MULBERRY GROUP PLC

Remuneration Information • Jul 11, 2017

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RNS Number : 6374K

Mulberry Group PLC

11 July 2017

Mulberry Group plc ("Mulberry" or the "Company")

Renaming of "Mulberry Group PLC Long Term Incentive Plan" to "Mulberry Group plc 2017 Performance Share Plan" and Grant of Options under the renamed plan

On 10 July 2017 the Board of Mulberry (the "Board") approved certain amendments to the Mulberry Group PLC Long Term Incentive Plan and its renaming to the Mulberry Group plc 2017 Performance Share Plan (the "Plan").

On the same date, the Remuneration Committee of the Board (the "Remuneration Committee) granted options (the "New Options") over ordinary shares of 5 pence each in the Company ("Ordinary Shares") to certain directors and other senior management of the Company under the Plan as set out below:

Name	Maximum number of New Options
Thierry Andretta (CEO)	200,000
Neil Ritchie (CFO)	50,000
Other senior management employees	130,500

The New Options are granted as nil cost options with no exercise price and shall vest upon the achievement by the Company of certain revenue and profit before interest and tax ("PBIT") targets set by the Remuneration Committee for the financial year ending 31 March 2020 (the "Results"). The number of New Options vesting shall be dependent on the Company's performance against these targets, with equal weighting given to revenue and PBIT. 25% of the New Options will vest provided the Results meet the lower end of the target range, increasing on a prorated basis to full vesting in the event that the Results meet the upper end of the target range.

The New Options will only vest following the announcement by the Company of its consolidated audited results for the year ending 31 March 2020 and the determination by the Remuneration Committee of the extent to which the vesting conditions have been met. Any resultant vesting of the New Options is, therefore, expected to occur by the end of July 2020 (the "Vesting Date"). The New Options will be exercisable between the Vesting Date and 10 July 2027. 

Following the grant of New Options, Thierry Andretta and Neil Ritchie, both directors of the Company, hold options over Ordinary Shares as follows:

Name	Options under the Mulberry Group plc 2008 Unapproved Share Option Plan	Maximum number of New Options under the Mulberry Group plc 2017 Performance Share Plan
Thierry Andretta	300,415	200,000
Neil Ritchie	24,500	50,000

The Company publicly discloses the following notifications:

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Thierry Andretta

2

Reason for the notification

a)

Position/status

Chief Executive Officer

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Mulberry Group plc

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

Options over Ordinary Shares

GB0006094303

b)

Nature of the transaction

Award made pursuant to the Mulberry Group plc 2017 Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	200,000

d)

Aggregated information

- Aggregated volume

- Price

NA

e)

Date of the transaction

10 July 2017

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Neil Ritchie

2

Reason for the notification

a)

Position/status

Chief Financial Officer

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Mulberry Group plc

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

Options over Ordinary Shares

GB0006094303

b)

Nature of the transaction

Award made pursuant to the Mulberry Group plc 2017 Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
nil	50,000

d)

Aggregated information

- Aggregated volume

- Price

NA

e)

Date of the transaction

10 July 2017

f)

Place of the transaction

Outside a trading venue

FOR FURTHER DETAILS PLEASE CONTACT:

Bell Pottinger Daniel de Belder / Elizabeth Snow	0203 772 2561
Mulberry Investor Relations Allegra Perry	0207 605 6795
GCA Altium Sam Fuller / Tim Richardson	0207 484 4040
Barclays Nicola Tennent / Thomas Dugarin	0203 134 9801

This information is provided by RNS

The company news service from the London Stock Exchange

END

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