DIRECTOR/PDMR DEALING – GRANT OF OPTIONS-HOTEL CHOCOLAT GROUP PLC

DIRECTOR/PDMR DEALING – GRANT OF OPTIONS-HOTEL CHOCOLAT GROUP PLC

Director/PDMR Dealing - Grant of Options

The Company announces that on 4 December 2023 it granted an option over 416,667 ordinary shares of 0.1p in the Company ("Ordinary Shares") that it was contractually committed to grant to Chief Financial Officer, Jon Akehurst, who is a director and PDMR of the Company (the "Option").  The Option was granted pursuant to the Hotel Chocolat Group plc 2016 Long Term Incentive Plan (the "Plan").

In the normal course, the Option would have been granted following publication of the Group's FY2023 preliminary results.  However, the Company was in a closed period at that time due to the existence of inside information about the recommended cash acquisition of the Company by Hive Bidco, Inc, which was announced on 16 November 2023.  Accordingly, as agreed with Hive Bidco, Inc., the award of the Option to the Chief Financial Officer, together with the award of Options over a further 152,000 Ordinary Shares to other senior managers who were internally promoted or recruited into the Group in recent months, has now been made following that announcement.

The Option has been granted subject to the same performance conditions as apply to the 2021 LTIP awards described in the Company's Annual Report and Accounts 2023 but, subject to the scheme of arrangement by which the proposed acquisition of the Company will be effected becoming unconditional, will vest and become exercisable in full at that time. 

The Option has an exercise price of 0.1 pence per Ordinary Share and is subject to the Rules of the Plan.

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

 

Jonathan Akehurst

2

 

Reason for the notification

 

a)

 

Position/status

 

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

 

Hotel Chocolat Group plc

b)

 

LEI

 

213800B4D3J15PZHVY29

 

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

 

 

Option over Ordinary shares of 0.1 pence each

 

ISIN: GB00BYZC3B04

b)

 

Nature of the transaction

 

 

Grant of option pursuant to the Hotel Chocolat Group plc 2016 Long Term Incentive Plan

c)

 

Price(s) and volume(s)

 

 

 

Price(s)

Volume(s)

 

Nil

 416,667

 

d)

 

Aggregated information

 

 

- Aggregated volume

- Price

 

 N/A

 

 

 

e)

 

Date of the transaction

 

2023-12-04

f)

 

Place of the transaction  

 

Outside a trading venue

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