Grant of LTIP Awards
Cake Box Holdings plc has granted 411,194 performance share options under its Long Term Incentive Plan to three Persons Discharging Managerial Responsibility (PDMRs), including the CEO, CFO, and CCO. The CEO received 163,222 options valued at £293,800, the CFO received 147,528 options valued at £265,550, and the CCO received 100,444 options valued at £180,800, all with an exercise price of £0.01. These awards vest over time, contingent on achieving specific Earnings Per Share (EPS) targets, with a minimum two-year holding period post-vesting and subject to malus and clawback provisions.
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Cake Box Holdings plc (AIM: CBOX), the UK's largest retailer of fresh cream celebration cakes, announces that it has today granted a total of 411,194 performance share options ("LTIP Awards") to the following persons discharging management responsibility ("PDMRs") under the Company's Long Term Incentive Plan.
| Name of Director | Role | Number of LTIP Awards | Exercise price | Total value of LTIP Awards and options over ordinary shares |
|---|---|---|---|---|
| Sukh Ram Chamdal | CEO | 163,222 | £0.01 | £ 293,800 |
| Michael Botha | CFO | 147,528 | £0.01 | £ 265,550 |
| Jaswir Singh | CCO | 100,444 | £0.01 | £ 180,800 |
The LTIP Awards will vest over the period set out below, on a sliding scale, subject to satisfaction of the EPS performance condition described in the paragraph below. There is a minimum holding period of two years post vesting and the awards are subject to malus and clawback provisions.
25% of the LTIP Awards vests if an undiluted EPS of 18.04p is achieved in the third financial year starting from the financial year in which the date of grant occurs. An additional 0.1% of the Award vests for every 0.0033p achieved above an undiluted EPS of 18.04p, up to a maximum of 100% of the LTIP Awards granted if an aggregate EPS of 20.54p is achieved in the third financial year starting from the financial year in which the date of grant occurs in.
Further detail is set out in the PDMR disclosure table below.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Sukh Chamdal | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Director | ||||
| b) | Initial notification /Amendment | Initial notification | ||||
| a) | Name | Cake Box Holdings plc | ||||
| b) | LEI | 213800HZ61RLHNSM2698 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | LTIP Awards - Options over Ordinary Shares in the Company GB00BDZWB751 | ||||
| b) | Nature of the transaction | Grant of LTIP Awards | ||||
| c) | Price(s) and volume(s) | Exercise Price Volume(s) 1 pence 163,222 Options | ||||
| d) | Aggregated information | N/A (single transactions) | ||||
| e) | Date of the transactions | 9 March 2026 | ||||
| f) | Place of the transaction | off market | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Michael Botha | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Director | ||||
| b) | Initial notification /Amendment | Initial notification | ||||
| a) | Name | Cake Box Holdings plc | ||||
| b) | LEI | 213800HZ61RLHNSM2698 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | LTIP Awards - Options over Ordinary Shares in the Company GB00BDZWB751 | ||||
| b) | Nature of the transaction | Grant of LTIP Awards | ||||
| c) | Price(s) and volume(s) | Exercise Price Volume(s) 1 pence 147,528 Options | ||||
| d) | Aggregated information | N/A (single transactions) | ||||
| e) | Date of the transactions | 9 March 2026 | ||||
| f) | Place of the transaction | off market | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Dr Jaswir Singh | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Director | ||||
| b) | Initial notification /Amendment | Initial notification | ||||
| a) | Name | Cake Box Holdings plc | ||||
| b) | LEI | 213800HZ61RLHNSM2698 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | LTIP Awards - Options over Ordinary Shares in the Company GB00BDZWB751 | ||||
| b) | Nature of the transaction | Grant of LTIP Awards | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information | N/A (single transactions) | ||||
| e) | Date of the transactions | 9 March 2026 | ||||
| f) | Place of the transaction | off market |
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