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LONDON - Chapel Down Group Plc (AIM:CDGP), England’s leading winemaker, has granted options over 2,315,387 ordinary shares to its executive directors under its Long-Term Incentive Plan, according to a company statement released Friday.
CEO James Pennefather received options for 1,734,691 shares, including 190,972 zero-cost options and 1,543,719 options with an exercise price of 35 pence per share. CFO Louan Mouton was granted options for 580,696 shares, comprising 125,000 zero-cost options and 455,696 options with an exercise price of 39.50 pence per share.
The exercise prices were determined based on the share price before the public announcement of each executive’s appointment. Pennefather’s appointment was announced on December 13, 2024, while Mouton’s was announced on March 4, 2025.
The zero-cost options will vest on December 31, 2027, subject to continued employment and achievement of Group performance conditions for the period from January 2025 through December 2027. Options with specified exercise prices will vest in thirds over three years, with the first third vesting on the anniversary of each executive’s start date.
Chapel Down, which describes itself as the market leader in English wines, operates over 1,000 acres of vineyards, representing approximately 9% of the UK’s total vineyard area. The company is listed on the London Stock Exchange (LON:LSEG)’s AIM market.
The LTIP options are designed to reward long-term performance that delivers value to shareholders, according to the press release statement.
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