9th Apr 2015 17:09
9 April 2015
JUST EAT plc
Share Dealings by Directors and Connected Persons
The Company has today been notified of the sale of ordinary shares in the Company ("Shares") on the open market at an average price of 434.4221 pence per Share by certain Directors of the Company and persons connected with them. The Shares sold were held under the JUST EAT Joint Share Ownership Plan ("JSOP").
The beneficial interest in Shares held under the JSOP ("JSOP Shares") is jointly held between the relevant Director and an Employee Benefit Trust ("EBT") established by the Company prior to its IPO as part of its remuneration arrangements. On sale of a JSOP Share, the participant is entitled to the sale proceeds in excess of a threshold amount determined when the awards under the JSOP were made (the "Threshold"). The EBT is entitled to the balance of the sale proceeds.
Name and position of Director | JSOP Shares sold in which Director had an interest |
John Hughes, Chairman | 480,000 |
David Buttress, Chief Executive Officer | 747,242 (Note 1) |
Mike Wroe, Chief Financial Officer | 570,628 (Note 2) |
Note 1: Of these JSOP Shares sold, the beneficial interest in 3,000 JSOP Shares was transferred by David Buttress to Gemma Buttress immediately prior to the sale.
Note 2: Of these JSOP Shares sold, the beneficial interest in 3,000 JSOP Shares was transferred by Mike Wroe to Rachel Wroe immediately prior to the sale.
In addition, on 9th April 2015 in Jersey, 30,000 JSOP Shares were transferred from joint ownership with the EBT to the sole ownership of John Hughes for a consideration of £0.1204 per share (being the amount of the Threshold), and the beneficial interest in 151,875 JSOP Shares was transferred by Sue Hughes to John Hughes.
Following these transactions, these Directors have the following interests in the share capital of the Company:
Names and positions of Directors | Number of Shares held | Percentage of total Issued share capital of Shares held | Number of remaining JSOP Shares held (vested and unvested) |
John Hughes, Chairman | 165,000 | 0.03% | 2,200,800 |
David Buttress, Chief Executive Officer | 2,216,511 | 0.39% | 2,931,508 |
Mike Wroe, Chief Financial Officer | 1,107,945 | 0.19% | 1,934,972 |
For further information please contact:
JUST EAT plc | |
Adam Kay, Head of Investor Relations | +44 (0)20 3667 6961 |
Brunswick Group LLP | +44 (0) 20 7404 5959 |
Natalia Dyett, Chris Buscombe | |
Related Shares:
Just Eat