Bakkavor Group PLC Director/PDMR Shareholding (8471C)
14 October 2022 - 2:05AM
UK Regulatory
TIDMBAKK
RNS Number : 8471C
Bakkavor Group PLC
13 October 2022
13 October 2022
Bakkavor Group plc
(the "Company" or "Bakkavor")
NOTIFICATION DEALING WITH GRANT OF AWARDS TO PDMRS
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them in accordance with the Market Abuse
Regulations.
LTIP Awards
On 13 October 2022 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 persons discharging
managerial responsibilities:
PDMR No. of shares under Type of Award
Award
Pete Laport 137,573 Performance Share Award
-------------------- ------------------------
Pete Laport 68,786 Restricted Share Award
-------------------- ------------------------
The awards are structured as conditional awards.
The awards will ordinarily vest on the third anniversary of
grant subject to the grantee's continued service and, in the case
of the Performance Share Award, only to the extent to which the
performance conditions set for the award are satisfied.
The performance conditions for the Performance Share Award
relate to financial targets set for the Bakkavor USA business for
the 2024 financial year.
Notifications
Details of the full notifications received by the Company are
set out below.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Pete Laport
------------------------------- -----------------------------------------------
2 Reason for Notification
--------------------------------------------------------------------------------
a) Position/status President and Chief Executive Officer
of Bakkavor USA
------------------------------- -----------------------------------------------
b) Initial notification/Amendment Initial Announcement
------------------------------- -----------------------------------------------
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 share 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 to the extent
to which performance conditions are
met. No performance conditions apply
to the Restricted Share Award.
------------------------------- -----------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 137,573 Performance
Share Award under
LTIP
Nil
68,786 Restricted
Share Award under
LTIP
--------------------
------------------------------- -----------------------------------------------
d) Aggregated information
* Aggregated volume 206,359
Nil
* Price
------------------------------- -----------------------------------------------
e) Date of the transaction 13 October 2022
------------------------------- -----------------------------------------------
f) Place of the transaction Outside a trading venue
------------------------------- -----------------------------------------------
-Ends-
Enquiries
Company Secretarial:
Annabel Tagoe-Bannerman, Group General Counsel and Company
Secretary +44 (0) 20 7908 6130
Institutional investors and analysts:
Emily Daw, Head of Investor Relations
+44 (0) 20 7908 6114
About Bakkavor
We are the leading provider of fresh prepared food ("FPF") in
the UK, and our presence in the US and China positions the Group
well in these high-growth markets. We leverage our consumer insight
and scale to provide innovative food that offers quality, choice,
convenience, and freshness. Our c.19,000 colleagues operate from 46
sites across our three markets supplying a portfolio of over 3,200
products across meals, pizza & bread, salads and desserts to
leading grocery retailers in the UK and US, and international food
brands in China.
LEI number: 213800COL7AD54YU9949
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END
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