At the end of the savings period (maturity), as long as you are still employed by Mitchells & Butlers, you can use your savings to buy Mitchells & Butlers shares at the option price. You will have 6 months in which to buy the shares.

Cut-off date for your instruction (6pm UK time) Normal Exercise Date*
Friday 20 September 2024 Tuesday 01 October 2024
Friday 27 September 2024 Monday 07 October 2024
Friday 04 October 2024 Monday 14 October 2024
Friday 11 October 2024 Monday 21 October 2024
Friday each week Monday of the following week (8 days post cut-off)

The last date you can submit a sale instruction (if you have not missed any payments) is Monday 31 March 2025 and this instruction will be processed on 14 April 2024.

For fees and charges relating to the sale of shares, please refer to the Share Sale Service Terms and Conditions which are available online.

*Bank Holidays may necessitate a change to this schedule.

If you sell your shares your proceeds will be sent to the account you receive your salary into after the sale has completed. It can take up to 5 working days to reach your account once payment has been sent.

If you keep your shares, allow 10 days to receive your share certificate.

No, there is no tax-free bonus payment to be paid at maturity.

There is no income tax to pay on any gain when exercising your option on or after the maturity date. If you decide to buy Mitchells & Butlers shares, Capital Gains Tax (CGT) will be due on the gain that you make when you sell the shares. The gain is the difference between the option price and the price at which the shares are sold. The current CGT allowance threshold for the 2024/2025 tax year is £3,000. More information about tax can be found here.

During the savings contract you can miss up to a maximum of 12 monthly payments. If you have missed some payments, your savings contract will be extended by the number of payments that you have missed and your maturity date will also be delayed by the same number of months.

You have 6 months starting on the maturity date to exercise your option or to withdraw your savings. In most cases this will be by the 31 March 2025, unless you have missed any payments. If you have missed any payments, your option expiry date will be extended by the number of months you have missed.

It is entirely your decision as to whether or not you exercise your option. Before making your decision, you may wish to check the current Mitchells & Butlers plc share price. If the market price of a Mitchells & Butlers plc share is higher than the option price, then by exercising your option, you will be able to buy Mitchells & Butlers plc shares at a cheaper price than you could otherwise. If you are in any doubt as to the course of action you should take, you should consult an independent financial adviser.

CGT can be reported to HMRC via Self Assessment tax return, or by using the ‘real-time’ CGT service. More information can be found here.