Last checked at 2 Oct 2020 11:55
Tate & Lyle PLC
Notification of transactions by Persons Discharging Managerial Responsibilities
Tate & Lyle PLC (the 'Company') announces that a grant of options and awards over the Company's ordinary shares of 25 pence each in the capital of the Company ('Shares') was made on 30 September 2020 under the Tate & Lyle Performance Share Plan 2020 ('PSP') and the Tate & Lyle Group Bonus Plan ('GBP') in respect of the year ended 31 March 2020 to Persons Discharging Managerial Responsibilities ('PDMR') as detailed in the table below:
PDMR | No. of Shares subject to PSP award | No. of Shares subject to GBP award |
Nick Hampton | 273,295 | 15,487 |
Imran Nawaz | 193,156 | 10,946 |
Rowan Adams | 108,743 | None |
Lindsay Beardsell | 154,114 | None |
Melissa Law | 158,187 | None |
Laura Hagan | 123,291 | None |
Jim Stutelberg | 154,359 | None |
Andrew Taylor | 157,475 | None |
Awards under the PSP are structured as either nil-cost options or conditional awards. Options and awards granted under the PSP will only vest to the extent that certain performance criteria are satisfied by the Company over a three-year performance period which runs from 1 April 2020 to 31 March 2023. These criteria are described in the Annual Report 2020.
Further information on the operation of the GBP is provided in the Annual Report 2020.
No consideration is payable for the grant or exercise of the options or awards under the PSP or GBP.
Additionally, the Company was informed that 11,299 ordinary shares of 25 pence each in the capital of the Company ('Shares') were released on 30 September 2020 to Melissa Law, a Person Discharging Managerial Responsibilities, in accordance with the Restricted Share Award that was granted to her on 24 November 2017. 5,006 shares were withheld to satisfy tax obligations arising on the release of the Shares. As a result, Ms. Law acquired and retained a total of 6,293 Shares. For tax purposes, the market value of the Shares, being the average of the two closing prices on the date of the transaction, was 665.20 pence per share. No consideration was paid for the acquisition of these Shares.
The notifications below, which have been made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail.
Claire-Marie O'Grady
Company Secretary
2 October 2020
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of PDMR / person closely associated with them ("PCA") | |||||||
a) | Name | Nick Hampton | ||||||
2. | Reason for the notification | |||||||
a) | Position / status | PDMR | ||||||
b) | Initial notification / amendment | Initial notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Tate & Lyle PLC | ||||||
b) | LEI | 2138008K14474WPKZ244 | ||||||
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 Identification code | Ordinary shares of 25 pence each in the capital of Tate & Lyle PLC
GB0008754136 | ||||||
b) | Nature of the transaction | Grant of nil-cost options over shares for no consideration under the Tate & Lyle Performance Share Plan 2020 and Group Bonus Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price |
288,782
Nil | ||||||
e) | Date of the transaction | 2020-09-30 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of PDMR / person closely associated with them ("PCA") | |||||||
a) | Name | Imran Nawaz | ||||||
2. | Reason for the notification | |||||||
a) | Position / status | PDMR | ||||||
b) | Initial notification / amendment | Initial notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Tate & Lyle PLC | ||||||
b) | LEI | 2138008K14474WPKZ244 | ||||||
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 Identification code | Ordinary shares of 25 pence each in the capital of Tate & Lyle PLC
GB0008754136 | ||||||
b) | Nature of the transaction | Grant of nil-cost options over shares for no consideration under the Tate & Lyle Performance Share Plan 2020 and Group Bonus Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price |
204,102
Nil | ||||||
e) | Date of the transaction | 2020-09-30 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Rowan Adams | ||||
2. | Reason for the notification | |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Tate & Lyle PLC | ||||
b) | LEI | 2138008K14474WPKZ244 | ||||
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 Identification code | Ordinary shares of 25 pence each in the capital of Tate & Lyle PLC
GB0008754136 | ||||
b) | Nature of the transaction | Grant of nil-cost options over shares for no consideration under the Tate & Lyle Performance Share Plan 2020 | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
108,743 Nil | ||||
e) | Date of the transaction | 2020-09-30 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Lindsay Beardsell | ||||
2. | Reason for the notification | |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Tate & Lyle PLC | ||||
b) | LEI | 2138008K14474WPKZ244 | ||||
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 Identification code | Ordinary shares of 25 pence each in the capital of Tate & Lyle PLC
GB0008754136 | ||||
b) | Nature of the transaction | Grant of nil-cost options over shares for no consideration under the Tate & Lyle Performance Share Plan 2020 | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
154,114
Nil | ||||
e) | Date of the transaction | 2020-09-30 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Melissa Law | ||||
2. | Reason for the notification | |||||
a) | Position / status | PDMR - President, Global Operations | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Tate & Lyle PLC | ||||
b) | LEI | 2138008K14474WPKZ244 | ||||
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 Identification code | Ordinary shares of 25 pence each in the capital of Tate & Lyle PLC
GB0008754136 | ||||
b) | Nature of the transaction | Grant of a conditional award over shares for no consideration under the Tate & Lyle Performance Share Plan 2020 | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
158,187
Nil | ||||
e) | Date of the transaction | 2020-09-30 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Laura Hagan | ||||
2. | Reason for the notification | |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Tate & Lyle PLC | ||||
b) | LEI | 2138008K14474WPKZ244 | ||||
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 Identification code | Ordinary shares of 25 pence each in the capital of Tate & Lyle PLC
GB0008754136 | ||||
b) | Nature of the transaction | Grant of nil-cost options over shares for no consideration under the Tate & Lyle Performance Share Plan 2020 | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
123,291
Nil | ||||
e) | Date of the transaction | 2020-09-30 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Jim Stutelberg | ||||
2. | Reason for the notification | |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Tate & Lyle PLC | ||||
b) | LEI | 2138008K14474WPKZ244 | ||||
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 Identification code | Ordinary shares of 25 pence each in the capital of Tate & Lyle PLC
GB0008754136 | ||||
b) | Nature of the transaction | Grant of a conditional award over shares for no consideration under the Tate & Lyle Performance Share Plan 2020 | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
154,359
Nil | ||||
e) | Date of the transaction | 2020-09-30 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Andrew Taylor | ||||
2. | Reason for the notification | |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Tate & Lyle PLC | ||||
b) | LEI | 2138008K14474WPKZ244 | ||||
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 Identification code | Ordinary shares of 25 pence each in the capital of Tate & Lyle PLC
GB0008754136 | ||||
b) | Nature of the transaction | Grant of a conditional award over shares for no consideration under the Tate & Lyle Performance Share Plan 2020 | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
157,475
Nil | ||||
e) | Date of the transaction | 2020-09-30 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of PDMR / person closely associated with them ("PCA") | |||||
a) | Name | Melissa Law | ||||
2. | Reason for the notification | |||||
a) | Position / status | PDMR | ||||
b) | Initial notification / amendment | Initial notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Tate & Lyle PLC | ||||
b) | LEI | 2138008K14474WPKZ244 | ||||
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 Identification code | Ordinary shares of 25 pence each in the capital of Tate & Lyle PLC
GB0008754136 | ||||
b) | Nature of the transaction | Acquisition of shares following the vesting of nil-cost conditional awards over shares for no consideration. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
6,293
Nil | ||||
e) | Date of the transaction | 2020-09-30 | ||||
f) | Place of the transaction | Outside a trading venue | ||||