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.
| 2019 | 2020 | 2021 | 2022 | ||||||
| Maximum number of shares |
102,000 |
114,000 |
148,000 |
172,000 |
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
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Chapel Down Group plc
Frazer Thompson Richard Woodhouse |
Chief Executive Finance Director |
01580 763 033 | |||
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finnCap Limited Geoff Nash/Simon Hicks Stephen Norcross |
Corporate Finance Corporate Broking |
020 7220 0500 |