RNS Number : 3123H
Fletcher King PLC
19 March 2024
 

19 March 2024

 

 

Fletcher King plc  

           

("Fletcher King" or "the Company")

 

 

Grant of Share Options

 

 

The Board of Fletcher King PLC (AIM: FLK) announces that the Company has awarded a total of 920,000 options over ordinary shares of 10 pence each in the Company ("Ordinary Shares") to certain Directors, PDMRs and employees (the "Options"). The Options have been granted under the rules of the Company's existing EMI scheme.

 

The Options are exercisable at 34.07 pence per Ordinary Share (the "Exercise Price"), being the preceding 30-day VWAP as of market close on 15 March 2024.

 

The Options are exercisable after a minimum period of five years subject to a performance condition. The performance condition requires that, the Market Value of an Ordinary Share on the exercise date has been at least 40.88 pence, over the immediately preceding period of 30 trading days. The Options expire on the tenth anniversary of grant if not exercised.

 

The Directors and PDMRs who have been awarded Options are as follows:

 

Name

Position/PDMR

Number of Options granted

Robert Dickman

Executive Director

250,000

Paul Andrews

Managing Director

250,000

Peter Bailey

Finance Director

200,000

Paul Morris

PDMR

100,000

Total


800,000

 

In aggregate, the 1,600,000 Options granted to the Directors and PDMRs represent approximately 15.6% per cent. of the current issued share capital of the Company.

 

In addition, a further 120,000 Options have been awarded to certain employees of the Company, on the same terms as above.

 

Following the grant of the Options, the total number of Ordinary Shares outstanding under these option arrangements is 1,840,000 representing approximately 18% per cent. of the Company's issued share capital.

 

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

 

 

Enquiries:

 

Fletcher King plc

David Fletcher / Peter Bailey

Tel: 0207 493 8400

 

Cairn Financial Advisers LLP

James Caithie / Liam Murray

Tel: 020 7213 0880

 

Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014

Details of the person discharging managerial responsibilities/person closely associated

Name

a) Robert Dickman

b) Paul Andrews

c) Peter Bailey

d) Paul Morris

 

Reason for notification

 Initial Notification

Position/Status

a) Executive Director

b) Managing Director

c) Finance Director

d) Director of subsidiary company

 

Initial notification/

Amendment

Initial

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

Name

Fletcher King plc

 

LEI

               


21380047ETCYL7UA8W49

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

Description of the financial instrument, type of instrument

Identification Code

Options over ordinary shares of 10p each

 

 GB0003425310

Nature of the transaction

Grant of Options to subscribe for ordinary shares

Price(s) and volume(s)







Price(s)

Volume(s)


a) 34.07p

b) 34.07p

c) 34.07p

d) 34.07p

 

a) 250,000

b) 250,000

c) 200,000

d) 100,000

 



Aggregated information

- Aggregated Volume

 - Price

 

 

800,000

34.07p

Date of the transaction

18 March 2024

Place of the transaction

UK

 

                                                                                                                                                                 

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