TIDMPFD TIDMIRSH

RNS Number : 1764A

Premier Foods plc

25 September 2020

25 September 2020

Premier Foods plc (the "Company")

Notification of transactions by persons discharging managerial responsibilities (PDMRs) and persons closely associated

Long Term Incentive Plan 2020 - awards in respect of 2019/20

On 24 September 2020 (the "Grant Date") the following executive directors of the Company (each a person discharging managerial responsibilities) were granted awards, over ordinary shares of 10p each in the Company, under the Premier Foods Long Term Incentive Plan 2020 (the "LTIP"), as set out below.

 
 Name              Title                        Number of shares 
                                               subject to option 
 Alex Whitehouse   Chief Executive Officer               449,250 
                   ------------------------  ------------------- 
 Duncan Leggett    Chief Financial Officer               435,220 
                   ------------------------  ------------------- 
 

On appointment as CEO and acting CFO in 2019, the two executive directors were each entitled to receive an award under the LTIP for the 2019/20 financial period. However, as the Company was in a prohibited period, these awards have been delayed. The additional awards reflect their entitlement to shares as if the award had been made as originally intended. To ensure consistency with the original 2019/20 LTIP award, the same performance conditions, performance period and share price will apply. Each award is structured as a nil cost option to acquire shares for nil consideration. They will normally vest and become exercisable under the LTIP on the third anniversary of the Grant Date and remain exercisable until the day before the tenth anniversary of the Grant Date, subject to the participant continuing to hold an office or employment within the group and the achievement of two independent performance conditions. The first condition comprises of a relative total shareholder return based condition that will apply to two-thirds of the total number of shares held under an award and the second is an adjusted earnings per share based target that will apply to one-third of the total number of shares held under an award. No consideration was paid for the grant of the awards and no consideration shall be payable when an award is exercised.

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

ENQUIRIES:

For further information please contact:

Simon Rose

General Counsel & Company Secretary

+44 (0) 1727 815 850

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                        Alex Whitehouse 
     --------------------------  --------------------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------------- 
 a)   Position/status             CEO 
     --------------------------  --------------------------------------- 
 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                         213800ZD5I8XHNMCJA67 
     --------------------------  --------------------------------------- 
 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          Ordinary shares of 10p each ("Shares") 
       financial instrument,       in the capital of Premier Foods 
       type of instrument          plc 
       Identification code         ISIN: GB00B7N0K053 
     --------------------------  --------------------------------------- 
 b)   Nature of the transaction   Grant of an award (in respect of 
                                   2019/20) under the Premier Foods 
                                   plc Long Term Incentive Plan 2020 
     --------------------------  --------------------------------------- 
 c)   Price(s) and volume(s)       Price(s)    Volume(s) 
                                    Nil         449,250 
                                               ---------- 
     --------------------------  --------------------------------------- 
 d)   Aggregated information      N/A 
       - Aggregated volume 
       - Price 
     --------------------------  --------------------------------------- 
 e)   Date of the transaction     24 September 2020 
     --------------------------  --------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  --------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                        Duncan Leggett 
     --------------------------  --------------------------------------- 
 2    Reason for the notification 
     ------------------------------------------------------------------- 
 a)   Position/status             CFO 
     --------------------------  --------------------------------------- 
 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                         213800ZD5I8XHNMCJA67 
     --------------------------  --------------------------------------- 
 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          Ordinary shares of 10p each ("Shares") 
       financial instrument,       in the capital of Premier Foods 
       type of instrument          plc 
       Identification code         ISIN: GB00B7N0K053 
     --------------------------  --------------------------------------- 
 b)   Nature of the transaction   Grant of an award (in respect of 
                                   2019/20) under the Premier Foods 
                                   plc Long Term Incentive Plan 2020 
     --------------------------  --------------------------------------- 
 c)   Price(s) and volume(s)       Price(s)    Volume(s) 
                                    Nil         435,220 
                                               ---------- 
     --------------------------  --------------------------------------- 
 d)   Aggregated information      N/A 
       - Aggregated volume 
       - Price 
     --------------------------  --------------------------------------- 
 e)   Date of the transaction     24 September 2020 
     --------------------------  --------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  --------------------------------------- 
 

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END

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September 25, 2020 07:38 ET (11:38 GMT)

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