REG - Kitwave Group PLC - Director/PDMR Shareholdings

KitwaveAnnouncement

09/04/2025 07:00

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RNS Number : 2135E  Kitwave Group PLC  09 April 2025

 

9 April 2025

 

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 (together the "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  158,000
 David Brind    Chief Financial Officer  120,000

 

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                             32,000

 John Hope          Group Operations Director                       32,000

 Christopher Young  Divisional Operations Director                  32,000

 Lucie Milburn      Divisional Operations Director                  32,000

 Alan McCartney     IT Director                                     32,000

 Mark Earl          Group Financial Controller                      32,000

 Allan Walker       Automatic Retailing Northern Managing Director  25,000

 Miles Roberts      Creed Managing Director                         25,000
 Jay Mackay         HB Clark Managing Director                      25,000

 James Russell      WestCountry Managing Director                   25,000

 

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 2024 Annual Report and Accounts.

 

Further details on the LTIP are disclosed in the Remuneration Committee Report
of the Company's 2024 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                                                                   158,000
 d)  Aggregated volume:                        n/a single transaction

     Price:
 e)  Date of the Transaction:                  8 April 2025
 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                                                                   120,000
 d)  Aggregated volume:                        n/a single transaction

     Price:
 e)  Date of the Transaction:                  8 April 2025
 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                                                                   32,000
 d)  Aggregated volume:                        n/a single transaction

     Price:
 e)  Date of the Transaction:                  8 April 2025
 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                                                                   32,000
 d)  Aggregated volume:                        n/a single transaction

     Price:
 e)  Date of the Transaction:                  8 April 2025
 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                                                                   32,000
 d)  Aggregated volume:                        n/a single transaction

     Price:
 e)  Date of the Transaction:                  8 April 2025
 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                                                                   32,000
 d)  Aggregated volume:                        n/a single transaction

     Price:
 e)  Date of the Transaction:                  8 April 2025
 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                                                                   32,000
 d)  Aggregated volume:                        n/a single transaction

     Price:
 e)  Date of the Transaction:                  8 April 2025
 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                                                                   32,000
 d)  Aggregated volume:                        n/a single transaction

     Price:
 e)  Date of the Transaction:                  8 April 2025
 f)  Place of the Transaction:                 Off Market

 

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                     Allan Walker
 2   Reason for the notification
 a)  Position/Status:                          Automatic Retailing Northern Managing 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                                                                   25,000
 d)  Aggregated volume:                        n/a single transaction

     Price:
 e)  Date of the Transaction:                  8 April 2025
 f)  Place of the Transaction:                 Off Market

 

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                     Miles Roberts
 2   Reason for the notification
 a)  Position/Status:                          Creed Managing 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                                                                   25,000
 d)  Aggregated volume:                        n/a single transaction

     Price:
 e)  Date of the Transaction:                  8 April 2025
 f)  Place of the Transaction:                 Off Market

 

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                     Jay Mackay
 2   Reason for the notification
 a)  Position/Status:                          HB Clark Managing 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                                                                   25,000
 d)  Aggregated volume:                        n/a single transaction

     Price:
 e)  Date of the Transaction:                  8 April 2025
 f)  Place of the Transaction:                 Off Market

 

 

 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a)  Name:                                     James Russell
 2   Reason for the notification
 a)  Position/Status:                          WestCountry Managing 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                                                                   25,000
 d)  Aggregated volume:                        n/a single transaction

     Price:
 e)  Date of the Transaction:                  8 April 2025
 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

 Elizabeth Halley-Stott
 Yellow Jersey PR                                                 Tel: +44 (0) 20 3004 9512

(Financial media and PR)

 Charles Goodwin

 Shivantha Thambirajah

 Bessie Elliot

 kitwave@yellowjerseypr.com (mailto:kitwave@yellowjerseypr.com)

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 46,000, mainly independent, customers.

 

With a network of 37 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 (AIM: KITW) was admitted to trading on AIM of the London
Stock Exchange on 24 May 2021.

 

For further information, please visit: www.kitwave.co.uk
(http://www.kitwave.co.uk) .

 

 

 

 

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