Bakkavor Group PLC Director/PDMR Shareholding (8021D)

TIDMBAKK

RNS Number : 8021D

Bakkavor Group PLC

30 October 2020

30 OCTOBER 2020

NOTIFICATION DEALING WITH GRANT OF AWARDS TO PDMRS

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 30 October 2020 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 
 Pete Laport         354,823         Performance Share Award 
              --------------------  ------------------------ 
 Pete Laport         177,411         Restricted Share Award 
              --------------------  ------------------------ 
 
 

The awards will ordinarily vest 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 performance condition set for the award is satisfied. The performance condition shall measure the Company's total shareholder return over the three-year period commencing on 14 October 2020 relative to that of a bespoke group of comparator companies.

Details of the full notifications received by the Company are set out below.

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                             Pete Laport 
     -------------------------------  ----------------------------------------------- 
 2    Reason for Notification 
     -------------------------------------------------------------------------------- 
 a)   Position/status                  President and Chief Executive Officer 
                                        of Bakkavor USA 
     -------------------------------  ----------------------------------------------- 
 b)   Initial notification/Amendment   Initial Announcement 
     -------------------------------  ----------------------------------------------- 
 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 conditional share 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 
                                        vest three years from the date of grant, 
                                        subject to continued service. The Performance 
                                        Share Award will only vest to the extent 
                                        to which the total shareholder return 
                                        performance condition is met. No performance 
                                        conditions apply to the Restricted 
                                        Share Award. 
     -------------------------------  ----------------------------------------------- 
 c)   Price(s) and volume(s)            Price(s)   Volume(s) 
                                         Nil        354,823 Performance 
                                                     Share Award 
 
                                          Nil        177,411 Restricted 
                                                     Share Award 
                                                   -------------------- 
     -------------------------------  ----------------------------------------------- 
 d)        Aggregated information 
             *    Aggregated volume 
 
                                         532,234 
             *    Price                  Nil 
     -------------------------------  ----------------------------------------------- 
 e)   Date of the transaction          30 October 2020 
     -------------------------------  ----------------------------------------------- 
 f)   Place of the transaction         Outside a trading venue 
     -------------------------------  ----------------------------------------------- 
 

-Ends-

Enquiries

Company Secretarial:

Annabel Tagoe-Bannerman, General Counsel and Company Secretary [phone]

Institutional investors and analysts:

Sally Barret-Jolley, Head of Corporate Affairs [phone]

Media enquiries:

Tulchan Communications [phone]

Will Smith

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, Marks & Spencer, 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 30, 2020 09:00 ET (13:00 GMT)