Last checked at 9 Aug 2019 07:00
9 August 2019
Portmeirion Group PLC
(the "Company")
Exercise of Options and PDMR Shareholdings
The Portmeirion 2012 Approved Share Option Plan and The Portmeirion 2012 Unapproved Share Option Plan (the "Option Plans") and The Portmeirion Group 2018 Deferred Incentive Share Option Plan (the "Deferred Plan")
As part of its long term employee remuneration and retention incentives, the Company announces that, on 8 August 2019, the following transactions occurred for the persons discharging managerial responsibilities ("PDMRs") as shown below:
Option Plans number options granted (A) | Deferred Plan number options granted (B) | Exercise Price over Deferred Plan options | Deferred Plan existing options exercised (C) | ||
Company directors/officers: | |||||
Philip Atherton | Group Sales & Marketing Director | - | 4,173 | £1.00 | 1,365 |
Lawrence Bryan | Chief Executive | - | 10,007 | £1.00 | 2,860 |
Michael Knapper | Operations Director | - | 2,615 | £1.00 | - |
Moira MacDonald | Company Secretary | 4,600 | - | - | - |
Michael Raybould | Group Finance Director | - | 4,358 | £1.00 | - |
Subsidiary Company directors: | |||||
Robert Findler | Production Director (Portmeirion UK) | 7,500 | - | - | - |
Jacqui Gale | Managing Director (Wax Lyrical) | 10,000 | - | - | - |
Samantha Pearce | HR Director (Portmeirion UK) | 4,600 | - | - | - |
David Sproston | Finance Director (Portmeirion UK) | 4,600 | - | - | - |
Total: | 31,300 | 21,153 | 4,225 | ||
Note:
(A) Grant of options under Option Plans.
(B) Grant of new options under Deferred Plan against 2018 performance and incentive arrangements (further detail below).
(C) Exercise of existing options under the Deferred Plan.
The Company granted 31,300 options over Ordinary Shares to the PDMRs shown above and a further 46,000 options over Ordinary Shares to other senior managers pursuant to the Option Plans, including the amounts shown above.
In addition, the Company granted 21,153 options to Executive Directors shown above over Ordinary Shares pursuant to the Deferred Plan. In accordance with the rules of the Deferred Plan, the number of options granted is based on the gross incentive payment earned by the relevant Director in respect of the year ended 31 December 2018.
As a result of the exercise of Deferred Plan options detailed above, the Company transferred 4,225 Ordinary Shares from those held in treasury by the Company. Consequently, the Company has made an application to the London Stock Exchange for 4,225 new Ordinary Shares to be admitted to trading on AIM and trading of these Ordinary Shares is expected to commence on or around 14 August 2019 ("Admission").
Following Admission, the total number of Ordinary Shares held by the Company in treasury is 230,382 and the Company will have 11,107,483 Ordinary Shares in issue and 10,877,101 Ordinary Shares with voting rights. The figure of 10,877,101 Ordinary Shares may be used by shareholders of the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
PDMR Shareholdings
The total number of Ordinary Shares over which each PDMR holds options and the total number of Ordinary Shares with voting rights held following this Admission is:
Total number of options over Ordinary Shares | Total number of Ordinary Shares with voting rights | Ordinary Shares percentage of Company's Ordinary Shares with voting rights
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Philip Atherton | 56,965 | 16,499 | 0.15% | |
Lawrence Bryan | 96,947 | 98,561 | 0.91% | |
Michael Knapper | 49,365 | 2,511 | 0.02% | |
Moira MacDonald | 19,600 | 2,693 | 0.02% | |
Michael Raybould | 67,275 | - | - | |
Robert Findler | 10,500 | - | - | |
Jacqui Gale | 10,000 | - | - | |
Samantha Pearce | 19,600 | 100 | 0.00% | |
David Sproston | 17,100 | - | - | |
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).
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 | (A) Performance related, Grant of options under Option Plans. Exercise period 9 August 2022 - 7 August 2029. (B) Grant of new options under The Portmeirion Group 2018 Deferred Incentive Share Option Plan (the "Deferred Plan"). (C) Exercise of Existing options under the Deferred Plan. | ||||||||||||||||||||||||||||
d) | Price(s) and volume(s)
| In respect of (A) Grant of options under Option Plans Price at grant: Nil
Exercise Price: £9.80 pence per Ordinary Share
Volume(s)
In respect of (B) Grant of options under Deferred Plan Price at grant: Nil Exercise Price (per PDMR in respect of all options granted): £1
In respect of (C) Exercise of options under the Deferred Plan Exercise Price (per PDMR in respect of all options exercised): £1
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e) | Aggregated information - Aggregated volume - Price | In respect of (A) Grant of options under Option Plans Nil, grant of options only In respect of (B) Grant of options under Deferred Plan Nil, grant of options only In respect of (C) Exercise of options under the Deferred Plan £1.00 £1.00
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f) | Date of the transactions |
In respect of (A) Grant of options under Option Plans - 8 August 2019
In respect of (B) Grant of options under Deferred Plan 8 August 2019
In respect of (C) Exercise of options under the Deferred Plan - 8 August 2019
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g) | Place of the transactions | In respect of (A) Grant of options under Option Plans - - Off-market In respect of (B) Grant of options under Deferred Plan - Off-market In respect of (C) Exercise of options under the Deferred Plan - Off-market
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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, Non-executive Chairman | +44 (0) 1782 744721 | steele_clan@msn.com |
Mike Raybould, Group Finance Director | +44 (0) 1782 744721 | mraybould@portmeiriongroup.com |
Hudson Sandler: | ||
Dan de Belder Nick Moore Oenone Potter | +44 (0) 207 796 4133 | ddebelder@hudsonsandler.com nmoore@hudsonsandler.com opotter@hudsonsandler.com |
Panmure Gordon: | ||
(Nominated Adviser and Broker) | +44 (0) 207 886 2500 | |
Freddy Crossley / Joanna Langley | Corporate Finance | |
James Stearns | Corporate Broking
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Cantor Fitzgerald Europe: | ||
(Joint Broker) | +44 (0) 207 894 7000 | |
Phil Davies / Rick Thompson | Corporate Finance | |
Casper Shand Kydd | Sales
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