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
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| Reason for notification | Initial 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 | ||||||||
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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) 34.07p b) 34.07p c) 34.07p d) 34.07p
| a) 250,000 b) 250,000 c) 200,000 d) 100,000
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| 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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