Marston's PLC Director/PDMR Shareholding
28 Marzo 2024 - 3:50PM
RNS Regulatory News
RNS Number : 7747I
Marston's PLC
28 March 2024
28 March 2024
Notification of interests of directors and persons discharging
managerial responsibilities
Marston's PLC (the
"Company") announces that on 28
March 2024 the Directors listed below were granted nil-cost options
over ordinary shares in the Company under the Company's Long Term
Incentive Plan ("Nil-Cost
Options").
The Nil-Cost Options are in addition
to certain nil-cost options granted to the Directors on 4 March
2024, which were granted over fewer shares than intended. The
Nil-Cost Options which are the subject of this notification were
therefore granted over such number of shares as was necessary to
put the Directors in materially the same position as had the
nil-cost options granted on 4 March 2024 been granted over the
correct number of shares (and the number of shares over which the
Nil-Cost Options have been granted has therefore also been
calculated using the market price at the close of trading on the
London Stock Exchange on 4 March 2024, being £0.2925 per ordinary
share, save for the award granted to Hayleigh Lupino, where a
notional share price of 33p was used to reflect the Remuneration
Committee's decision to grant her an award over shares worth 125%
of her base salary when the share price was 33p (which has
decreased since that decision)).
Performance
Metrics
Nil-Cost Options will vest to the
extent performance conditions are satisfied as set out
below:
|
Measure
|
Weighting
|
Threshold (25% vest)
|
Maximum (100% vest)
|
|
Underlying PBT in
20261
|
20%
|
£75m
|
£95m
|
|
Net cash flow2
(2024, 2025 and 2026 aggregate)
|
40%
|
£150m
|
£180m
|
|
Operating Margin in 2026
|
20%
|
16.3%
|
18.3%
|
|
Relative Total Shareholder Return
(TSR) (measured over FY2023/24 to
FY2025/2026)
|
20%
|
Median
|
Upper quartile
|
1. Underlying PBT: exclusive of
income from associates.
2. Net cash inflow/(outflow) as per
the Net Debt note to the financial statements.
3. Straight-line vesting applies
between Threshold and Maximum.
To the extent the performance
metrics are met, a Nil-Cost Option will be released following the
end of a further two-year holding period.
Enquiries:
Bethan Raybould, General Counsel
& Company Secretary, Marston's PLC, +44 (0) 1902
907250
Notification of Dealing
Form
|
1.
|
Details of the Person Discharging Managerial Responsibility
("PDMR")/person closely associated with them
("PCA")
|
|
a)
|
Name
|
Justin Platt
|
|
2.
|
Reason for the notification
|
|
a)
|
Position/status
|
Director and PDMR
(Chief Executive Officer)
|
|
b)
|
Initial notification/
amendment
|
Initial Notification
|
|
3.
|
Details of the Issuer
|
|
a)
|
Name
|
Marston's PLC
|
|
b)
|
LEI code
|
213800Q6RP3ZJ2CZR962
|
|
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 the financial
instrument
Identification code
|
Ordinary Shares of 7.375 pence
each
ISIN: GB00B1JQDM80
|
|
b)
|
Nature of the transaction
|
Grant of a nil-cost option under the
Marston's PLC Long Term Incentive Plan.
|
|
c)
|
Price(s) and volumes(s)
|
|
Price
|
Volume
|
|
Nil-cost option: N/A
|
205,128
|
|
|
d)
|
Aggregated information
- Aggregate
volume
- Price
|
205,128
N/A
|
|
e)
|
Date of the transaction
|
28-03-2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
|
1.
|
Details of the Person Discharging Managerial Responsibility
("PDMR")/person closely associated with them
("PCA")
|
|
a)
|
Name
|
Hayleigh Lupino
|
|
2.
|
Reason for the notification
|
|
a)
|
Position/status
|
Director and PDMR (Chief Financial
Officer)
|
|
b)
|
Initial notification/
amendment
|
Initial Notification
|
|
3.
|
Details of the Issuer
|
|
a)
|
Name
|
Marston's PLC
|
|
b)
|
LEI code
|
213800Q6RP3ZJ2CZR962
|
|
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 the financial
instrument
Identification code
|
Ordinary Shares of 7.375 pence
each
ISIN: GB00B1JQDM80
|
|
b)
|
Nature of the transaction
|
Grant of a nil-cost option under the
Marston's PLC Long Term Incentive Plan.
|
|
c)
|
Price(s) and volumes(s)
|
|
Price
|
Volume
|
|
Nil-cost option: N/A
|
205,128
|
|
|
d)
|
Aggregated information
- Aggregate
volume
- Price
|
205,128
N/A
|
|
e)
|
Date of the transaction
|
28-03-2024
|
|
f)
|
Place of the transaction
|
Outside a trading venue
|
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END
DSHEALDPALPLEFA
Grafico Azioni Marston's (LSE:MARS)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Marston's (LSE:MARS)
Storico
Da Apr 2023 a Apr 2024
