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C&C Group plc announced on 20 January 2025 the grant of awards under its 2024 Long-Term Incentive Plan (LTIP). Roger White, CEO, received an award of 664,168 ordinary shares, and Andrew Andrea, Chief Financial and Transformation Officer, received an award of 299,727 ordinary shares, both at nil price. These awards are subject to a share price performance condition over a period ending 19 January 2028 and a two-year holding period from vesting.
| Date | 20 Jan 2025 |
| Time | 14:05:12 |
| Category | Director/PDMR dealings |
| ID | 9962T |
C&C Group plc
("C&C" or "the Group")
Grant of awards under 2024 Long-Term Incentive Plan ("LTIP")
C&C, the vertically integrated premium branded drinks group and leading drinks distributor to the UK and Ireland hospitality sectors, announces that on 20 January 2025, and following the approval of the Board's Remuneration Committee, it granted awards under and subject to the rules of the Group's 2024 LTIP (the "Awards") to Roger White, appointed to the Board of C&C as Chief Executive Officer with effect from 20 January 2025, and to Andrew Andrea, the Group's Chief Financial and Transformation Officer.
The Awards will vest subject to the satisfaction of a share price performance condition assessed over the period ending 19 January 2028 as set out in the table below. Share price growth will be measured between a start price when Roger White's appointment to the Board was announced and an end price at the vesting date, in each case with an appropriate averaging period applied. The Awards will be subject to a holding period of two years from vesting.
|
Share Price Growth* |
Extent to which the Performance Condition is satisfied |
|
10% or less than 10%
|
0% |
|
More than 10% but less than 35%
|
Calculated on a straight-line basis between 0% and 100%. |
|
35% or more than 35%
|
100% |
*The detailed performance condition includes discretion for the Remuneration Committee to take account of the impact on the share price of exceptional matters outside of management's control.
Details of the Awards made to Roger White and Andrew Andrea are provided in the below tables.
Notification of Transactions by Persons Discharging Managerial Responsibilities and Persons Closely Associated with them
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1 |
Details of the person discharging managerial responsibilities/person closely associated
|
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a) |
Name |
Roger White |
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2 |
Reason for the notification
|
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a) |
Position/status |
Person discharging managerial responsibilities (CEO) |
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b) |
Initial Notification Amendment |
Initial Notification
|
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3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
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a) |
Name |
C&C Group plc |
||||
|
b) |
LEI |
635400LNUHA2LDXXV850 |
||||
|
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 €0.01 each
ISIN: IE00B010DT83 |
||||
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b) |
Nature of the transaction |
Grant of Award under C&C Group plc 2024 LTIP.
|
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|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A - single transaction
|
||||
|
e) |
Date of the transaction |
20 January 2025 |
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|
f) |
Place of the transaction |
Outside a trading venue |
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Notification 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 Andrea |
||||
|
2 |
Reason for the notification
|
|||||
|
a) |
Position/status |
Person discharging managerial responsibilities (CFTO) |
||||
|
b) |
Initial Notification Amendment |
Initial Notification
|
||||
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|||||
|
a) |
Name |
C&C Group plc |
||||
|
b) |
LEI |
635400LNUHA2LDXXV850 |
||||
|
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 €0.01 each
ISIN: IE00B010DT83 |
||||
|
b) |
Nature of the transaction |
Grant of Award under C&C Group plc 2024 LTIP.
|
||||
|
c) |
Price(s) and volume(s) |
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A - single transaction
|
||||
|
e) |
Date of the transaction |
20 January 2025 |
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
ENQUIRIES
C&C Group plc
Email: investor.relations@candcgroup.ie
Investors/Analysts & UK Media:
Instinctif Partners
Justine Warren / Tim Pearson / Amelia Thorn
Tel: +44 (0)20 7457 2020
Email: candccapmkts@instinctif.com
Irish & Trade Media:
FTI Consulting
Jonathan Neilan / Paddy Berkery / Niamh O'Brien
Tel: +353 86 231 4135 / +353 86 602 5988 / +353 87 707 8379
Email: C&CGroup@fticonsulting.com
About C&C Group plc
C&C Group plc is a leading, vertically integrated premium drinks company which manufactures, markets and distributes branded beer, cider, wine, spirits, and soft drinks across the UK and Ireland.
· C&C Group's portfolio of owned/exclusive brands include Bulmers, the leading Irish cider brand and Tennent's, the leading Scottish beer brand; as well as a range of fast-growing, premium and craft ciders and beers, such as Heverlee, Menabrea, Five Lamps and Orchard Pig. C&C exports its Magners and Tennent's brands to over 40 countries worldwide.
· C&C Group has owned brand and contract manufacturing/packing operations in Co.Tipperary, Ireland and Glasgow, Scotland.
· C&C is the No.1 drinks distributor to the UK and Ireland hospitality sectors. Operating through the Matthew Clark, Bibendum, Tennent's and Bulmers Ireland brands, the Group has a market leading range, scale and reach including an intimate understanding of the markets it serves. Together this provides a key route-to-market for major international beverage companies.
C&C Group plc is an Irish incorporated FTSE 250 company headquartered in Dublin and is listed on the London Stock Exchange.