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PMP Portmeirion Group Plc

230.00
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Portmeirion Group Plc LSE:PMP London Ordinary Share GB0006957293 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 230.00 225.00 235.00 230.00 230.00 230.00 4,365 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Misc Homefurnishings Stores 102.74M -8.46M -0.6146 -3.74 31.65M

Portmeirion Group PLC Grant of Options

08/05/2024 7:00am

RNS Regulatory News


RNS Number : 4880N
Portmeirion Group PLC
08 May 2024
 

8 May 2024

 

 

Portmeirion Group PLC

("Portmeirion" or the "Company")

 

Grant of Options

 

The Portmeirion Group 2022 Approved Share Option Plan,  The Portmeirion Group 2022 Unapproved Share Option Plan, The Portmeirion 2012 Approved Share Option Plan and The Portmeirion 2012 Unapproved Share Option Plan (the "Option Plans")

 

The Company announces that the Company's Remuneration Committee and Board, have approved, as part of its long-term employee remuneration and retention incentives, the surrender of 482,500 options over ordinary shares of 5 pence each in the Company ("Ordinary Shares") in issue ("Existing Options") on 3 May 2024 and the grant of 323,000 options over Ordinary Shares ("New Options") on 7 May 2024 to Directors and senior managers pursuant to the Option Plans.

 

The surrender of Existing Options relates to options over 192,500 Ordinary Shares and 290,000 Ordinary Shares with an exercise price of 570.0 pence and 469.0 pence granted on 25 April 2022 and 2 May 2023 respectively.  The Existing Options were surrendered for no consideration.  Included within the Existing Options surrendered was a total of 296,000 Existing Options previously granted to persons discharging managerial responsibilities ("PDMRs") of the Company as set out below.  The remaining Existing Options surrendered were held by senior managers. All Existing Options granted on 23 March 2021 under the Option Plans lapsed without exercise on 26 March 2024.

 

The grant of New Options comprises options over a total of 175,000 Ordinary Shares to PDMRs as set out below and a further 148,000 options to other senior managers pursuant to The Portmeirion Group 2022 Approved Share Option Plan and The Portmeirion Group 2022 Unapproved Share Option Plan (the "2022 Options Plans").  The New Options granted have a vesting period of three years, a total exercise period of seven years between 8 May 2027 and 6 May 2034 and an exercise price of 257.5 pence per Ordinary Share (being the closing mid-market price of an Ordinary Share on the dealing day immediately preceding the date of grant).

 

The New Options are subject to the achievement of performance targets as determined by the Remuneration Committee, and as required under the 2022 Option Plans. The New Options granted on 7 May 2024 are only exercisable if the increase in the average of the Group's basic adjusted (for changes in accounting standards and exceptional items) earnings per share for the three years ending 31 December 2024, 31 December 2025 and 31 December 2026 is at least 65% higher than that calculated for the year ended 31 December 2023. The calculation of basic adjusted EPS shall take account of the number of shares and effective tax rates at the date of grant.

 



Number of Existing Options surrendered at 570.0 pence per Ordinary Share

Number of Existing Options surrendered at 469.0 pence per Ordinary Share

Number of New Options granted at an exercise price of 257.5 pence per Ordinary Share

Company directors/officers:




Michael Raybould

Chief Executive

40,000

50,000

50,000

Michael Knapper

Group Operations Director

25,000

35,000

35,000

William Robedee

Global Sales Director

25,000

35,000

35,000

David Sproston

Group Finance Director

25,000

35,000

35,000

Moira MacDonald

Group Company Secretary

11,000

15,000

20,000


Total:

126,000

170,000

175,000

 

   

.

 

PDMR Shareholdings

 

The total number of Ordinary Shares over which each PDMR holds options and the total number of Ordinary Shares with voting rights held following the above transactions are as follows:

 


Total number of options

over Ordinary Shares*

Total number

 of Ordinary Shares with

voting rights

Ordinary Shares percentage of Company's Ordinary Shares with voting rights

 

Michael Raybould

66,088

11,886

0.08%

Michael Knapper

43,192

8,191

0.06%

William Robedee

45,915

-

-

David Sproston

41,366

3,815

0.03%

Moira MacDonald

20,000

2,693

0.02%

 

*In addition to the New Options, includes options held under The Portmeirion Group 2018 Deferred Incentive Share Option Plan granted in 2022 and 2023: M. Raybould: 16,088; M. Knapper: 8,192; W. Robedee: 10,915 and D. Sproston: 6,366.

 

The notifications below, made in accordance with the requirements of the EU Market Abuse Regulation, provide further detail.

_____________________________________________

 

Notification and public disclosure of transactions by persons discharging managerial responsibilities / person closely associated with them.

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Michael Raybould

2.

Reason for the notification

a)

Position/status

Chief Executive

b)

Initial notification/Amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Portmeirion Group PLC

b)

LEI

2138003QC9J6TLZJHO70

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

Ordinary Shares of 5 pence each

b)

Identification code

GB0006957293

c)

Nature of the transactions

Performance related, Grant of options under 2022 Option Plans. Exercise period 8 May 2027 - 6 May 2034.

d)

Price(s) and volume(s)

 

In respect of Grant of options under 2022 Option Plans

Price at grant: Nil

 

Exercise Price:  £2.575 per Ordinary Share

 

Volume(s)

 


Options over Ordinary Shares

Michael Raybould

50,000

e)

Aggregated information

-     Aggregated volume

-     Price

In respect of Grant of options under 2022 Option Plans

Nil, grant of options only

f)

Date of the transactions

In respect of Grant of options under 2022 Option Plans - - Off-market 7 May 2024

 

g)

Place of the transactions

In respect of Grant of options under 2022 Option Plans - - Off-market

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

 

Michael Knapper

2.

Reason for the notification

a)

Position/status

Group Operations Director

b)

Initial notification/Amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Portmeirion Group PLC

b)

LEI

2138003QC9J6TLZJHO70

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

Ordinary Shares of 5 pence each

b)

Identification code

GB0006957293

c)

Nature of the transactions

Performance related, Grant of options under 2022 Option Plans. Exercise period 8 May 2027 - 6 May 2034.

d)

Price(s) and volume(s)

 

In respect of Grant of options under 2022 Option Plans

Price at grant: Nil

 

Exercise Price:  £2.575 per Ordinary Share

 

Volume(s)


Options over Ordinary Shares

Michael Knapper

35,000

e)

Aggregated information

-     Aggregated volume

-     Price

In respect of Grant of options under 2022 Option Plans

Nil, grant of options only

f)

Date of the transactions

 

In respect of Grant of options under 2022 Option Plans - - Off-market 7 May 2024

 

g)

Place of the transactions

In respect of Grant of options under 2022 Option Plans - - Off-market

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

 

William Robedee

2.

Reason for the notification

a)

Position/status

Global Sales Director

b)

Initial notification/Amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Portmeirion Group PLC

b)

LEI

2138003QC9J6TLZJHO70

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

Ordinary Shares of 5 pence each

b)

Identification code

GB0006957293

c)

Nature of the transactions

Performance related, Grant of options under 2022 Option Plans. Exercise period 8 May 2027 - 6 May 2034.

d)

Price(s) and volume(s)

 

In respect of Grant of options under 2022 Option Plans

Price at grant: Nil

 

Exercise Price:  £2.575 per Ordinary Share

 

Volume(s)


Options over Ordinary Shares

William Robedee

35,000

e)

Aggregated information

-     Aggregated volume

-     Price

In respect of Grant of options under 2022 Option Plans

Nil, grant of options only

f)

Date of the transactions

 

In respect of Grant of options under 2022 Option Plans - - Off-market 7 May 2024

 

g)

Place of the transactions

In respect of Grant of options under 2022 Option Plans - - Off-market

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

 

David Sproston

2.

Reason for the notification

a)

Position/status

Group Finance Director

b)

Initial notification/Amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Portmeirion Group PLC

b)

LEI

2138003QC9J6TLZJHO70

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

Ordinary Shares of 5 pence each

b)

Identification code

GB0006957293

c)

Nature of the transactions

Performance related, Grant of options under 2022 Option Plans. Exercise period 8 May 2027 - 6 May 2034.

d)

Price(s) and volume(s)

 

In respect of Grant of options under 2022 Option Plans

Price at grant: Nil

 

Exercise Price:  £2.575 per Ordinary Share

 

Volume(s)

 


Options over Ordinary Shares

David Sproston

35,000

e)

Aggregated information

-     Aggregated volume

-     Price

In respect of Grant of options under 2022 Option Plans

Nil, grant of options only

f)

Date of the transactions

 

In respect of Grant of options under 2022 Option Plans - - Off-market 7 May 2024

 

g)

Place of the transactions

In respect of Grant of options under 2022 Option Plans - - Off-market

 

1.

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

 

Moira MacDonald

2.

Reason for the notification

a)

Position/status

Group Company Secretary

b)

Initial notification/Amendment

Initial Notification

3.

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Portmeirion Group PLC

b)

LEI

2138003QC9J6TLZJHO70

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

Ordinary Shares of 5 pence each

b)

Identification code

GB0006957293

c)

Nature of the transactions

Performance related, Grant of options under 2022 Option Plans. Exercise period 8 May 2027 - 6 May 2034.

d)

Price(s) and volume(s)

 

In respect of Grant of options under 2022 Option Plans

Price at grant: Nil

 

Exercise Price:  £2.575 per Ordinary Share

 

Volume(s)

 


Options over Ordinary Shares

Moira MacDonald

20,000

e)

Aggregated information

-     Aggregated volume

-     Price

In respect of Grant of options under 2022 Option Plans

Nil, grant of options only

f)

Date of the transactions

 

In respect of Grant of options under 2022 Option Plans - - Off-market 7 May 2024

 

g)

Place of the transactions

In respect of Grant of options under 2022 Option Plans - - Off-market

 

 

Name of authorised official of issuer responsible for making notification:

 

Moira MacDonald

Company Secretary to Portmeirion Group PLC

 

ENQUIRIES:

 

Portmeirion Group PLC:

 

 

Mike Raybould, Chief Executive

+44 (0) 1782 743 443

mraybould@portmeiriongroup.com

David Sproston, Group Finance
Director

 

+44 (0) 1782 743 443

dsproston@portmeiriongroup.com

Hudson Sandler:

 

 

Dan de Belder

+44 (0) 207 796 4133

portmeirion@hudsonsandler.com

Nick Moore

Emily Brooker

 


nmoore@hudsonsandler.com

Shore Capital:

(Nominated Adviser and Joint Broker):

+44 (0) 207 408 4090


Patrick Castle

Lucy Bowden

Corporate Advisory


Malachy McEntyre

 

Corporate Broking


Singer Capital Markets

(Joint Broker):

 

+44 (0) 207 496 3000


Peter Steel

Investment Banking


Asha Chotai



 

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