Remuneration Information • May 4, 2020
Remuneration Information
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RNS Number : 8327L
Portmeirion Group PLC
04 May 2020
4 May 2020
Portmeirion Group PLC
(the "Company")
Executive Share Option Grants
The Company announces that, on 4 May 2020, it granted options to Directors and senior managers over a total of 200,500 ordinary shares of 5 pence each in the Company ("Ordinary Shares") pursuant to The Portmeirion 2012 Approved Share Option Plan and The Portmeirion 2012 Unapproved Share Option Plan (the "2012 Plans").
The options are subject to the achievement of performance criteria as determined by the Remuneration Committee, and as required under the 2012 Plans. The options granted on 4 May 2020 are normally only exercisable if the increase in the average of the Group's basic adjusted earnings per share (as adjusted for changes in accounting standards and exceptional items) for each of the two years ending 31 December 2021 and 31 December 2022 is at least 10% higher than that for the year ended 31 December 2019. The exercise price of the options is in reference to the closing middle market price of an Ordinary Share on 1 May 2020, being the latest date prior to the grant. Of the total number of options granted, 160,500 options over Ordinary Shares were granted to persons discharging managerial responsibilities ("PDMRs") of the Company, as detailed below:
| Number options granted | Exercise price per Ordinary Share | Exercise period | ||
| Company directors/officers: | ||||
| Philip Atherton | Group Sales & Marketing Director | 21,000 | £4.46 | 5 May 2023 - 3 May 2030 |
| Michael Raybould | Chief Executive | 40,000 | £4.46 | 5 May 2023 - 3 May 2030 |
| Michael Knapper | Operations Director | 21,000 | £4.46 | 5 May 2023 - 3 May 2030 |
| David Sproston | Group Finance Director | 29,000 | £4.46 | 5 May 2023 - 3 May 2030 |
| Moira MacDonald | Group Company Secretary | 7,500 | £4.46 | 5 May 2023 - 3 May 2030 |
| Subsidiary company directors: | ||||
| Robert Findler | Production Director (Portmeirion UK) | 6,000 | £4.46 | 5 May 2023 - 3 May 2030 |
| Samantha Pearce | HR Director (Portmeirion UK) | 6,000 | £4.46 | 5 May 2023 - 3 May 2030 |
| Jacqui Gale | Managing Director (Wax Lyrical) | 10,000 | £4.46 | 5 May 2023 - 3 May 2030 |
| William Robedee | President (Portmeirion USA) | 15,000 | £4.46 | 5 May 2023 - 3 May 2030 |
| Allison Bertorelli | Chief Financial Officer (Portmeirion USA) | 5,000 | £4.46 | 5 May 2023 - 3 May 2030 |
| Total: | 160,500 | £4.46 | 5 May 2023 - 3 May 2030 |
The total number of Ordinary Shares over which each PDMR holds options following this notification is:
| Total number of options over Ordinary Shares |
|
| Philip Atherton | 16,499 |
| Michael Raybould | - |
| Michael Knapper | 2,511 |
| David Sproston | - |
| Moira MacDonald | 2,693 |
| Robert Findler | - |
| Samantha Pearce | 100 |
| Jacqui Gale | - |
| William Robedee | - |
| Allison Bertorelli | - |
Dick Steele, Chairman commented:
With the challenges that Covid-19 has brought to businesses worldwide, it is as important as ever that we incentivise and retain our key directors and senior managers to drive our business through this period of uncertainty. Performance-related share options are a powerful tool to do just that whilst aligning their interests with those of shareholders.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
_____________________________________________
Notification and public disclosure of transactions by persons discharging managerial responsibilities / person closely associated with them.
1.
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
| Company directors/officers: | |
| Philip Atherton | Group Sales & Marketing Director |
| Michael Raybould | Chief Executive |
| Michael Knapper | Operations Director |
| David Sproston | Group Finance Director |
| Moira MacDonald | Group Company Secretary |
| Subsidiary company directors: | |
| Robert Findler | Production Director (Portmeirion UK) |
| Samantha Pearce | HR Director (Portmeirion UK) |
| Jacqui Gale | Managing Director (Wax Lyrical) |
| William Robedee | President (Portmeirion USA) |
| Allison Bertorelli | Chief Financial Officer (Portmeirion USA) |
2.
Reason for the notification
a)
Position/status
See 1(a) above for all positions - all classified as PDMRs of the Company
b)
Initial notification/Amendment
Initial Notification
3.
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Portmeirion Group PLC
b)
LEI
2138003QC9J6TLZJHO70
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
Ordinary Shares of 5 pence each
b)
Identification code
GB0006957293
c)
Nature of the transactions
Grant of options over Ordinary Shares
d)
Price(s) and volume(s)
Price at grant: Nil
Exercise Price: 446 pence per Ordinary Share
Volume(s)
| Options over Ordinary Shares | |
| Philip Atherton | 21,000 |
| Michael Raybould | 40,000 |
| Michael Knapper | 21,000 |
| David Sproston | 29,000 |
| Moira MacDonald | 7,500 |
| Robert Findler | 6,000 |
| Samantha Pearce | 6,000 |
| Jacqui Gale | 10,000 |
| William Robedee | 15,000 |
| Allison Bertorelli | 5,000 |
e)
Aggregated information
- Aggregated volume
- Price
Nil, grant of options only
f)
Date of the transactions
4 May 2020
f)
Place of the transactions
Off-market
Name of authorised official of issuer responsible for making notification:
Moira MacDonald
Company Secretary to Portmeirion Group PLC
ENQUIRIES:
| Portmeirion Group PLC: | ||
| Mike Raybould Chief Executive Officer |
+44 (0) 1782 743 444 | [email protected] |
| David Sproston Group Finance Director |
+44 (0) 1782 743 444 | [email protected] |
| Hudson Sandler: | ||
| Dan de Belder Nick Moore |
+44 (0) 207 796 4133 | [email protected] [email protected] |
| Panmure Gordon: | ||
| (Nominated Adviser and Broker) | +44 (0) 207 886 2500 | |
| Freddy Crossley / Joanna Langley | Corporate Finance | |
| James Stearns | Corporate Broking |
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 [email protected] or visit www.rns.com.
END
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