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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Mitchells & Butlers Plc | LSE:MAB | London | Ordinary Share | GB00B1FP6H53 | ORD 8 13/24P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 3.00 | 1.19% | 255.50 | 255.50 | 257.00 | 258.50 | 252.00 | 252.00 | 143,543 | 16:35:10 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Drinking Places (alcoholic) | 2.5B | -4M | -0.0067 | -382.09 | 1.52B |
From May 2019 to May 2024
TIDMMAB
RNS Number : 9435I
Mitchells & Butlers PLC
29 November 2018
29 November 2018
Mitchells & Butlers plc
LEI no. 213800JHYNDNB1NS2W10
Director/PDMR Shareholding
This notification has been made in accordance with the requirements of the EU Market Abuse Regulation.
Hot Features
Premium
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Phil Urban
---------------- -------------------------------------------------------------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------------------------
a) Position/status Director
---------------- -------------------------------------------------------------------------------------------------
b) Initial Initial notification
notification
/Amendment
---------------- -------------------------------------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------------------------------------
a) Name Mitchells & Butlers plc
---------------- -------------------------------------------------------------------------------------------------
b) LEI 213800JHYNDNB1NS2W10
---------------- -------------------------------------------------------------------------------------------------
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 Ordinary shares in Mitchells & Butlers
the plc (Shares)
financial
instrument,
type of GB00B1FP6H53
instrument
Identification
code
---------------- -------------------------------------------------------------------------------------------------
b) Nature of the Option granted to Director on 28 November
transaction 2018 in respect of the FY 2019-2021 performance
cycle for the 2013 Performance Restricted
Share Plan.
This option will be exercisable for the
two-year period following the end of
the performance cycle, subject to the
satisfaction of performance conditions
and on payment of the option exercise
price of a nominal GBP1. The maximum
Share entitlement on satisfaction of
the performance conditions in full is
shown in (c) below (excluding any dividend
accrued shares that may be received by
the participant in respect of any Shares
that vest under the option).
The performance conditions are such that; - 75% of the award is linked to the
achievement of cumulative Operating
Cashflow targets in the period 2019/21;
and
- 25% is linked to Total Shareholder
Return (TSR) compared to that of
a peer group comprising EI Group,
Greene King, Marston's, The Restaurant
Group and Wetherspoon (JD) over the
period 2019/21.
The cashflow definition that will be
used as a measure in the plan is "Operating
Cash Flow before adjusted items, movements
in working capital and additional pension
contributions".
The cashflow targets, which have been
set on a cumulative basis, are as follows: Operating Cash Flow Vesting of this
2019-2021 element
Less than GBP1,332m Nil
-----------------
GBP1,332m 25%
-----------------
Between GBP1,332m and Straight line
GBP1,362m between 25% and
100%
-----------------
GBP1,362m or greater 100%
-----------------
The TSR targets are as follows: M&B's TSR versus the Peer Group Vesting of this element
Below TSR of median ranked company Nil
--------------------------
At TSR of median ranked company 25%
--------------------------
Between TSR of median ranked company Straight line between 25%
and TSR of median ranked company and 100%
plus 8.5% p.a.
--------------------------
At TSR of median ranked company
plus 8.5% p.a. or higher* 100%
--------------------------
* The margin of out-performance of the
TSR of the median ranked company shall
be calculated on a compound basis.
The TSR element of the award is subject
to a share price underpin and awards
may only be exercised where the Mitchells
& Butlers share price has equalled or
exceeded the share price at the date
of the award within six months of the
vesting date. If this condition is not
met, then the TSR related award lapses.
Subject to a dividend being paid or payable,
and once, and to the extent that, the
shares under the option granted have
vested, the participant will be granted
a further option over Dividend Accrued
Shares.
In accordance with the Company's Remuneration
Policy, a post vesting holding period
applies which requires Shares received
pursuant to such awards to be retained
for a period of two years from the end
of the vesting period, except for Shares
sold to pay income tax and national insurance
contributions arising upon exercise/vesting.
---------------- -------------------------------------------------------------------------------------------------
c) Price(s) and The option is granted over a maximum
volume(s) of 375,000 Shares. The share price used
to determine the number of Shares under
option was GBP2.72 per Share (being the
middle market quotation of a Share for
27 November 2018).
No amount was payable on the grant of
the option.
---------------- -------------------------------------------------------------------------------------------------
d) Aggregated
information N/A (single transaction)
- Aggregated
volume
- Price
---------------- -------------------------------------------------------------------------------------------------
e) Date of the 28 November 2018
transaction
---------------- -------------------------------------------------------------------------------------------------
f) Place of the n/a
transaction
---------------- -------------------------------------------------------------------------------------------------
Enquiries:
Denise Burton
Deputy Company Secretary
0121 498 6514
29 November 2018
Mitchells & Butlers plc
LEI no. 213800JHYNDNB1NS2W10
Director/PDMR Shareholding
This notification has been made in accordance with the requirements of the EU Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Tim Jones
---------------- -------------------------------------------------------------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------------------------
a) Position/status Director
---------------- -------------------------------------------------------------------------------------------------
b) Initial Initial notification
notification
/Amendment
---------------- -------------------------------------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------------------------------------
a) Name Mitchells & Butlers plc
---------------- -------------------------------------------------------------------------------------------------
b) LEI 213800JHYNDNB1NS2W10
---------------- -------------------------------------------------------------------------------------------------
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 Ordinary shares in Mitchells & Butlers
the plc (Shares)
financial
instrument,
type of GB00B1FP6H53
instrument
Identification
code
---------------- -------------------------------------------------------------------------------------------------
b) Nature of the Option granted to Director on 28 November
transaction 2018 in respect of the FY 2019-2021 performance
cycle for the 2013 Performance Restricted
Share Plan.
This option will be exercisable for the
two-year period following the end of
the performance cycle, subject to the
satisfaction of performance conditions
and on payment of the option exercise
price of a nominal GBP1. The maximum
Share entitlement on satisfaction of
the performance conditions in full is
shown in (c) below (excluding any dividend
accrued shares that may be received by
the participant in respect of any Shares
that vest under the option).
The performance conditions are such that; - 75% of the award is linked to the
achievement of cumulative Operating
Cashflow targets in the period 2019/21;
and
- 25% is linked to Total Shareholder
Return (TSR) compared to that of
a peer group comprising EI Group,
Greene King, Marston's, The Restaurant
Group and Wetherspoon (JD) over the
period 2019/21.
The cashflow definition that will be
used as a measure in the plan is "Operating
Cash Flow before adjusted items, movements
in working capital and additional pension
contributions".
The cashflow targets, which have been
set on a cumulative basis, are as follows: Operating Cash Flow Vesting of this
2019-2021 element
Less than GBP1,332m Nil
-----------------
GBP1,332m 25%
-----------------
Between GBP1,332m and Straight line
GBP1,362m between 25% and
100%
-----------------
GBP1,362m or greater 100%
-----------------
The TSR targets are as follows: M&B's TSR versus the Peer Group Vesting of this element
Below TSR of median ranked company Nil
--------------------------
At TSR of median ranked company 25%
--------------------------
Between TSR of median ranked company Straight line between 25%
and TSR of median ranked company and 100%
plus 8.5% p.a.
--------------------------
At TSR of median ranked company
plus 8.5% p.a. or higher* 100%
--------------------------
* The margin of out-performance of the
TSR of the median ranked company shall
be calculated on a compound basis.
The TSR element of the award is subject
to a share price underpin and awards
may only be exercised where the Mitchells
& Butlers share price has equalled or
exceeded the share price at the date
of the award within six months of the
vesting date. If this condition is not
met, then the TSR related award lapses.
Subject to a dividend being paid or payable,
and once, and to the extent that, the
shares under the option granted have
vested, the participant will be granted
a further option over Dividend Accrued
Shares.
In accordance with the Company's Remuneration
Policy, a post vesting holding period
applies which requires Shares received
pursuant to such awards to be retained
for a period of two years from the end
of the vesting period, except for Shares
sold to pay income tax and national insurance
contributions arising upon exercise/vesting.
---------------- -------------------------------------------------------------------------------------------------
c) Price(s) and The option is granted over a maximum
volume(s) of 219,521 Shares. The share price used
to determine the number of Shares under
option was GBP2.72 per Share (being the
middle market quotation of a Share for
27 November 2018).
No amount was payable on the grant of
the option.
---------------- -------------------------------------------------------------------------------------------------
d) Aggregated
information N/A (single transaction)
- Aggregated
volume
- Price
---------------- -------------------------------------------------------------------------------------------------
e) Date of the 28 November 2018
transaction
---------------- -------------------------------------------------------------------------------------------------
f) Place of the n/a
transaction
---------------- -------------------------------------------------------------------------------------------------
Enquiries:
Denise Burton
Deputy Company Secretary
0121 498 6514
29 November 2018
Mitchells & Butlers plc
LEI no. 213800JHYNDNB1NS2W10
Director/PDMR Shareholding
This notification has been made in accordance with the requirements of the EU Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Gary John
---------------- -------------------------------------------------------------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------------------------
a) Position/status PDMR
---------------- -------------------------------------------------------------------------------------------------
b) Initial Initial notification
notification
/Amendment
---------------- -------------------------------------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------------------------------------
a) Name Mitchells & Butlers plc
---------------- -------------------------------------------------------------------------------------------------
b) LEI 213800JHYNDNB1NS2W10
---------------- -------------------------------------------------------------------------------------------------
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 Ordinary shares in Mitchells & Butlers
the plc (Shares)
financial
instrument,
type of GB00B1FP6H53
instrument
Identification
code
---------------- -------------------------------------------------------------------------------------------------
b) Nature of the Option granted to PDMR on 28 November
transaction 2018 in respect of the FY 2019-2021 performance
cycle for the 2013 Performance Restricted
Share Plan.
This option will be exercisable for the
two-year period following the end of
the performance cycle, subject to the
satisfaction of performance conditions
and on payment of the option exercise
price of a nominal GBP1. The maximum
Share entitlement on satisfaction of
the performance conditions in full is
shown in (c) below (excluding any dividend
accrued shares that may be received by
the participant in respect of any Shares
that vest under the option).
The performance conditions are such that; - 75% of the award is linked to the
achievement of cumulative Operating
Cashflow targets in the period 2019/21;
and
- 25% is linked to Total Shareholder
Return (TSR) compared to that of
a peer group comprising EI Group,
Greene King, Marston's, The Restaurant
Group and Wetherspoon (JD) over the
period 2019/21.
The cashflow definition that will be
used as a measure in the plan is "Operating
Cash Flow before adjusted items, movements
in working capital and additional pension
contributions".
The cashflow targets, which have been
set on a cumulative basis, are as follows: Operating Cash Flow Vesting of this
2019-2021 element
Less than GBP1,332m Nil
-----------------
GBP1,332m 25%
-----------------
Between GBP1,332m and Straight line
GBP1,362m between 25% and
100%
-----------------
GBP1,362m or greater 100%
-----------------
The TSR targets are as follows: M&B's TSR versus the Peer Group Vesting of this element
Below TSR of median ranked company Nil
--------------------------
At TSR of median ranked company 25%
--------------------------
Between TSR of median ranked company Straight line between 25%
and TSR of median ranked company and 100%
plus 8.5% p.a.
--------------------------
At TSR of median ranked company
plus 8.5% p.a. or higher* 100%
--------------------------
* The margin of out-performance of the
TSR of the median ranked company shall
be calculated on a compound basis.
The TSR element of the award is subject
to a share price underpin and awards
may only be exercised where the Mitchells
& Butlers share price has equalled or
exceeded the share price at the date
of the award within six months of the
vesting date. If this condition is not
met, then the TSR related award lapses.
Subject to a dividend being paid or payable,
and once, and to the extent that, the
shares under the option granted have
vested, the participant will be granted
a further option over Dividend Accrued
Shares.
---------------- -------------------------------------------------------------------------------------------------
c) Price(s) and The option is granted over a maximum
volume(s) of 91,910 Shares. The share price used
to determine the number of Shares under
option was GBP2.72 per Share (being the
middle market quotation of a Share for
27 November 2018).
No amount was payable on the grant of
the option.
---------------- -------------------------------------------------------------------------------------------------
d) Aggregated
information N/A (single transaction)
- Aggregated
volume
- Price
---------------- -------------------------------------------------------------------------------------------------
e) Date of the 28 November 2018
transaction
---------------- -------------------------------------------------------------------------------------------------
f) Place of the n/a
transaction
---------------- -------------------------------------------------------------------------------------------------
Enquiries:
Denise Burton
Deputy Company Secretary
0121 498 6514
29 November 2018
Mitchells & Butlers plc
LEI no. 213800JHYNDNB1NS2W10
Director/PDMR Shareholding
This notification has been made in accordance with the requirements of the EU Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Susan Martindale
---------------- -------------------------------------------------------------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------------------------
a) Position/status PDMR
---------------- -------------------------------------------------------------------------------------------------
b) Initial Initial notification
notification
/Amendment
---------------- -------------------------------------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------------------------------------
a) Name Mitchells & Butlers plc
---------------- -------------------------------------------------------------------------------------------------
b) LEI 213800JHYNDNB1NS2W10
---------------- -------------------------------------------------------------------------------------------------
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 Ordinary shares in Mitchells & Butlers
the plc (Shares)
financial
instrument,
type of GB00B1FP6H53
instrument
Identification
code
---------------- -------------------------------------------------------------------------------------------------
b) Nature of the Option granted to PDMR on 28 November
transaction 2018 in respect of the FY 2019-2021 performance
cycle for the 2013 Performance Restricted
Share Plan.
This option will be exercisable for the
two-year period following the end of
the performance cycle, subject to the
satisfaction of performance conditions
and on payment of the option exercise
price of a nominal GBP1. The maximum
Share entitlement on satisfaction of
the performance conditions in full is
shown in (c) below (excluding any dividend
accrued shares that may be received by
the participant in respect of any Shares
that vest under the option).
The performance conditions are such that; - 75% of the award is linked to the
achievement of cumulative Operating
Cashflow targets in the period 2019/21;
and
- 25% is linked to Total Shareholder
Return (TSR) compared to that of
a peer group comprising EI Group,
Greene King, Marston's, The Restaurant
Group and Wetherspoon (JD) over the
period 2019/21.
The cashflow definition that will be
used as a measure in the plan is "Operating
Cash Flow before adjusted items, movements
in working capital and additional pension
contributions".
The cashflow targets, which have been
set on a cumulative basis, are as follows: Operating Cash Flow Vesting of this
2019-2021 element
Less than GBP1,332m Nil
-----------------
GBP1,332m 25%
-----------------
Between GBP1,332m and Straight line
GBP1,362m between 25% and
100%
-----------------
GBP1,362m or greater 100%
-----------------
The TSR targets are as follows: M&B's TSR versus the Peer Group Vesting of this element
Below TSR of median ranked company Nil
--------------------------
At TSR of median ranked company 25%
--------------------------
Between TSR of median ranked company Straight line between 25%
and TSR of median ranked company and 100%
plus 8.5% p.a.
--------------------------
At TSR of median ranked company
plus 8.5% p.a. or higher* 100%
--------------------------
* The margin of out-performance of the
TSR of the median ranked company shall
be calculated on a compound basis.
The TSR element of the award is subject
to a share price underpin and awards
may only be exercised where the Mitchells
& Butlers share price has equalled or
exceeded the share price at the date
of the award within six months of the
vesting date. If this condition is not
met, then the TSR related award lapses.
Subject to a dividend being paid or payable,
and once, and to the extent that, the
shares under the option granted have
vested, the participant will be granted
a further option over Dividend Accrued
Shares.
---------------- -------------------------------------------------------------------------------------------------
c) Price(s) and The option is granted over a maximum
volume(s) of 88,234 Shares. The share price used
to determine the number of Shares under
option was GBP2.72 per Share (being the
middle market quotation of a Share for
27 November 2018).
No amount was payable on the grant of
the option.
---------------- -------------------------------------------------------------------------------------------------
d) Aggregated
information N/A (single transaction)
- Aggregated
volume
- Price
---------------- -------------------------------------------------------------------------------------------------
e) Date of the 28 November 2018
transaction
---------------- -------------------------------------------------------------------------------------------------
f) Place of the n/a
transaction
---------------- -------------------------------------------------------------------------------------------------
Enquiries:
Denise Burton
Deputy Company Secretary
0121 498 6514
29 November 2018
Mitchells & Butlers plc
LEI no. 213800JHYNDNB1NS2W10
Director/PDMR Shareholding
This notification has been made in accordance with the requirements of the EU Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Chris Hopkins
---------------- -------------------------------------------------------------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------------------------
a) Position/status PDMR
---------------- -------------------------------------------------------------------------------------------------
b) Initial Initial notification
notification
/Amendment
---------------- -------------------------------------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------------------------------------
a) Name Mitchells & Butlers plc
---------------- -------------------------------------------------------------------------------------------------
b) LEI 213800JHYNDNB1NS2W10
---------------- -------------------------------------------------------------------------------------------------
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 Ordinary shares in Mitchells & Butlers
the plc (Shares)
financial
instrument,
type of GB00B1FP6H53
instrument
Identification
code
---------------- -------------------------------------------------------------------------------------------------
b) Nature of the Option granted to PDMR on 28 November
transaction 2018 in respect of the FY 2019-2021 performance
cycle for the 2013 Performance Restricted
Share Plan.
This option will be exercisable for the
two-year period following the end of
the performance cycle, subject to the
satisfaction of performance conditions
and on payment of the option exercise
price of a nominal GBP1. The maximum
Share entitlement on satisfaction of
the performance conditions in full is
shown in (c) below (excluding any dividend
accrued shares that may be received by
the participant in respect of any Shares
that vest under the option).
The performance conditions are such that; - 75% of the award is linked to the
achievement of cumulative Operating
Cashflow targets in the period 2019/21;
and
- 25% is linked to Total Shareholder
Return (TSR) compared to that of
a peer group comprising EI Group,
Greene King, Marston's, The Restaurant
Group and Wetherspoon (JD) over the
period 2019/21.
The cashflow definition that will be
used as a measure in the plan is "Operating
Cash Flow before adjusted items, movements
in working capital and additional pension
contributions".
The cashflow targets, which have been
set on a cumulative basis, are as follows: Operating Cash Flow Vesting of this
2019-2021 element
Less than GBP1,332m Nil
-----------------
GBP1,332m 25%
-----------------
Between GBP1,332m and Straight line
GBP1,362m between 25% and
100%
-----------------
GBP1,362m or greater 100%
-----------------
The TSR targets are as follows: M&B's TSR versus the Peer Group Vesting of this element
Below TSR of median ranked company Nil
--------------------------
At TSR of median ranked company 25%
--------------------------
Between TSR of median ranked company Straight line between 25%
and TSR of median ranked company and 100%
plus 8.5% p.a.
--------------------------
At TSR of median ranked company
plus 8.5% p.a. or higher* 100%
--------------------------
* The margin of out-performance of the
TSR of the median ranked company shall
be calculated on a compound basis.
The TSR element of the award is subject
to a share price underpin and awards
may only be exercised where the Mitchells
& Butlers share price has equalled or
exceeded the share price at the date
of the award within six months of the
vesting date. If this condition is not
met, then the TSR related award lapses.
Subject to a dividend being paid or payable,
and once, and to the extent that, the
shares under the option granted have
vested, the participant will be granted
a further option over Dividend Accrued
Shares.
---------------- -------------------------------------------------------------------------------------------------
c) Price(s) and The option is granted over a maximum
volume(s) of 88,234 Shares. The share price used
to determine the number of Shares under
option was GBP2.72 per Share (being the
middle market quotation of a Share for
27 November 2018).
No amount was payable on the grant of
the option.
---------------- -------------------------------------------------------------------------------------------------
d) Aggregated
information N/A (single transaction)
- Aggregated
volume
- Price
---------------- -------------------------------------------------------------------------------------------------
e) Date of the 28 November 2018
transaction
---------------- -------------------------------------------------------------------------------------------------
f) Place of the n/a
transaction
---------------- -------------------------------------------------------------------------------------------------
Enquiries:
Denise Burton
Deputy Company Secretary
0121 498 6514
29 November 2018
Mitchells & Butlers plc
LEI no. 213800JHYNDNB1NS2W10
Director/PDMR Shareholding
This notification has been made in accordance with the requirements of the EU Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Greg McMahon
---------------- -------------------------------------------------------------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------------------------
a) Position/status PDMR
---------------- -------------------------------------------------------------------------------------------------
b) Initial Initial notification
notification
/Amendment
---------------- -------------------------------------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------------------------------------
a) Name Mitchells & Butlers plc
---------------- -------------------------------------------------------------------------------------------------
b) LEI 213800JHYNDNB1NS2W10
---------------- -------------------------------------------------------------------------------------------------
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 Ordinary shares in Mitchells & Butlers
the plc (Shares)
financial
instrument,
type of GB00B1FP6H53
instrument
Identification
code
---------------- -------------------------------------------------------------------------------------------------
b) Nature of the Option granted to PDMR on 28 November
transaction 2018 in respect of the FY 2019-2021 performance
cycle for the 2013 Performance Restricted
Share Plan.
This option will be exercisable for the
two-year period following the end of
the performance cycle, subject to the
satisfaction of performance conditions
and on payment of the option exercise
price of a nominal GBP1. The maximum
Share entitlement on satisfaction of
the performance conditions in full is
shown in (c) below (excluding any dividend
accrued shares that may be received by
the participant in respect of any Shares
that vest under the option).
The performance conditions are such that; - 75% of the award is linked to the
achievement of cumulative Operating
Cashflow targets in the period 2019/21;
and
- 25% is linked to Total Shareholder
Return (TSR) compared to that of
a peer group comprising EI Group,
Greene King, Marston's, The Restaurant
Group and Wetherspoon (JD) over the
period 2019/21.
The cashflow definition that will be
used as a measure in the plan is "Operating
Cash Flow before adjusted items, movements
in working capital and additional pension
contributions".
The cashflow targets, which have been
set on a cumulative basis, are as follows: Operating Cash Flow Vesting of this
2019-2021 element
Less than GBP1,332m Nil
-----------------
GBP1,332m 25%
-----------------
Between GBP1,332m and Straight line
GBP1,362m between 25% and
100%
-----------------
GBP1,362m or greater 100%
-----------------
The TSR targets are as follows: M&B's TSR versus the Peer Group Vesting of this element
Below TSR of median ranked company Nil
--------------------------
At TSR of median ranked company 25%
--------------------------
Between TSR of median ranked company Straight line between 25%
and TSR of median ranked company and 100%
plus 8.5% p.a.
--------------------------
At TSR of median ranked company
plus 8.5% p.a. or higher* 100%
--------------------------
* The margin of out-performance of the
TSR of the median ranked company shall
be calculated on a compound basis.
The TSR element of the award is subject
to a share price underpin and awards
may only be exercised where the Mitchells
& Butlers share price has equalled or
exceeded the share price at the date
of the award within six months of the
vesting date. If this condition is not
met, then the TSR related award lapses.
Subject to a dividend being paid or payable,
and once, and to the extent that, the
shares under the option granted have
vested, the participant will be granted
a further option over Dividend Accrued
Shares.
---------------- -------------------------------------------------------------------------------------------------
c) Price(s) and The option is granted over a maximum
volume(s) of 81,800 Shares. The share price used
to determine the number of Shares under
option was GBP2.72 per Share (being the
middle market quotation of a Share for
27 November 2018).
No amount was payable on the grant of
the option.
---------------- -------------------------------------------------------------------------------------------------
d) Aggregated
information N/A (single transaction)
- Aggregated
volume
- Price
---------------- -------------------------------------------------------------------------------------------------
e) Date of the 28 November 2018
transaction
---------------- -------------------------------------------------------------------------------------------------
f) Place of the n/a
transaction
---------------- -------------------------------------------------------------------------------------------------
Enquiries:
Denise Burton
Deputy Company Secretary
0121 498 6514
29 November 2018
Mitchells & Butlers plc
LEI no. 213800JHYNDNB1NS2W10
Director/PDMR Shareholding
This notification has been made in accordance with the requirements of the EU Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Susan Chappell
---------------- -------------------------------------------------------------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------------------------
a) Position/status PDMR
---------------- -------------------------------------------------------------------------------------------------
b) Initial Initial notification
notification
/Amendment
---------------- -------------------------------------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------------------------------------
a) Name Mitchells & Butlers plc
---------------- -------------------------------------------------------------------------------------------------
b) LEI 213800JHYNDNB1NS2W10
---------------- -------------------------------------------------------------------------------------------------
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 Ordinary shares in Mitchells & Butlers
the plc (Shares)
financial
instrument,
type of GB00B1FP6H53
instrument
Identification
code
---------------- -------------------------------------------------------------------------------------------------
b) Nature of the Option granted to PDMR on 28 November
transaction 2018 in respect of the FY 2019-2021 performance
cycle for the 2013 Performance Restricted
Share Plan.
This option will be exercisable for the
two-year period following the end of
the performance cycle, subject to the
satisfaction of performance conditions
and on payment of the option exercise
price of a nominal GBP1. The maximum
Share entitlement on satisfaction of
the performance conditions in full is
shown in (c) below (excluding any dividend
accrued shares that may be received by
the participant in respect of any Shares
that vest under the option).
The performance conditions are such that; - 75% of the award is linked to the
achievement of cumulative Operating
Cashflow targets in the period 2019/21;
and
- 25% is linked to Total Shareholder
Return (TSR) compared to that of
a peer group comprising EI Group,
Greene King, Marston's, The Restaurant
Group and Wetherspoon (JD) over the
period 2019/21.
The cashflow definition that will be
used as a measure in the plan is "Operating
Cash Flow before adjusted items, movements
in working capital and additional pension
contributions".
The cashflow targets, which have been
set on a cumulative basis, are as follows: Operating Cash Flow Vesting of this
2019-2021 element
Less than GBP1,332m Nil
-----------------
GBP1,332m 25%
-----------------
Between GBP1,332m and Straight line
GBP1,362m between 25% and
100%
-----------------
GBP1,362m or greater 100%
-----------------
The TSR targets are as follows: M&B's TSR versus the Peer Group Vesting of this element
Below TSR of median ranked company Nil
--------------------------
At TSR of median ranked company 25%
--------------------------
Between TSR of median ranked company Straight line between 25%
and TSR of median ranked company and 100%
plus 8.5% p.a.
--------------------------
At TSR of median ranked company
plus 8.5% p.a. or higher* 100%
--------------------------
* The margin of out-performance of the
TSR of the median ranked company shall
be calculated on a compound basis.
The TSR element of the award is subject
to a share price underpin and awards
may only be exercised where the Mitchells
& Butlers share price has equalled or
exceeded the share price at the date
of the award within six months of the
vesting date. If this condition is not
met, then the TSR related award lapses.
Subject to a dividend being paid or payable,
and once, and to the extent that, the
shares under the option granted have
vested, the participant will be granted
a further option over Dividend Accrued
Shares.
---------------- -------------------------------------------------------------------------------------------------
c) Price(s) and The option is granted over a maximum
volume(s) of 80,881 Shares. The share price used
to determine the number of Shares under
option was GBP2.72 per Share (being the
middle market quotation of a Share for
27 November 2018).
No amount was payable on the grant of
the option.
---------------- -------------------------------------------------------------------------------------------------
d) Aggregated
information N/A (single transaction)
- Aggregated
volume
- Price
---------------- -------------------------------------------------------------------------------------------------
e) Date of the 28 November 2018
transaction
---------------- -------------------------------------------------------------------------------------------------
f) Place of the n/a
transaction
---------------- -------------------------------------------------------------------------------------------------
Enquiries:
Denise Burton
Deputy Company Secretary
0121 498 6514
29 November 2018
Mitchells & Butlers plc
LEI no. 213800JHYNDNB1NS2W10
Director/PDMR Shareholding
This notification has been made in accordance with the requirements of the EU Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Nick Crossley
---------------- -------------------------------------------------------------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------------------------
a) Position/status PDMR
---------------- -------------------------------------------------------------------------------------------------
b) Initial Initial notification
notification
/Amendment
---------------- -------------------------------------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------------------------------------
a) Name Mitchells & Butlers plc
---------------- -------------------------------------------------------------------------------------------------
b) LEI 213800JHYNDNB1NS2W10
---------------- -------------------------------------------------------------------------------------------------
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 Ordinary shares in Mitchells & Butlers
the plc (Shares)
financial
instrument,
type of GB00B1FP6H53
instrument
Identification
code
---------------- -------------------------------------------------------------------------------------------------
b) Nature of the Option granted to PDMR on 28 November
transaction 2018 in respect of the FY 2019-2021 performance
cycle for the 2013 Performance Restricted
Share Plan.
This option will be exercisable for the
two-year period following the end of
the performance cycle, subject to the
satisfaction of performance conditions
and on payment of the option exercise
price of a nominal GBP1. The maximum
Share entitlement on satisfaction of
the performance conditions in full is
shown in (c) below (excluding any dividend
accrued shares that may be received by
the participant in respect of any Shares
that vest under the option).
The performance conditions are such that; - 75% of the award is linked to the
achievement of cumulative Operating
Cashflow targets in the period 2019/21;
and
- 25% is linked to Total Shareholder
Return (TSR) compared to that of
a peer group comprising EI Group,
Greene King, Marston's, The Restaurant
Group and Wetherspoon (JD) over the
period 2019/21.
The cashflow definition that will be
used as a measure in the plan is "Operating
Cash Flow before adjusted items, movements
in working capital and additional pension
contributions".
The cashflow targets, which have been
set on a cumulative basis, are as follows: Operating Cash Flow Vesting of this
2019-2021 element
Less than GBP1,332m Nil
-----------------
GBP1,332m 25%
-----------------
Between GBP1,332m and Straight line
GBP1,362m between 25% and
100%
-----------------
GBP1,362m or greater 100%
-----------------
The TSR targets are as follows: M&B's TSR versus the Peer Group Vesting of this element
Below TSR of median ranked company Nil
--------------------------
At TSR of median ranked company 25%
--------------------------
Between TSR of median ranked company Straight line between 25%
and TSR of median ranked company and 100%
plus 8.5% p.a.
--------------------------
At TSR of median ranked company
plus 8.5% p.a. or higher* 100%
--------------------------
* The margin of out-performance of the
TSR of the median ranked company shall
be calculated on a compound basis.
The TSR element of the award is subject
to a share price underpin and awards
may only be exercised where the Mitchells
& Butlers share price has equalled or
exceeded the share price at the date
of the award within six months of the
vesting date. If this condition is not
met, then the TSR related award lapses.
Subject to a dividend being paid or payable,
and once, and to the extent that, the
shares under the option granted have
vested, the participant will be granted
a further option over Dividend Accrued
Shares.
---------------- -------------------------------------------------------------------------------------------------
c) Price(s) and The option is granted over a maximum
volume(s) of 80,881 Shares. The share price used
to determine the number of Shares under
option was GBP2.72 per Share (being the
middle market quotation of a Share for
27 November 2018).
No amount was payable on the grant of
the option.
---------------- -------------------------------------------------------------------------------------------------
d) Aggregated
information N/A (single transaction)
- Aggregated
volume
- Price
---------------- -------------------------------------------------------------------------------------------------
e) Date of the 28 November 2018
transaction
---------------- -------------------------------------------------------------------------------------------------
f) Place of the n/a
transaction
---------------- -------------------------------------------------------------------------------------------------
Enquiries:
Denise Burton
Deputy Company Secretary
0121 498 6514
29 November 2018
Mitchells & Butlers plc
LEI no. 213800JHYNDNB1NS2W10
Director/PDMR Shareholding
This notification has been made in accordance with the requirements of the EU Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Dennis Deare
---------------- -------------------------------------------------------------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------------------------
a) Position/status PDMR
---------------- -------------------------------------------------------------------------------------------------
b) Initial Initial notification
notification
/Amendment
---------------- -------------------------------------------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------------------------------------
a) Name Mitchells & Butlers plc
---------------- -------------------------------------------------------------------------------------------------
b) LEI 213800JHYNDNB1NS2W10
---------------- -------------------------------------------------------------------------------------------------
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 Ordinary shares in Mitchells & Butlers
the plc (Shares)
financial
instrument,
type of GB00B1FP6H53
instrument
Identification
code
---------------- -------------------------------------------------------------------------------------------------
b) Nature of the Option granted to PDMR on 28 November
transaction 2018 in respect of the FY 2019-2021 performance
cycle for the 2013 Performance Restricted
Share Plan.
This option will be exercisable for the
two-year period following the end of
the performance cycle, subject to the
satisfaction of performance conditions
and on payment of the option exercise
price of a nominal GBP1. The maximum
Share entitlement on satisfaction of
the performance conditions in full is
shown in (c) below (excluding any dividend
accrued shares that may be received by
the participant in respect of any Shares
that vest under the option).
The performance conditions are such that; - 75% of the award is linked to the
achievement of cumulative Operating
Cashflow targets in the period 2019/21;
and
- 25% is linked to Total Shareholder
Return (TSR) compared to that of
a peer group comprising EI Group,
Greene King, Marston's, The Restaurant
Group and Wetherspoon (JD) over the
period 2019/21.
The cashflow definition that will be
used as a measure in the plan is "Operating
Cash Flow before adjusted items, movements
in working capital and additional pension
contributions".
The cashflow targets, which have been
set on a cumulative basis, are as follows: Operating Cash Flow Vesting of this
2019-2021 element
Less than GBP1,332m Nil
-----------------
GBP1,332m 25%
-----------------
Between GBP1,332m and Straight line
GBP1,362m between 25% and
100%
-----------------
GBP1,362m or greater 100%
-----------------
The TSR targets are as follows: M&B's TSR versus the Peer Group Vesting of this element
Below TSR of median ranked company Nil
--------------------------
At TSR of median ranked company 25%
--------------------------
Between TSR of median ranked company Straight line between 25%
and TSR of median ranked company and 100%
plus 8.5% p.a.
--------------------------
At TSR of median ranked company
plus 8.5% p.a. or higher* 100%
--------------------------
* The margin of out-performance of the
TSR of the median ranked company shall
be calculated on a compound basis.
The TSR element of the award is subject
to a share price underpin and awards
may only be exercised where the Mitchells
& Butlers share price has equalled or
exceeded the share price at the date
of the award within six months of the
vesting date. If this condition is not
met, then the TSR related award lapses.
Subject to a dividend being paid or payable,
and once, and to the extent that, the
shares under the option granted have
vested, the participant will be granted
a further option over Dividend Accrued
Shares.
---------------- -------------------------------------------------------------------------------------------------
c) Price(s) and The option is granted over a maximum
volume(s) of 80,881 Shares. The share price used
to determine the number of Shares under
option was GBP2.72 per Share (being the
middle market quotation of a Share for
27 November 2018).
No amount was payable on the grant of
the option.
---------------- -------------------------------------------------------------------------------------------------
d) Aggregated
information N/A (single transaction)
- Aggregated
volume
- Price
---------------- -------------------------------------------------------------------------------------------------
e) Date of the 28 November 2018
transaction
---------------- -------------------------------------------------------------------------------------------------
f) Place of the n/a
transaction
---------------- -------------------------------------------------------------------------------------------------
Enquiries:
Denise Burton
Deputy Company Secretary
0121 498 6514
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
DSHXKLFLVFFXFBB
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November 29, 2018 09:00 ET (14:00 GMT)
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