Bakkavor Group PLC Director/PDMR Shareholding (8021D)
October 30 2020 - 9:00AM
UK Regulatory
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
+44(0)20 7908 6130
Institutional investors and analysts:
Sally Barret-Jolley, Head of Corporate Affairs +44 (0) 20 7908
6143
Media enquiries:
Tulchan Communications +44 (0) 20 7353 4200
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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END
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