Chapel Down Group plc
("Chapel Down" or the "Company" or the "Group")
EPIC: CDGP

Director/PDMR Grant of options

Chapel Down, the market leader in English wines, announces that, under its Company Share Option Plan, it has today granted options over, in aggregate, 2,371,761 ordinary shares of 5p in the Company ("Ordinary Shares") to its executive directors and senior management to incentivise long-term performance (the "LTIP Options") at an exercise price of 42.5p. The LTIP Options granted to Executive Directors are as detailed below:

In addition, a further 1,136,468 options are being granted to six employees who are on the Senior Management team.

The LTIP Options are intended to reward long term performance that delivers value to shareholders. Vesting occurs three years from the date of the award and is subject to the following performance conditions:

1)    the Operating Profit Performance Condition will be satisfied by reference to the operating profit of the Group, as shown in the Company's consolidated group audited accounts for the financial year ending 31 December 2024 (the "Operating Profit"), and by reference to the table below:

2)    the Net Sales Revenue Performance Condition will be satisfied by reference to the net sales revenue of the Group, as shown in the Company's consolidated group audited accounts for the financial year ending 31 December 2024 (the "Net Sales Revenue"), and by reference to the table below:

Subject to vesting, the LTIP Options are exercisable for up to 10 years from the date of grant and will lapse if not exercised by such date.

Following this announcement, there is a total of 4,174,093 options over Ordinary Shares outstanding, representing 2.62% of the current issued share capital of the Company.

The notification below, which has been made in accordance with the requirements of the Market Abuse Regulation, provides further detail.

Contact:

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.