CHAPEL DOWN GROUP PLC — Director's Dealing 2022

Apr 25, 2022

National Storage Mechanism | Additional information

RNS Number : 1322J

Chapel Down Group PLC

25 April 2022

Chapel Down Group plc

("Chapel Down" or the "Company" or the "Group")

EPIC: CDGP

Director/PDMR Grant of options

Chapel Down, the market leader in English wines, announces that, under its Company Share Option Plan, it has today granted options over, in aggregate, 2,371,761 ordinary shares of 5p in the Company ("Ordinary Shares") to its executive directors and senior management to incentivise long-term performance (the "LTIP Options") at an exercise price of 42.5p. The LTIP Options granted to Executive Directors are as detailed below:

Name of Grantee	Title	Number of Shares subject to the Option
Andrew Carter	CEO	882,352
Mark Harvey	CMO	352,941

In addition, a further 1,136,468 options are being granted to six employees who are on the Senior Management team.

The LTIP Options are intended to reward long term performance that delivers value to shareholders. Vesting occurs three years from the date of the award and is subject to the following performance conditions:

1)    the Operating Profit Performance Condition will be satisfied by reference to the operating profit of the Group, as shown in the Company's consolidated group audited accounts for the financial year ending 31 December 2024 (the "Operating Profit"), and by reference to the table below:

Operating Profit	Percentage of the Shares subject to an Award Vesting
Below £1,800,000	0%
£1,800,000	15%
Above £1,800,001 but below £2,000,000	Straight-line sliding scale between 15% and 30% in increments of 1.5% for every £20,000 that the Operating Profit is above £1,800,001
£2,000,000 and above	30%

2)    the Net Sales Revenue Performance Condition will be satisfied by reference to the net sales revenue of the Group, as shown in the Company's consolidated group audited accounts for the financial year ending 31 December 2024 (the "Net Sales Revenue"), and by reference to the table below:

Net Sales Revenue	Percentage of the Shares subject to an Award Vesting
Below £18,090,000	0%
£18,090,000	35%
Above £18,090,001 but below £20,100,000	Straight-line sliding scale between 35% and 70% in increments of 3.5% for every £201,000 that the Net Sales Revenue is above £18,090,001
£20,100,000 and above	70%

Subject to vesting, the LTIP Options are exercisable for up to 10 years from the date of grant and will lapse if not exercised by such date.

Following this announcement, there is a total of 4,174,093 options over Ordinary Shares outstanding, representing 2.62% of the current issued share capital of the Company.

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

Contact:

Chapel Down Group plc		01580 763 033
Andrew Carter	Chief Executive
Richard Woodhouse	Chief Financial Officer
finnCap Ltd		020 7220 0500
Simon Hicks/Milesh Hindocha	Corporate Finance
Tim Redfern/Charlotte Sutcliffe	ECM
Maitland/amo		020 7379 5151
Sam Cartwright	Partner
Joanna Davidson	Associate Partner

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

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

Andrew Carter

2.       

Reason for the Notification

a)

Position/status

CEO

b)

Initial notification/Amendment

Initial notification

3.   

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

a)

Name

Chapel Down Group plc

b)

LEI

213800BAUCZ4OXC97W72

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

Options over Ordinary Shares of 5 pence each

Identification code

GB0032706284

b)

Nature of the transaction

Grant of Options over Ordinary Shares

c)

Price(s) and volume(s)

Volume	Price
882,352	42.5p

d)

Aggregated information:

·       Aggregated volume

·       Price

See 4(c) above

e)

Date of the transaction

25 April 2022

f)

Place of the transaction

Off market transaction

1.   

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mark Harvey

3.       

Reason for the Notification

a)

Position/status

CMO

b)

Initial notification/Amendment

Initial notification

4.   

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

a)

Name

Chapel Down Group plc

b)

LEI

213800BAUCZ4OXC97W72

5.   

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

Options over Ordinary Shares of 5 pence each

Identification code

GB0032706284

b)

Nature of the transaction

Grant of Options over Ordinary Shares

c)

Price(s) and volume(s)

Volume	Price
352,941	42.5p

d)

Aggregated information:

·       Aggregated volume

·       Price

See 4(c) above

e)

Date of the transaction

25 April 2022

f)

Place of the transaction

Off market transaction

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