Burberry Group PLC Director/PDMR Shareholding (4506E)

TIDMBRBY

RNS Number : 4506E

Burberry Group PLC

09 February 2018

Burberry Group plc (the "Company") - Director/PDMR Shareholdings

The Company announces that it received notification on 8 February 2018 of changes in the interests of Marco Gobbetti, Chief Executive Officer and a director of the Company, in the Ordinary Shares of 0.05p each in the Company ("Shares"), as set out below.

As set out in the market announcement of 11 July 2016, the Remuneration Committee agreed to buy out awards forfeited by Mr Gobbetti on leaving his previous employer.

Mr Gobbetti has been granted two awards over Shares - the first award is over 227,627 Shares with a grant value of EUR4m ("Award 1") and the second is over 51,785 Shares with a grant value of EUR910,000 ("Award 2)".

Award 1 vested in full immediately, and Award 2 vested 33% immediately, and will vest 33% in October 2018, 17% in October 2019 and 17% in October 2020. The second portion of Award 2 will vest subject to continued employment only. Following shareholder feedback, the vesting of the third and fourth portions are now also subject to the original LVMH performance conditions being satisfied, as well as subject to continued employment. Both of these awards have been made in the form of nil-cost options, including, in relation to Award 2, entitlements to dividend equivalents.

The Company announces that, on 8 February 2018, Mr Gobbetti exercised in full 100% of Award 1 and the 33% of Award 2 which vested immediately and acquired 244,716 Shares. Following this exercise, and on the same day, a total of 115,239 of these newly acquired Shares were automatically sold on Mr Gobbetti's behalf, at a price of GBP15.465 per Share, to fund the tax and social security liabilities arising on the exercise.

9 February 2018

The following disclosures are made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  -------------------------------------------------------------------- 
 a)   Name                   Marco Gobbetti 
---  ---------------------  --------------------------------------------- 
 2    Reason for the notification 
---  -------------------------------------------------------------------- 
 a)   Position/status        Chief Executive Officer 
---  ---------------------  --------------------------------------------- 
 b)   Initial notification   Initial notification 
       /Amendment 
---  ---------------------  --------------------------------------------- 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  -------------------------------------------------------------------- 
 a)   Name                   Burberry Group plc 
---  ---------------------  --------------------------------------------- 
 b)   LEI                    213800PE1KEFCNFR1R50 
---  ---------------------  --------------------------------------------- 
 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              Ordinary shares of 0.05 pence 
       of the financial         each 
       instrument, 
       type of instrument 
       Identification           GB0031743007 
       code 
---  -----------------------  ------------------------------------------- 
 b)   Nature of                Grant of nil-cost options over 
       the transaction          279,412 shares in connection 
                                with recruitment to the role 
                                of Chief Executive Officer 
---  -----------------------  ------------------------------------------- 
 c)   Price(s) and               Price(s)    Volume(s) 
       volume(s)                 ----------  ---------- 
                                  Nil         279,412 
                                 ----------  ---------- 
---  -----------------------  ------------------------------------------- 
 d)   Aggregated                 Aggregate   Aggregate   Aggregate 
       information                 Price       Volume      Total 
                                 ----------  ----------  ---------- 
       - Aggregated               Nil         279,412     N/A 
       volume                    ----------  ----------  ---------- 
 
       - Price 
---  -----------------------  ------------------------------------------- 
 e)   Date of the              2018-02-08 
       transaction 
---  -----------------------  ------------------------------------------- 
 f)   Place of the             Outside a trading venue 
       transaction 
---  -----------------------  ------------------------------------------- 
 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              Ordinary shares of 0.05 pence 
       of the financial         each 
       instrument, 
       type of instrument 
       Identification           GB0031743007 
       code 
---  -----------------------  ------------------------------------------- 
 b)   Nature of                Exercise of nil-cost options 
       the transaction          and subsequent acquisition of 
                                244,716 shares 
---  -----------------------  ------------------------------------------- 
 c)   Price(s) and               Price(s)    Volume(s) 
       volume(s)                 ----------  ---------- 
                                  Nil         244,716 
                                 ----------  ---------- 
---  -----------------------  ------------------------------------------- 
 d)   Aggregated                 Aggregate   Aggregate   Aggregate 
       information                 Price       Volume      Total 
                                 ----------  ----------  ---------- 
       - Aggregated               Nil         244,716     N/A 
       volume                    ----------  ----------  ---------- 
 
       - Price 
---  -----------------------  ------------------------------------------- 
 e)   Date of the              2018-02-08 
       transaction 
---  -----------------------  ------------------------------------------- 
 f)   Place of the             Outside a trading venue 
       transaction 
---  -----------------------  ------------------------------------------- 
 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              Ordinary shares of 0.05 pence 
       of the financial         each 
       instrument, 
       type of instrument 
       Identification           GB0031743007 
       code 
---  -----------------------  ------------------------------------------- 
 b)   Nature of                Sale of shares 
       the transaction 
---  -----------------------  ------------------------------------------- 
 c)   Price(s) and               Price(s)     Volume(s) 
       volume(s)                 -----------  ---------- 
                                  GBP15.465    115,239 
                                 -----------  ---------- 
---  -----------------------  ------------------------------------------- 
 d)   Aggregated                 Aggregate   Aggregate   Aggregate 
       information                 Price       Volume      Total 
                                 ----------  ----------  ---------------- 
       - Aggregated               GBP15.465   115,239     GBP1,782,171.14 
       volume                    ----------  ----------  ---------------- 
 
       - Price 
---  -----------------------  ------------------------------------------- 
 e)   Date of the              2018-02-08 
       transaction 
---  -----------------------  ------------------------------------------- 
 f)   Place of the             XLON 
       transaction 
---  -----------------------  ------------------------------------------- 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

DSHLLFVIFSIAIIT

(END) Dow Jones Newswires

February 09, 2018 05:35 ET (10:35 GMT)