TIDMFLK

RNS Number : 0376O

Fletcher King PLC

05 October 2021

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 
                           ------------------------------------------------------ 
 Reason for notification 
                           ------------------------------------------------------ 
 Position/Status            a) Executive Director 
                             b) Managing Director 
                             c) Finance Director 
                             d) Director of subsidiary company 
                           ------------------------------------------------------ 
 Initial notification/      Initial 
  Amendment 
                           ------------------------------------------------------ 
 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             Options over ordinary shares of 10p each 
  the financial 
  instrument, type 
  of instrument              GB0003425310 
 
  Identification 
  Code 
                           ------------------------------------------------------ 
 Nature of the              Grant of Options to subscribe for ordinary 
  transaction                shares 
                           ------------------------------------------------------ 
 
 Price(s) and                Price(s)    Volume(s) 
  volume(s) 
                             a) 50p      a) 250,000 
                              b) 50p      b) 250,000 
                              c) 50p      c) 200,000 
                              d) 50p      d) 100,000 
                            ----------  ------------ 
 
 Aggregated information 
 
  - Aggregated 
   Volume 
                             800,000 
  - Price                     50p 
                           ------------------------------------------------------ 
 Date of the transaction    5 October 2021 
                           ------------------------------------------------------ 
 Place of the               UK 
  transaction 
                           ------------------------------------------------------ 
 
 

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END

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October 05, 2021 03:01 ET (07:01 GMT)

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