VIRGIN WINES UK PLC

Remuneration Information • Dec 7, 2022

National Storage Mechanism | Additional information

RNS Number : 9398I

Virgin Wines UK PLC

07 December 2022

7 December 2022

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 6 December 2022, under the terms of the Company's long term incentive plan ("LTIP"), the Board has approved the award of and granted Performance Share Awards ("PSA") and Restricted Share Awards ("RSA") comprising nominal cost options over a total number of 1,269,021 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	PSA Options granted	RSA Options granted
Jay Wright	CEO	346,233	-
Graeme Weir	CFO	264,396	-
Gareth Nutt	CTO	196,408	-
Jon Shannon	Commercial Director	102,225	34,173
Amanda Cherry	Head of Group Finance	109,032	62,200
Ian Long	Director of Wine Sales	125,903	28,451

The PSA Options have been granted subject to continued employment and performance conditions based on the Company's revenue and EBITDA over a three-year performance period to 30 June 2025. The PSA Options will vest from 6 December 2025 (the "Option Period") and will be exercisable at the end of the Option Period until 6 December 2032.

The RSA Options have been granted subject to continued employment and achievement of a personal performance condition. Subject to those conditions, the RSA Options will vest 50% on 6 December 2023 and 50% on 6 December 2024 and will be exercisable until 6 December 2032.

All the Options have an exercise price of one penny per ordinary share.

The Board believes it is key that the Group incentivise and retain 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
Jay Wright, CEO Graeme Weir, CFO
Liberum Capital Limited (Nominated Adviser and Sole Broker)	Tel: +44 20 3100 2222
Clayton Bush Edward Thomas John Fishley Lucas Bamber
Hudson Sandler (Public Relations)	virginwines@hudsonsandler.com Tel: +44 20 7796 4133
Alex Brennan Dan de Belder Charlotte Cobb Harry Griffiths

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.   GRAEME WEIR 3.   GARETH NUTT 4.   JON SHANNON 5.   AMANDA CHERRY 6.   IAN LONG
2	Reason for the notification
a)	Position/status	1.   CEO 2.   CFO 3.   CTO 4.   COMMERCIAL DIRECTOR 5.   FINANCIAL CONTROLLER 6.   DIRECTOR OF WINE SALES
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 5.   Nil consideration 6.   Nil consideration	1.   346,233 2.   264,396 3.   196,408 4.   136,398 5.   171,232 6.   154,354
d)	Aggregated information  - Aggregated volume  - Price	1,269,021 Nil consideration
e)	Date of the transaction	1.   6 December 2022 2.   6 December 2022 3.   6 December 2022 4.   6 December 2022 5.   6 December 2022 6.   6 December 2022
f)	Place of the transaction	Outside a trading venue

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 Company, which is headquartered in Norwich, UK, was established in 2000 by the Virgin Group and was subsequently acquired by Direct Wines in 2005 before being bought out by the Virgin Wines management team, led by CEO Jay Wright and CFO Graeme Weir, in 2013. It listed on the London Stock Exchange's Alternative Investment Market (AIM) in 2021.

Virgin Wines has more than 700 wines, 100 spirits and 250 beers in its portfolio which it sells to an active customer base of 186,000 members. It has approximately 200 employees and more than 40 trusted winemaking partners and suppliers around the world.

The Company drives the majority of its revenue though its fast-growing WineBank subscription scheme, using a variety of marketing channels, as well as through its Wine Advisor team, Wine Plan channel and Pay As You Go service. It partners with more than 350 trusted brands through its strategic and commercial partnerships.

Along with its extensive range of award-winning products, Virgin Wines was delighted to be named Online Drinks Retailer of the Year for 2022 at this year's Drinks Retailing Awards, as well as receiving the bronze award for Contact Centre of the Year at the 2022 UK National Contact Centre Awards.

https://www.virginwinesplc.co.uk/

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