Director/PDMR Shareholding

RNS Number : 6491V

Bakkavor Group PLC

09 April 2019

 

9 April 2019

Bakkavor Group plc

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.

On 9 April 2019 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 person(s) discharging managerial responsibilities:

PDMR	No. of shares under Award	Type of Award
Peter Gates	579,509	Performance Share Award
Michael Edwards	236,188	Performance Share Award
Michael Edwards	118,094	Restricted Share Award
Donna-Maria Lee	119,955	Performance Share Award
Donna-Maria Lee	59,977	Restricted Share Award
Einar Gustafsson	175,227	Performance Share Award
Einar Gustafsson	87,659	Restricted Share Award
Ben Waldron	96,852	Performance Share Award
Ben Waldron	48,426	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 the Company 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 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 instrument, type of instrument Identification code	Ordinary Shares of 2 pence each in Bakkavor Group plc 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 579,509 Performance Share Award
d)	Aggregated information -     Aggregated volume -     Price	Not applicable - single transaction
e)	Date of the transaction	9 April 2019
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
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 instrument, type of instrument Identification code	Ordinary Shares of 2 pence each in Bakkavor Group plc 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 Nil 236,188 Performance Share Award 118,094 Restricted Share Award
d)	Aggregated information -     Aggregated volume -     Price	354,282 Nil
e)	Date of the transaction	9 April 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Donna-Maria Lee
2	Reason for Notification
a)	Position/status	Group Human Resources Director
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 instrument, type of instrument Identification code	Ordinary Shares of 2 pence each in Bakkavor Group plc 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 Nil 119,955 Performance Share Award 59,977 Restricted Share Award
d)	Aggregated information            -   Aggregated volume            -   Price	179,932 Nil
e)	Date of the transaction	9 April 2019
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 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 instrument, type of instrument Identification code	Ordinary Shares of 2 pence each in Bakkavor Group plc 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 Nil 175,227 Performance Share Award 87,659 Restricted Share Award
d)	Aggregated information -     Aggregated volume -     Price	262,886 Nil
e)	Date of the transaction	9 April 2019
f)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ben Waldron
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 instrument, type of instrument Identification code	Ordinary Shares of 2 pence each in Bakkavor Group plc 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 Nil 96,852 Performance Share Award 48,426 Restricted Share Award
d)	Aggregated information -     Aggregated volume -     Price	145,278 Nil
e)	Date of the transaction	9 April 2019
f)	Place of the transaction	Outside a trading venue

-Ends-

Enquiries

Company Secretarial:

Simon Witham, General Counsel and Company Secretary                                 [phone]

Institutional investors and analysts:

Sally Barret-Jolley, Head of Corporate Affairs                                                        [phone]

Media enquiries:

Tulchan Communications                                                                                       [phone]

Will Smith, Jessica Reid

ABOUT BAKKAVOR

Bakkavor is the leading provider of fresh prepared food ("FPF") in the UK, with a growing international presence in the United States and China. The Group is the number one by market share in the UK in the four FPF product categories of Meals, Salads, Desserts and Pizza & Bread, providing high-quality, fresh, healthy and convenient food. Its customers include all the well-known UK grocery retailers as well as some of the world's best-known international food brands.

The Group's International segment operates in the US and China. As these FPF markets continue to grow, Bakkavor seeks to leverage its UK expertise in order to build its presence in these territories.

Bakkavor was founded in 1986 and has its headquarters in London. The Group has over 19,000 employees and operates 25 factories in the UK, 5 in the US and 9 in China.

LEI number: 213800COL7AD54YU9949

 

END

 

 

DSHLLFIFSVIAIIA