REG - Portmeirion Group - Exercise of Options and PDMR Shareholdings

PortmeirionAnnouncement

09/08/2019 07:06

RNS Number : 4710I
Portmeirion Group PLC
09 August 2019
 


9 August 2019
 
 
 
Portmeirion Group PLC
(the "Company")
 
Exercise of Options and PDMR Shareholdings
 
The Portmeirion 2012 Approved Share Option Plan and The Portmeirion 2012 Unapproved Share Option Plan (the "Option Plans") and The Portmeirion Group 2018 Deferred Incentive Share Option Plan (the "Deferred Plan")
 
As part of its long term employee remuneration and retention incentives, the Company announces that, on 8 August 2019, the following transactions occurred for the persons discharging managerial responsibilities ("PDMRs") as shown below:
 











Option Plans number options granted (A)


Deferred Plan number options granted (B)


Exercise  Price over Deferred Plan options


Deferred Plan existing options exercised (C)




Company directors/officers:




















Philip Atherton


Group Sales & Marketing Director


-


4,173


£1.00


                    1,365




Lawrence Bryan


Chief Executive


-


10,007


£1.00


         2,860




Michael Knapper


Operations Director


-


2,615


£1.00


-




Moira MacDonald


Company Secretary


4,600


-


-


-




Michael Raybould


Group Finance Director


-


4,358


£1.00


-


























Subsidiary Company directors:




















Robert Findler


Production Director (Portmeirion UK)


7,500


-


-


-




Jacqui Gale


Managing Director (Wax Lyrical)


10,000


-


-


-




Samantha Pearce


HR Director (Portmeirion UK)


4,600


-


-


-




David Sproston


Finance Director (Portmeirion UK)


4,600


-


-


-








Total:


31,300


21,153






4,225



Note:
(A)     Grant of options under Option Plans. 
(B)      Grant of new options under Deferred Plan against 2018 performance and incentive arrangements (further detail below).
(C)     Exercise of existing options under the Deferred Plan.
The Company granted 31,300 options over Ordinary Shares to the PDMRs shown above and a further 46,000 options over Ordinary Shares to other senior managers pursuant to the Option Plans, including the amounts shown above. 
In addition, the Company granted 21,153 options to Executive Directors shown above over Ordinary Shares pursuant to the Deferred Plan.  In accordance with the rules of the Deferred Plan, the number of options granted is based on the gross incentive payment earned by the relevant Director in respect of the year ended 31 December 2018.
As a result of the exercise of Deferred Plan options detailed above, the Company transferred 4,225 Ordinary Shares from those held in treasury by the Company. Consequently, the Company has made an application to the London Stock Exchange for 4,225 new Ordinary Shares to be admitted to trading on AIM and trading of these Ordinary Shares is expected to commence on or around 14 August 2019 ("Admission").
 
Following Admission, the total number of Ordinary Shares held by the Company in treasury is 230,382 and the Company will have 11,107,483 Ordinary Shares in issue and 10,877,101 Ordinary Shares with voting rights. The figure of 10,877,101 Ordinary Shares may be used by shareholders of the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
 
 
 
 
PDMR Shareholdings
 
The total number of Ordinary Shares over which each PDMR holds options and the total number of Ordinary Shares with voting rights held following this Admission is:
 







Total number of options
over Ordinary Shares


Total number
 of Ordinary Shares with
voting rights


Ordinary Shares percentage of Company's Ordinary Shares with voting rights
 




Philip Atherton


56,965


16,499


0.15%




Lawrence Bryan


96,947


98,561


0.91%




Michael Knapper


49,365


2,511


0.02%




Moira MacDonald


19,600


2,693


0.02%




Michael Raybould


67,275


-


-




Robert Findler


10,500


-


-




Jacqui Gale


10,000


-


-




Samantha Pearce


19,600


100


0.00%




David Sproston


17,100


-


-










 
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).
 
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
_____________________________________________
 
Notification and public disclosure of transactions by persons discharging managerial responsibilities / person closely associated with them.
 



1.


Details of the person discharging managerial responsibilities/person closely associated




a)


Name
 





Company directors/officers:




Philip Atherton


Group Sales &
Marketing Director




Lawrence Bryan


Chief Executive




Michael Knapper


Operations Director




Moira MacDonald


Group Company Secretary




Michael Raybould


Group Finance Director














Subsidiary Company directors:




Jacqui Gale


Managing Director (Wax Lyrical)




Robert Findler


Production Director (Portmeirion UK)




Samantha Pearce


HR Director (Portmeirion UK)




David Sproston


Finance Director (Portmeirion UK)








2.


Reason for the notification




a)


Position/status


See 1(a) above for all positions - all classified as PDMRs of the Company




b)


Initial notification/Amendment


Initial Notification




3.


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor




a)


Name


Portmeirion Group PLC




b)


LEI


2138003QC9J6TLZJHO70




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


Ordinary Shares of 5 pence each




b)


Identification code


GB0006957293




c)


Nature of the transactions


(A)   Performance related, Grant of options under Option Plans. Exercise period 9 August 2022 - 7 August 2029.
(B)   Grant of new options under The Portmeirion Group 2018 Deferred Incentive Share Option Plan (the "Deferred Plan").
(C)   Exercise of Existing options under the Deferred Plan.




d)


Price(s) and volume(s)
 


In respect of (A) Grant of options under Option Plans
Price at grant: Nil
 
Exercise Price:  £9.80 pence per Ordinary Share
 
Volume(s)
 







Options over Ordinary Shares




Moira MacDonald


4,600




Robert Findler


7,500




Jacqui Gale


10,000




Samantha Pearce


4,600




David Sproston


4,600



In respect of (B) Grant of options under Deferred Plan
Price at grant: Nil
Exercise Price (per PDMR in respect of all options granted): £1







Options over Ordinary Shares




Philip Atherton


4,173




Lawrence Bryan


10,007




Michael Knapper


2,615




Michael Raybould


4,358



In respect of (C) Exercise of options under the Deferred Plan
Exercise Price (per PDMR in respect of all options exercised): £1







Options over Ordinary Shares




Philip Atherton


1,365




Lawrence Bryan


2,860








e)


Aggregated information
-     Aggregated volume
-     Price


In respect of (A) Grant of options under Option Plans
Nil, grant of options only
In respect of (B) Grant of options under Deferred Plan
Nil, grant of options only
In respect of (C) Exercise of options under the Deferred Plan
£1.00
£1.00
 




f)


Date of the transactions


 
In respect of (A) Grant of options under Option Plans - 8 August 2019
 
In respect of (B) Grant of options under Deferred Plan 8 August 2019
 
In respect of (C) Exercise of options under the Deferred Plan - 8 August 2019
 




g)


Place of the transactions


In respect of (A) Grant of options under Option Plans - - Off-market
In respect of (B) Grant of options under Deferred Plan - Off-market
In respect of (C) Exercise of options under the Deferred Plan - Off-market
 



 
Name of authorised official of issuer responsible for making notification:
 
Moira MacDonald
Company Secretary to Portmeirion Group PLC
 
ENQUIRIES:
 



Portmeirion Group PLC:
 




Dick Steele,
Non-executive Chairman  


+44 (0) 1782 744721


steele_clan@msn.com




Mike Raybould,
Group Finance Director  


+44 (0) 1782 744721


mraybould@portmeiriongroup.com


















Hudson Sandler:




Dan de Belder
Nick Moore
Oenone Potter


+44 (0) 207 796 4133


ddebelder@hudsonsandler.com
nmoore@hudsonsandler.com
opotter@hudsonsandler.com


















Panmure Gordon:




(Nominated Adviser and Broker)                


+44 (0) 207 886 2500








Freddy Crossley / Joanna Langley






Corporate Finance




James Stearns






Corporate Broking
 




Cantor Fitzgerald Europe:




(Joint Broker)                                           


+44 (0) 207 894 7000








Phil Davies / Rick Thompson






Corporate Finance




Casper Shand Kydd






Sales
 



 




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