TIDMPMP
RNS Number : 9448O
Portmeirion Group PLC
22 May 2018
22 May 2018
Portmeirion Group PLC
(the "Company")
Exercise of Options and PDMR Shareholdings
The Portmeirion 2012 Approved Share Option Plan and The
Portmeirion 2012 Unapproved Share Option Plan (the "Option Plans")
and The Portmeirion Group 2010 Deferred Incentive Share Option Plan
(the "Deferred Plan")
The Company announces that, on 21 and 22 May 2018, the following
transactions occurred for the persons discharging managerial
responsibilities ("PDMRs") as shown below:
Option Number Number Option Deferred Exercise Deferred
Plans of of Ordinary Plans Plan Price Plan
Exercise options Shares number number over existing
Price exercised sold options options Deferred options
per under under granted granted Plan exercised
Ordinary Option Option (C) (D) options (E)
Share Plans Plans
(A) (B)
Company directors/officers:
Group Sales &
Philip Atherton Marketing Director GBP9.35 33,000 29,517 25,000 2,792 GBP1.00 1,102
Lawrence
Bryan Chief Executive GBP9.35 49,500 99,500 40,000 6,940 GBP1.00 2,034
Michael Knapper Operations Director GBP9.35 11,000 9,826 25,000 1,750 GBP1.00 -
Moira MacDonald Company Secretary GBP9.35 4,400 3,860 7,500 - - -
Group Finance
Michael Raybould Director - - - 30,000 2,917 GBP1.00 -
Subsidiary Company directors:
Samantha
Pearce HR Director GBP9.35 4,400 4,300 7,500 - - -
Nigel Spencer Production Director GBP6.10 8,121 8,121 7,500 - - -
Nigel Spencer Production Director GBP7.40 7,667 7,667 - - - -
--------- ---------- ------------ -------- -------- --------- ----------
Total: 118,088 162,791 142,500 14,399 3,136
Note:
(A) Exercise of options over Ordinary Shares under Option Plans.
(B) Sale of Ordinary Shares.
(C) Grant of options under Option Plans.
(D) Grant of new options under Deferred Plan.
(E) Exercise of existing options under the Deferred Plan.
Subsequent to the exercises above, The Portmeirion Employees'
Share Trust (the "Trust"), transferred 102,300 Ordinary Shares to
the PDMRs named above (excluding Nigel Spencer) and 18,700 Ordinary
Shares to other employees. In addition, the Company issued 15,788
Ordinary Shares to Nigel Spencer and 1,591 Ordinary Shares to
another employee. As a result of the exercise of Deferred Plan
options detailed above, the Company transferred 3,136 Ordinary
Shares from the Ordinary Shares held in treasury by the
Company.
In addition, the Company granted 142,500 options over Ordinary
Shares to the PDMR's shown above and a further 52,500 options over
Ordinary Shares to other senior managers over Ordinary Shares
pursuant to the Option Plans, including the amounts shown
above.
The Trust has notified the Company that the Trust purchased
99,500 Ordinary Shares from Lawrence Bryan at GBP11.85 per Ordinary
Share on 21 May 2018 and a further 83,582 Ordinary Shares in the
market at GBP11.80 on 22 May 2018. Following the purchases the
Trust will hold 214,999 Ordinary Shares representing 1.98% of the
Company's enlarged share capital.
In order to facilitate the transactions above, the Company has
made an application to the London Stock Exchange for, 20,515 new
Ordinary Shares to be admitted to trading on AIM and trading of
these Ordinary Shares is expected to commence on or around 29 May
2018 ("Admission").
Following Admission, the total number of Ordinary Shares held by
the Company in treasury is 234,607, and the Company will have
11,107,483 Ordinary Shares in issue and 10,872,876 Ordinary Shares
with voting rights. The figure of 10,872,876 Ordinary Shares may be
used by shareholders of Portmeirion Group PLC as the denominator
for the calculations to determine if they are required to notify
their interest in, or a change to their interest in, the Company
under the FCA's Disclosure and Transparency Rules.
PDMR Shareholdings
The total number of Ordinary Shares over which each PDMR holds
options and the total number of Ordinary Shares with voting rights
held following this Admission is:
Total Total Ordinary
number number Shares percentage
of options of of Company's
over Ordinary Ordinary Ordinary
Shares Shares Shares with
with voting rights
voting
rights
Philip Atherton 54,157 15,134 0.14%
Lawrence Bryan 89,800 95,701 0.88%
Michael Raybould 62,917 - -
Michael Knapper 46,750 2,511 0.02%
Moira MacDonald 15,000 2,693 0.02%
Samantha Pearce 15,000 100 0.00%
Nigel Spencer 33,667 - -
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014 (MAR).
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation, provides further detail.
_____________________________________________
Notification and public disclosure of transactions by persons
discharging managerial responsibilities / person closely associated
with them.
1. Details of the person discharging managerial
responsibilities/person closely associated
--- ----------------------------------------------------------------------------------------------
a) Name Company directors/officers:
---------------------------------------
Group Sales &
Philip Atherton Marketing Director
----------------- --------------------
Lawrence Chief Executive
Bryan
----------------- --------------------
Michael Knapper Operations Director
----------------- --------------------
Moira MacDonald Group Company
Secretary
----------------- --------------------
Michael Raybould Group Finance
Director
----------------- --------------------
Subsidiary Company directors:
---------------------------------------
Samantha HR Director
Pearce
----------------- --------------------
Nigel Spencer Production Director
----------------- --------------------
--- ------------------------------- -------------------------------------------------------------
2. Reason for the notification
--- ----------------------------------------------------------------------------------------------
a) Position/status See 1(a) above for all positions
- all classified as PDMRs
of the Company
--- ------------------------------- -------------------------------------------------------------
b) Initial notification/Amendment Initial Notification
--- ------------------------------- -------------------------------------------------------------
3. Details of the issuer, emission allowance market
participant, auction platform, auctioneer or
auction monitor
--- ----------------------------------------------------------------------------------------------
a) Name Portmeirion Group PLC
--- ------------------------------- -------------------------------------------------------------
b) LEI 2138003QC9J6TLZJHO70
--- ------------------------------- -------------------------------------------------------------
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 5 pence
financial instrument each
--- ------------------------------- -------------------------------------------------------------
b) Identification code GB0006957293
--- ------------------------------- -------------------------------------------------------------
c) Nature of the transactions (A) Exercise of options
over Ordinary Shares under
The Portmeirion 2012 Approved
Share Option Plan and The
Portmeirion 2012 Unapproved
Share Option Plan (the "Option
Plans").
(B) Sale of Ordinary Shares.
(C) Performance related,
Grant of options under Option
Plans. Exercise period 23
May 2021 - 21 May 2028.
(D) Grant of new options
under The Portmeirion Group
2010 Deferred Incentive
Share Option Plan (the "Deferred
Plan").
(E) Exercise of Existing
options under the Deferred
Plan.
--- ------------------------------- -------------------------------------------------------------
d) Price(s) and volume(s) In respect of (A) Exercise
of options over Ordinary
Shares under the Option
Plans
Price
Exercise price of 610 pence
per Ordinary Share for options
granted on 2 May 2013, 740
pence per Ordinary Share
for options granted on 30
April 2014 and 935 pence
per Ordinary Share for options
granted on 27 April 2015.
Volume(s)
Philip Atherton - Options
over 33,000 Ordinary Shares
at 935 pence per Ordinary
Share.
Lawrence Bryan - Options
over 49,500 Ordinary Shares
at 935 pence per Ordinary
Share.
Michael Knapper - Options
over 11,000 Ordinary Shares
at 935 pence per Ordinary
Share.
Moira MacDonald - Options
over 4,400 Ordinary Shares
at 935 pence per Ordinary
Share.
Samantha Pearce - Options
over 4,400 Ordinary Shares
at 935 pence per Ordinary
Share.
Nigel Spencer - Options
over 8,121 Ordinary Shares
at 610 pence per Ordinary
Share.
Nigel Spencer - Options
over 7,667 Ordinary Shares
at 740 pence per Ordinary
Share.
In respect of (B) Sale of
Ordinary Shares Price Volume
of Ordinary
Shares
----------------- ---------- -------------
Philip Atherton GBP11.80 29,517
----------------- ---------- -------------
Lawrence
Bryan GBP11.85 99,500
----------------- ---------- -------------
Michael Knapper GBP11.80 9,826
----------------- ---------- -------------
Moira MacDonald GBP11.80 3,860
----------------- ---------- -------------
Samantha
Pearce GBP11.80 4,300
----------------- ---------- -------------
Nigel Spencer GBP11.80 15,788
----------------- ---------- -------------
In respect of (C) Grant
of options under Option
Plans
Price at grant: Nil
Exercise Price: GBP11.80
pence per Ordinary Share
Volume(s) Options
over
Ordinary
Shares
------------------ ----------
Philip Atherton 25,000
------------------ ----------
Lawrence
Bryan 40,000
------------------ ----------
Michael Raybould 30,000
------------------ ----------
Michael Knapper 25,000
------------------ ----------
Moira MacDonald 7,500
------------------ ----------
Samantha
Pearce 7,500
------------------ ----------
Nigel Spencer 7,500
------------------ ----------
In respect of (D) Grant
of options under Deferred
Plan
Price at grant: Nil
Exercise price of GBP1.00
per all 2,792 Deferred Plan
options over Ordinary Shares
granted to Philip Atherton.
Exercise price of GBP1.00
per all 6,940 Deferred Plan
options over Ordinary Shares
granted to Lawrence Bryan.
Exercise price of GBP1.00
per all 2,917 Deferred Plan
options over Ordinary Shares
granted to Michael Raybould.
Exercise price of GBP1.00
per all 1,750 Deferred Plan
options over Ordinary Shares
granted to Michael Knapper.
In respect of (E) Exercise
of options under the Deferred
Plan
Exercise price of GBP1.00
per all 1,102 Deferred Plan
options over Ordinary Shares
exercised by Philip Atherton.
Exercise price of GBP1.00
per all 2,034 Deferred Plan
options over Ordinary Shares
exercised by Lawrence Bryan.
--- ------------------------------- -------------------------------------------------------------
e) Aggregated information In respect of (A) Exercise
* Aggregated volume of options over Ordinary
Shares under the Option
Plans Aggregated
* Price cost of exercise
---------------- ------------------
Philip Atherton GBP308,550
---------------- ------------------
Lawrence Bryan GBP462,825
---------------- ------------------
Michael Knapper GBP102,850
---------------- ------------------
Moira MacDonald GBP41,140
---------------- ------------------
Samantha Pearce GBP41,140
---------------- ------------------
Nigel Spencer GBP106,274
---------------- ------------------
In respect of (B) Sale of
Ordinary Shares Aggregated
sales proceeds
---------------- ----------------
Philip Atherton GBP348,301
---------------- ----------------
Lawrence Bryan GBP1,179,075
---------------- ----------------
Michael Knapper GBP115,947
---------------- ----------------
Moira MacDonald GBP45,548
---------------- ----------------
Samantha Pearce GBP50,740
---------------- ----------------
Nigel Spencer GBP186,298
---------------- ----------------
In respect of (C) Grant
of options under Option
Plans
Nil, grant of options only
In respect of (D) Grant
of options under Deferred
Plan
Nil, grant of options only
In respect of (E) Exercise
of options under the Deferred
Plan
GBP1.00
GBP1.00
--- ------------------------------- -------------------------------------------------------------
f) Date of the transactions
In respect of (A) Exercise
of options over Ordinary
Shares under the Option
Plans - 21 May 2018 for
the Exercise of options
by Lawrence Bryan; 22 May
2018 for all other PDMRs
and employees.
In respect of (B) Sale of
Ordinary Shares - 21 May
2018 for the sale by Lawrence
Bryan; 22 May 2018 for all
other PDMRs.
In respect of (C) Grant
of options under Option
Plans - 22 May 2018
In respect of (D) Grant
of options under Deferred
Plan - 21 May 2018
In respect of (E) Exercise
of options under the Deferred
Plan - 21 May 2018
--- ------------------------------- -------------------------------------------------------------
f) Place of the transactions In respect of (A) Exercise
of options over Ordinary
Shares under the Option
Plans - Off-market
In respect of (B) Sale of
Ordinary Shares - Combination
of Off-market and London
Stock Exchange, AIM Market
(XLON)
In respect of (C) Grant
of options under Option
Plans - - Off-market
In respect of (D) Grant
of options under Deferred
Plan - Off-market
In respect of (E) Exercise
of options under the Deferred
Plan - Off-market
--- ------------------------------- -------------------------------------------------------------
Name of authorised official of issuer responsible for making
notification:
Moira MacDonald
Company Secretary to Portmeirion Group PLC
ENQUIRIES:
Portmeirion Group PLC:
Dick Steele +44 (0) 1782 744 721 steele_clan@msn.com
Non-executive Chairman
Mike Raybould +44 (0) 1782 744 721 mraybould@portmeiriongroup.com
Group Finance Director
Hudson Sandler:
Dan de Belder +44 (0) 207 796 4133
ddebelder@hudsonsandler.com
Nick Moore nmoore@hudsonsandler.com
Panmure Gordon:
(Nominated Adviser and Broker): +44 (0) 207 886 2500
Freddy Crossley/ Ryan McCarthy Corporate Finance
James Stearns Corporate Broking
Cantor Fitzgerald Europe:
(Joint Broker): +44 (0) 207 894 7000
Catherine Leftley /Marc Milmo Corporate Finance
Alex Pollen Sales
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END
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