Premier Foods PLC

Remuneration Information • Jun 9, 2023

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RNS Number : 2951C

Premier Foods plc

09 June 2023

9 June 2023                                                                        

Premier Foods plc (the "Company")

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

2023 Deferred Bonus Plan Award

Pursuant to the Company's shareholder-approved Remuneration Policy, one-third of any annual bonus awarded to executive directors is delivered in the form of shares deferred for a three-year period. On 8 June 2023 (the "Grant Date"), executive directors of the Company were granted deferred bonus awards, over shares of 10p each in the Company, under the Premier Foods Deferred Bonus Plan (the "DBP") as part of their annual bonus award for the financial year ended 1 April 2023.

Name	Title	Number of shares subject to option
Alex Whitehouse	Chief Executive Officer	165,616
Duncan Leggett	Chief Financial Officer	90,926

Each deferred bonus award is structured as a nil cost option to acquire shares for nil consideration. They will normally vest and become exercisable under the DBP on the third anniversary of the Grant Date and remain exercisable until the tenth anniversary of the Grant Date. No consideration was paid for the grant of the deferred bonus awards and no consideration shall be payable when a deferred bonus award is exercised. 

2023/24 Long Term Incentive Plan Award

On 8 June 2023 (the "Grant Date"), the executive directors and members of the Executive Leadership Team 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 (the "LTIP"), as set out below.

Name	Title	Number of shares subject to option
Alex Whitehouse	Chief Executive Officer	603,403
Duncan Leggett	Chief Financial Officer	276,066
Hannah Collyer	Corporate Affairs & ESG Director	145,921
Yilmaz Erceyes	Chief Marketing Officer	193,058
Mark Hughes	Procurement & Central Operations Director	203,673
Richard Martin	Chief Customer Officer	193,058
Simon Rose	General Counsel & Company Secretary	187,800
Paul Thompson	Operations Director	199,068
David Wilkinson	Human Resources Director	196,627

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 50% 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 50% 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. Subject to shareholder approval of the 2023 Directors' Remuneration Policy at the AGM on 20 July 2023, a further award will be made to executive directors following the meeting to reflect their increased LTIP opportunities. Details of the 2023/24 LTIP award and the 2023 Directors' Remuneration Policy are set out in the Company's annual report, which can be viewed on the Group's website (www.premierfoods.co.uk).

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

Chief Executive Officer

b)

Initial notification /Amendment

Initial notification

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 financial instrument, type of instrument

Identification code

Ordinary shares of 10p each ("Shares") in the capital of Premier Foods plc

ISIN: GB00B7N0K053

b)

Nature of the transaction

Grant of award under the Premier Foods plc Deferred Bonus Plan

c)

Price(s) and volume(s)

z

Price(s)	Volume(s)
Nil	165,616

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

8 June 2023

f)

Place of the transaction

Outside a trading venue

5

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 10p each ("Shares") in the capital of Premier Foods plc

ISIN: GB00B7N0K053

b)

Nature of the transaction

Grant of award under the Premier Foods plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	603,403

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

8 June 2023

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

Chief Financial Officer

b)

Initial notification /Amendment

Initial notification

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 financial instrument, type of instrument

Identification code

Ordinary shares of 10p each ("Shares") in the capital of Premier Foods plc

ISIN: GB00B7N0K053

b)

Nature of the transaction

Grant of award under the Premier Foods plc Deferred Bonus Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	90,926

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

8 June 2023

f)

Place of the transaction

Outside a trading venue

5

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 10p each ("Shares") in the capital of Premier Foods plc

ISIN: GB00B7N0K053

b)

Nature of the transaction

Grant of award under the Premier Foods plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	276,066

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

8 June 2023

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Hannah Collyer

2

Reason for the notification

a)

Position/status

Corporate Affairs & ESG Director

b)

Initial notification /Amendment

Initial notification

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 financial instrument, type of instrument

Identification code

Ordinary shares of 10p each ("Shares") in the capital of Premier Foods plc

ISIN: GB00B7N0K053

b)

Nature of the transaction

Grant of award under the Premier Foods plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	145,921

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

8 June 2023

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Yilmaz Erceyes

2

Reason for the notification

a)

Position/status

Chief Marketing Officer

b)

Initial notification /Amendment

Initial notification

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 financial instrument, type of instrument

Identification code

Ordinary shares of 10p each ("Shares") in the capital of Premier Foods plc

ISIN: GB00B7N0K053

b)

Nature of the transaction

Grant of award under the Premier Foods plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	193,058

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

8 June 2023

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mark Hughes

2

Reason for the notification

a)

Position/status

Procurement & Central Operations Director

b)

Initial notification /Amendment

Initial notification

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 financial instrument, type of instrument

Identification code

Ordinary shares of 10p each ("Shares") in the capital of Premier Foods plc

ISIN: GB00B7N0K053

b)

Nature of the transaction

Grant of award under the Premier Foods plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	203,673

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

8 June 2023

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Richard Martin

2

Reason for the notification

a)

Position/status

Chief Customer Officer

b)

Initial notification /Amendment

Initial notification

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 financial instrument, type of instrument

Identification code

Ordinary shares of 10p each ("Shares") in the capital of Premier Foods plc

ISIN: GB00B7N0K053

b)

Nature of the transaction

Grant of award under the Premier Foods plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	193,058

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

8 June 2023

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Simon Rose

2

Reason for the notification

a)

Position/status

General Counsel & Company Secretary

b)

Initial notification /Amendment

Initial notification

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 financial instrument, type of instrument

Identification code

Ordinary shares of 10p each ("Shares") in the capital of Premier Foods plc

ISIN: GB00B7N0K053

b)

Nature of the transaction

Grant of award under the Premier Foods plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	187,800

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

8 June 2023

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Paul Thompson

2

Reason for the notification

a)

Position/status

Operations Director

b)

Initial notification /Amendment

Initial notification

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 financial instrument, type of instrument

Identification code

Ordinary shares of 10p each ("Shares") in the capital of Premier Foods plc

ISIN: GB00B7N0K053

b)

Nature of the transaction

Grant of award under the Premier Foods plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	199,068

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

8 June 2023

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

David Wilkinson

2

Reason for the notification

a)

Position/status

Human Resources Director

b)

Initial notification /Amendment

Initial notification

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 financial instrument, type of instrument

Identification code

Ordinary shares of 10p each ("Shares") in the capital of Premier Foods plc

ISIN: GB00B7N0K053

b)

Nature of the transaction

Grant of award under the Premier Foods plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	196,627

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

8 June 2023

f)

Place of the transaction

Outside a trading venue

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