Brown (N.) Group PLC Director/PDMR Shareholding (6960N)

TIDMBWNG

RNS Number : 6960N

Brown (N.) Group PLC

10 August 2017

N Brown Group plc

("N Brown" or the "Company")

Grant of nil cost options

N Brown announces that on 9 August 2017 nil cost options were granted to its Chief Executive, Angela Spindler over 254,918 shares and its Group Chief Financial Officer, Craig Lovelace over 133,915 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 326.3 pence.

The performance conditions and targets for the 2017 Awards are therefore as follows:

 
                                                 Annual growth in         Free cashflow is      Annual growth in total 
                    Percentage of each part   adjusted EPS in excess    defined as cashflow         revenue over 3 
                    of the award that will        of RPI over 3            generated from          financial years 
                             vest                financial years        operations excluding 
                                                                            receivables. 
                                                                       Targets are cumulative 
                                                                       over 3 financial years 
-----------------  ------------------------  -----------------------  -----------------------  ----------------------- 
 Weighting                                             50%                      30%                      20% 
-------------------------------------------  -----------------------  -----------------------  ----------------------- 
 Below threshold              0%               Less than RPI +2.5%       Less than GBP370m        Less than 5% CAGR 
-----------------  ------------------------  -----------------------  -----------------------  ----------------------- 
 Threshold*                   25%               At least RPI +2.5%        At least GBP370m         At least 5% CAGR 
-----------------  ------------------------  -----------------------  -----------------------  ----------------------- 
 Maximum*                    100%                At least RPI +9%         At least GBP450m         At least 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                 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         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     254,918 
                            ----------  ---------- 
---  ------------------  -------------------------------------- 
 d)   Aggregated 
       information         N/A - single transaction 
       - Aggregated 
       volume 
       - Price 
---  ------------------  -------------------------------------- 
 e)   Date of             9 August 2017 
       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                 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         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     133,915 
                            ----------  ---------- 
---  ------------------  -------------------------------------- 
 d)   Aggregated 
       information         N/A - single transaction 
       - Aggregated 
       volume 
       - Price 
---  ------------------  -------------------------------------- 
 e)   Date of             9 August 2017 
       the transaction 
---  ------------------  -------------------------------------- 
 f)   Place of            London Stock Exchange, Main Market 
       the transaction 
---  ------------------  -------------------------------------- 
 

- Ends -

For further information:

ENQUIRIES: Laura McNeil 0161 238 2563

This information is provided by RNS

The company news service from the London Stock Exchange

END

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August 10, 2017 09:59 ET (13:59 GMT)