Last checked at 8 Aug 2016 10:25
Premier Foods plc (the Company)
Notification of transactions by persons discharging managerial responsibilities and persons closely associated
The Company announces that on 5 August 2016 Gavin Darby, Chief Executive Officer, acquired 662,058 ordinary shares of 10 pence each in the share capital of the Company ("Shares") and in addition received 397,752 Shares following the exercise of the final tranche of his Co-Investment Award. Following these transactions Mr Darby now beneficially holds 5,213,336 Shares representing 0.63% of the Company's issued share capital.
Acquisition of shares
On 5 August 2016 Mr Darby acquired 662,058 Shares at a price of 51.3634p. In addition to the 25% of any annual bonus awarded to Mr Darby in the form of Shares, Mr Darby elected to receive the balance of his annual bonus in the form of Shares and the above acquisition represents Mr Darby's entire annual bonus net of income tax and employee national insurance.
Co-Investment Award
The final tranche of Mr Darby's Co-Investment Award ("Award"), representing 751,814 Shares, vested on 1 May 2016. The Award is structured as a nil cost option. Mr Darby exercised the Award on 5 August 2016 and then sold sufficient Shares to cover income tax and employee national insurance on 5 August 2016 at a price of 51.375p per Share.
Award Shares exercised
| Number of Shares sold to cover income tax and employee NI | Number of Shares retained |
751,814 | 354,062 | 397,752 |
Following these transactions Mr Darby's holding is as follows:
Name | Total number of Shares acquired/received | Total beneficial holding of Shares following the transactions | Total percentage of issued share capital following the transactions |
Gavin Darby | 1,059,810 | 5,213,336 | 0.63% |
The notifications set out below are provided in accordance with the requirements of the Market Abuse Regulation.
8 August 2016
ENQUIRIES:
For further information please contact:
Andrew McDonaldGeneral Counsel & Company Secretary
+44 (0) 1727 815 850
1
| Details of the person discharging managerial responsibilities / person closely associated | |||||
a)
| Name | Gavin Darby | ||||
2
| Reason for the notification | |||||
a)
| Position/status | Chief Executive Officer | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a)
| Name | Premier Foods plc | ||||
b)
| LEI | N/A | ||||
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 10p each ("Shares") ISIN: GB00B7N0K053 | ||||
b)
| Nature of the transaction
| Acquisition of Shares | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price
| N/A
| ||||
e)
| Date of the transaction | 5 August 2016 | ||||
f)
| Place of the transaction | London Stock Exchange | ||||
5
| 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 10p each ("Shares") ISIN: GB00B7N0K053 | ||||
b)
| Nature of the transaction
| Acquisition of Shares following the exercise of the final tranche of the CEO's Co-Investment Award. The Award is structured as a nil cost option. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price | N/A
| ||||
e)
| Date of the transaction | 5 August 2016 | ||||
f)
| Place of the transaction | London Stock Exchange | ||||
6
| 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 10p each ("Shares") ISIN: GB00B7N0K053 | ||||
b)
| Nature of the transaction
| Sale of Shares to cover income tax and employee national insurance following exercise of CEO's Co-Investment Award | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price | N/A
| ||||
e)
| Date of the transaction
| 5 August 2016 | ||||
f)
| Place of the transaction | London Stock Exchange | ||||