C&C Group Plc Director/PDMR Shareholding (3990O)

TIDMCCR

RNS Number : 3990O

C&C Group Plc

10 June 2022

C&C Group plc

('C&C')

2022 Long Term Incentive Plan ('LTIP') Awards

On 9 June 2022, the Company's Executive Directors were granted the following awards under the LTIP, in the form of nil cost options over EUR0.01 ordinary shares in the Company:

 
 Name               Number of shares 
 David Forde        458,023 
                   ----------------- 
 Patrick McMahon    278,796 
                   ----------------- 
 

(1) Calculated using a share price of GBP2.00 (being the mid-market closing price on the day before grant) converted into EUR2.3388 using an exchange rate of GBP1: EUR1.1694.

The awards will vest subject to the satisfaction of performance metrics based on Earnings per Share, Free Cash Flow and an Environmental metric assessed across the three-year performance period FY2023 - FY2025.

The vesting of the awards will be subject to an assessment of the Company's underlying financial performance across the three-year performance period. No award will vest until the end of the full three-year period, and Executive Directors' awards will then be subject to a further two-year holding period.

The details of the performance metrics for the awards are set out below.

Performance conditions

 
 Measure          Weighting   Further detail 
 Earnings per     45%         Threshold - 22.2c 
  share                        Maximum - 26.0c 
 
                               By the end of year 3 target range (end 
                               of FY25) rather than as a cumulative 
                               target. 
                 ----------  ---------------------------------------------- 
 Free cash flow   35%         Threshold - 65% 
 
                               Maximum - 75% 
 
                               By the end of year 3 target range (end 
                               of FY25) rather than as a cumulative 
                               target. 
                 ----------  ---------------------------------------------- 
 Environmental    20%         To give impetus to C&C's de-carbonisation 
                               efforts, the Company has set a target 
                               to reduce its Scope 1 and Scope 2 emissions* 
                               over the next three financial years ending 
                               FY2025. 
 
                               Threshold - 6% reduction 
 
                               Maximum - 12% reduction 
                 ----------  ---------------------------------------------- 
 

* Scope 1: direct emissions from owned or controlled sources, which includes emissions from company-owned or operated facilities and vehicles.

Scope 2: indirect emissions from the generation of purchased energy e.g. electricity, steam, heat and cooling.

In each case, threshold vesting will be 25% of the maximum.

Notification of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them

This form is required for disclosure of transactions under Article 19 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation)

 
 1     Details of the person discharging managerial responsibilities/person 
        closely associated 
 a)    Name                     David Forde 
      -----------------------  ----------------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------ 
 a)    Position/status          Person discharging managerial responsibilities 
                                 (Chief Executive Officer) 
      -----------------------  ----------------------------------------------- 
 b)    Initial Notification     Initial Notification 
        Amendment 
      -----------------------  ----------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------ 
 a)    Name                     C&C Group plc 
      -----------------------  ----------------------------------------------- 
 b)    LEI                      635400LNUHA2LDXXV850 
      -----------------------  ----------------------------------------------- 
 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              Ordinary Shares of EUR0.01 each 
        of the financial 
        instrument,              ISIN: IE00B010DT83 
        type of 
        instrument 
        Identification 
        code 
      -----------------------  ----------------------------------------------- 
 b)    Nature of                Grant of options under the C&C 2015 Long Term 
        the transaction          Incentive Plan 
      -----------------------  ----------------------------------------------- 
 c)    Price(s)                   Price(s)    Volume(s) 
        and volume(s)              Nil         458,023 
                                              ---------- 
      -----------------------  ----------------------------------------------- 
 d)    Aggregated 
        information              Same as c) 
        - Aggregated 
        volume 
        - Price 
      -----------------------  ----------------------------------------------- 
       Date of the 
 e)     transaction                  09/06/2022 
      -----------------------  ----------------------------------------------- 
 f)    Place of                 Outside a trading venue 
        the transaction 
      -----------------------  ----------------------------------------------- 
 

Notification of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them

This form is required for disclosure of transactions under Article 19 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation)

 
 1     Details of the person discharging managerial responsibilities/person 
        closely associated 
 a)    Name                     Patrick McMahon 
      -----------------------  ----------------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------ 
 a)    Position/status          Person discharging managerial responsibilities 
                                 (Chief Financial Officer) 
      -----------------------  ----------------------------------------------- 
 b)    Initial Notification     Initial Notification 
        Amendment 
      -----------------------  ----------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------ 
 a)    Name                     C&C Group plc 
      -----------------------  ----------------------------------------------- 
 b)    LEI                      635400LNUHA2LDXXV850 
      -----------------------  ----------------------------------------------- 
 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              Ordinary Shares of EUR0.01 each 
        of the financial 
        instrument,              ISIN: IE00B010DT83 
        type of 
        instrument 
        Identification 
        code 
      -----------------------  ----------------------------------------------- 
 b)    Nature of                Grant of options under the C&C 2015 Long Term 
        the transaction          Incentive Plan 
      -----------------------  ----------------------------------------------- 
 c)    Price(s)                   Price(s)    Volume(s) 
        and volume(s)              Nil         278,796 
                                              ---------- 
      -----------------------  ----------------------------------------------- 
 d)    Aggregated 
        information              Same as c) 
        - Aggregated 
        volume 
        - Price 
      -----------------------  ----------------------------------------------- 
       Date of the 
 e)     transaction                  09/06/2022 
      -----------------------  ----------------------------------------------- 
 f)    Place of                 Outside a trading venue 
        the transaction 
      -----------------------  ----------------------------------------------- 
 

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June 10, 2022 02:01 ET (06:01 GMT)