Director/PDMR Shareholding

RNS Number : 8456X

Macfarlane Group PLC

02 September 2020

 

2^nd September 2020

Macfarlane Group PLC

Director/PDMR Shareholding

On 2^nd September 2020, Peter D. Atkinson (Chief Executive), John Love (Group Finance Director) and Ivor Gray (Company Secretary) were granted conditional share awards over Macfarlane Group PLC ordinary shares of 25p as set out below, under the terms of the Company's Performance Share Plan ('PSP').

After consideration, the Remuneration Committee determined that the 2020 grants would be maintained at the standard levels. We acknowledge that, in common with many other companies we have seen a fall in our share price due to external factors. Under the LTIP rules, the Remuneration Committee has full discretion to ensure that the final outcome of the awards reflects all relevant factors, including shareholders' feedback and consideration of any potential windfall gains.

The conditional share award is subject to the achievement of performance conditions and if it vests will be released in accordance with the Plan rules. The award is also subject to an additional holding period of two years from the date on which the award vests.

Directors' Shareholdings and Share Interests

Name	Awards	Vesting Date	Total Options Following Grant	Beneficial*
Peter D. Atkinson	395,672	September 2023	725,795	854,172
John Love	195,999	September 2023	359,524	800,000
Ivor Gray	124,726	September 2023	181,992	54,836

* including connected persons

The PSP awards made by Macfarlane represent awards over shares worth 100% of the Executive Directors' base salaries, as permitted by the Directors' remuneration policy.

The PSP awards made to Mr. Gray represent an award over shares worth 75% of base salary.

The forms required under the EU Market Abuse Regulation follow.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Peter D. Atkinson
2	Reason for the notification
a)	Position/status	Chief Executive
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Macfarlane Group PLC
b)	LEI	213800LVRYDERSJAAZ73
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	Conditional awards over ordinary shares of 25p each
	Identification code	N/A
b)	Nature of the transaction	Conditional share awards made under the Company's Performance Share Plan.
c)	Price(s) and volume(s)	Award over 395,672 conditional shares at nil cost under the Company's Performance Share Plan.
d)	Aggregated information
	- Aggregated volume	N/A - single transaction
	- Price
e)	Date of the transaction	2nd September 2020
f)	Place of the transaction	Grant of share awards occurred outside a trading venue.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	John Love
2	Reason for the notification
a)	Position/status	Group Finance Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Macfarlane Group PLC
b)	LEI	213800LVRYDERSJAAZ73
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	Conditional awards over ordinary shares of 25p each
	Identification code	N/A
b)	Nature of the transaction	Conditional share awards made under the Company's Performance Share Plan.
c)	Price(s) and volume(s)	Award over 195,999 conditional shares at nil cost under the Company's Performance Share Plan.
d)	Aggregated information
	- Aggregated volume	N/A - single transaction
	- Price
e)	Date of the transaction	2nd September 2020
f)	Place of the transaction	Grant of share awards occurred outside a trading venue.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ivor Gray
2	Reason for the notification
a)	Position/status	Company Secretary
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Macfarlane Group PLC
b)	LEI	213800LVRYDERSJAAZ73
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	Conditional awards over ordinary shares of 25p each
	Identification code	N/A
b)	Nature of the transaction	Conditional share awards made under the Company's Performance Share Plan.
c)	Price(s) and volume(s)	Award over 124,726 conditional shares at nil cost under the Company's Performance Share Plan.
d)	Aggregated information
	- Aggregated volume	N/A - single transaction
	- Price
e)	Date of the transaction	2nd September 2020
f)	Place of the transaction	Grant of share awards occurred outside a trading venue.

Further enquiries:	Macfarlane Group	Tel: [phone]
	Stuart Paterson  Chairman
	Spreng Thomson
	Callum Spreng	Mob: [phone]

Legal Entity Identifier (LEI):  213800LVRYDERSJAAZ73

Notes to Editors:

· Macfarlane Group PLC is listed on the London Stock Exchange (LSE: MACF) in the Industrials Sector

· The company is headquartered in Glasgow, Scotland and has more than 70 years' experience in the UK packaging industry.  Macfarlane Group's businesses are:

o  Packaging Distribution is the leading UK distributor of a comprehensive range of protective packaging products;

o  Manufacturing Operations which includes Labels who design and print high quality self-adhesive and resealable labels, principally for FMCG companies, and PackagingDesign and Manufacture who design and produce protective packaging for high value, fragile products.

· Macfarlane Group employs over 900 people at 31 sites, principally in the UK, but also in Ireland and Sweden.

· The company has 15,000+ customers in the UK, Europe and the USA providing 600,000+ lines to a wide range of industry sectors including: consumer goods; food manufacturing; logistics; internet retail; mail order; electronics; defence and aerospace.

 

 

END

 

 

DSHBBGDCSUGDGGD