Premier Foods plc Director/PDMR Shareholding (1764A)
September 25 2020 - 7:38AM
UK Regulatory
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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