19 March 2024
Fletcher King
plc
("Fletcher King" or "the
Company")
Grant of Share
Options
The Board of Fletcher King PLC (AIM:
FLK) announces that the Company has awarded a total of 920,000
options over ordinary shares of 10 pence each in the Company
("Ordinary Shares") to certain Directors, PDMRs and employees (the
"Options"). The Options have been granted under the rules of the
Company's existing EMI scheme.
The Options are exercisable at 34.07
pence per Ordinary Share (the "Exercise Price"), being the
preceding 30-day VWAP as of market close on 15 March
2024.
The Options are exercisable after a
minimum period of five years subject to a performance condition.
The performance condition requires that, the Market Value of an
Ordinary Share on the exercise date has been at least 40.88 pence,
over the immediately preceding period of 30 trading days. The
Options expire on the tenth anniversary of grant if not
exercised.
The Directors and PDMRs who have
been awarded Options are as follows:
|
Name
|
Position/PDMR
|
Number of Options
granted
|
|
Robert Dickman
|
Executive Director
|
250,000
|
|
Paul Andrews
|
Managing Director
|
250,000
|
|
Peter Bailey
|
Finance Director
|
200,000
|
|
Paul Morris
|
PDMR
|
100,000
|
|
Total
|
|
800,000
|
In aggregate, the 1,600,000 Options
granted to the Directors and PDMRs represent approximately 15.6%
per cent. of the current issued share capital of the
Company.
In addition, a further 120,000
Options have been awarded to certain employees of the Company, on
the same terms as above.
Following the grant of the Options,
the total number of Ordinary Shares outstanding under these option
arrangements is 1,840,000 representing approximately 18% per cent.
of the Company's issued share capital.
This announcement contains inside
information for the purposes of the UK Market Abuse Regulation and
the Directors of the Company are responsible for the release of
this announcement.
Enquiries:
Fletcher King plc
David Fletcher / Peter
Bailey
Tel: 0207 493 8400
Cairn Financial Advisers
LLP
James Caithie / Liam
Murray
Tel: 020 7213 0880
|
Notification of a Transaction pursuant to Article 19(1) of
Regulation (EU) No. 596/2014
|
|
Details of the person discharging managerial
responsibilities/person closely associated
|
|
Name
|
a) Robert Dickman
b) Paul Andrews
c) Peter Bailey
d) Paul Morris
|
|
Reason for notification
|
Initial Notification
|
|
Position/Status
|
a) Executive Director
b) Managing Director
c) Finance Director
d) Director of subsidiary
company
|
|
Initial notification/
Amendment
|
Initial
|
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
Name
|
Fletcher King plc
|
|
LEI
|
|
|
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
|
|
Description of the financial
instrument, type of instrument
Identification Code
|
Options over ordinary shares of 10p
each
GB0003425310
|
|
Nature of the transaction
|
Grant of Options to subscribe for
ordinary shares
|
|
Price(s) and volume(s)
|
|
|
|
|
|
|
|
Price(s)
|
Volume(s)
|
|
|
a) 34.07p
b) 34.07p
c) 34.07p
d) 34.07p
|
a) 250,000
b) 250,000
c) 200,000
d) 100,000
|
|
|
|
|
Aggregated information
- Aggregated Volume
- Price
|
800,000
34.07p
|
|
Date of the transaction
|
18 March 2024
|
|
Place of the transaction
|
UK
|
|
|
|
|
|
|
|
| |