Business
Grant of awards to Directors/PDMRs under LTIP
Grant of awards to Directors/PDMRs under LTIP.
About this update from Tortilla Mexican Grill Ltd.
[{"type":"text","content":"\n\n7 May 2024\n \nTortilla Mexican Grill plc\n(\"Tortilla\" or the \"Company\")\nGrant of awards to Directors/PDMRs under\nthe Tortilla Mexican Grill plc Long Term Incentive Plan 2021\n \nTortilla Mexican Grill plc, the largest and most successful fast-casual Mexican restaurant group in the UK, announces the grant of nil cost options (\"Nil Cost Options\") over ordinary shares of the Company to directors under the Tortilla Mexican Grill plc Long Term Incentive Plan 2021 (\"LTIP\").\nUnder the LTIP a limited number of eligible employees have been granted Nil Cost Options to subscribe for ordinary shares in the Company of £0.01 each (\"Shares\"), subject to stretching performance targets and continued employment. The Company announces that the following Directors and Persons Discharging Managerial Responsibility (\"PDMRs\") of the Company have been granted Nil Cost Options:\n\n\n\n\nName of Director/PDMR\n\n\nNumber of Shares subject to Nil Cost Option\n\n\n\n\nAndy Naylor\n\n\n461,224\n\n\n\n\nMaria Denny\n\n\n336,734\n\n\n\n\n \nThe Nil Cost Options were granted on 2 May 2024 and will vest on 2 May 2027.\nAll Nil Cost Options are subject to the malus and clawback provisions set out in the LTIP rules.\nAll unexercised Nil Cost Options will lapse on the day falling immediately prior to the tenth anniversary of the date of grant.\nThe total number of Shares under option, including the Award Shares, is now 2,154,905 (\"Total Option Shares\"), including 1,161,723 granted to Andy Naylor and 336,734 granted to Maria Denny.\nIn the event that all of the Award Shares are issued, all other existing options over Shares are exercised, and no other Shares have been issued by the Company at that time, the Total Option Shares will represent 5.28% of the resulting issued share capital of the Company.\"\nFor further information, please contact:\n\n\n\n\nTortilla Mexican Grill PLC\n\n\nVia Houston\n\n\n\n\nAndy Naylor, Chief Executive Officer\n\n\n\n\n\n\n\nMaria Denny, Chief Financial Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nLiberum Capital Limited (Nominated Adviser, Sole Broker)\n\n\nTel: 020 3100 2222\n\n\n\n\nAndrew Godber\n\n\n\n\n\n\n\nEdward Thomas\n\n\n\n\n\n\n\nNikhil Varghese\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nHouston (Public Relations)\n\n\nTel: 0204 529 0549\n\n\n\n\[email protected]\n\n\n\n\n\n\n\nKate Hoare\n\n\n\n\...