Bakkavor Group PLC Director/PDMR Shareholding (4426K)
10 April 2018 - 9:08PM
UK Regulatory
TIDMBAKK
RNS Number : 4426K
Bakkavor Group PLC
10 April 2018
10 April 2018
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs") AND PERSONS
CLOSELY ASSOCIATED WITH THEM IN ACCORDANCE WITH THE MARKET ABUSE
REGULATIONS
On 9 April 2018 the following awards over ordinary shares of 2
pence in Bakkavor Group plc were granted under the Bakkavor Group
plc Long Term Incentive Plan to the following PDMRs:
PDMR No. of shares under Type of Award
Award
----------------- -------------------- ------------------------
Peter Gates 399,372 Performance Share Award
----------------- -------------------- ------------------------
Michael Edwards 162,770 Performance Share Award
----------------- -------------------- ------------------------
Michael Edwards 81,385 Restricted Share Award
----------------- -------------------- ------------------------
Pippa Greenslade 76,966 Performance Share Award
----------------- -------------------- ------------------------
Pippa Greenslade 38,483 Restricted Share Award
----------------- -------------------- ------------------------
Einar Gustafsson 104,851 Performance Share Award
----------------- -------------------- ------------------------
Einar Gustafsson 52,425 Restricted Share Award
----------------- -------------------- ------------------------
Ivan Clingan 89,367 Performance Share Award
----------------- -------------------- ------------------------
Ivan Clingan 44,683 Restricted Share Award
----------------- -------------------- ------------------------
The awards will ordinarily become exercisable (or vest as
relevant) on the third anniversary of grant subject to the
grantee's continued service and, in the case of the Performance
Share Awards, only to the extent to which the adjusted earnings per
share and total shareholder return performance conditions set for
the award are satisfied.
Details of the full notifications received by Bakkavor Group plc
are set out below.
1 Details of the person discharging managerial responsibilities
/ person closely associated
--- -----------------------------------------------------------------------------
a) Name Peter Gates
--- ------------------------------- --------------------------------------------
2 Reason for Notification
--- -----------------------------------------------------------------------------
a) Position/status Chief Financial Officer
--- ------------------------------- --------------------------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--- -----------------------------------------------------------------------------
a) Name Bakkavor Group plc
--- ------------------------------- --------------------------------------------
b) LEI 213800COL7AD54YU9949
--- ------------------------------- --------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
--- -----------------------------------------------------------------------------
a) Description of the financial Ordinary Shares of 2 pence each in
instrument, type of Bakkavor Group plc
instrument
Identification code GB00BF8J3Z99
--- ------------------------------- --------------------------------------------
b) Nature of the transaction Grant of a nil cost option award under
the Bakkavor Group plc Long Term Incentive
Plan. The award will ordinarily become
exercisable three years from the date
of grant, subject to continued service
and to the extent to which the adjusted
earnings per share and total shareholder
return performance conditions are met,
and once exercisable may be ordinarily
exercised at any point up until the
tenth anniversary of the date of grant.
--- ------------------------------- --------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- --------------------
Nil 399,372 Performance
Share Award
--------- --------------------
--- ------------------------------- --------------------------------------------
d) Aggregated information
* Aggregated volume Not applicable - single transaction
* Price
--- ------------------------------- --------------------------------------------
e) Date of the transaction 9 April 2018
--- ------------------------------- --------------------------------------------
f) Place of the transaction Outside a trading venue
--- ------------------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
--- ------------------------------------------------------------------------------
a) Name Michael Edwards
--- ------------------------------- ---------------------------------------------
2 Reason for Notification
--- ------------------------------------------------------------------------------
a) Position/status Chief Operating Officer, UK
--- ------------------------------- ---------------------------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- ---------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--- ------------------------------------------------------------------------------
a) Name Bakkavor Group plc
--- ------------------------------- ---------------------------------------------
b) LEI 213800COL7AD54YU9949
--- ------------------------------- ---------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
--- ------------------------------------------------------------------------------
a) Description of the financial Ordinary Shares of 2 pence each in
instrument, type of Bakkavor Group plc
instrument
Identification code GB00BF8J3Z99
--- ------------------------------- ---------------------------------------------
b) Nature of the transaction Grant of nil cost option awards under
the Bakkavor Group plc Long Term Incentive
Plan. One award is a Performance Share
Award and the other a Restricted Share
Award both of which will ordinarily
become exercisable three years from
the date of grant, subject to continued
service and once exercisable may ordinarily
be exercised at any point up until
the tenth anniversary of the date of
grant. The Performance Share Award
will only vest to the extent to which
the adjusted earnings per share and
total shareholder return performance
conditions are met. No performance
conditions apply to the Restricted
Share Award.
--- ------------------------------- ---------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- --------------------
Nil 162,770 Performance
Share Award
Nil
81,385 Restricted
Share Award
--------- --------------------
--- ------------------------------- ---------------------------------------------
d) Aggregated information
* Aggregated volume 244,155
Nil
* Price
--- ------------------------------- ---------------------------------------------
e) Date of the transaction 9 April 2018
--- ------------------------------- ---------------------------------------------
f) Place of the transaction Outside a trading venue
--- ------------------------------- ---------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
--- ------------------------------------------------------------------------------
a) Name Pippa Greenslade
--- ------------------------------- ---------------------------------------------
2 Reason for Notification
--- ------------------------------------------------------------------------------
a) Position/status Group Human Resources Director
--- ------------------------------- ---------------------------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- ---------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--- ------------------------------------------------------------------------------
a) Name Bakkavor Group plc
--- ------------------------------- ---------------------------------------------
b) LEI 213800COL7AD54YU9949
--- ------------------------------- ---------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
--- ------------------------------------------------------------------------------
a) Description of the financial Ordinary Shares of 2 pence each in
instrument, type of Bakkavor Group plc
instrument
Identification code GB00BF8J3Z99
--- ------------------------------- ---------------------------------------------
b) Nature of the transaction Grant of nil cost option awards under
the Bakkavor Group plc Long Term Incentive
Plan. One award is a Performance Share
Award and the other a Restricted Share
Award both of which will ordinarily
become exercisable three years from
the date of grant, subject to continued
service and once exercisable may ordinarily
be exercised at any point up until
the tenth anniversary of the date of
grant. The Performance Share Award
will only vest to the extent to which
the adjusted earnings per share and
total shareholder return performance
conditions are met. No performance
conditions apply to the Restricted
Share Award.
--- ------------------------------- ---------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- -------------------
Nil 76,966 Performance
Share Award
Nil 38,483 Restricted
Share Award
--------- -------------------
--- ------------------------------- ---------------------------------------------
d) Aggregated information
* Aggregated volume 115,449
Nil
* Price
--- ------------------------------- ---------------------------------------------
e) Date of the transaction 9 April 2018
--- ------------------------------- ---------------------------------------------
f) Place of the transaction Outside a trading venue
--- ------------------------------- ---------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
--- --------------------------------------------------------------------------------
a) Name Einar Gustafsson
--- ------------------------------- -----------------------------------------------
2 Reason for Notification
--- --------------------------------------------------------------------------------
a) Position/status Managing Director - Bakkavor China
--- ------------------------------- -----------------------------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- -----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--- --------------------------------------------------------------------------------
a) Name Bakkavor Group plc
--- ------------------------------- -----------------------------------------------
b) LEI 213800COL7AD54YU9949
--- ------------------------------- -----------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
--- --------------------------------------------------------------------------------
a) Description of the financial Ordinary Shares of 2 pence each in
instrument, type of Bakkavor Group plc
instrument
Identification code GB00BF8J3Z99
--- ------------------------------- -----------------------------------------------
b) Nature of the transaction Grant of conditional awards under the
Bakkavor Group plc Long Term Incentive
Plan. One award is a Performance Share
Award and the other a Restricted Share
Award both of which will ordinarily
vest three years from the date of grant,
subject to continued service. The Performance
Share Award will only vest subject
to the extent to which the adjusted
earnings per share and total shareholder
return performance conditions are met.
No performance conditions apply to
the Restricted Share Award.
--- ------------------------------- -----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- --------------------
Nil 104,851 Performance
Share Award
Nil 52,425 Restricted
Share Award
--------- --------------------
--- ------------------------------- -----------------------------------------------
d) Aggregated information
* Aggregated volume 157,276
Nil
* Price
--- ------------------------------- -----------------------------------------------
e) Date of the transaction 9 April 2018
--- ------------------------------- -----------------------------------------------
f) Place of the transaction Outside a trading venue
--- ------------------------------- -----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
--- --------------------------------------------------------------------------------
a) Name Ivan Clingan
--- ------------------------------- -----------------------------------------------
2 Reason for Notification
--- --------------------------------------------------------------------------------
a) Position/status President and Chief Executive Officer
of Bakkavor USA
--- ------------------------------- -----------------------------------------------
b) Initial notification/Amendment Initial notification
--- ------------------------------- -----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--- --------------------------------------------------------------------------------
a) Name Bakkavor Group plc
--- ------------------------------- -----------------------------------------------
b) LEI 213800COL7AD54YU9949
--- ------------------------------- -----------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
--- --------------------------------------------------------------------------------
a) Description of the financial Ordinary Shares of 2 pence each in
instrument, type of Bakkavor Group plc
instrument
Identification code GB00BF8J3Z99
--- ------------------------------- -----------------------------------------------
b) Nature of the transaction Grant of conditional awards under the
Bakkavor Group plc Long Term Incentive
Plan. One award is a Performance Share
Awards and the other a Restricted Share
Award both of which will ordinarily
vest three years from the date of grant,
subject to continued service. The Performance
Share Award will only vest to the extent
to which the adjusted earnings per
share and total shareholder return
performance conditions are met. There
are no performance conditions applying
to Restricted Share Award.
--- ------------------------------- -----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- -------------------
Nil 89,367 Performance
Share Award
Nil 44,683 Restricted
Share Award
--------- -------------------
--- ------------------------------- -----------------------------------------------
d) Aggregated information
* Aggregated volume 134,050
Nil
* Price
--- ------------------------------- -----------------------------------------------
e) Date of the transaction 9 April 2018
--- ------------------------------- -----------------------------------------------
f) Place of the transaction Outside a trading venue
--- ------------------------------- -----------------------------------------------
-Ends-
Enquiries
Company Secretarial:
Simon Witham, General Counsel and Company Secretary +44 (0) 20
7908 6142
Institutional investors and analysts:
Tamarin Bibow, Head of Investor Relations +44 (0) 20 7908
6143
Media enquiries:
Tulchan Communications +44 (0) 20 7353 4200
Susanna Voyle, Will Smith, Jessica Reid
About Bakkavor
Bakkavor is the leading provider in the large and fast-growing
UK Fresh Prepared Food ("FPF") market, which consists of the four
categories of Meals, Salads, Desserts and Pizza & Bread, and
has a growing international presence in the US and China.
In the UK the Group is the number one producer by market share
in all four FPF categories, supplying all of the UK's leading
grocery retailers, including Tesco, M&S, Sainsbury's and
Waitrose.
The International segment has operations in the US and China,
supplying both retail and foodservice customers.
LEI number: 213800COL7AD54YU9949
This information is provided by RNS
The company news service from the London Stock Exchange
END
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