Bakkavor Group PLC Director/PDMR Shareholding (2400F)

TIDMBAKK

RNS Number : 2400F

Bakkavor Group PLC

26 October 2018

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        Type of Award 
                          Award 
 Donna-Maria Lee         95,899          Performance Share Award 
                          47,949          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     Ordinary Shares of 2 pence each in 
       instrument, type of              Bakkavor Group plc 
       instrument 
 
       Identification code              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)            Price(s)   Volume(s) 
                                                   ------------------- 
                                         Nil        95,899 Performance 
                                                     Share Award 
 
                                          Nil        47,949 Restricted 
                                                     Share Award 
     -------------------------------  --------------------------------------------- 
 d)   Aggregated information 
 
        *    Aggregated volume           143,848 
                                         Nil 
 
        *    Price 
     -------------------------------  --------------------------------------------- 
 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 [phone]

Media enquiries:

Tulchan Communications [phone]

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

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October 26, 2018 02:00 ET (06:00 GMT)