Majestic Wine PLC Grant of conditional share awards and options (9284E)
22 July 2016 - 4:00PM
UK Regulatory
TIDMWINE
RNS Number : 9284E
Majestic Wine PLC
22 July 2016
For Immediate Release 22 July 2016
Majestic Wine PLC
("Company" or the "Group")
Grant of conditional share awards and options
On 9 June 2016 Majestic Wine PLC announced two new employee
share schemes as part of a remuneration review that was underpinned
by three key principles:
-- Alignment with the 2019 ambition of the transformation plan
-- Democratic participation benefitting all employees
-- Incentivising sustainable growth by measuring relative Total Shareholder Return
Today the Group is announcing the first awards under these
schemes:
Conditional share awards and nil-cost options over a total of
1,917,773 Ordinary Shares of 7.5 pence each ("shares") were granted
on 22 July 2016 as part of the Company's newly launched Long Term
Incentive Plan ("LTIP") including conditional awards over 1,426,379
shares, in aggregate, to 493 employees from store manager level
upwards throughout the Group.
In addition to the 493 employees the below five PDMR's (Persons
Discharging Managerial Responsibilities) also received conditional
awards and nil-cost options:
Name Title Number of Ordinary Shares
subject to LTIP award
---------------- ------------------------------- --------------------------
James Crawford Chief Financial Officer 117,541
---------------- ------------------------------- --------------------------
Managing Director Majestic
John Colley Retail 64,532
---------------- ------------------------------- --------------------------
Luke Jecks Managing Director Naked Wines 122,639
---------------- ------------------------------- --------------------------
Managing Director Majestic
Ben Nicholl Commercial 69,141
---------------- ------------------------------- --------------------------
Derek Hardy Chief Technology Officer 117,541
---------------- ------------------------------- --------------------------
Rowan Gormley, Chief Executive Officer and owner of 4,528,881
contingently returnable shares acquired through the sale of Naked
Wines, declined to take an award and requested his potential award
be redistributed to staff.
These conditional share awards and nil-cost options constitute a
one-time award to current staff to cover the period of the
Transformation (Financial Years 2017-2019) and will vest over 3-5
years subject to continued employment and the satisfaction of a
Relative Total Shareholder Return criteria. Further grants under
the LTIP during the transformation period will be limited to new
staff or those changing roles.
Following these grants the Company has a total of 3,279,973
unvested conditional share awards and unexercised options issued
under employee share schemes(1) , equating to approximately 4.6% of
the issued ordinary share capital of the Company.
Rowan Gormley, Chief Executive commented:
"We are committed to delivering shareholder value by doing the
right thing for our people, customers and suppliers. Today's share
awards show that:
a) We're serious about aligning our people and our shareholders'
interests
b) We are committed to delivering our transformation plan
c) We are focused on investing in our people to reward the
delivery of sustainable growth in the whole Group"
Notes:
(1) The conditional share awards issued as part of the Naked
Wines acquisition are excluded from shares reported as part of
employee share schemes.
For further information, please contact:
Majestic Wine PLC Tel: 01923 298 200
Rowan Gormley, Chief Executive Officer
James Crawford, Chief Financial Officer
Gabriella Clinkard, Public & Investor Tel: 07891 206239
Relations
Buchanan (Financial PR) Tel: 0207 466 5000
Sophie McNulty / Hannah Brandstaetter Email: majesticwine@buchanan.uk.com
/ Catriona Flint
Investec (NOMAD & Joint Broker) Tel: 0207 597 5970
Garry Levin / David Flin / David Anderson/Carlton
Nelson
Liberum (Joint Broker) Tel: 020 3100 2222
Peter Tracey / Anna Hartropp / Richard
Bootle
About Majestic Wine PLC:
Majestic Wine PLC is a leading wine specialist, operating in
four separate divisions, each with the fundamental goal of
delivering sustained growth in shareholder value by doing the right
thing for the Group's customers, suppliers and people:
--Majestic Retail - The UK's largest specialist wine retailer,
with 210 branches in the UK and 2 in France. We help people find
the wines they will love through over 900 highly trained,
specialist store team members. Sales for the year ended 28 March
2016 were GBP244.0m.
--Naked Wines - Funds independent winemakers to make exclusive
wines at preferential prices which we pass onto customers. Naked
Wines currently has 152 winemakers in 14 countries and 301,000
Mature Angels (Customers). Sales for the full year ended 28 March
2016 were GBP104.3m (GBP102.5m of this was post acquisition).
--Majestic Commercial - A specialist on-trade supplier who aims
to support businesses to make their wine lists more profitable,
with the unique advantage of running their supply chain through
Majestic Retail stores. Sales for the year ended 28 March 2016 were
GBP45.6m.
--Lay and Wheeler - A Specialist fine wine merchant. Lay &
Wheeler aims to be a trusted guide for people who love fine wine,
supplying the world's finest wines with a personal service. Sales
for the year ended 28 March 2016 were GBP10.0m.
This information is provided by RNS
The company news service from the London Stock Exchange
END
DSHAKDDDDBKBBOB
(END) Dow Jones Newswires
July 22, 2016 02:00 ET (06:00 GMT)
Naked Wines (LSE:WINE)
Historical Stock Chart
From Apr 2024 to May 2024
Naked Wines (LSE:WINE)
Historical Stock Chart
From May 2023 to May 2024