FRANCHISE BRANDS PLC — Remuneration Information 2022

Mar 11, 2022

National Storage Mechanism | Additional information

RNS Number : 5195E

Franchise Brands PLC

11 March 2022

11 March 2022

Franchise Brands PLC

("Franchise Brands", the "Group" or the "Company")

Grant of options and award of SARs

Franchise Brands (AIM: FRAN), a multi-brand international franchise business, announces that its Remuneration Committee yesterday approved the grant of options and award of share acquisition rights ("SARs") to employees and directors.

A total of 922,667 CSOP (Company Share Option Plan) options and 1,236,333 non-tax advantaged (non-approved) options, all with an exercise price of £1.50 per share (being the closing mid-market price of an ordinary share on 9 March 2022), have been granted. 

In addition, 1,177,000 SARs have been awarded to employees who are non-UK resident, with a grant price of £1.50 each. The SARs are conditional bonuses whose value will be calculated by reference to the amount by which the price of the Company's ordinary shares has risen above the grant price at the date of exercise, thus providing holders of SARs the same reward value as if the SARs were share options. The qualifying conditions and timing of vesting are identical to those within the share option schemes for UK employees.  All SARs are settled in cash when exercised. 

The CSOP options and non-approved options granted and the SARs awarded expire on 9 March 2032.

The CSOP options, non-approved options and SARs are all subject to satisfaction of the following performance conditions:

1)    as to 20 per cent. after reported fully diluted adjusted earnings per share ("EPS") achieves compound annual growth of 8 per cent. over each of the next three financial years;

2)    as to 100 per cent. after reported fully diluted adjusted EPS achieves compound annual growth of 15 per cent. over each of the next three financial years; and

3)    between 20 per cent. to 100 per cent. of their options on a sliding scale basis on EPS growth between the targets in 1) and 2) above.

Certain directors of the Company have been granted options or awarded SARs, details of which are set out below.

Director	Number of non-approved options granted	Number of SARs awarded	Total
Brian Hogan		360,000	360,000
Peter Molloy	150,000		150,000
Colin Rees	90,000		90,000
Tim Harris	60,000		60,000
Julia Choudhury	60,000		60,000

The notifications below, which have been made in accordance with the requirements of the UK Market Abuse Regulation, provides further detail.

Enquiries:

Franchise Brands plc	+ 44 (0) 1625 813231
Stephen Hemsley, Executive Chairman
Brian Hogan, Chief Financial Officer
Julia Choudhury, Corporate Development Director
Allenby Capital Limited (Nominated Adviser and Joint Broker)	+44 (0) 20 3328 5656
Jeremy Porter / Liz Kirchner (Corporate Finance) Amrit Nahal (Sales and Corporate Broking)
Dowgate Capital Limited (Joint Broker)	+44 (0) 20 3903 7715
James Serjeant / Russell Cook / Nicholas Chambers
MHP Communications (Financial PR)	+44 (0) 20 3128 8100
Katie Hunt	+44 (0) 7884 494112
	franchisebrands@mhpc.com

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

Directors:

Brian Hogan

Peter Molloy

Colin Rees

Tim Harris

Julia Choudhury

2

Reason for the notification

a)

Position/status

Directors of Franchise Brands plc

b)

Initial notification /Amendment

Initial notification

3

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

a)

Name

Franchise Brands plc

b)

LEI

213800CFRX6CJ8LCKN37

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 0.5p each in Franchise Brands plc

Identification code (ISIN) for Franchise Brands plc ordinary shares: GB00BD6P7Y24

b)

Nature of the transaction

Grant of CSOP options, non-approved options and award of SARs

c)

Price(s) and volume(s)

Exercise price: £1.50 

Director	Number of non-approved options granted	Number of SARs awarded	Total
Brian Hogan		360,000	360,000
Peter Molloy	150,000		150,000
Colin Rees	90,000		90,000
Tim Harris	60,000		60,000
Julia Choudhury	60,000		60,000

d)

Aggregated information

- Aggregated volume

- Price

n/a

e)

Date of the transaction

10 March 2022

f)

Place of the transaction

Outside a trading venue

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHFLFFLVFILLIF