TIDMMEAL

RNS Number : 5010M

Parsley Box Group PLC

24 May 2022

24 May 2022

Parsley Box Group plc

("Parsley Box" or the "Company")

Grant of share incentive awards to Executive Directors

Parsley Box, the direct to consumer provider of ready meals focused on the fast-growing and underserved Baby Boomer+ demographic, announces that it has today granted incentive awards in the form of options (the "Awards") over its ordinary shares of GBP0.01 each ("Shares") to certain directors and PDMRs as set out in the table below. The Awards have been granted under the terms of the Company's Management Incentive Plan (the "MIP").

 
Director        Role                Awards granted  Exercise  Total options 
                                                     price     held 
                Chief Executive 
Kevin Dorren     Officer              2,926,829      20.5p      2,926,829 
                Chief Financial 
Holly McComb     Officer              2,195,121      20.5p      2,195,121 
Simon Russell   Managing Director     1,463,414      20.5p      1,463,414

The vesting of each of the Awards is subject to the satisfaction of stretching performance conditions that have been set by the Remuneration and Nomination Committee of the Company. These conditions (which will be assessed following the end of the financial year to 31 December 2024) relate to the achievement of specified revenue targets (with an earnings per share underpin) that are intended to drive shareholder value. Vesting will also normally be dependent on the continued employment of the relevant participant within the Company's group on the third anniversary of grant. The Awards are subject to malus and clawback provisions.

Once any part of an Award becomes exercisable, it will generally remain so until the tenth anniversary of its original grant.

It is currently anticipated that no further Awards will be made to the above-noted individuals under the MIP until after the commencement of the financial year ending 31 December 2025. In order to align its management incentive arrangements, the above Award to Kevin Dorren replaces the nominal-value option granted to him on 31 March 2021.

Following consultation with significant shareholders, the Company's option pool, as described in its AIM admission document, has been increased from 10% to 15% of share capital to create the necessary headroom to recruit and retain the talent needed to grow the business.

Finally, it should be noted that options over up to 880,555 Shares have also been granted today to other employees of the Company under the MIP.

The following notifications are intended to satisfy the Company's obligations under Article 19(3) of EU Regulation No 596/2014 (the Market Abuse Regulation).

 
Enquiries: 
Parsley Box 
 Holly McComb 
 Kevin Dorren                               Tel: 0131 608 1990 
                                            Email: invest@parsleybox.com 
finnCap (Nominated Adviser and Broker) 
 Matt Goode / Charlie Beeson (Corporate 
 Finance)                                   Tel: +44 20 7220 0500 
 Tim Redfern / Charlotte Sutcliffe (ECM) 
Instinctif Partners                       Tel: +44 20 7457 2005 
 Matthew Smallwood                         / 2010 
 Justine Warren

Notification of transactions of persons discharging managerial responsibilities and persons closely associated with them

 
    Details of the person discharging managerial responsibilities 
 1   / person closely associated 
a)  Name                  1. Kevin Dorren 
                           2. Holly McComb 
                           3. Simon Russell 
    Reason for the notification 
 2 
a)  Position/status       1. Chief Executive Officer, Executive Director 
                           2. Chief Financial Officer, Executive Director 
                           3. Managing Director, PDMR 
b)  Initial notification  Initial Notification 
     /Amendment 
    Details of the issuer, emission allowance market participant, 
 3   auction platform, auctioneer or auction monitor 
a)  Name                  Parsley Box Group plc 
b)  LEI                   21380011BEY3JSQ3AU68 
    Details of the transaction(s): section to be repeated for 
 4   (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 GBP0.01 each ("Shares") 
     of the financial 
     instrument, 
     type of instrument 
 
     Identification        GB00BNK9TZ56 
     code 
b)  Nature of             Grant of awards (in the form of options) over 
     the transaction       Shares pursuant to the Parsley Box Group plc 
                           Management Incentive Plan 
c)  Price(s) and                    Price(s)       Volume(s) 
     volume(s)                  GBP0.205 (exercise 
                            1.        price)        2,926,829 
                                GBP0.205 (exercise 
                            2.        price)        2,195,121 
                                GBP0.205 (exercise 
                            3.        price)        1,463,414 
d)  Aggregated            1. N/A single transaction 
     information           2. N/A single transaction 
                           3. N/A single transaction 
 
     -Aggregated 
     volume 
 
 
     - Price 
e)  Date of the           24 May 2022 
     transaction 
f)  Place of the          Outside a trading venue 
     transaction 
    Details of the person discharging managerial responsibilities 
 1   / person closely associated 
a)  Name                  Kevin Dorren 
    Reason for the notification 
 2 
a)  Position/status       Chief Executive Officer, Executive Director 
b)  Initial notification  Initial Notification 
     /Amendment 
    Details of the issuer, emission allowance market participant, 
 3   auction platform, auctioneer or auction monitor 
a)  Name                  Parsley Box Group plc 
b)  LEI                   21380011BEY3JSQ3AU68 
    Details of the transaction(s): section to be repeated for 
 4   (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 GBP0.01 each ("Shares") 
     of the financial 
     instrument, 
     type of instrument 
 
     Identification        GB00BNK9TZ56 
     code 
b)  Nature of             Release of award (in the form of nominal-value 
     the transaction       options) over Shares pursuant to the Parsley 
                           Box Group plc Management Incentive Plan 
c)  Price(s) and               Price(s)       Volume(s) 
     volume(s)             GBP0.01 (exercise 
                                 price)        1,125,000 
d)  Aggregated            N/A 
     information 
 
 
     -Aggregated 
     volume 
 
 
     - Price 
e)  Date of the           24 May 2022 
     transaction 
f)  Place of the          Outside a trading venue 
     transaction

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