McColl's Retail Group plc Grant of Long Term Incentive Plan Awards (0651Y)
03 Maggio 2019 - 2:15PM
UK Regulatory
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RNS Number : 0651Y
McColl's Retail Group plc
03 May 2019
McColl's Retail Group plc (the "Company")
Grant of Long Term Incentive Plan Awards
Notification of Transactions by Executive Directors and Persons
Discharging Managerial Responsibilities ("PDMRs")
The Company announces the grant of LTIP Awards on 2 May 2019 to
the following Directors of the Company in accordance with the rules
of the McColl's Retail Group plc Long Term Incentive Plan (the
"LTIP").
Director / PDMR Number of ordinary shares of GBP0.001 each ("Shares") over which LTIP Awards Call Price per share
were granted
Jonathan Miller 364,240 GBP0.001
Dave Thomas 237,163 GBP0.001
Robbie Bell 505,350 GBP0.001
The awards of Jonathan Miller and Dave Thomas are based on the
same number of shares as granted in the previous year rather than
at 150% of salary, reflecting the Company's share price decline.
The award for Robbie Bell, who was appointed Chief Financial
Officer in January 2019, is equivalent to 125% of base salary
(based on the mid-market closing price for McColl's shares on 1 May
2019, being the day immediately preceding the date of grant) and
forms part of his recruitment package as disclosed in the Annual
Report and Accounts 2018.
Awards will vest subject to the following performance conditions
measured over the three-year performance period ending November
2021.
Performance Conditions
TSR Performance Condition EPS Performance Condition Percentage of element that will vest
(50%) (50%)
Total Shareholder Return (TSR) vs. Annual adjusted EPS growth from the
constituents of the FTSE All Share base year (the year ended November
General Retailers and 2018) to the end year
FTSE All Share Food & Drugs Retailers (the year ending November 2021)
Index
Below median Less than 7% p.a. 0%
Between median and upper quartile Between 7% and 18% p.a. Straight line vesting from 25% to 100%
Upper quartile 18% p.a. or more 100%
Further, for LTIP Awards to Vest, the Committee must be
satisfied that the outcome when applying the EPS and TSR Targets is
a genuine reflection of the underlying performance of the
business.
The awards are to be satisfied by newly issued shares. The
awards will vest subject to the rules of the LTIP and the
Remuneration Committee's determination of the extent to which the
performance conditions above have been satisfied.
A two year post vesting holding period will also apply.
For further information contact:
Rachel Peat, Company Secretary
McColl's Retail Group plc
About McColl's Retail Group
McColl's is a leading neighbourhood retailer, with an estate of
c.1,550 managed convenience stores and newsagents. We operate
McColl's branded convenience stores as well as newsagents branded
Martin's across the UK, except in Scotland where we operate under
our heritage brand, RS McColl. Our dedicated colleagues serve five
million customers every week, and we are the largest operator of
Post Offices in the UK, with c.600 in-store counters/branches.
LEI: 213800R1TLR536P8YJ67
The information set out below is provided in accordance with the
requirements of Article 19(3) of the EU Market Abuse Regulation No
596/2014.
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name 1. Jonathan Miller
2. Dave Thomas
3. Robbie Bell
2 Reason for the notification
a) Position/status 1. PDMR, Chief Executive
2. PDMR, Chief Operating Officer
3. PDMR, Chief Financial Officer
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name McColl's Retail Group plc
b) LEI 213800R1TLR536P8YJ67
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, type Ordinary Shares of 0.1 pence each
of instrument
Identification code ISIN: GB00BJ3VW957
b) Nature of the transaction Awards made pursuant to the McColl's Retail Group plc Long Term
Incentive Plan
c) Price(s) and volume(s) Call Price(s) Volume(s)
1. GBP0.001 per Ordinary Share 1. 364,240
2. GBP0.001 per Ordinary Share 2. 237,163
3. GBP0.001 per Ordinary Share 3. 505,350
d) Aggregated information
- Aggregated volume 1. 364,240
2. 237,163
3. 505,350
- Price n/a
e) Date of the transaction 1. 2 May 2019
2. 2 May 2019
3. 2 May 2019
f) Place of the transaction Outside a trading venue
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
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