C&C Group Plc Director/PDMR Shareholding (7614C)
June 14 2023 - 1:05PM
UK Regulatory
TIDMCCR
RNS Number : 7614C
C&C Group Plc
14 June 2023
C&C Group plc
('C&C')
2023 Long Term Incentive Plan ('LTIP') Awards
On 14 June 2023, Patrick McMahon, Group Chief Executive Officer
and Group Chief Financial Officer, was granted the following award
under the LTIP, in the form of nil cost options over EUR0.01
ordinary shares in the Company:
Name Number of shares
Patrick McMahon 639,769
-----------------
(1) Calculated using a share price of GBP1.3587 (being the
average of the mid-market closing price of the three working days
before the date of grant) converted into EUR1.5826 using an
exchange rate of GBP1: EUR1.1648.
The awards will vest subject to the satisfaction of performance
metrics based on Earnings per Share, Relative TSR and an
Environmental metric assessed across the three-year performance
period FY2024 - FY2026. In each case, threshold vesting will be 25%
of the maximum.
The vesting of the awards will be subject to an assessment of
the Company's underlying financial performance across the
three-year performance period. No award will vest until the end of
the full three-year period, and Executive Directors' awards are
then subject to a further two-year holding period.
The details of the performance metrics for the awards are set
out below.
Performance conditions
Measure Weighting Further detail
Earnings per 45% Threshold - 15.2c
share Maximum - 16.0c
---------- ----------------------------------------------
Relative TSR 35% Threshold: The Company's TSR performance
over the performance period(1) is at
the median of the comparator group(2)
Maximum: The Company's TSR performance
over the performance period(1) is at
the upper quartile of the comparator
group(2)
---------- ----------------------------------------------
Environmental 20% To give impetus to C&C's de-carbonisation
efforts, the Company has set a target
to reduce its Scope 1 and Scope 2 emissions*
over the next three financial years ending
FY2026.
Threshold - 6% reduction
Maximum - 12% reduction
---------- ----------------------------------------------
1. The performance period for the relative TSR measure will be
the three financial years FY2024, FY2025 and FY2026, with TSR
performance assessed by reference to a three month average TSR
measurement before the start of the performance period and at the
end of the performance period.
2. The comparator group for the relative TSR measure will be
Domino's Pizza Group, JD Wetherspoon, Mitchells & Butlers, SSP,
Fullers, Gym Group, Hollywood Bowl, Marston's, Restaurant Group,
Ten Entertainment Group, Britvic, Cranswick, Hilton Food Group,
Premier Foods, Tate & Lyle, AG Barr, Bakkavor, Greencore and
FeverTree.
* Scope 1: direct emissions from owned or controlled sources,
which includes emissions from company-owned or operated facilities
and vehicles.
Scope 2: indirect emissions from the generation of purchased
energy e.g. electricity, steam, heat and cooling.
Notification of Transactions by Persons Discharging Managerial
Responsibilities and Persons Closely Associated with them
This form is required for disclosure of transactions under
Article 19 of Regulation (EU) No 596/2014 of the European
Parliament and of the Council of 16 April 2014 on market abuse
(Market Abuse Regulation)
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name Patrick McMahon
---------------------- ------------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status Person discharging managerial responsibilities
(Group Chief Executive Officer and Group Chief
Financial Officer)
---------------------- ------------------------------------------------
b) Initial Notification Initial Notification
Amendment
---------------------- ------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------
a) Name C&C Group plc
---------------------- ------------------------------------------------
b) LEI 635400LNUHA2LDXXV850
---------------------- ------------------------------------------------
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 Ordinary Shares of EUR0.01 each
of the financial
instrument, ISIN: IE00B010DT83
type of
instrument
Identification
code
---------------------- ------------------------------------------------
b) Nature of Grant of options under the C&C 2015 Long Term
the transaction Incentive Plan
---------------------- ------------------------------------------------
c) Price(s) Price(s) Volume(s)
and volume(s) Nil 639,769
----------
---------------------- ------------------------------------------------
d) Aggregated
information Same as c)
- Aggregated
volume
- Price
---------------------- ------------------------------------------------
Date of the
e) transaction 14/06/2023
---------------------- ------------------------------------------------
f) Place of Outside a trading venue
the transaction
---------------------- ------------------------------------------------
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END
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