Mitchells & Butlers PLC Director/PDMR Shareholding (3266Z)
20 May 2021 - 11:00PM
UK Regulatory
TIDMMAB
RNS Number : 3266Z
Mitchells & Butlers PLC
20 May 2021
20 May 2021
Mitchells & Butlers plc
LEI no. 213800JHYNDNB1NS2W10
Director/PDMR Shareholding
This notification has been made in accordance with the
requirements of the EU Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Phil Urban
-------------------------- -----------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/status Director
-------------------------- -----------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name Mitchells & Butlers plc
-------------------------- -----------------------------------------------
b) LEI 213800JHYNDNB1NS2W10
-------------------------- -----------------------------------------------
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 Ordinary shares in Mitchells & Butlers
financial instrument, plc (Shares)
type of instrument
Identification code GB00B1FP6H53
-------------------------- -----------------------------------------------
b) Nature of the transaction Option granted to Director on 20 May
2021 under the Restricted Share Plan
2021.
This option will be exercisable for 90
days following vesting. No performance
measures are applied on vesting, but
the Committee will take into account
the following factors (amongst others)
when determining whether to exercise
its discretion to adjust the number of
shares vesting:
-- The Committee undertakes a thorough
'quality of earnings' assessment every
year prior to the finalisation of any
annual bonus outcomes. It is proposed
that these will also be used to inform
the assessment of awards under the RSP.
The annual quality of earnings assessment
takes into account financial performance
as well as guest experience and employee
engagement along with a broader-based
holistic assessment of business performance
and the achievement of KPIs;
-- Whether there has been material damage
to the reputation of the Company (in
such circumstances, responsibility and
hence any adjustments to the level of
vesting may be allocated collectively
or individually to participants); and
-- That the business has a stable and
appropriate capital structure in place
following the cessation of restrictions
on trade due to the Covid-19 pandemic
that enables the recovery of the business
and execution of the Company's strategic
priorities.
Subject to a dividend being paid or payable,
and once, and to the extent that, the
shares under the option granted have
vested, the participant will be granted
a further option over Dividend Accrued
Shares.
In accordance with the Company's Remuneration
Policy, a post vesting holding period
applies which requires Shares received
pursuant to such awards to be retained
for a period of two years from the end
of the vesting period, except for Shares
sold to pay income tax and national insurance
contributions arising upon vesting/exercise.
-------------------------- -----------------------------------------------
c) Price(s) and volume(s) The option is granted over a maximum
of 173,807 Shares. The share price used
to determine the number of Shares under
option was GBP3.081 per Share (being
the average of the middle market quotation
of a Share for the three days of 17/18/19
May 2021).
No amount was payable on the grant of
the option.
-------------------------- -----------------------------------------------
d) Aggregated information
- Aggregated volume N/A (single transaction)
- Price
-------------------------- -----------------------------------------------
e) Date of the transaction 20 May 2021
-------------------------- -----------------------------------------------
f) Place of the transaction n/a
-------------------------- -----------------------------------------------
Enquiries:
Denise Burton
Deputy Company Secretary
0121 498 6514
20 May 2021
Mitchells & Butlers plc
LEI no. 213800JHYNDNB1NS2W10
Director/PDMR Shareholding
This notification has been made in accordance with the
requirements of the EU Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Tim Jones
-------------------------- -----------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/status Director
-------------------------- -----------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name Mitchells & Butlers plc
-------------------------- -----------------------------------------------
b) LEI 213800JHYNDNB1NS2W10
-------------------------- -----------------------------------------------
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 Ordinary shares in Mitchells & Butlers
financial instrument, plc (Shares)
type of instrument
Identification code GB00B1FP6H53
-------------------------- -----------------------------------------------
b) Nature of the transaction Option granted to Director on 20 May
2021 under the Restricted Share Plan
2021.
This option will be exercisable for 90
days following vesting. No performance
measures are applied on vesting, but
the Committee will take into account
the following factors (amongst others)
when determining whether to exercise
its discretion to adjust the number of
shares vesting:
-- The Committee undertakes a thorough
'quality of earnings' assessment every
year prior to the finalisation of any
annual bonus outcomes. It is proposed
that these will also be used to inform
the assessment of awards under the RSP.
The annual quality of earnings assessment
takes into account financial performance
as well as guest experience and employee
engagement along with a broader-based
holistic assessment of business performance
and the achievement of KPIs;
-- Whether there has been material damage
to the reputation of the Company (in
such circumstances, responsibility and
hence any adjustments to the level of
vesting may be allocated collectively
or individually to participants); and
-- That the business has a stable and
appropriate capital structure in place
following the cessation of restrictions
on trade due to the Covid-19 pandemic
that enables the recovery of the business
and execution of the Company's strategic
priorities.
Subject to a dividend being paid or payable,
and once, and to the extent that, the
shares under the option granted have
vested, the participant will be granted
a further option over Dividend Accrued
Shares.
In accordance with the Company's Remuneration
Policy, a post vesting holding period
applies which requires Shares received
pursuant to such awards to be retained
for a period of two years from the end
of the vesting period, except for Shares
sold to pay income tax and national insurance
contributions arising upon vesting/exercise.
-------------------------- -----------------------------------------------
c) Price(s) and volume(s) The option is granted over a maximum
of 145,407 Shares. The share price used
to determine the number of Shares under
option was GBP3.081 per Share (being
the average of the middle market quotation
of a Share for the three days of 17/18/19
May 2021).
No amount was payable on the grant of
the option.
-------------------------- -----------------------------------------------
d) Aggregated information
- Aggregated volume N/A (single transaction)
- Price
-------------------------- -----------------------------------------------
e) Date of the transaction 20 May 2021
-------------------------- -----------------------------------------------
f) Place of the transaction n/a
-------------------------- -----------------------------------------------
Enquiries:
Denise Burton
Deputy Company Secretary
0121 498 6514
20 May 2021
Mitchells & Butlers plc
LEI no. 213800JHYNDNB1NS2W10
Director/PDMR Shareholding
This notification has been made in accordance with the
requirements of the EU Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Greg McMahon
-------------------------- -----------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------
a) Position/status PDMR
-------------------------- -----------------------------------------------
b) Initial notification Initial notification
/Amendment
-------------------------- -----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------
a) Name Mitchells & Butlers plc
-------------------------- -----------------------------------------------
b) LEI 213800JHYNDNB1NS2W10
-------------------------- -----------------------------------------------
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 Ordinary shares in Mitchells & Butlers
financial instrument, plc (Shares)
type of instrument
Identification code GB00B1FP6H53
-------------------------- -----------------------------------------------
b) Nature of the transaction Option granted to PDMR on 20 May 2021
under the Restricted Share Plan 2021.
This option will be exercisable for 90
days following vesting. No performance
measures are applied on vesting, but
the Committee will take into account
the following factors (amongst others)
when determining whether to exercise
its discretion to adjust the number of
shares vesting:
-- The Committee undertakes a thorough
'quality of earnings' assessment every
year prior to the finalisation of any
annual bonus outcomes. It is proposed
that these will also be used to inform
the assessment of awards under the RSP.
The annual quality of earnings assessment
takes into account financial performance
as well as guest experience and employee
engagement along with a broader-based
holistic assessment of business performance
and the achievement of KPIs;
-- Whether there has been material damage
to the reputation of the Company (in
such circumstances, responsibility and
hence any adjustments to the level of
vesting may be allocated collectively
or individually to participants); and
-- That the business has a stable and
appropriate capital structure in place
following the cessation of restrictions
on trade due to the Covid-19 pandemic
that enables the recovery of the business
and execution of the Company's strategic
priorities.
Subject to a dividend being paid or payable,
and once, and to the extent that, the
shares under the option granted have
vested, the participant will be granted
a further option over Dividend Accrued
Shares.
In accordance with the Company's Remuneration
Policy, a post vesting holding period
applies which requires Shares received
pursuant to such awards to be retained
for a period of two years from the end
of the vesting period, except for Shares
sold to pay income tax and national insurance
contributions arising upon vesting/exercise.
-------------------------- -----------------------------------------------
c) Price(s) and volume(s) The option is granted over a maximum
of 37,942 Shares. The share price used
to determine the number of Shares under
option was GBP3.081 per Share (being
the average of the middle market quotation
of a Share for the three days of 17/18/19
May 2021).
No amount was payable on the grant of
the option.
-------------------------- -----------------------------------------------
d) Aggregated information
- Aggregated volume N/A (single transaction)
- Price
-------------------------- -----------------------------------------------
e) Date of the transaction 20 May 2021
-------------------------- -----------------------------------------------
f) Place of the transaction n/a
-------------------------- -----------------------------------------------
Enquiries:
Denise Burton
Deputy Company Secretary
0121 498 6514
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END
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