LONDON--(BUSINESS WIRE)--
Chapel Down Group Plc
(`CDG' or `the Company')
EPIC: CDGP
Grant of Options
Chapel Down Group plc, the NEX listed English wine and drinks producer,
announces today that it has issued 536,000 options over ordinary shares
of 5 pence in the Company (“Ordinary Shares”) (the “Options”) to its US
distributor under the 2018 Option Scheme.
The Options have an exercise price of 88.5 pence per Ordinary Share and
are exercisable annually in February of each year. The table below
details the maximum number of shares that can be exercised each year.
The minimum number of options exercisable in each year is 70,000 with
any options between this and the maximum being subject to the
achievement of certain annual sales volumes. Any options that are not
exercised in any given year will automatically lapse.
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2019
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2020
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2021
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2022
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Maximum number of shares
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102,000
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114,000
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148,000
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172,000
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Commenting on the deal, Frazer Thompson CEO said
“The USA is – by some margin – our most important export market and
having a motivated and engaged importer and representative is vital. Our
brand is starting to perform well and our partners, ABCK Corp. will now
have the opportunity to have skin in the game. They give us access to
Southern Glazer’s Wine & Spirits – the largest wine distributor in the
USA - making our wines available to almost all great bars and
restaurants in selected States.”
Following the grant of Options, the Company has a total of 11,032,075
options over Ordinary Shares outstanding, representing 7.8% of the
Company’s issued share capital.
Contact
Chapel Down Group plc
Frazer Thompson
Richard Woodhouse
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Chief Executive
Finance Director
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01580 763 033
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finnCap Limited
Geoff Nash/Simon Hicks
Stephen Norcross
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Corporate Finance
Corporate Broking
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020 7220 0500
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View source version on businesswire.com: https://www.businesswire.com/news/home/20180712005340/en/
Chapel Down Group plc
Source: Chapel Down Group plc