REG - Kitwave Group PLC - Director/PDMR Shareholdings
03/04/2024 12:15
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RNS Number : 1807J Kitwave Group PLC 03 April 2024
3 April 2024
Kitwave Group plc
("Kitwave", the "Group" or the "Company")
Director/PDMR Shareholdings
Kitwave Group plc (AIM: KITW), the delivered wholesale business, today
announces the granting of awards under the Company's Long Term Incentive Plan
("LTIP") to a number of persons discharging management responsibilities
("PDMRs").
Under the LTIP, selected participants are offered the opportunity to acquire a
defined number of £0.01 ordinary shares in the Company at nil cost subject to
certain performance conditions being achieved in a defined time period. The
awards will either be in the form of a nil cost option or a conditional share
award ("Awards"). No consideration will be paid for the grant of the Awards.
In respect of the nil cost options, they will vest and will be capable of
exercise (subject to achievement of the applicable performance targets)
approximately 5 years from the date of grant (being the aggregate of a 3 year
performance period and a 2 year deferment period).
The following PDMRs were granted nil cost options:
Director/PDMR Position Number of Awards Awarded
Ben Maxted Chief Executive Officer 116,000
David Brind Chief Financial Officer 86,000
In respect of the conditional share awards, they will be released (subject to
achievement of the applicable performance targets) approximately 3 years from
the date of grant.
The following PDMRs were granted conditional share awards:
Director/PDMR Position Number of Awards Awarded
Michael Young Commercial Director 24,000
John Hope Group Operations Director 24,000
Christopher Young Divisional Operations Director 24,000
Lucie Milburn Divisional Operations Director 24,000
Alan McCartney IT Director 20,000
Mark Earl Group Financial Controller 20,000
It is intended that the Awards will be satisfied by the issue of new shares.
The Awards were granted in accordance with the Remuneration Committee Report
as set out in the Company's 2023 Annual Report and Accounts.
Further details on the LTIP are disclosed in the Remuneration Committee Report
of the Company's 2023 Annual Report and Accounts, which can be found on the
Company's website at
https://www.kitwave.co.uk/investors/reports-presentations/
(https://www.kitwave.co.uk/investors/reports-presentations/)
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name: Ben Maxted
2 Reason for the notification
a) Position/Status: Chief Executive Officer
b) Initial Notification/Amendment: Initial Notification
3 Details of the issuer, emission allowance market participation, auction
platform, auctioneer or auction monitor
a) Name: Kitwave Group plc
b) LEI: 2138007DLCYPVY95UD40
4. Details of 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: Ordinary Shares of 1 pence each
Identification code: ISIN: GB00BNYKB709
b) Nature of the transaction: Grant of nil cost options
c) Price(s) and volume(s): Price(s) Volume(s)
nil 116,000
d) Aggregated volume: n/a single transaction
Price:
e) Date of the Transaction: 3 April 2024
f) Place of the Transaction: Off Market
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name: David Brind
2 Reason for the notification
a) Position/Status: Chief Financial Officer
b) Initial Notification/Amendment: Initial Notification
3 Details of the issuer, emission allowance market participation, auction
platform, auctioneer or auction monitor
a) Name: Kitwave Group plc
b) LEI: 2138007DLCYPVY95UD40
4. Details of 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: Ordinary Shares of 1 pence each
Identification code: ISIN: GB00BNYKB709
b) Nature of the transaction: Grant of nil cost options
c) Price(s) and volume(s): Price(s) Volume(s)
nil 86,000
d) Aggregated volume: n/a single transaction
Price:
e) Date of the Transaction: 3 April 2024
f) Place of the Transaction: Off Market
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name: Michael Young
2 Reason for the notification
a) Position/Status: Commercial Director
b) Initial Notification/Amendment: Initial Notification
3 Details of the issuer, emission allowance market participation, auction
platform, auctioneer or auction monitor
a) Name: Kitwave Group plc
b) LEI: 2138007DLCYPVY95UD40
4. Details of 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: Ordinary Shares of 1 pence each
Identification code: ISIN: GB00BNYKB709
b) Nature of the transaction: Grant of conditional share award
c) Price(s) and volume(s): Price(s) Volume(s)
nil 24,000
d) Aggregated volume: n/a single transaction
Price:
e) Date of the Transaction: 3 April 2024
f) Place of the Transaction: Off Market
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name: John Hope
2 Reason for the notification
a) Position/Status: Group Operations Director
b) Initial Notification/Amendment: Initial Notification
3 Details of the issuer, emission allowance market participation, auction
platform, auctioneer or auction monitor
a) Name: Kitwave Group plc
b) LEI: 2138007DLCYPVY95UD40
4. Details of 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: Ordinary Shares of 1 pence each
Identification code: ISIN: GB00BNYKB709
b) Nature of the transaction: Grant of conditional share award
c) Price(s) and volume(s): Price(s) Volume(s)
nil 24,000
d) Aggregated volume: n/a single transaction
Price:
e) Date of the Transaction: 3 April 2024
f) Place of the Transaction: Off Market
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name: Christopher Young
2 Reason for the notification
a) Position/Status: Divisional Operations Director
b) Initial Notification/Amendment: Initial Notification
3 Details of the issuer, emission allowance market participation, auction
platform, auctioneer or auction monitor
a) Name: Kitwave Group plc
b) LEI: 2138007DLCYPVY95UD40
4. Details of 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: Ordinary Shares of 1 pence each
Identification code: ISIN: GB00BNYKB709
b) Nature of the transaction: Grant of conditional share award
c) Price(s) and volume(s): Price(s) Volume(s)
nil 24,000
d) Aggregated volume: n/a single transaction
Price:
e) Date of the Transaction: 3 April 2024
f) Place of the Transaction: Off Market
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name: Lucie Milburn
2 Reason for the notification
a) Position/Status: Divisional Operations Director
b) Initial Notification/Amendment: Initial Notification
3 Details of the issuer, emission allowance market participation, auction
platform, auctioneer or auction monitor
a) Name: Kitwave Group plc
b) LEI: 2138007DLCYPVY95UD40
4. Details of 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: Ordinary Shares of 1 pence each
Identification code: ISIN: GB00BNYKB709
b) Nature of the transaction: Grant of conditional share award
c) Price(s) and volume(s): Price(s) Volume(s)
nil 24,000
d) Aggregated volume: n/a single transaction
Price:
e) Date of the Transaction: 3 April 2024
f) Place of the Transaction: Off Market
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name: Mark Earl
2 Reason for the notification
a) Position/Status: Group Financial Controller
b) Initial Notification/Amendment: Initial Notification
3 Details of the issuer, emission allowance market participation, auction
platform, auctioneer or auction monitor
a) Name: Kitwave Group plc
b) LEI: 2138007DLCYPVY95UD40
4. Details of 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: Ordinary Shares of 1 pence each
Identification code: ISIN: GB00BNYKB709
b) Nature of the transaction: Grant of conditional share award
c) Price(s) and volume(s): Price(s) Volume(s)
nil 20,000
d) Aggregated volume: n/a single transaction
Price:
e) Date of the Transaction: 3 April 2024
f) Place of the Transaction: Off Market
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name: Alan McCartney
2 Reason for the notification
a) Position/Status: IT Director
b) Initial Notification/Amendment: Initial Notification
3 Details of the issuer, emission allowance market participation, auction
platform, auctioneer or auction monitor
a) Name: Kitwave Group plc
b) LEI: 2138007DLCYPVY95UD40
4. Details of 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: Ordinary Shares of 1 pence each
Identification code: ISIN: GB00BNYKB709
b) Nature of the transaction: Grant of conditional share award
c) Price(s) and volume(s): Price(s) Volume(s)
nil 20,000
d) Aggregated volume: n/a single transaction
Price:
e) Date of the Transaction: 3 April 2024
f) Place of the Transaction: Off Market
- Ends-
For further information please contact:
Kitwave Group plc Tel: +44 (0) 191 259 2277
Ben Maxted, Chief Executive Officer
David Brind, Chief Financial Officer
www.kitwave.co.uk (http://www.kitwave.co.uk/)
Canaccord Genuity Limited Tel: +44 (0) 20 7523 8150
(Nominated Adviser and Sole Broker)
Bobbie Hilliam
Alex Orr
Yellow Jersey PR Tel: +44 (0) 20 3004 9512
(Financial media and PR)
Sarah Hollins
Shivantha Thambirajah
Bessie Elliot
Company Overview
Founded in 1987, following the acquisition of a single-site confectionery
wholesale business based in North Shields, United Kingdom, Kitwave is a
delivered wholesale business, specialising in selling and delivering impulse
products, frozen, chilled and fresh foods, alcohol, groceries and tobacco to
approximately 42,000, mainly independent, customers.
With a network of 32 depots, Kitwave is able to support delivery throughout
the UK to a diverse customer base, which includes independent convenience
retailers, leisure outlets, vending machine operators, foodservice providers
and other wholesalers, as well as leading national retailers.
The Group's growth to date has been achieved both organically and through a
strategy of acquiring smaller, predominantly family-owned, complementary
businesses in the fragmented UK grocery and foodservice wholesale market.
Kitwave Group plc was admitted to trading on AIM of the London Stock Exchange
in May 2021.
For further information, please visit www.kitwave.co.uk
(http://www.kitwave.co.uk) .
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