Premier Foods plc Director/PDMR Shareholding (5292G)

TIDMPFD TIDMIRSH

RNS Number : 5292G

Premier Foods plc

08 August 2016

Premier Foods plc (the Company)

Notification of transactions by persons discharging managerial responsibilities and persons closely associated

The Company announces that on 5 August 2016 Gavin Darby, Chief Executive Officer, acquired 662,058 ordinary shares of 10 pence each in the share capital of the Company ("Shares") and in addition received 397,752 Shares following the exercise of the final tranche of his Co-Investment Award. Following these transactions Mr Darby now beneficially holds 5,213,336 Shares representing 0.63% of the Company's issued share capital.

Acquisition of shares

On 5 August 2016 Mr Darby acquired 662,058 Shares at a price of 51.3634p. In addition to the 25% of any annual bonus awarded to Mr Darby in the form of Shares, Mr Darby elected to receive the balance of his annual bonus in the form of Shares and the above acquisition represents Mr Darby's entire annual bonus net of income tax and employee national insurance.

Co-Investment Award

The final tranche of Mr Darby's Co-Investment Award ("Award"), representing 751,814 Shares, vested on 1 May 2016. The Award is structured as a nil cost option. Mr Darby exercised the Award on 5 August 2016 and then sold sufficient Shares to cover income tax and employee national insurance on 5 August 2016 at a price of 51.375p per Share.

 
       Award   Number of Shares          Number of 
      Shares      sold to cover    Shares retained 
   exercised         income tax 
                   and employee 
                             NI 
------------  -----------------  ----------------- 
     751,814            354,062            397,752 
------------  -----------------  ----------------- 
 

Following these transactions Mr Darby's holding is as follows:

 
 Name           Total number                   Total beneficial    Total percentage 
                 of Shares acquired/received    holding of          of issued 
                                                Shares following    share capital 
                                                the transactions    following 
                                                                    the transactions 
-------------  -----------------------------  ------------------  ------------------ 
 Gavin Darby                       1,059,810           5,213,336               0.63% 
-------------  -----------------------------  ------------------  ------------------ 
 

The notifications set out below are provided in accordance with the requirements of the Market Abuse Regulation.

8 August 2016

ENQUIRIES:

For further information please contact:

Andrew McDonald

General Counsel & Company Secretary

[phone]

 
 1    Details of the person discharging managerial 
       responsibilities / person closely associated 
---  -------------------------------------------------------------- 
 a)   Name                      Gavin Darby 
---  ------------------------  ------------------------------------ 
 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                      Premier Foods plc 
---  ------------------------  ------------------------------------ 
 b)   LEI                       N/A 
---  ------------------------  ------------------------------------ 
 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 10p each 
       instrument, type           ("Shares") 
       of instrument              ISIN: GB00B7N0K053 
       Identification 
       code 
---  ------------------------  ------------------------------------ 
 b)   Nature of the             Acquisition of Shares 
       transaction 
---  ------------------------  ------------------------------------ 
 c)   Price(s) and                Price(s)   Volume(s) 
       volume(s)                  ---------  ---------- 
                                   51.3634p   662,058 
                                  ---------  ---------- 
---  ------------------------  ------------------------------------ 
 d)   Aggregated information    N/A 
       - Aggregated 
       volume 
       - Price 
---  ------------------------  ------------------------------------ 
 e)   Date of the transaction   5 August 2016 
---  ------------------------  ------------------------------------ 
 f)   Place of the              London Stock Exchange 
       transaction 
---  ------------------------  ------------------------------------ 
 5    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 10p each 
       instrument, type           ("Shares") 
       of instrument              ISIN: GB00B7N0K053 
       Identification 
       code 
---  ------------------------  ------------------------------------ 
 b)   Nature of the             Acquisition of Shares following 
       transaction               the exercise of the final 
                                 tranche of the CEO's Co-Investment 
                                 Award. The Award is structured 
                                 as a nil cost option. 
---  ------------------------  ------------------------------------ 
 c)   Price(s) and                Price(s)    Volume(s) 
       volume(s)                  ----------  ---------- 
                                   N/A         751,814 
                                  ----------  ---------- 
---  ------------------------  ------------------------------------ 
 d)   Aggregated information    N/A 
       - Aggregated 
       volume 
       - Price 
---  ------------------------  ------------------------------------ 
 e)   Date of the transaction   5 August 2016 
---  ------------------------  ------------------------------------ 
 f)   Place of the              London Stock Exchange 
       transaction 
---  ------------------------  ------------------------------------ 
 6    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 10p each 
       instrument, type           ("Shares") 
       of instrument              ISIN: GB00B7N0K053 
       Identification 
       code 
---  ------------------------  ------------------------------------ 
 b)   Nature of the             Sale of Shares to cover 
       transaction               income tax and employee 
                                 national insurance following 
                                 exercise of CEO's Co-Investment 
                                 Award 
---  ------------------------  ------------------------------------ 
 c)   Price(s) and                Price(s)   Volume(s) 
       volume(s)                  ---------  ---------- 
                                   51.375p    354,062 
                                  ---------  ---------- 
---  ------------------------  ------------------------------------ 
 d)   Aggregated information    N/A 
       - Aggregated 
       volume 
       - Price 
---  ------------------------  ------------------------------------ 
 e)   Date of the transaction   5 August 2016 
---  ------------------------  ------------------------------------ 
 f)   Place of the              London Stock Exchange 
       transaction 
---  ------------------------  ------------------------------------ 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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August 08, 2016 05:25 ET (09:25 GMT)