BROWN (N) GROUP PLC — Remuneration Information 2018

Aug 24, 2018

National Storage Mechanism | Additional information

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RNS Number : 8548Y

Brown (N.) Group PLC

24 August 2018

N Brown Group plc

("N Brown" or the "Company")

Grant of nil cost options

N Brown announces that on 22 August 2018 nil cost options were granted to its Chief Executive, Angela Spindler over 454,519 shares and its Group Chief Financial Officer, Craig Lovelace over 238,771 shares ("Awards") under the terms of the N Brown Group plc 2014 Long-Term Incentive Plan.

The number of shares placed under Award was based on the closing mid-market price for the preceding day which was 140 pence.

The performance conditions and targets for the 2018 Awards are therefore as follows: 

	Percentage of each part of the award that will vest	Annual growth in adjusted EPS in excess of CAGR (compound annual growth rate) over 3 financial years	Free cashflow is defined as cashflow generated from operations excluding receivables. Targets are cumulative over 3 financial years	Annual growth in total revenue over 3 financial years
Weighting		50%	30%	20%
Below threshold	0%	Less than CAGR +3%	Less than £350m	Less than 3% CAGR
Threshold*	25%	At least CAGR +3%	At least £350m	At least 3% CAGR
Maximum*	100%	At least CAGR +8%	At least £420m	At least 5% CAGR

*For performance that is between the threshold and maximum levels, awards vest on a straight-line basis.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Angela Spindler

2

Reason for the notification

a)

Position/status

Chief Executive

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

N Brown Group plc

b)

LEI

213800QFPJQF2NUVAP09

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

Nil cost options over Ordinary Shares of 11 1/19 pence

ISIN: GB00B1P6ZR11

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil Cost Options	454,519

d)

Aggregated information

- Aggregated volume

- Price

N/A - single transaction

e)

Date of the transaction

22 August 2018

f)

Place of the transaction

London Stock Exchange, Main Market

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Craig Lovelace

2

Reason for the notification

a)

Position/status

Group 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

N Brown Group plc

b)

LEI

213800QFPJQF2NUVAP09

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

Nil cost options over Ordinary Shares of 11 1/19 pence

ISIN: GB00B1P6ZR11

b)

Nature of the transaction

Grant of options

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil Cost Options	238,771

d)

Aggregated information

- Aggregated volume

- Price

N/A - single transaction

e)

Date of the transaction

22 August 2018

f)

Place of the transaction

London Stock Exchange, Main Market

- Ends -

For further information:

ENQUIRIES: Theresa Casey, 0161 238 2298

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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