Brown (N.) Group PLC Director/PDMR Shareholding (0471H)

TIDMBWNG

RNS Number : 0471H

Brown (N.) Group PLC

12 August 2016

N Brown Group plc

("N Brown" or the "Company")

Grant of nil cost options

N Brown announces that on 10(th) August 2016 nil cost options were granted to its Chief Executive, Angela Spindler over 472,063 shares and its Group Chief Financial Officer, Craig Lovelace over 243,125 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 172.75 pence.

The performance conditions and targets for the 2016 awards are therefore as follows:

 
               Percentage    Annual growth      Free cashflow       Annual 
                 of each       in adjusted        is defined        growth 
                 part of      EPS in excess      as cashflow       in total 
                the award      of RPI over        generated         revenue 
                that will      3 financial     from operations      over 3 
                   vest           years           excluding        financial 
                                                 receivables.        years 
                                                 Targets are 
                                                  cumulative 
                                               over 3 financial 
                                                    years 
------------  ------------  ---------------  ------------------  ----------- 
 Weighting                        50%                30%             20% 
--------------------------  ---------------  ------------------  ----------- 
 Below             0%          Less than          Less than       Less than 
  threshold                     RPI +2.5%          GBP370m          5% CAGR 
------------  ------------  ---------------  ------------------  ----------- 
 Threshold*        25%          At least      At least GBP370m     At least 
                                RPI +2.5%                           5% CAGR 
------------  ------------  ---------------  ------------------  ----------- 
 Maximum*         100%          At least      At least GBP450m     At least 
                                 RPI +9%                            9% CAGR 
------------  ------------  ---------------  ------------------  ----------- 
 

*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 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                Angela Spindler 
---  ------------------  -------------------------------------- 
 2    Reason for the notification 
---  ---------------------------------------------------------- 
 a)   Position/status     Chief Executive 
---  ------------------  -------------------------------------- 
 b)   Initial             Initial notification 
       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 
---  ------------------  -------------------------------------- 
 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         Nil cost options over Ordinary Shares 
       of the financial    of 11 1/19 pence 
       instrument,         ISIN: GB00B1P6ZR11 
       type of 
       instrument 
       Identification 
       code 
---  ------------------  -------------------------------------- 
 b)   Nature of           Grant of options 
       the transaction 
---  ------------------  -------------------------------------- 
 c)   Price(s)              Price(s)    Volume(s) 
       and volume(s)        ----------  ---------- 
                             Nil Cost 
                              Options     472,063 
                            ----------  ---------- 
---  ------------------  -------------------------------------- 
 d)   Aggregated 
       information         N/A - single transaction 
       - Aggregated 
       volume 
       - Price 
---  ------------------  -------------------------------------- 
 e)   Date of             10 August 2016 
       the transaction 
---  ------------------  -------------------------------------- 
 f)   Place of            London Stock Exchange, Main Market 
       the transaction 
---  ------------------  -------------------------------------- 
 
 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ---------------------------------------------------------- 
 a)   Name                Craig Lovelace 
---  ------------------  -------------------------------------- 
 2    Reason for the notification 
---  ---------------------------------------------------------- 
 a)   Position/status     Group Chief Financial Officer 
---  ------------------  -------------------------------------- 
 b)   Initial             Initial notification 
       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 
---  ------------------  -------------------------------------- 
 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         Nil cost options over Ordinary Shares 
       of the financial    of 11 1/19 pence 
       instrument,         ISIN: GB00B1P6ZR11 
       type of 
       instrument 
       Identification 
       code 
---  ------------------  -------------------------------------- 
 b)   Nature of           Grant of options 
       the transaction 
---  ------------------  -------------------------------------- 
 c)   Price(s)              Price(s)    Volume(s) 
       and volume(s)        ----------  ---------- 
                             Nil Cost 
                              Options     243,125 
                            ----------  ---------- 
---  ------------------  -------------------------------------- 
 d)   Aggregated 
       information         N/A - single transaction 
       - Aggregated 
       volume 
       - Price 
---  ------------------  -------------------------------------- 
 e)   Date of             10 August 2016 
       the transaction 
---  ------------------  -------------------------------------- 
 f)   Place of            London Stock Exchange, Main Market 
       the transaction 
---  ------------------  -------------------------------------- 
 

- Ends -

For further information:

ENQUIRIES: Daniel Cropper 0161 238 2726

This information is provided by RNS

The company news service from the London Stock Exchange

END

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August 12, 2016 04:56 ET (08:56 GMT)