Associated British Foods PLC

Director's Dealing • Nov 25, 2020

National Storage Mechanism | Additional information

RNS Number : 5128G

Associated British Foods PLC

25 November 2020

Associated British Foods plc

Director/PDMR Shareholdings

25 November 2020

VESTING AND SALE OF STIP SHARES

Ordinary shares of 515/22 pence in Associated British Foods plc (the 'Company'), awarded under the terms of the Associated British Foods Short Term Incentive Plan on 20 November 2017 at an allocation price of 3076.2p per share vested and were released on 20 November 2020 to the Company's two executive directors as follows:

Director	No. of shares acquired on vesting
George Weston	8,378
John Bason	5,518

Over the period 20 to 23 November 2020, George Weston sold 3,950 shares at an average price of 2007.1p per share for the purpose of meeting his tax liability on the shares acquired on vesting. Over the same dates, John Bason sold 1,518 shares at an average price of 2007.1p per share, for the purpose of meeting part of his tax liability on the shares acquired on vesting.

CONDITIONAL ALLOCATION OF LTIP SHARES AND STIP SHARES

A conditional allocation of ordinary shares of 515/22 pence in the Company was made to each of the following directors of the Company on 20 November 2020 under the terms of the Associated British Foods plc 2016 Long-Term Incentive Plan (the 'LTIP Plan'), and the Associated British Foods plc 2016 Short-Term Incentive Plan (the 'STIP Plan'), (together the '2016 Plans'):

Director	No. of shares conditionally allocated under the LTIP Plan	No. of shares conditionally allocated under the STIP Plan
George Weston	107,873	26,968
John Bason	71,255	17,814

The allocation was made on the basis of an allocation price of 2020.9 pence (being the average of the daily closing mid-market prices for the shares over the five business days from Friday 13 November to Thursday 19 November 2020 inclusive) in accordance with the terms of the 2016 Plans.

The notifications for each director below, which are made in accordance with the requirements of Article 19 of the Market Abuse Regulation, provide further detail.

ASSOCIATED BRITISH FOODS PLC

DIRECTOR/PDMR SHAREHOLDING

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

George Weston

2

Reason for the notification

a)

Position/status

Chief Executive

b)

Initial notification/ Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Associated British Foods plc

b)

LEI

GBQKSY6W7G0OHCQ8OQ72

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 515/22p

GB0006731235

b)

Nature of the transaction

Acquisition of shares on the vesting and release of an award under the terms of the Associated British Foods Short Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
N/A	8,378

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2020-11-20

f)

Place of the transaction

Outside a trading venue

ASSOCIATED BRITISH FOODS PLC

DIRECTOR/PDMR SHAREHOLDING

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

George Weston

2

Reason for the notification

a)

Position/status

Chief Executive

b)

Initial notification/ Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Associated British Foods plc

b)

LEI

GBQKSY6W7G0OHCQ8OQ72

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 515/22p

GB0006731235

b)

Nature of the transaction

Sale of a proportion of the shares acquired on the vesting and release of an award under the terms of the Associated British Foods Short Term Incentive Plan to cover tax liability.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
2007.1p	3,950

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2020-11-23

f)

Place of the transaction

London Stock Exchange (XLON)

ASSOCIATED BRITISH FOODS PLC

DIRECTOR/PDMR SHAREHOLDING

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

George Weston

2

Reason for the notification

a)

Position/status

Chief Executive

b)

Initial notification/ Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Associated British Foods plc

b)

LEI

GBQKSY6W7G0OHCQ8OQ72

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 515/22p

GB0006731235

b)

Nature of the transaction

Grant of conditional award under the terms of the Associated British Foods plc "2016 Long Term Incentive Plan", vesting in 2023, subject to certain performance conditions.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
N/A	107,873

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2020-11-20

f)

Place of the transaction

Outside a trading venue

ASSOCIATED BRITISH FOODS PLC

DIRECTOR/PDMR SHAREHOLDING

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

George Weston

2

Reason for the notification

a)

Position/status

Chief Executive

b)

Initial notification/ Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Associated British Foods plc

b)

LEI

GBQKSY6W7G0OHCQ8OQ72

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 515/22p

GB0006731235

b)

Nature of the transaction

Grant of conditional award under the terms of the Associated British Foods plc "2016 Short Term Incentive Plan", vesting in 2023, subject to certain performance conditions.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
N/A	26,968

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2020-11-20

f)

Place of the transaction

Outside a trading venue

ASSOCIATED BRITISH FOODS PLC

DIRECTOR/PDMR SHAREHOLDING

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

John Bason

2

Reason for the notification

a)

Position/status

Finance Director

b)

Initial notification/ Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Associated British Foods plc

b)

LEI

GBQKSY6W7G0OHCQ8OQ72

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 515/22p

GB0006731235

b)

Nature of the transaction

Acquisition of shares on the vesting and release of an award under the terms of the Associated British Foods Short Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
N/A	5,518

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2020-11-20

f)

Place of the transaction

Outside a trading venue

ASSOCIATED BRITISH FOODS PLC

DIRECTOR/PDMR SHAREHOLDING

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

John Bason

2

Reason for the notification

a)

Position/status

Finance Director

b)

Initial notification/ Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Associated British Foods plc

b)

LEI

GBQKSY6W7G0OHCQ8OQ72

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 515/22p

GB0006731235

b)

Nature of the transaction

Sale of a proportion of the shares acquired on the vesting and release of an award under the terms of the Associated British Foods Short Term Incentive Plan to cover part of the tax liability.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
2007.1p	1,518

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2020-11-23

f)

Place of the transaction

London Stock Exchange (XLON)

ASSOCIATED BRITISH FOODS PLC

DIRECTOR/PDMR SHAREHOLDING

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

John Bason

2

Reason for the notification

a)

Position/status

Finance Director

b)

Initial notification/ Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Associated British Foods plc

b)

LEI

GBQKSY6W7G0OHCQ8OQ72

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 515/22p

GB0006731235

b)

Nature of the transaction

Grant of conditional award under the terms of the Associated British Foods plc "2016 Long Term Incentive Plan", vesting in 2023, subject to certain performance conditions.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
N/A	71,255

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2020-11-20

f)

Place of the transaction

Outside a trading venue

ASSOCIATED BRITISH FOODS PLC

DIRECTOR/PDMR SHAREHOLDING

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

John Bason

2

Reason for the notification

a)

Position/status

Finance Director

b)

Initial notification/ Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Associated British Foods plc

b)

LEI

GBQKSY6W7G0OHCQ8OQ72

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 515/22p

GB0006731235

b)

Nature of the transaction

Grant of conditional award under the terms of the Associated British Foods plc "2016 Short Term Incentive Plan", vesting in 2023, subject to certain performance conditions.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
N/A	17,814

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2020-11-20

f)

Place of the transaction

Outside a trading venue

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