Director/PDMR Shareholding

RNS Number : 8471C

Bakkavor Group PLC

13 October 2022

 

13 October 2022

Bakkavor Group plc

(the "Company" or "Bakkavor")

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.

LTIP Awards

On 13 October 2022 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 persons discharging managerial responsibilities:

PDMR	No. of shares under Award	Type of Award
Pete Laport	137,573	Performance Share Award
Pete Laport	68,786	Restricted Share Award

The awards are structured as conditional awards.

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 conditions set for the award are satisfied.

The performance conditions for the Performance Share Award relate to financial targets set for the Bakkavor USA business for the 2024 financial year.

Notifications

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 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 137,573 Performance Share Award under LTIP 68,786 Restricted Share Award under LTIP
d)	Aggregated information -  Aggregated volume -  Price	206,359 Nil
e)	Date of the transaction	13 October 2022
f)	Place of the transaction	Outside a trading venue

-Ends-

Enquiries

Company Secretarial:

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

Institutional investors and analysts:

Emily Daw, Head of Investor Relations                                                                                      [phone]

About Bakkavor

We are the leading provider of fresh prepared food ("FPF") in the UK, and our presence in the US and China positions the Group well in these high-growth markets. We leverage our consumer insight and scale to provide innovative food that offers quality, choice, convenience, and freshness. Our c.19,000 colleagues operate from 46 sites across our three markets supplying a portfolio of over 3,200 products across meals, pizza & bread, salads and desserts to leading grocery retailers in the UK and US, and international food brands in China.

LEI number: 213800COL7AD54YU9949

 

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