4) Alicia Kennedy (PDMR) | | |||||||||||
| 2 | Reason for the notification |
| ||||||||||||
| a) | Position/status
| 1) 1) Chief Executive Officer, Naked Wines plc 2) 3) 2) VP Planning, Procurement & Customer Experience, Nakedwines.com, Inc. 4) 5) 3) Interim Chief Financial Officer, Naked Wines plc 6) 7) 4) Chief Operating Officer, Naked Wines plc 8)
| | |||||||||||
| b) | Initial notification/ Amendment | Initial Notification | | |||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
| ||||||||||||
| a) | Name | Naked Wines plc | | |||||||||||
| b) | LEI | 213800IYPFIRRQQE9R62 | | |||||||||||
| 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 Identification code | Stock Options with a strike price of 157.50 pence per option |
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| b) | Nature of the transaction | Grant of conditional stock option awards under the Company's LTIP to (1) PDMRs and (2) PCA with PDMR |
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| c) | Price(s) and volume(s)
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| d) | Aggregated information - Aggregated volume - Exercise Price |
547,973 £863,057.48 |
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| e) | Date of the transaction | 12 August 2022 |
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| f) | Place of the transaction | London Stock Exchange (XLON); AIM Market |
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For further information, please contact:
| Naked Wines plc Nick Devlin, Chief Executive Officer
| ir@nakedwines.com |
| Investec David Flin / Carlton Nelson / Ben Farrow
| Tel: 0207 597 5970 |
| Jefferies International Limited Ed Matthews / David Genis / Harry Clements | Tel: 0207 029 8000 |
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