Associated British Foods PLC

Director's Dealing • Nov 23, 2021

National Storage Mechanism | Additional information

RNS Number : 2766T

Associated British Foods PLC

23 November 2021

Associated British Foods plc

Director/PDMR Shareholdings

23 November 2021

Vesting and sale of shares

Ordinary shares of 515/22 pence in Associated British Foods plc (the 'Company'), awarded under the terms of the Associated British Foods plc 2016 Long-Term Incentive Plan (the 'LTIP Plan') on 19 November 2018 and the Associated British Foods plc 2016 Short-Term Incentive Plan (the 'STIP Plan') on 19 November 2018 at an allocation price of 2517.2p per share vested and were released on 19 November 2021 to the Company's two executive directors 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	34,642	16,050
John Bason	22,882	10,602

Over the period 19 and 22 November 2021, George Weston sold 23,897 shares at an average price of 1908.5296p per share for the purpose of meeting his tax liability on the shares acquired on vesting. 

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 19 November 2021 under the terms of the LTIP Plan and 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	110,397	27,599
John Bason	74,381	18,595

The allocation was made on the basis of an allocation price of 1974.7 pence (being the average of the daily closing mid-market prices for the shares over the five consecutive business days 12 to 18 November 2021 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 details of the awards granted to each director, sale of shares and the conditional allocations.

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

ISIN: 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)
N/A	34,642

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2021-11-19

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

ISIN: 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)
N/A	16,050

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2021-11-19

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

ISIN: 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 plc Long-Term Incentive Plan and Short-Term Incentive Plan to cover tax liability.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
1908.5296p	23,897

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2021-11-22

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

ISIN: 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)
N/A	22,882

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2021-11-19

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

ISIN: 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)
N/A	10,602

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2021-11-19

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 Long-Term Incentive Plan, vesting in 2024, subject to certain performance conditions.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
1974.7p	110,397

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2021-11-19

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 2024, subject to certain performance conditions.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
1974.7p	27,599

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2021-11-19

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 Long-Term Incentive Plan, vesting in 2024, subject to certain performance conditions.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
1974.7p	74,381

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2021-11-19

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 2024, subject to certain performance conditions.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
1974.7p	18,595

d)

Aggregated information

-  Aggregated volume

-  Price

N/A

e)

Date of the transaction

[YYYY-MM-DD]

2021-11-19

f)

Place of the transaction

Outside a trading venue

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