5 October 2021
Fletcher King plc
("Fletcher King" or "the Company")
Grant of Share Options
The Board of Fletcher King PLC (AIM: FLK) announces that, further to the announcement of 19 October 2016 regarding the introduction of a new Enterprise Management Incentive plan and the announcement of 28 April 2020 regarding the surrender of options, the remuneration committee has today 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 were granted under the rules of the Company's EMI scheme.
The Options are exercisable at the closing mid-market price of Ordinary Shares ("Market Value") as at 4 October 2021, being 50 pence per Ordinary Share (the "Exercise Price").
The Options are ordinarily exercisable after a minimum period of five years and conditional on the Market Value of an Ordinary Share at the exercise date having been, for the immediately preceding period of 30 trading days, at least 20% higher than the Market Value of a Share at the date of grant. 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 |
In aggregate, the 800,000 Options granted to the Directors and PDMRs represent approximately 8.69 per cent. of the current issued share capital of the Company.
In addition, a further 120,000 Options were 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 option arrangements is 920,000 representing approximately 9.99 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
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| Reason for notification | | ||||||||
| Position/Status | a) Executive Director b) Managing Director c) Finance Director d) Director of subsidiary company
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| Initial notification/ Amendment | Initial | ||||||||
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
| Name | Fletcher King plc | ||||||||
| LEI |
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| 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 | 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) 50p b) 50p c) 50p d) 50p
| a) 250,000 b) 250,000 c) 200,000 d) 100,000
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| Aggregated information
- Aggregated Volume
- Price |
800,000 50p | ||||||||
| Date of the transaction | 5 October 2021 | ||||||||
| Place of the transaction | UK
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