Last checked at 11 Aug 2017 12:41
11 August 2017
Portmeirion Group PLC
(the "Company")
Executive Share Option Grants
The Company announces that, on 11 August 2017, it granted options to Directors and senior managers over a total of 193,000 ordinary shares of 5 pence each in the Company ("Ordinary Shares") pursuant to The Portmeirion 2012 Approved Share Option Plan and The Portmeirion 2012 Unapproved Share Option Plan (the "2012 Plans").
The options are subject to the achievement of performance criteria as determined by the Remuneration Committee, and as required under the 2012 Plans. The options granted on 11 August 2017 are normally only exercisable if the increase in the average of the Group's basic adjusted earnings per share (as adjusted for changes in accounting standards and exceptional items) for each of the three years ending 31 December 2017, 31 December 2018 and 31 December 2019 is at least 13% higher than that for the year ended 31 December 2016. The exercise price of the options is in reference to the closing middle market price of an Ordinary Share on 10 August 2017, being the latest date prior to the grant. Of the total number of options granted, 145,000 options over Ordinary Shares were granted to persons discharging managerial responsibilities ("PDMRs") of the Company, as detailed below:
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| Number options granted | Exercise price per Ordinary Share | Exercise period |
Company directors/officers: | ||||
Philip Atherton | Group Sales & Marketing Director | 25,000 | £9.60 | 12 August 2020 - 10 August 2027 |
Lawrence Bryan | Chief Executive | 40,000 | £9.60 | 12 August 2020 - 10 August 2027 |
Michael Raybould | Group Finance Director | 30,000 | £9.60 | 12 August 2020 - 10 August 2027 |
Michael Knapper | Operations Director | 20,000 | £9.60 | 12 August 2020 - 10 August 2027 |
Moira MacDonald | Group Company Secretary | 7,500 | £9.60 | 12 August 2020 - 10 August 2027 |
Subsidiary company directors: | ||||
Joanne Barber | Wax Lyrical Managing Director | 7,500 | £9.60 | 12 August 2020 - 10 August 2027 |
Samantha Pearce | HR Director | 7,500 | £9.60 | 12 August 2020 - 10 August 2027 |
Nigel Spencer | Production Director | 7,500 | £9.60 | 12 August 2020 - 10 August 2027 |
| Total: | 145,000 |
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The total number of Ordinary Shares over which each PDMR holds options following this notification is:
| Total number of options over Ordinary Shares |
Philip Atherton | 60,467 |
Lawrence Bryan | 94,394 |
Michael Raybould | 30,000 |
Michael Knapper | 31,000 |
Moira MacDonald | 11,900 |
Joanne Barber | 7,500 |
Samantha Pearce | 11,900 |
Nigel Spencer | 34,288 |
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
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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
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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 | Grant of options over Ordinary Shares | ||||||||||||||||||||
d) | Price(s) and volume(s) | Price at grant: Nil Exercise Price: 960 pence per Ordinary Share Volume(s)
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e) | Aggregated information - Aggregated volume - Price | Nil, grant of options only | ||||||||||||||||||||
f) | Date of the transactions | 11 August 2017 | ||||||||||||||||||||
f) | Place of the transactions | Off-market | ||||||||||||||||||||
Name of authorised official of issuer responsible for making notification:
Moira MacDonald
Company Secretary to Portmeirion Group PLC
ENQUIRIES:
Portmeirion Group PLC: |
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Dick Steele | +44 (0) 1782 744 721 | steele_clan@msn.com |
Non-executive Chairman Mike Raybould |
+44 (0) 1782 744 721 |
mraybould@portmeiriongroup.com |
Group Finance Director
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Bell Pottinger: |
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Dan de Belder Robert McGowan Stuart | +44 (0) 203 772 2561 +44 (0) 203 772 2553 | ddebelder@bellpottinger.com rmcgowanstuart@bellpottinger.com |
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Panmure Gordon (Nominated Adviser and Broker): |
+44 (0) 207 886 2500 |
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Freddy Crossley/ Duncan Monteith | Corporate Finance |
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Tom Salvesen | Corporate Broking |
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Cantor Fitzgerald Europe (Joint Broker): |
+44 (0) 207 894 7000 |
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Catherine Leftley /Marc Milmo | Corporate Finance |
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Mark Westcott | Sales |
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