12 December 2019
Notification of interests of directors and persons discharging managerial responsibilities
Marston's PLC (the "Company") announces that on 12 December 2019 the Directors and other Person Discharging Managerial Responsibilities ("PDMR") listed below were granted awards over ordinary shares in the Company under the Company's 2014 Long Term Incentive Plan (the "Plan"). The number of awards granted on 12 December 2019 was calculated using the market price at the close of trading on the London Stock Exchange on 11 December 2019, being £1.294 per ordinary share.
The awards will vest subject to the satisfaction of performance metrics which are based on a combination of Underlying Earnings per Share (as regards 40% of the award), Net Cash Flow (as regards 40% of the award) and Relative Total Shareholder Return (as regards 20% of the award) assessed over the Company's 2019/20, 2020/21 and 2021/22 financial periods, details of which will be set out in the Company's Annual Report and Accounts for the period ended 28 September 2019. To the extent an award vests, it will be released (so that the participant is entitled to acquire the shares) following the end of a further two year holding period.
| Name of individual | Designation | Number of shares subject to LTIP award |
| Andrew Andrea | Director | 372,124 |
| Ralph Findlay | Director | 555,620 |
| Richard Westwood | PDMR | 218,640 |
The Notification of Dealing Forms set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
Enquiries:
Anne-Marie Brennan, Group Secretary, Marston's PLC, +44 (0) 1902 329163
Notification of Dealing Form
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||
| a) | Name | Andrew Andrea
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| 2. | Reason for the notification | |||||
| a) | Position/status | Director and PDMR (Chief Financial and Corporate Development Officer)
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| b) | Initial notification/ amendment | Initial Notification | ||||
| 3. | Details of the Issuer | |||||
| a) | Name | Marston's 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
Identification code | Ordinary Shares of 7.375 pence each
ISIN: GB00B1JQDM80 | ||||
| b) | Nature of the transaction | Grant of award under the Long Term Incentive Plan in the form of a nil-cost option. | ||||
| c) | Price(s) and volumes(s) |
| ||||
| d) | Aggregated information - Aggregate volume
- Price |
N/A
| ||||
| e) | Date of the transaction | 2019-12-12 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||
| a) | Name | Ralph Findlay
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| 2. | Reason for the notification | |||||
| a) | Position/status | Director and PDMR (CEO)
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| b) | Initial notification/ amendment | Initial Notification | ||||
| 3. | Details of the Issuer | |||||
| a) | Name | Marston's 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
Identification code | Ordinary Shares of 7.375 pence each
ISIN: GB00B1JQDM80 | ||||
| b) | Nature of the transaction | Grant of award under the Long Term Incentive Plan in the form of a nil-cost option. | ||||
| c) | Price(s) and volumes(s) |
| ||||
| d) | Aggregated information - Aggregate volume
- Price |
N/A
| ||||
| e) | Date of the transaction | 2019-12-12 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of the Person Discharging Managerial Responsibility ("PDMR")/person closely associated with them ("PCA") | |||||
| a) | Name | Richard Westwood
| ||||
| 2. | Reason for the notification | |||||
| a) | Position/status | PDMR (MD, Marston's Beer Company)
| ||||
| b) | Initial notification/ amendment | Initial Notification | ||||
| 3. | Details of the Issuer | |||||
| a) | Name | Marston's 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
Identification code | Ordinary Shares of 7.375 pence each
ISIN: GB00B1JQDM80 | ||||
| b) | Nature of the transaction | Grant of award under the Long Term Incentive Plan in the form of a nil-cost option. | ||||
| c) | Price(s) and volumes(s) |
| ||||
| d) | Aggregated information - Aggregate volume
- Price
|
N/A
| ||||
| e) | Date of the transaction | 2019-12-12 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||