Last checked at 7 Jun 2019 14:48
7 June 2019
Premier Foods plc (the "Company")
Notification of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated
2019 Deferred Bonus Plan Award
Pursuant to the Company's shareholder-approved Remuneration Policy, one-third of any annual bonus awarded to executive directors is delivered in the form of shares deferred for a three year period. On 7 June 2019 (the "Grant Date") Alastair Murray, Acting CEO & Chief Financial Officer was granted a deferred bonus award over 219,832 shares of 10p each in the Company, under the Premier Foods Deferred Bonus Plan (the "DBP") as part of his annual bonus award for the financial year ended 30 March 2019.
The deferred bonus award is structured as a nil cost option to acquire shares for nil consideration. It will normally vest and become exercisable under the DBP on the third anniversary of the Grant Date and remain exercisable until the tenth anniversary of the Grant Date. No consideration was paid for the grant of the deferred bonus award and no consideration shall be payable when a deferred bonus award is exercised.
2019 Long Term Incentive Plan Award
On 7 June 2019 (the "Grant Date") the executive director and members of the Executive Leadership Team of the Company (each a person discharging managerial responsibilities) were granted Performance Share Awards, over ordinary shares of 10p each in the Company, under the Premier Foods Long Term Incentive Plan (the "LTIP"), as set out below.
Name | Title | Number of shares subject to options |
Alastair Murray | Acting CEO & Chief Financial Officer | 1,777,623 |
Jette Andersen | Managing Director, International | 580,865 |
Mark Hughes | Procurement & Central Operations Director | 686,096 |
Simon Rose | General Counsel & Company Secretary | 597,949 |
Alex Whitehouse | Managing Director, UK | 900,341 |
David Wilkinson | Human Resources & Communications Director | 624,430 |
Each Performance Share Award is structured as a nil cost option to acquire shares for nil consideration. They will normally vest and become exercisable under the LTIP on the third anniversary of the Grant Date and remain exercisable until the day before the seventh anniversary of the Grant Date, subject to the participant continuing to hold an office or employment within the group and the achievement of two independent performance conditions. The first condition comprises of a relative total shareholder return based condition that will apply to two-thirds of the total number of shares held under an award and the second is an adjusted earnings per share based target that will apply to one-third of the total number of shares held under an award. No consideration was paid for the grant of the Performance Share Awards and no consideration shall be payable when a Performance Share Award is exercised.
The notifications set out below are provided in accordance with the requirements of the Market Abuse Regulation.
ENQUIRIES:
For further information please contact:
Simon Rose
General Counsel & Company Secretary
+44 (0) 1727 815 850
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Alastair Murray | ||||
2 | Reason for the notification | |||||
a) | Position/status | Acting CEO & 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 | Premier Foods plc | ||||
b) | LEI | 213800ZD5I8XHNMCJA67 | ||||
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") in the capital of Premier Foods plc ISIN: GB00B7N0K053 | ||||
b) | Nature of the transaction | Grant of award under the Premier Foods plc Deferred Bonus Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price | N/A
| ||||
e) | Date of the transaction | 7 June 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Alastair Murray | ||||
2 | Reason for the notification | |||||
a) | Position/status | Acting CEO & 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 | Premier Foods plc | ||||
b) | LEI | 213800ZD5I8XHNMCJA67 | ||||
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") in the capital of Premier Foods plc ISIN: GB00B7N0K053 | ||||
b) | Nature of the transaction | Grant of a Performance Share Award under the Premier Foods plc Long Term Incentive Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price | N/A
| ||||
e) | Date of the transaction | 7 June 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Jette Andersen | ||||
2 | Reason for the notification | |||||
a) | Position/status | Managing Director, International | ||||
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 | 213800ZD5I8XHNMCJA67 | ||||
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") in the capital of Premier Foods plc ISIN: GB00B7N0K053 | ||||
b) | Nature of the transaction | Grant of a Performance Share Award under the Premier Foods plc Long Term Incentive Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price | N/A
| ||||
e) | Date of the transaction | 7 June 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Mark Hughes | ||||
2 | Reason for the notification | |||||
a) | Position/status | Procurement & Central Operations Director | ||||
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 | 213800ZD5I8XHNMCJA67 | ||||
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") in the capital of Premier Foods plc ISIN: GB00B7N0K053 | ||||
b) | Nature of the transaction | Grant of a Performance Share Award under the Premier Foods plc Long Term Incentive Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price | N/A
| ||||
e) | Date of the transaction | 7 June 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Simon Rose | ||||
2 | Reason for the notification | |||||
a) | Position/status | General Counsel & Company Secretary | ||||
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 | 213800ZD5I8XHNMCJA67 | ||||
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") in the capital of Premier Foods plc ISIN: GB00B7N0K053 | ||||
b) | Nature of the transaction | Grant of a Performance Share Award under the Premier Foods plc Long Term Incentive Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price | N/A
| ||||
e) | Date of the transaction | 7 June 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Alex Whitehouse | ||||
2 | Reason for the notification | |||||
a) | Position/status | Managing Director, UK | ||||
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 | 213800ZD5I8XHNMCJA67 | ||||
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") in the capital of Premier Foods plc ISIN: GB00B7N0K053 | ||||
b) | Nature of the transaction | Grant of a Performance Share Award under the Premier Foods plc Long Term Incentive Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price | N/A
| ||||
e) | Date of the transaction | 7 June 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | David Wilkinson | ||||
2 | Reason for the notification | |||||
a) | Position/status | Human Resources & Communications Director | ||||
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 | 213800ZD5I8XHNMCJA67 | ||||
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") in the capital of Premier Foods plc ISIN: GB00B7N0K053 | ||||
b) | Nature of the transaction | Grant of a Performance Share Award under the Premier Foods plc Long Term Incentive Plan | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price | N/A
| ||||
e) | Date of the transaction | 7 June 2019 | ||||
f) | Place of the transaction | Outside a trading venue | ||||