Premier Foods PLC

Remuneration Information • Sep 25, 2020

National Storage Mechanism | Additional information

RNS Number : 1764A

Premier Foods plc

25 September 2020

25 September 2020                                                  

Premier Foods plc (the "Company")

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

Long Term Incentive Plan 2020 - awards in respect of 2019/20

On 24 September 2020 (the "Grant Date") the following executive directors of the Company (each a person discharging managerial responsibilities) were granted awards, over ordinary shares of 10p each in the Company, under the Premier Foods Long Term Incentive Plan 2020 (the "LTIP"), as set out below.

Name	Title	Number of shares subject to option
Alex Whitehouse	Chief Executive Officer	449,250
Duncan Leggett	Chief Financial Officer	435,220

On appointment as CEO and acting CFO in 2019, the two executive directors were each entitled to receive an award under the LTIP for the 2019/20 financial period. However, as the Company was in a prohibited period, these awards have been delayed. The additional awards reflect their entitlement to shares as if the award had been made as originally intended. To ensure consistency with the original 2019/20 LTIP award, the same performance conditions, performance period and share price will apply. Each 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 tenth 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 awards and no consideration shall be payable when an 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

Alex Whitehouse

2

Reason for the notification

a)

Position/status

CEO

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 an award (in respect of 2019/20) under the Premier Foods plc Long Term Incentive Plan 2020

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	449,250

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

24 September 2020

f)

Place of the transaction

Outside a trading venue

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Duncan Leggett

2

Reason for the notification

a)

Position/status

CFO

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 an award (in respect of 2019/20) under the Premier Foods plc Long Term Incentive Plan 2020

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	435,220

d)

Aggregated information

- Aggregated volume

- Price

N/A

e)

Date of the transaction

24 September 2020

f)

Place of the transaction

Outside a trading venue

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