Grant of Options

Patisserie Holdings Plc 

(the "Company", together with its subsidiary undertakings, the "Group")

Grant of Options

Patisserie Holdings Plc (AIM: CAKE), a leading UK branded café and casual dining group, announces that options over 2,024,666 ordinary shares of one penny each ("Ordinary Shares") were granted on 27 June 2014 to executive directors and certain employees of the Group under the Company's Long Term Incentive Plan (the "LTIP") and Employee Share Option Scheme (the "ESOS").

The grants under the LTIP comprise an aggregate of 1,666,666 Ordinary Shares with an exercise price of 170p per share and the grants under the ESOS comprise an aggregate of 358,000 Ordinary Shares with an exercise price of 199p per share.

The LTIP grants referenced above comprise the following grants to executive directors:

Paul May: LTIP award over 1,000,000 Ordinary Shares; and

Chris Marsh: LTIP award over 666,666 Ordinary Shares.

The options under the LTIP and the ESOS become exercisable only if Earnings Per Share ("EPS") linked performance criteria and a three year service condition are both met. In normal circumstances, the options can be exercised (subject to performance conditions being met) for a period of 2 years from 27 June 2017. The performance criteria are as follows:

LTIP performance criteria

ESOS performance criteria

The options under the ESOS will be subject to the performance condition that compound EPS growth over the three year period is greater than RPI plus 5% for 100% vesting.

Enquiries:

Patisserie Holdings Plc +44 (0)121 777 7000

Luke Johnson, Executive Chairman

Paul May, Chief Executive Officer

Chris Marsh, Finance Director

Nomad & Broker

Canaccord Genuity +44 (0)20 7523 8000

Bruce Garrow

Peter Stewart

Joe Weaving

Financial Public Relations

Maitland +44 (0)20 7379 5151

Neil Bennett

James Devas