Associated British Foods PLC

Director's Dealing • Nov 23, 2023

National Storage Mechanism | Additional information

RNS Number : 5245U

Associated British Foods PLC

23 November 2023

Associated British Foods plc

Director/PDMR Shareholdings

23 November 2023

Vesting and sale of shares

Ordinary shares of 515/22 pence in Associated British Foods plc (the 'Company'), awarded 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'), vested and were released on 20 November 2023 to the Company's Chief Executive, George Weston,  as follows: 

Director	No. of shares acquired on vesting under the LTIP Plan	No. of shares acquired on vesting under the STIP Plan
George Weston	63,063	13,484

On 21 November 2023, George Weston sold 36,086 shares at an average price of 2349.5488 p per share for the purpose of meeting his tax liabilities on the shares acquired in respect of the above.

Conditional allocation of 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 23 November 2023 under the terms of the Restricted Share Plan 2022 (RSP) and the STIP Plan (together the 'Plans'):

Director	No. of shares conditionally allocated under the RSP	No. of shares conditionally allocated under the STIP Plan
George Weston	61,293	24,517
Eoin Tonge	38,374	15,350

The allocation was made on the basis of an allocation price of 2361.6 p (being the average of the daily closing mid-market prices for the shares over the five consecutive business days 16 to 22 November 2023 inclusive) in accordance with the terms of the Plans.

The notifications for the directors 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 plc Long‐Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	63,063

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2023-11-20

f)

Place of the transaction

Outside a trading venue

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 plc Short‐Term Incentive Plan.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	13,484

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2023-11-20

f)

Place of the transaction

Outside a trading venue

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 shares to cover tax liabilities

c)

Price(s) and volume(s)

Price(s)	Volume(s)
2349.5488p	36,086

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2023-11-21

f)

Place of the transaction

London Stock Exchange (XLON)

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 Restricted Share Plan 2022, vesting in 2026, subject to certain performance underpins.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	61,293

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2023-11-23

f)

Place of the transaction

Outside a trading venue

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 2026, subject to certain performance conditions.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	24,517

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2023-11-23

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Eoin Tonge

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 Restricted Share Plan 2022, vesting in 2026, subject to certain performance underpins.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	38,374

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2023-11-23

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

Eoin Tonge

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 2026, subject to certain performance conditions.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	15,350

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2023-11-23

f)

Place of the transaction

Outside a trading venue

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