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
Details of the person discharging managerial responsibilities / person closely associated
Reason for the notification
Chief Financial Officer
Initial notification /Amendment
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
Hotel Chocolat Group plc
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
Description of the financial instrument, type of instrument
Option over Ordinary shares of 0.1 pence each
Nature of the transaction
Grant of option pursuant to the Hotel Chocolat Group plc 2016 Long Term Incentive Plan
Price(s) and volume(s)
- Aggregated volume
Date of the transaction
Place of the transaction
Outside a trading venue