Last checked at 10 Apr 2018 12:08
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10 April 2018
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs") AND PERSONS CLOSELY ASSOCIATED WITH THEM IN ACCORDANCE WITH THE MARKET ABUSE REGULATIONS
On 9 April 2018 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 PDMRs:
PDMR | No. of shares under Award | Type of Award |
Peter Gates | 399,372 | Performance Share Award |
Michael Edwards | 162,770 | Performance Share Award |
Michael Edwards | 81,385 | Restricted Share Award |
Pippa Greenslade | 76,966 | Performance Share Award |
Pippa Greenslade | 38,483 | Restricted Share Award |
Einar Gustafsson | 104,851 | Performance Share Award |
Einar Gustafsson | 52,425 | Restricted Share Award |
Ivan Clingan | 89,367 | Performance Share Award |
Ivan Clingan | 44,683 | Restricted Share Award |
The awards will ordinarily become exercisable (or vest as relevant) on the third anniversary of grant subject to the grantee's continued service and, in the case of the Performance Share Awards, only to the extent to which the adjusted earnings per share and total shareholder return performance conditions set for the award are satisfied.
Details of the full notifications received by Bakkavor Group plc are set out below.
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Peter Gates | ||||
2 | Reason for Notification | |||||
a) | Position/status | Chief Financial Officer | ||||
b) | Initial notification/Amendment | Initial notification | ||||
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 a nil cost option award under the Bakkavor Group plc Long Term Incentive Plan. The award will ordinarily become exercisable three years from the date of grant, subject to continued service and to the extent to which the adjusted earnings per share and total shareholder return performance conditions are met, and once exercisable may be ordinarily exercised at any point up until the tenth anniversary of the date of grant. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
Not applicable - single transaction | ||||
e) | Date of the transaction | 9 April 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Michael Edwards | ||||
2 | Reason for Notification | |||||
a) | Position/status | Chief Operating Officer, UK | ||||
b) | Initial notification/Amendment | Initial notification | ||||
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 nil cost option 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 become exercisable three years from the date of grant, subject to continued service and once exercisable may ordinarily be exercised at any point up until the tenth anniversary of the date of grant. The Performance Share Award will only vest to the extent to which the adjusted earnings per share and total shareholder return 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 |
244,155
Nil | ||||
e) | Date of the transaction | 9 April 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Pippa Greenslade | ||||
2 | Reason for Notification | |||||
a) | Position/status | Group Human Resources Director | ||||
b) | Initial notification/Amendment | Initial notification | ||||
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 nil cost option 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 become exercisable three years from the date of grant, subject to continued service and once exercisable may ordinarily be exercised at any point up until the tenth anniversary of the date of grant. The Performance Share Award will only vest to the extent to which the adjusted earnings per share and total shareholder return 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 |
115,449
Nil
| ||||
e) | Date of the transaction | 9 April 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Einar Gustafsson | ||||
2 | Reason for Notification | |||||
a) | Position/status | Managing Director - Bakkavor China | ||||
b) | Initial notification/Amendment | Initial notification | ||||
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 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 subject to the extent to which the adjusted earnings per share and total shareholder return 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 |
157,276
Nil | ||||
e) | Date of the transaction | 9 April 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Ivan Clingan | ||||
2 | Reason for Notification | |||||
a) | Position/status | President and Chief Executive Officer of Bakkavor USA | ||||
b) | Initial notification/Amendment | Initial notification | ||||
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 awards under the Bakkavor Group plc Long Term Incentive Plan. One award is a Performance Share Awards 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 the adjusted earnings per share and total shareholder return performance conditions are met. There are no performance conditions applying to Restricted Share Award. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
134,050
Nil | ||||
e) | Date of the transaction | 9 April 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
-Ends-
Enquiries
Company Secretarial:
Simon Witham, General Counsel and Company Secretary +44 (0) 20 7908 6142
Institutional investors and analysts:
Tamarin Bibow, Head of Investor Relations +44 (0) 20 7908 6143
Media enquiries:
Tulchan Communications +44 (0) 20 7353 4200
Susanna Voyle, Will Smith, Jessica Reid
About Bakkavor
Bakkavor is the leading provider in the large and fast-growing UK Fresh Prepared Food ("FPF") market, which consists of the four categories of Meals, Salads, Desserts and Pizza & Bread, and has a growing international presence in the US and China.
In the UK the Group is the number one producer by market share in all four FPF categories, supplying all of the UK's leading grocery retailers, including Tesco, M&S, Sainsbury's and Waitrose.
The International segment has operations in the US and China, supplying both retail and foodservice customers.
LEI number: 213800COL7AD54YU9949