Director/PDMR Shareholding

RNS Number : 8021D

Bakkavor Group PLC

30 October 2020

 

30 OCTOBER 2020

NOTIFICATION DEALING WITH GRANT OF AWARDS TO PDMRS

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.

On 30 October 2020 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 person discharging managerial responsibilities:

PDMR	No. of shares under Award	Type of Award
Pete Laport	354,823	Performance Share Award
Pete Laport	177,411	Restricted Share Award

The awards will ordinarily vest on the third anniversary of grant subject to the grantee's continued service and, in the case of the Performance Share Award, only to the extent to which the performance condition set for the award is satisfied. The performance condition shall measure the Company's total shareholder return over the three-year period commencing on 14 October 2020 relative to that of a bespoke group of comparator companies.

Details of the full notifications received by the Company are set out below.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Pete Laport
2	Reason for Notification
a)	Position/status	President and Chief Executive Officer of Bakkavor USA
b)	Initial notification/Amendment	Initial Announcement
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 share 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 to the extent to which the total shareholder return performance condition is met. No performance conditions apply to the Restricted Share Award.
c)	Price(s) and volume(s)	Price(s) Volume(s) Nil Nil 354,823 Performance Share Award 177,411 Restricted Share Award
d)	Aggregated information -  Aggregated volume -  Price	532,234 Nil
e)	Date of the transaction	30 October 2020
f)	Place of the transaction	Outside a trading venue

-Ends-

Enquiries

Company Secretarial:

Annabel Tagoe-Bannerman, General Counsel and Company Secretary       [phone]

Institutional investors and analysts:

Sally Barret-Jolley, Head of Corporate Affairs [phone]

Media enquiries:

Tulchan Communications [phone]

Will Smith

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, Marks & Spencer, Sainsbury's and Waitrose.

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

LEI number: 213800COL7AD54YU9949

 

END

 

 

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