REG - Portmeirion Group - Executive Share Option Grants
RNS Number : 8327LPortmeirion Group PLC04 May 20204 May 2020
Portmeirion Group PLC
(the "Company")
Executive Share Option Grants
The Company announces that, on 4 May 2020, it granted options to Directors and senior managers over a total of 200,500 ordinary shares of 5 pence each in the Company ("Ordinary Shares") pursuant to The Portmeirion 2012 Approved Share Option Plan and The Portmeirion 2012 Unapproved Share Option Plan (the "2012 Plans").
The options are subject to the achievement of performance criteria as determined by the Remuneration Committee, and as required under the 2012 Plans. The options granted on 4 May 2020 are normally only exercisable if the increase in the average of the Group's basic adjusted earnings per share (as adjusted for changes in accounting standards and exceptional items) for each of the two years ending 31 December 2021 and 31 December 2022 is at least 10% higher than that for the year ended 31 December 2019. The exercise price of the options is in reference to the closing middle market price of an Ordinary Share on 1 May 2020, being the latest date prior to the grant. Of the total number of options granted, 160,500 options over Ordinary Shares were granted to persons discharging managerial responsibilities ("PDMRs") of the Company, as detailed below:
Number options granted
Exercise price per Ordinary Share
Exercise period
Company directors/officers:
Philip Atherton
Group Sales & Marketing Director
21,000
£4.46
5 May 2023 - 3 May 2030
Michael Raybould
Chief Executive
40,000
£4.46
5 May 2023 - 3 May 2030
Michael Knapper
Operations Director
21,000
£4.46
5 May 2023 - 3 May 2030
David Sproston
Group Finance Director
29,000
£4.46
5 May 2023 - 3 May 2030
Moira MacDonald
Group Company Secretary
7,500
£4.46
5 May 2023 - 3 May 2030
Subsidiary company directors:
Robert Findler
Production Director (Portmeirion UK)
6,000
£4.46
5 May 2023 - 3 May 2030
Samantha Pearce
HR Director (Portmeirion UK)
6,000
£4.46
5 May 2023 - 3 May 2030
Jacqui Gale
Managing Director (Wax Lyrical)
10,000
£4.46
5 May 2023 - 3 May 2030
William Robedee
President (Portmeirion USA)
15,000
£4.46
5 May 2023 - 3 May 2030
Allison Bertorelli
Chief Financial Officer (Portmeirion USA)
5,000
£4.46
5 May 2023 - 3 May 2030
Total:
160,500
£4.46
5 May 2023 - 3 May 2030
The total number of Ordinary Shares over which each PDMR holds options following this notification is:
Total number of options
over Ordinary Shares
Philip Atherton
16,499
Michael Raybould
-
Michael Knapper
2,511
David Sproston
-
Moira MacDonald
2,693
Robert Findler
-
Samantha Pearce
100
Jacqui Gale
-
William Robedee
-
Allison Bertorelli
-
Dick Steele, Chairman commented:
With the challenges that Covid-19 has brought to businesses worldwide, it is as important as ever that we incentivise and retain our key directors and senior managers to drive our business through this period of uncertainty. Performance-related share options are a powerful tool to do just that whilst aligning their interests with those of shareholders.
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
Michael Raybould
Chief Executive
Michael Knapper
Operations Director
David Sproston
Group Finance Director
Moira MacDonald
Group Company Secretary
Subsidiary company directors:
Robert Findler
Production Director (Portmeirion UK)
Samantha Pearce
HR Director (Portmeirion UK)
Jacqui Gale
Managing Director (Wax Lyrical)
William Robedee
President (Portmeirion USA)
Allison Bertorelli
Chief Financial Officer (Portmeirion USA)
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
Grant of options over Ordinary Shares
d)
Price(s) and volume(s)
Price at grant: Nil
Exercise Price: 446 pence per Ordinary Share
Volume(s)
Options over Ordinary Shares
Philip Atherton
21,000
Michael Raybould
40,000
Michael Knapper
21,000
David Sproston
29,000
Moira MacDonald
7,500
Robert Findler
6,000
Samantha Pearce
6,000
Jacqui Gale
10,000
William Robedee
15,000
Allison Bertorelli
5,000
e)
Aggregated information
- Aggregated volume
- Price
Nil, grant of options only
f)
Date of the transactions
4 May 2020
f)
Place of the transactions
Off-market
Name of authorised official of issuer responsible for making notification:
Moira MacDonald
Company Secretary to Portmeirion Group PLC
ENQUIRIES:
Portmeirion Group PLC:
Mike Raybould
Chief Executive Officer
+44 (0) 1782 743 444
David Sproston
Group Finance Director
+44 (0) 1782 743 444
dsproston@portmeiriongroup.com
Hudson Sandler:
Dan de Belder
Nick Moore
+44 (0) 207 796 4133
nmoore@hudsonsandler.com
Panmure Gordon:
(Nominated Adviser and Broker)
+44 (0) 207 886 2500
Freddy Crossley / Joanna Langley
Corporate Finance
James Stearns
Corporate Broking
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