REG - Bakkavor Group PLC - Director/PDMR Shareholding
12/04/2024 07:00
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RNS Number : 3520K Bakkavor Group PLC 12 April 2024
Bakkavor Group plc
Transaction by PDMRS
12 April 2024
Bakkavor Group plc
(the 'Company' or 'Bakkavor')
Notification and public disclosure of transaction by PDMR
Bakkavor Group plc (LON: BAKK) announces that on 11 April 2024 ordinary shares
of 2 pence each in the Company ('Shares') were acquired by the following
persons discharging managerial responsibilities ('PDMR') in connection with
the exercise of vested awards ('Awards') held under the Company's long term
incentive plans.
The Awards were settled partly in Shares and partly in cash. The cash element
solely to meet the income tax and employees' national insurance liability
associated with the exercise ('Tax Liability'). Save where otherwise stated
below, the Awards were nil cost options.
Summary details as follows:
PDMR Award Number of Shares under the Award(s) Number of Shares withheld and cash settled at £1.135 per Share to meet Tax Number of Shares acquired on exercise of Award(s)
Liability
Mike Edwards 2017, 2018, 2019 and 2020 LTIP Awards 2,048,524 962,807 1,085,717
Ben Waldron 2020 LTIP Award 376,471 176,942 199,529
Ben Waldron 2017 LTIP Award with an exercise price of 76.4p per Share 134,162 before gain settlement 20,610 23,243
Donna-Maria Lee 2018, 2019 and 2020 LTIP Awards 260,045 122,222 137,823
Shona Taylor 2020 LTIP Award 208,361 97,930 110,431
Shona Taylor 2017 LTIP Award with an exercise price of 76.4p per Shares 88,350 before gain settlement 13,572 15,306
Lee Miley 2020 LTIP Award 183,974 86,468 97,506
The information set out below is provided in accordance with the requirements
of Article 19(3) of the UK Market Abuse Regulation.
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Mike Edwards
2 Reason for Notification
a) Position/status CEO
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 Ordinary shares of 2 pence each in Bakkavor Group plc
Identification code GB00BF8J3Z99
b) Nature of the transaction 1. Shares acquired for nil consideration on the exercise of vested nil cost
options held under the Company's LTIP and relating to the Share settled
portions of such exercises.
2. Number of reference Shares cash settled (at £1.135 per Share) on the
exercise of nil cost options held under the Company's LTIPs and relating to
the cash settled portions of such exercises (to cover Tax Liability).
c) Price(s) and volume(s) Price(s) Volume(s)
1. Nil 1. 1,085,717
2. Nil 2. 962,807*
*£1.135 per Share cash settled.
d) Aggregated information
- Aggregated volume Not applicable - single transaction
- Price
e) Date of the transaction 11 April 2024
f) Place of the transaction Outside of a trading venue
*£1.135 per Share cash settled.
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
11 April 2024
f)
Place of the transaction
Outside of 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 CFO & Asia CEO
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 Ordinary shares of 2 pence each in Bakkavor Group plc
Identification code GB00BF8J3Z99
b) Nature of the transaction 1. Shares acquired for nil consideration on the exercise of a vested nil cost
option held under the Company's LTIP and relating to the Share settled portion
of such exercise.
2. Number of reference Shares cash settled (at £1.135 per Share) on the
exercise of a nil cost option held under the Company's LTIP and relating to
the cash settled portion of such exercise (to cover Tax Liability).
3. Shares acquired on the exercise of a vested option held under the Company's
pre-IPO LTIP and relating to the Share settled portion of such exercise. The
option was gain settled by reference to a released option price of 76.4p per
share.
4. Number of reference Shares cash settled (at £1.135 per Share) on the
exercise of a vested option held under the Company's pre-IPO LTIP and relating
to the cash settled portion of such exercise (to cover Tax Liability). The
option was gain settled by reference to a released option price of 76.4p per
share.
c) Price(s) and volume(s) Price(s) Volume(s)
1. Nil 1. 199,529
2. Nil 2. 176,942*
3. Nil 3. 23,243
4. Nil 4. 20,610*
*£1.135 per Share cash settled.
d) Aggregated information
- Aggregated volume Not applicable - single transaction
- Price
e) Date of the transaction 11 April 2024
f) Place of the transaction Outside of a trading venue
*£1.135 per Share cash settled.
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
11 April 2024
f)
Place of the transaction
Outside of 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 CPO
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 Ordinary shares of 2 pence each in Bakkavor Group plc
Identification code GB00BF8J3Z99
b) Nature of the transaction 1. Shares acquired for nil consideration on the exercise of vested nil cost
options held under the Company's LTIP and relating to the Share settled
portions of such exercises.
2. Number of reference Shares cash settled (at £1.135 per Share) on the
exercise of nil cost options held under the Company's LTIPs and relating to
the cash settled portions of such exercises (to cover Tax Liability).
c) Price(s) and volume(s) Price(s) Volume(s)
1. Nil 1. 137,823
2. Nil 2. 122,222*
*£1.135 per Share cash settled.
d) Aggregated information
- Aggregated volume Not applicable - single transaction
- Price
e) Date of the transaction 11 April 2024
f) Place of the transaction Outside of a trading venue
*£1.135 per Share cash settled.
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
11 April 2024
f)
Place of the transaction
Outside of a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Shona Taylor
2 Reason for Notification
a) Position/status Managing 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 Ordinary shares of 2 pence each in Bakkavor Group plc
Identification code GB00BF8J3Z99
b) Nature of the transaction 1. Shares acquired for nil consideration on the exercise of a vested nil cost
option held under the Company's LTIP and relating to the Share settled
portions of such exercise.
2. Number of reference Shares cash settled (at £1.135 per Share) on the
exercise of a nil cost option held under the Company's LTIP and relating to
the cash settled portion of such exercise (to cover Tax Liability).
3. Shares acquired on the exercise of a vested option held under the Company's
pre-IPO LTIP and relating to the Share settled portion of such exercise. The
option was gain settled by reference to a released option price of 76.4p per
share.
4. Number of reference Shares cash settled (at £1.135 per Share) on the
exercise of a vested option held under the Company's pre-IPO LTIP and relating
to the cash settled portion of such exercise (to cover Tax Liability). The
option was gain settled by reference to a released option price of 76.4p per
share.
c) Price(s) and volume(s) Price(s) Volume(s)
1. Nil 1. 110,431
2. Nil 2. 97,930*
3. Nil 3. 15,306
4. Nil 4. 13,572*
*£1.135 per Share cash settled.
d) Aggregated information
- Aggregated volume Not applicable - single transaction
- Price
e) Date of the transaction 11 April 2024
f) Place of the transaction Outside of a trading venue
*£1.135 per Share cash settled.
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
11 April 2024
f)
Place of the transaction
Outside of a trading venue
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Lee Miley
2 Reason for Notification
a) Position/status UK Finance 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 Ordinary shares of 2 pence each in Bakkavor Group plc
Identification code GB00BF8J3Z99
b) Nature of the transaction 1. Shares acquired for nil consideration on the exercise of a vested nil cost
option held under the Company's LTIP and relating to the Share settled portion
of such exercise.
2. Number of reference Shares cash settled (at £1.135 per Share) on the
exercise of a nil cost option held under the Company's LTIPs and relating to
the cash settled portion of such exercise (to cover Tax Liability).
c) Price(s) and volume(s) Price(s) Volume(s)
1. Nil 1. 97,506
2. Nil 2. 86,468
*£1.135 per Share cash settled.
d) Aggregated information
- Aggregated volume Not applicable - single transaction
- Price
e) Date of the transaction 11 April 2024
f) Place of the transaction Outside of a trading venue
*£1.135 per Share cash settled.
d)
Aggregated information
- Aggregated volume
- Price
Not applicable - single transaction
e)
Date of the transaction
11 April 2024
f)
Place of the transaction
Outside of a trading venue
ENQUIRIES
Institutional investors and analysts:
Ben Waldron, Chief Financial Officer
Richard Wooldridge, Interim Head of Investor Relations
+44 (0) 20 7908 6114
Annabel Tagoe-Bannerman, Group General Counsel & Company
Secretary
+44 (0) 20 7908 6130
Financial media:
bakkavor@mhpgroup.com
(mailto:bakkavor@mhpgroup.com)
Katie Hunt, MHP
+44 (0) 20 3128 8100
+44 (0) 7884 494
112
Rachel Farrington,
MHP
+44 (0) 7801 894
577
Oliver Hughes, MHP
+44
(0) 7885 224 532
About Bakkavor
We are the leading provider of fresh prepared food 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. Around 18,000 colleagues operate
from 44 sites across our three markets, supplying a portfolio of over 3,000
products across meals, pizza & bread, salads and desserts to leading
grocery retailers in the UK and US, and international food brands in China.
Find out more at www.bakkavor.com (http://www.bakkavor.com) .
LEI number: 213800COL7AD54YU9949
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