26 Oct 2018 07:00
26 October 2018
NOTIFICATION DEALING WITH GRANT OF AWARDS TO PDMR
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.
On 24 October 2018 the following awards over ordinary shares of 2 pence in Bakkavor Group plc were granted under the Bakkavor Group plc Long Term Incentive Plan to the following person discharging managerial responsibilities:
PDMR | No. of shares under Award | Type of Award |
Donna-Maria Lee | 95,899 47,949 | Performance Share Award Restricted Share Award |
Each award will ordinarily become exercisable (or vest as relevant) on the third anniversary of grant subject to the grantee's continued service and, in the case of the Performance Share Award, only to the extent to which the adjusted earnings per share and total shareholder return performance conditions set for the award are satisfied.
Details of the full notification received by the Company are set out below:
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Donna-Maria Lee | ||||
2 | Reason for Notification | |||||
a) | Position/status | Group Human Resources Director | ||||
b) | Initial notification/Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Bakkavor Group plc | ||||
b) | LEI | 213800COL7AD54YU9949 | ||||
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 2 pence each in Bakkavor Group plc
GB00BF8J3Z99 | ||||
b) | Nature of the transaction | Grant of nil cost option awards under the Bakkavor Group plc Long Term Incentive Plan. One award is a Performance Share Award and the other a Restricted Share Award both of which will ordinarily become exercisable three years from the date of grant, subject to continued service and once exercisable may ordinarily be exercised at any point up until the tenth anniversary of the date of grant. The Performance Share Award will only vest to the extent to which the adjusted earnings per share and total shareholder return performance conditions are met. No performance conditions apply to the Restricted Share Award. | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
- Aggregated volume - Price |
143,848
Nil
| ||||
e) | Date of the transaction | 24 October 2018 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
-Ends-
Enquiries
Company Secretarial:
Simon Witham, General Counsel and Company Secretary +44(0)20 7908 6142
Media enquiries:
Tulchan Communications +44 (0)20 7353 4200
Catherine James, Will Smith, Jessica Reid
About Bakkavor
Bakkavor is the leading provider in the large and fast-growing UK Fresh Prepared Food (FPF) market, which consists of the four categories of Meals, Salads, Desserts and Pizza & Bread, and has a growing international presence in the US and China.
In the UK the Group is the number one producer by market share in all four FPF categories, supplying all of the UK's leading grocery retailers, including Tesco, M&S, Sainsbury's and Waitrose.
The International segment has operations in the US and China, supplying both retail and foodservice customers.
LEI number: 213800COL7AD54YU9949
Bakkavor (BAKK)