REG - Bakkavor Group PLC - Director/PDMR Shareholding

BakkavorAnnouncement

14/10/2020 17:00

RNS Number : 1189C
  
Bakkavor Group PLC
  
14 October 2020
  
 


 
14 October 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 14 October 2020 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 Award


Type of Award




Michael Edwards


460,121


Performance Share Award




Michael Edwards


230,060


Restricted Share Award




Donna-Maria Lee


233,687


Performance Share Award




Donna-Maria Lee


116,843


Restricted Share Award




Ben Waldron


208,333


Performance Share Award




Ben Waldron


104,166


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 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.
 
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


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 fifth anniversary of the date of grant. The Performance Share Award will only vest to the extent to which the total shareholder return performance condition is met. No performance conditions apply to the Restricted Share Award. 




c)


Price(s) and volume(s)






Price(s)


Volume(s)




Nil
 
Nil


460,121 Performance Share Award
 
230,060 Restricted Share Award




 




d)


Aggregated information
-     Aggregated volume
-     Price


 
690,181
Nil




e)


Date of the transaction


14 October 2020




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 fifth anniversary of the date of grant. The Performance Share Award will only vest to the extent to which the total shareholder return performance condition is met. No performance conditions apply to the Restricted Share Award. 




c)


Price(s) and volume(s)






Price(s)


Volume(s)




Nil
 
 
Nil


233,687 Performance Share Award
 
116,843 Restricted Share Award




 




d)


Aggregated information
 
-     Aggregated volume
-     Price


 
350,530
Nil
 




e)


Date of the transaction


14 October 2020




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 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 the total shareholder return performance condition is met. No performance conditions apply to the Restricted Share Award.




c)


Price(s) and volume(s)






Price(s)


Volume(s)




Nil
 
 
Nil


208,333 Performance Share Award
 
104,166 Restricted Share Award




 




d)


Aggregated information
-     Aggregated volume
-     Price


 
 
 
312,499
Nil




e)


Date of the transaction


14 October 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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