REG - Portmeirion Group - Grant of Options
26/04/2022 14:00
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RNS Number : 4061J Portmeirion Group PLC 26 April 2022
26 April 2022
Portmeirion Group PLC
(the "Company")
Grant of Options
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 25 April 2022, the following transactions occurred
for the persons discharging managerial responsibilities ("PDMRs") as shown
below:
Option Plans number of options granted at an exercise price of 570 pence per Deferred Plan number of options granted at an exercise price of £1.00 (B)
Ordinary Share (A)
Company directors/officers:
Michael Raybould Chief Executive 40,000 10,813
Jacqui Gale Chief Commercial Officer 25,000 5,706
Michael Knapper Group Operations Director 25,000 5,506
William Robedee President of North America 25,000 7,051
David Sproston Group Finance Director 25,000 4,279
Moira MacDonald Group Company Secretary 11,000 -
Total: 151,000 33,355
Note:
(A) Grant of options under Option Plans.
(B) Grant of new options under Deferred Plan against 2021 performance
and incentive arrangements (further detail below).
The Company granted 151,000 options over Ordinary Shares to the PDMRs shown
above and a further 144,500 options over Ordinary Shares to other senior
managers pursuant to the Option Plans. The options are subject to the
achievement of performance targets as determined by the Remuneration
Committee, and as required under the Option Plans. The options granted on 25
April 2022 are normally only exercisable if the increase in the average of the
Group's basic adjusted (for changes in accounting standards and exceptional
items) earnings per share for each of the three years ending 31 December 2022,
31 December 2023 and 31 December 2024 is at least 20% higher than that for the
year ended 31st December 2021. The calculation of basic adjusted earnings per
share shall take account of the number of shares and effective tax rates at
the date of grant.
In addition, the Company granted 33,355 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 2021.
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 Total number Ordinary Shares percentage of Company's Ordinary Shares with voting rights
over Ordinary Shares of Ordinary Shares with
voting rights
Michael Raybould 145,171 5,548 0.04%
Jacqui Gale 70,706 - -
Michael Knapper 84,121 5,576 0.04%
William Robedee 77,051 - -
David Sproston 88,279 1,315 0.01%
Moira MacDonald 31,000 2,693 0.02%
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:
Michael Raybould Chief Executive
Jacqui Gale Chief Commercial Officer
Michael Knapper Group Operations Director
William Robedee President of North America
David Sproston Group Finance Director
Moira MacDonald Group Company Secretary
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 26 April 2025 - 24 April 2032.
(B) Grant of new options under The Portmeirion Group 2018 Deferred
Incentive Share Option Plan (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: £5.70 pence per Ordinary Share
Volume(s)
Options over Ordinary Shares
Michael Raybould 40,000
Jacqui Gale 25,000
Michael Knapper 25,000
William Robedee 25,000
David Sproston 25,000
Moira MacDonald 11,000
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
Michael Raybould 10,813
Jacqui Gale 5,706
Michael Knapper 5,506
William Robedee 7,051
David Sproston 4,279
e) Aggregated information In respect of (A) Grant of options under Option Plans
- Aggregated volume Nil, grant of options only
- Price In respect of (B) Grant of options under Deferred Plan
Nil, grant of options only
f) Date of the transactions
In respect of (A) Grant of options under Option Plans - 25 April 2022
In respect of (B) Grant of options under Deferred Plan 25 April 2022
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
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 26 April 2025 - 24 April 2032.
(B) Grant of new options under The Portmeirion Group 2018 Deferred
Incentive Share Option Plan (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: £5.70 pence per Ordinary Share
Volume(s)
Options over Ordinary Shares
Michael Raybould 40,000
Jacqui Gale 25,000
Michael Knapper 25,000
William Robedee 25,000
David Sproston 25,000
Moira MacDonald 11,000
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
Michael Raybould 10,813
Jacqui Gale 5,706
Michael Knapper 5,506
William Robedee 7,051
David Sproston 4,279
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
f)
Date of the transactions
In respect of (A) Grant of options under Option Plans - 25 April 2022
In respect of (B) Grant of options under Deferred Plan 25 April 2022
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
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 +44 (0) 1782 743 443 mraybould@portmeiriongroup.com
David Sproston, Group Finance Director +44 (0) 1782 743 443 dsproston@portmeiriongroup.com
Hudson Sandler:
Dan de Belder +44 (0) 207 796 4133 ddebelder@hudsonsandler.com
Nick Moore nmoore@hudsonsandler.com
Panmure Gordon
(Nominated Adviser and Broker):
+44 (0) 207 886 2500
Freddy Crossley
Rupert Dearden Corporate Broking
Singer Capital Markets
(Joint Broker): +44 (0) 207 496 3000
Peter Steel / Asha Chotai Investment Banking
Rachel Hayes
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