RNS Announcement
Notification and public disclosure of Conditional Awards to an Executive Director.
4 November 2019
Following the commencement of his employment as Chief Executive Officer of McBride plc (the Company), and in line with the arrangements previously announced, Ludwig de Mot has today been granted the following awards as detailed below.
Buy-out Award
As set out in the notification issued by the Company on 4 October 2019 and in line with the Company's Remuneration Policy, the Company had agreed buy-out arrangements to compensate Mr de Mot for the forfeiture of incentive compensation from his former employment.
The Company confirms that on 1 November 2019 an award (structured as a conditional award) was granted to Mr de Mot over 176,429 shares under a one-off buy-out award agreement. The award has a reference grant value of £125,000 and its shares will ordinarily vest on 2 November 2020 subject to Mr de Mot being in the Company's employment and notice not having been given or received to terminate employment. The award is not subject to performance conditions.
The agreement was made in respect of terms agreed to facilitate the recruitment of Mr de Mot and was entered into pursuant to Rule 9.4.2(2) of the FCA Listing Rules.
Long-Term Incentive Plan
The Company confirms that, upon his commencement as Chief Executive Officer, an award (structured as a conditional award) was granted under the terms of the McBride plc 2014 Long Term Incentive Plan (the Plan) to Mr de Mot. The award was granted on 1 November 2019 and will vest at the end of a three-year period dependent upon the achievement of total shareholder return and earnings per share performance targets.
The ordinary shares will vest at the end of a three-year period depending on the achievement of performance targets set out in the Plan, and will not require any payment from Mr de Mot. Vested shares (net of tax) will be subject to a two year post vesting holding period.
This announcement and the following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation.
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1. |
Details of the Persons Discharging Managerial Responsibilities ("PDMR")/Relevant Employees/Person Closely Associated ("PCA") |
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a) |
Name
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Ludwig de Mot |
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2. |
Reason for the notification |
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b) |
Position/Status |
Chief Executive Officer
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c) |
Initial notification/amendment
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Initial Notification
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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a) |
Name |
McBride plc |
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b) |
LEI |
213800HX7FMPA2CIEF02 |
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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 |
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a) |
Description of the financial instrument, type of instrument
Identification Code
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Ordinary shares of 10p each
GB0005746358
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b) |
Nature of the transaction
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Conditional share award granted under a one-off buy-out arrangement.
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c) |
Price(s) and volume(s)
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d) |
Aggregated information Aggregated volume Price
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As above |
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e) |
Date of the transaction
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1 November 2019
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f) |
Place of transaction
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Outside of a trading venue |
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|
1. |
Details of the Persons Discharging Managerial Responsibilities ("PDMR")/Relevant Employees/Person Closely Associated ("PCA") |
|||||
|
a) |
Name
|
Ludwig de Mot |
||||
|
2. |
Reason for the notification |
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b) |
Position/Status |
Chief Executive Officer
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c) |
Initial notification/amendment
|
Initial Notification
|
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3. |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
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|
a) |
Name |
McBride plc |
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b) |
LEI |
213800HX7FMPA2CIEF02 |
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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 of instrument
Identification Code
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Ordinary shares of 10p each
GB0005746358
|
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b) |
Nature of the transaction
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Grant of an award under the Company's Long Term Incentive Plan as a conditional award of shares. Subject to continued service, normally vests after 3 years. Vested shares (net of tax) subject to a two year holding period.
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c) |
Price(s) and volume(s)
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d) |
Aggregated information Aggregated volume Price
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As above |
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e) |
Date of the transaction
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1 November 2019
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f) |
Place of transaction
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Outside of a trading venue |
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