Bakkavor Group PLC — Director's Dealing 2018

Apr 10, 2018

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RNS Number : 4426K

Bakkavor Group PLC

10 April 2018

10 April 2018

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs") AND PERSONS CLOSELY ASSOCIATED WITH THEM IN ACCORDANCE WITH THE MARKET ABUSE REGULATIONS

On 9 April 2018 the following awards over ordinary shares of 2 pence in Bakkavor Group plc were granted under the Bakkavor Group plc Long Term Incentive Plan to the following PDMRs:

PDMR	No. of shares under Award	Type of Award
Peter Gates	399,372	Performance Share Award
Michael Edwards	162,770	Performance Share Award
Michael Edwards	81,385	Restricted Share Award
Pippa Greenslade	76,966	Performance Share Award
Pippa Greenslade	38,483	Restricted Share Award
Einar Gustafsson	104,851	Performance Share Award
Einar Gustafsson	52,425	Restricted Share Award
Ivan Clingan	89,367	Performance Share Award
Ivan Clingan	44,683	Restricted Share Award

The awards will ordinarily become exercisable (or vest as relevant) on the third anniversary of grant subject to the grantee's continued service and, in the case of the Performance Share Awards, only to the extent to which the adjusted earnings per share and total shareholder return performance conditions set for the award are satisfied.

Details of the full notifications received by Bakkavor Group plc are set out below.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Peter Gates

2

Reason for 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

Bakkavor Group plc

b)

LEI

213800COL7AD54YU9949

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 2 pence each in Bakkavor Group plc

GB00BF8J3Z99

b)

Nature of the transaction

Grant of a nil cost option award under the Bakkavor Group plc Long Term Incentive Plan. The award will ordinarily become exercisable three years from the date of grant, subject to continued service and to the extent to which the adjusted earnings per share and total shareholder return performance conditions are met, and once exercisable may be ordinarily exercised at any point up until the tenth anniversary of the date of grant.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	399,372 Performance Share Award

d)

Aggregated information

-     Aggregated volume

-     Price

Not applicable - single transaction

e)

Date of the transaction

9 April 2018

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Michael Edwards

2

Reason for Notification

a)

Position/status

Chief Operating Officer, UK

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

Bakkavor Group plc

b)

LEI

213800COL7AD54YU9949

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 2 pence each in Bakkavor Group plc

GB00BF8J3Z99

b)

Nature of the transaction

Grant of nil cost option awards under the Bakkavor Group plc Long Term Incentive Plan. One award is a Performance Share Award and the other a Restricted Share Award both of which will ordinarily become exercisable three years from the date of grant, subject to continued service and once exercisable may ordinarily be exercised at any point up until the tenth anniversary of the date of grant. The Performance Share Award will only vest to the extent to which the adjusted earnings per share and total shareholder return performance conditions are met. No performance conditions apply to the Restricted Share Award.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil Nil	162,770 Performance Share Award 81,385 Restricted Share Award

d)

Aggregated information

-     Aggregated volume

-     Price

244,155

Nil

e)

Date of the transaction

9 April 2018

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Pippa Greenslade

2

Reason for Notification

a)

Position/status

Group 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

Bakkavor Group plc

b)

LEI

213800COL7AD54YU9949

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 2 pence each in Bakkavor Group plc

GB00BF8J3Z99

b)

Nature of the transaction

Grant of nil cost option awards under the Bakkavor Group plc Long Term Incentive Plan. One award is a Performance Share Award and the other a Restricted Share Award both of which will ordinarily become exercisable three years from the date of grant, subject to continued service and once exercisable may ordinarily be exercised at any point up until the tenth anniversary of the date of grant. The Performance Share Award will only vest to the extent to which the adjusted earnings per share and total shareholder return performance conditions are met. No performance conditions apply to the Restricted Share Award.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil Nil	76,966 Performance Share Award 38,483 Restricted Share Award

d)

Aggregated information

-     Aggregated volume

-     Price

115,449

Nil

e)

Date of the transaction

9 April 2018

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Einar Gustafsson

2

Reason for Notification

a)

Position/status

Managing Director - Bakkavor China

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

Bakkavor Group plc

b)

LEI

213800COL7AD54YU9949

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 2 pence each in Bakkavor Group plc

GB00BF8J3Z99

b)

Nature of the transaction

Grant of conditional awards under the Bakkavor Group plc Long Term Incentive Plan. One award is a Performance Share Award and the other a Restricted Share Award both of which will ordinarily vest three years from the date of grant, subject to continued service. The Performance Share Award will only vest subject to the extent to which the adjusted earnings per share and total shareholder return performance conditions are met. No performance conditions apply to the Restricted Share Award.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil Nil	104,851 Performance Share Award 52,425 Restricted Share Award

d)

Aggregated information

-     Aggregated volume

-     Price

157,276

Nil

e)

Date of the transaction

9 April 2018

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Ivan Clingan

2

Reason for Notification

a)

Position/status

President and Chief Executive Officer of Bakkavor USA

b)

Initial notification/Amendment

Initial notification

3

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

a)

Name

Bakkavor Group plc

b)

LEI

213800COL7AD54YU9949

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 2 pence each in Bakkavor Group plc

GB00BF8J3Z99

b)

Nature of the transaction

Grant of conditional awards under the Bakkavor Group plc Long Term Incentive Plan. One award is a Performance Share Awards and the other a Restricted Share Award both of which will ordinarily vest three years from the date of grant, subject to continued service. The Performance Share Award will only vest to the extent to which the adjusted earnings per share and total shareholder return performance conditions are met. There are no performance conditions applying to Restricted Share Award.

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil Nil	89,367 Performance Share Award 44,683 Restricted Share Award

d)

Aggregated information

-     Aggregated volume

-     Price

134,050

Nil

e)

Date of the transaction

9 April 2018

f)

Place of the transaction

Outside a trading venue

-Ends-

Enquiries

Company Secretarial:

Simon Witham, General Counsel and Company Secretary                                    +44 (0) 20 7908 6142

Institutional investors and analysts:

Tamarin Bibow, Head of Investor Relations                                                           +44 (0) 20 7908 6143

Media enquiries:

Tulchan Communications                                                                                   +44 (0) 20 7353 4200

Susanna Voyle, Will Smith, Jessica Reid

About Bakkavor

Bakkavor is the leading provider in the large and fast-growing UK Fresh Prepared Food ("FPF") market, which consists of the four categories of Meals, Salads, Desserts and Pizza & Bread, and has a growing international presence in the US and China.

In the UK the Group is the number one producer by market share in all four FPF categories, supplying all of the UK's leading grocery retailers, including Tesco, M&S, Sainsbury's and Waitrose.

The International segment has operations in the US and China, supplying both retail and foodservice customers.

LEI number: 213800COL7AD54YU9949

This information is provided by RNS

The company news service from the London Stock Exchange

END

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