REG - Bakkavor Group PLC - Director/PDMR Shareholding

BakkavorAnnouncement

15/09/2020 12:55

RNS Number : 0660Z
  
Bakkavor Group PLC
  
15 September 2020
  
 


 
15 September 2020
 
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 15 September 2020 the following award over ordinary shares of 2 pence in Bakkavor Group plc was granted under the Bakkavor Group plc Long Term Incentive Plan to the following person discharging managerial responsibilities:
 




PDMR


No. of shares under Award


Type of Award




Peter Gates


1,118,051


Performance Share Award




 
The award will ordinarily become exercisable on the third anniversary of grant subject to the grantee's continued service and to the extent to which the performance condition set for the award is satisfied. The performance condition shall measure the Company's total shareholder return over the three-year period commencing on grant of the award relative to that of a bespoke group of comparator companies. 
 
A term of the award includes that the Company's remuneration committee retains discretion to reduce (including to nil) the extent to which the award would otherwise vest. Such discretion may be applied in exceptional circumstances to protect against inappropriate levels of vesting taking into account such factors as the remuneration committee considers relevant (including but not limited to overall performance of the Company and/or general market and share response in the context of the COVID-19 pandemic).
 
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 a total shareholder return performance condition 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


1,118,051 Performance Share Award




 




d)


Aggregated information
-    Aggregated volume
-    Price


 
Not applicable - single transaction




e)


Date of the transaction


15 September 2020




f)


Place of the transaction


Outside a trading venue




 
-Ends-
Enquiries
Company Secretarial:
Annabel Tagoe-Bannerman, General Counsel and Company Secretary                                 +44 (0) 20 7908 6130
 
Institutional investors and analysts:
Sally Barret-Jolley, Head of Corporate Affairs                                                                          +44 (0) 20 7908 6143 
Media enquiries:
Tulchan Communications                                                                                                          +44 (0) 20 7353 4200
Will Smith
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, Marks & Spencer, Sainsbury's and Waitrose.
The International segment has operations in the US and China, supplying both retail and foodservice customers. 
LEI number: 213800COL7AD54YU9949
 
 

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