Premier Foods PLC

Remuneration Information • Jun 7, 2019

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RNS Number : 5689B

Premier Foods plc

07 June 2019

7 June 2019                                                   

Premier Foods plc (the "Company")

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

2019 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 7 June 2019 (the "Grant Date") Alastair Murray, Acting CEO & Chief Financial Officer was granted a deferred bonus award over 219,832 shares of 10p each in the Company, under the Premier Foods Deferred Bonus Plan (the "DBP") as part of his annual bonus award for the financial year ended 30 March 2019.

The deferred bonus award is structured as a nil cost option to acquire shares for nil consideration. It 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 award and no consideration shall be payable when a deferred bonus award is exercised. 

2019 Long Term Incentive Plan Award

On 7 June 2019 (the "Grant Date") the executive director and members of the Executive Leadership Team of the Company (each a person discharging managerial responsibilities) were granted Performance Share 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 options
Alastair Murray	Acting CEO & Chief Financial Officer	1,777,623
Jette Andersen	Managing Director, International	580,865
Mark Hughes	Procurement & Central Operations Director	686,096
Simon Rose	General Counsel & Company Secretary	597,949
Alex Whitehouse	Managing Director, UK	900,341
David Wilkinson	Human Resources & Communications Director	624,430

Each Performance Share 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 seventh 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 Performance Share Awards and no consideration shall be payable when a Performance Share 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

Alastair Murray

2

Reason for the notification

a)

Position/status

Acting CEO & 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	219,832

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

7 June 2019

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Alastair Murray

2

Reason for the notification

a)

Position/status

Acting CEO & 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 a Performance Share Award under the Premier Foods plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	1,777,623

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

7 June 2019

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jette Andersen

2

Reason for the notification

a)

Position/status

Managing Director, International

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 a Performance Share Award under the Premier Foods plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	580,865

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

7 June 2019

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 a Performance Share Award under the Premier Foods plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	686,096

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

7 June 2019

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 a Performance Share Award under the Premier Foods plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	597,949

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

7 June 2019

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Alex Whitehouse

2

Reason for the notification

a)

Position/status

Managing Director, UK

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 a Performance Share Award under the Premier Foods plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	900,341

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

7 June 2019

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 & Communications 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 a Performance Share Award under the Premier Foods plc Long Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	624,430

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

7 June 2019

f)

Place of the transaction

Outside a trading venue

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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