2 May 2024
Virgin Wines UK plc
("Virgin Wines", the "Company" or the "Group")
Grant of Options - Director/PDMR Shareholding
Virgin Wines UK plc (AIM: VINO), one of the UK's largest direct-to-consumer online wine retailers announces that on 30 April 2024, under the terms of the Company's long term incentive plan ("LTIP"), the Board has approved the award of and granted nominal cost options over 877,636 ordinary shares of one penny each in the Company (the "Ordinary Shares") to the following directors and persons discharging managerial responsibilities (the "Options"):
| Director/ PDMR | Position | Options granted |
| Jay Wright | CEO | 477,254 |
| Jon Shannon | Commercial Director | 139,701 |
| Ian Long | Director of Wine Sales | 139,701 |
| Amanda Cherry | Financial Controller | 120,980 |
The Options have been granted subject to continued employment and performance conditions based on the Company's revenue and EBITDA for the year ending 30 June 2026. The Options have an exercise price of one penny per ordinary share, will vest from 30 April 2027 (the "Option Period") and will be exercisable at the end of the Option Period until 30 April 2034.
Following the grant of the Options, the total number of Ordinary Shares outstanding under the Group's LTIP is 4,613,178, representing 8.3 per cent. of the Company's issued share capital.
The Board believes it is key that the Group incentivises and retains directors and senior managers to drive the business forward, whilst aligning their interests with those of shareholders.
Enquiries:
| Virgin Wines UK plc | Via Hudson Sandler |
| John Risman, Non-Executive Chairman Jay Wright, CEO Graeme Weir, CFO
| |
| Liberum Capital Limited (Nominated Adviser and Sole Broker) | Tel: +44 20 3100 2222 |
| Edward Thomas Dru Danford John Fishley
| |
|
Hudson Sandler (Public Relations) |
Tel: +44 20 7796 4133 |
| Alex Brennan Dan de Belder Charlotte Cobb Harry Griffiths | |
Notes to editors:
Virgin Wines is one of the UK's largest direct-to-consumer online wine retailers. It is an award-winning business which has a reputation for supplying and curating high quality products, excellent levels of customer service and innovative ways of retailing.
The information set out below is provided in accordance with the requirements of Article 19(3) of the EU Market Abuse Regulation No 596/2014 (as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018).
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | 1. JAY WRIGHT 2. JON SHANNON 3. IAN LONG 4. AMANDA CHERRY | |
| 2 | Reason for the notification | ||
| a) | Position/status
| 1. CEO 2. COMMERCIAL DIRECTOR 3. DIRECTOR OF WINE SALES 4. FINANCIAL CONTROLLER | |
| b) | Initial notification /Amendment
| Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a)
| Name
| Virgin Wines UK plc | |
| b)
| LEI | 2138002RL2S1UV7CK716 | |
| 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
| Ordinary Shares of 1 penny each
ISIN: GB00BN33TR63 | |
| b)
| Nature of the transaction
| Awards made pursuant to the Virgin Wines Long Term Incentive Plan
| |
| c)
| Price(s) and volume(s)
| Price(s)
| Volume(s) |
| 1. Nil consideration 2. Nil consideration 3. Nil consideration 4. Nil consideration | 1. 477,254 2. 139,701 3. 139,701 4. 120,980 | ||
| d) | Aggregated information
- Aggregated volume
- Price
|
877,636
Nil consideration | |
| e)
| Date of the transaction
| 1. 30 April 2024 2. 30 April 2024 3. 30 April 2024 4. 30 April 2024 5. 30 April 2024 | |
| f)
| Place of the transaction
| Outside a trading venue
| |
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