15th Dec 2014 16:53
Enterprise Inns plc (the 'Company')
Director/PDMR Shareholding
15 December 2014
Grant of 2014 Deferred Share Awards
The Company confirms that on 12 December 2014 it granted to each of the following executive directors a deferred share award (structured as an option) for the year ended 30 September 2014 under the Enterprise Inns 2005 Annual Bonus Plan ('2005 Plan'), in respect of the number of ordinary shares of 2.5 pence in the Company ('Shares'), set out below:
Name/Position | Shares placed under Deferred Share Award | Name/Position | Shares placed under Deferred Share Award |
W S Townsend Chief Executive Officer | 114,028 | N R Smith Chief Financial Officer
| 99,487 |
These deferred share awards are in respect of the above individuals' total annual bonus award under the 2005 Plan for the financial year ended 30 September 2014 and are not subject to further performance criteria. In the normal course, 60% of any bonus awarded under the 2005 Plan is paid in cash with the remaining 40% deferred into Shares. W S Townsend and N R Smith this year took 60% of their bonus in cash and 40% has therefore been deferred into Shares as above.
Under the rules of the 2005 Plan, the deferred share awards will be satisfied upon exercise by the transfer of Shares to the individuals from the Company's Employee Benefit Trust. For W S Townsend and N R Smith these deferred share awards will normally be exercisable from 12 December 2017 to 12 May 2018 for a total payment of £1 by each director.
Vesting of 2011 Deferred Share Awards and Sale of Shares
Also on 12 December 2014, pursuant to deferred share awards granted on 12 December 2011 under the 2005 Plan, the following directors acquired the following Shares for a total payment of £1 each.
Name/Position | Shares acquired on exercise of Deferred Share Award | Name/Position | Shares acquired on exercise of Deferred Share Award |
W S Townsend Chief Executive Officer | 443,525 | N R Smith Chief Financial Officer
| 425,531 |
On 12 and 15 December 2014, the following directors sold Shares as follows:
Name/Position | Shares sold at average price of 101.21p | Name/Position | Shares sold at average price of 101.21p |
W S Townsend Chief Executive Officer | 208,507 Shares to cover tax and costs plus 93,000 Shares Total Shares sold: 301,507 | N R Smith Chief Financial Officer | 200,046 Shares to cover tax and costs plus 100,000 Shares Total Shares sold: 300,046 |
Total Shares held
The total number and percentage of Shares beneficially held by the following directors immediately following these notifications has increased and is now as follows:
Name/Position | Total holding and % of issued Shares (excluding treasury) | Name/Position | Total holding and % of issued Shares (excluding treasury) |
W S Townsend Chief Executive Officer | 863,309 0.17% | N R Smith Chief Financial Officer
| 150,485 0.03% |
This notification is provided in accordance with DTR 3.1.4R (1).
Name of contact and telephone number for queries:
L A Togher
Company Secretary
0121 733 7700
Related Shares:
EI Group