Bakkavor Group plc
Transaction by PDMRS
12 April 2024
Bakkavor Group
plc
(the 'Company' or
'Bakkavor')
Notification and public
disclosure of transaction by PDMR
Bakkavor Group plc (LON: BAKK)
announces that on 11 April 2024 ordinary shares of 2 pence each in
the Company ('Shares') were acquired by the following persons
discharging managerial responsibilities ('PDMR') in connection with
the exercise of vested awards ('Awards') held under the Company's
long term incentive plans.
The Awards were settled partly in
Shares and partly in cash. The cash element solely to meet the
income tax and employees' national insurance liability associated
with the exercise ('Tax Liability'). Save where otherwise stated
below, the Awards were nil cost options.
Summary details as
follows:
|
PDMR
|
Award
|
Number of Shares under the
Award(s)
|
Number of Shares withheld and cash
settled at £1.135 per Share to meet Tax Liability
|
Number of Shares acquired on
exercise of Award(s)
|
|
Mike Edwards
|
2017, 2018, 2019 and 2020 LTIP
Awards
|
2,048,524
|
962,807
|
1,085,717
|
|
Ben Waldron
|
2020 LTIP Award
|
376,471
|
176,942
|
199,529
|
|
Ben Waldron
|
2017 LTIP Award with an exercise
price of 76.4p per Share
|
134,162 before gain
settlement
|
20,610
|
23,243
|
|
Donna-Maria Lee
|
2018, 2019 and 2020 LTIP
Awards
|
260,045
|
122,222
|
137,823
|
|
Shona Taylor
|
2020 LTIP Award
|
208,361
|
97,930
|
110,431
|
|
Shona Taylor
|
2017 LTIP Award with an exercise
price of 76.4p per Shares
|
88,350 before gain
settlement
|
13,572
|
15,306
|
|
Lee Miley
|
2020 LTIP Award
|
183,974
|
86,468
|
97,506
|
The information set out below is
provided in accordance with the requirements of Article 19(3) of
the UK Market Abuse Regulation.
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Mike Edwards
|
|
2
|
Reason for Notification
|
|
a)
|
Position/status
|
CEO
|
|
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
instrument, type of instrument
Identification code
|
Ordinary shares of 2 pence each in
Bakkavor Group plc
GB00BF8J3Z99
|
|
b)
|
Nature of the transaction
|
1. Shares acquired for nil
consideration on the exercise of vested nil cost options held under
the Company's LTIP and relating to the Share settled portions of
such exercises.
2. Number of reference Shares cash
settled (at £1.135 per Share) on the exercise of nil cost options
held under the Company's LTIPs and relating to the cash settled
portions of such exercises (to cover Tax Liability).
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
1. Nil
2. Nil
|
1. 1,085,717
2. 962,807*
|
*£1.135 per Share cash
settled.
|
|
d)
|
Aggregated information
- Aggregated
volume
- Price
|
Not applicable - single
transaction
|
|
e)
|
Date of the transaction
|
11 April 2024
|
|
f)
|
Place of the transaction
|
Outside of a trading
venue
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Ben Waldron
|
|
2
|
Reason for Notification
|
|
a)
|
Position/status
|
CFO & Asia CEO
|
|
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
instrument, type of instrument
Identification code
|
Ordinary shares of 2 pence each in
Bakkavor Group plc
GB00BF8J3Z99
|
|
b)
|
Nature of the transaction
|
1. Shares acquired for nil
consideration on the exercise of a vested nil cost option held
under the Company's LTIP and relating to the Share settled portion
of such exercise.
2. Number of reference Shares cash
settled (at £1.135 per Share) on the exercise of a nil cost option
held under the Company's LTIP and relating to the cash settled
portion of such exercise (to cover Tax Liability).
3. Shares acquired on the exercise
of a vested option held under the Company's pre-IPO LTIP and
relating to the Share settled portion of such exercise. The option
was gain settled by reference to a released option price of 76.4p
per share.
4. Number of reference Shares cash
settled (at £1.135 per Share) on the exercise of a vested option
held under the Company's pre-IPO LTIP and relating to the cash
settled portion of such exercise (to cover Tax Liability). The
option was gain settled by reference to a released option price of
76.4p per share.
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
1. Nil
2. Nil
3. Nil
4. Nil
|
1. 199,529
2. 176,942*
3. 23,243
4. 20,610*
|
*£1.135 per Share cash
settled.
|
|
d)
|
Aggregated information
- Aggregated
volume
- Price
|
Not applicable - single
transaction
|
|
e)
|
Date of the transaction
|
11 April 2024
|
|
f)
|
Place of the transaction
|
Outside of a trading
venue
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Donna-Maria Lee
|
|
2
|
Reason for Notification
|
|
a)
|
Position/status
|
CPO
|
|
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
instrument, type of instrument
Identification code
|
Ordinary shares of 2 pence each in
Bakkavor Group plc
GB00BF8J3Z99
|
|
b)
|
Nature of the transaction
|
1. Shares acquired for nil
consideration on the exercise of vested nil cost options held under
the Company's LTIP and relating to the Share settled portions of
such exercises.
2. Number of reference Shares cash
settled (at £1.135 per Share) on the exercise of nil cost options
held under the Company's LTIPs and relating to the cash settled
portions of such exercises (to cover Tax Liability).
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
1. Nil
2. Nil
|
1. 137,823
2. 122,222*
|
*£1.135 per Share cash
settled.
|
|
d)
|
Aggregated information
- Aggregated
volume
- Price
|
Not applicable - single
transaction
|
|
e)
|
Date of the transaction
|
11 April 2024
|
|
f)
|
Place of the transaction
|
Outside of a trading
venue
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Shona Taylor
|
|
2
|
Reason for Notification
|
|
a)
|
Position/status
|
Managing Director
|
|
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
instrument, type of instrument
Identification code
|
Ordinary shares of 2 pence each in
Bakkavor Group plc
GB00BF8J3Z99
|
|
b)
|
Nature of the transaction
|
1. Shares acquired for nil
consideration on the exercise of a vested nil cost option held
under the Company's LTIP and relating to the Share settled portions
of such exercise.
2. Number of reference Shares cash
settled (at £1.135 per Share) on the exercise of a nil cost option
held under the Company's LTIP and relating to the cash settled
portion of such exercise (to cover Tax Liability).
3. Shares acquired on the exercise
of a vested option held under the Company's pre-IPO LTIP and
relating to the Share settled portion of such exercise. The option
was gain settled by reference to a released option price of 76.4p
per share.
4. Number of reference Shares cash
settled (at £1.135 per Share) on the exercise of a vested option
held under the Company's pre-IPO LTIP and relating to the cash
settled portion of such exercise (to cover Tax Liability). The
option was gain settled by reference to a released option price of
76.4p per share.
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
1. Nil
2. Nil
3. Nil
4. Nil
|
1. 110,431
2. 97,930*
3. 15,306
4. 13,572*
|
*£1.135 per Share cash
settled.
|
|
d)
|
Aggregated information
- Aggregated
volume
- Price
|
Not applicable - single
transaction
|
|
e)
|
Date of the transaction
|
11 April 2024
|
|
f)
|
Place of the transaction
|
Outside of a trading
venue
|
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Lee Miley
|
|
2
|
Reason for Notification
|
|
a)
|
Position/status
|
UK Finance Director
|
|
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
instrument, type of instrument
Identification code
|
Ordinary shares of 2 pence each in
Bakkavor Group plc
GB00BF8J3Z99
|
|
b)
|
Nature of the transaction
|
1. Shares acquired for nil
consideration on the exercise of a vested nil cost option held
under the Company's LTIP and relating to the Share settled portion
of such exercise.
2. Number of reference Shares cash
settled (at £1.135 per Share) on the exercise of a nil cost option
held under the Company's LTIPs and relating to the cash settled
portion of such exercise (to cover Tax Liability).
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
1. Nil
2. Nil
|
1. 97,506
2. 86,468
|
*£1.135 per Share cash
settled.
|
|
d)
|
Aggregated information
- Aggregated
volume
- Price
|
Not applicable - single
transaction
|
|
e)
|
Date of the transaction
|
11 April 2024
|
|
f)
|
Place of the transaction
|
Outside of a trading
venue
|
ENQUIRIES
Institutional investors and analysts:
Ben Waldron, Chief Financial
Officer
Richard Wooldridge, Interim Head of
Investor Relations
+44
(0) 20 7908 6114
Annabel Tagoe-Bannerman, Group
General Counsel & Company
Secretary
+44
(0) 20 7908 6130
Financial media: bakkavor@mhpgroup.com
Katie Hunt, MHP
+44 (0)
20 3128 8100
+44
(0) 7884 494 112
Rachel Farrington,
MHP
+44
(0) 7801 894 577
Oliver Hughes, MHP
+44 (0) 7885 224
532
About Bakkavor
We are the leading provider of fresh
prepared food in the UK, and our presence in the US and China
positions the Group well in these high-growth markets. We leverage
our consumer insight and scale to provide innovative food that
offers quality, choice, convenience, and freshness. Around 18,000
colleagues operate from 44 sites across our three markets,
supplying a portfolio of over 3,000 products across meals, pizza
& bread, salads and desserts to leading grocery retailers in
the UK and US, and international food brands in China. Find out
more at www.bakkavor.com.
LEI number:
213800COL7AD54YU9949