Last checked at 13 Oct 2022 16:05
13 October 2022
Bakkavor Group plc
(the "Company" or "Bakkavor")
NOTIFICATION DEALING WITH GRANT OF AWARDS TO PDMRS
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.
LTIP Awards
On 13 October 2022 the following awards over ordinary shares of 2 pence in Bakkavor Group plc were granted under the Bakkavor Group plc Long Term Incentive Plan to the following persons discharging managerial responsibilities:
PDMR | No. of shares under Award | Type of Award |
Pete Laport | 137,573 | Performance Share Award |
Pete Laport | 68,786 | Restricted Share Award |
The awards are structured as conditional awards.
The awards will ordinarily vest on the third anniversary of grant subject to the grantee's continued service and, in the case of the Performance Share Award, only to the extent to which the performance conditions set for the award are satisfied.
The performance conditions for the Performance Share Award relate to financial targets set for the Bakkavor USA business for the 2024 financial year.
Notifications
Details of the full notifications received by the Company are set out below.
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Pete Laport | ||||
2 | Reason for Notification | |||||
a) | Position/status | President and Chief Executive Officer of Bakkavor USA | ||||
b) | Initial notification/Amendment | Initial Announcement | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Bakkavor Group plc | ||||
b) | LEI | 213800COL7AD54YU9949 | ||||
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, type of instrument
Identification code | Ordinary Shares of 2 pence each in Bakkavor Group plc
GB00BF8J3Z99 | ||||
b) | Nature of the transaction | Grant of conditional share awards under the Bakkavor Group plc Long Term Incentive Plan. One award is a Performance Share Award and the other a Restricted Share Award both of which will ordinarily vest three years from the date of grant, subject to continued service. The Performance Share Award will only vest to the extent to which performance conditions are met. No performance conditions apply to the Restricted Share Award. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
- Aggregated volume - Price |
206,359 Nil | ||||
e) | Date of the transaction | 13 October 2022 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
-Ends-
Enquiries
Company Secretarial:
Annabel Tagoe-Bannerman, Group General Counsel and Company Secretary +44 (0) 20 7908 6130
Institutional investors and analysts:
Emily Daw, Head of Investor Relations +44 (0) 20 7908 6114
About Bakkavor
We are the leading provider of fresh prepared food ("FPF") in the UK, and our presence in the US and China positions the Group well in these high-growth markets. We leverage our consumer insight and scale to provide innovative food that offers quality, choice, convenience, and freshness. Our c.19,000 colleagues operate from 46 sites across our three markets supplying a portfolio of over 3,200 products across meals, pizza & bread, salads and desserts to leading grocery retailers in the UK and US, and international food brands in China.
LEI number: 213800COL7AD54YU9949