Executive Share Option Grants

RNS Number : 8068N

Portmeirion Group PLC

11 August 2017

 

11 August 2017

Portmeirion Group PLC

(the "Company")

Executive Share Option Grants

The Company announces that, on 11 August 2017, it granted options to Directors and senior managers over a total of 193,000 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 11 August 2017 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 three years ending 31 December 2017, 31 December 2018 and 31 December 2019 is at least 13% higher than that for the year ended 31 December 2016. The exercise price of the options is in reference to the closing middle market price of an Ordinary Share on 10 August 2017, being the latest date prior to the grant. Of the total number of options granted, 145,000 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	25,000	£9.60	12 August 2020 - 10 August 2027
Lawrence Bryan	Chief Executive	40,000	£9.60	12 August 2020 - 10 August 2027
Michael Raybould	Group Finance Director	30,000	£9.60	12 August 2020 - 10 August 2027
Michael Knapper	Operations Director	20,000	£9.60	12 August 2020 - 10 August 2027
Moira MacDonald	Group Company Secretary	7,500	£9.60	12 August 2020 - 10 August 2027
Subsidiary company directors:
Joanne Barber	Wax Lyrical Managing Director	7,500	£9.60	12 August 2020 - 10 August 2027
Samantha Pearce	HR Director	7,500	£9.60	12 August 2020 - 10 August 2027
Nigel Spencer	Production Director	7,500	£9.60	12 August 2020 - 10 August 2027
	Total:	145,000

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	60,467
Lawrence Bryan	94,394
Michael Raybould	30,000
Michael Knapper	31,000
Moira MacDonald	11,900
Joanne Barber	7,500
Samantha Pearce	11,900
Nigel Spencer	34,288

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 Lawrence Bryan Chief Executive Michael Raybould Group Finance Director Michael Knapper Operations Director Moira MacDonald Group Company Secretary Subsidiary company directors: Joanne Barber Wax Lyrical Managing Director Samantha Pearce HR Director Nigel Spencer Production Director
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:  960 pence per Ordinary Share Volume(s) Options over Ordinary Shares Philip Atherton 25,000 Lawrence Bryan 40,000 Michael Raybould 30,000 Michael Knapper 20,000 Moira MacDonald 7,500 Joanne Barber 7,500 Samantha Pearce 7,500 Nigel Spencer 7,500
e)	Aggregated information -     Aggregated volume -     Price	Nil, grant of options only
f)	Date of the transactions	11 August 2017
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:
Dick Steele	[phone]	[e-mail]
Non-executive Chairman Mike Raybould	[phone]	[e-mail]
Group Finance Director
Bell Pottinger:
Dan de Belder Robert McGowan Stuart	[phone] [phone]	[e-mail] [e-mail]
Panmure Gordon (Nominated Adviser and Broker):	[phone]
Freddy Crossley/ Duncan Monteith	Corporate Finance
Tom Salvesen	Corporate Broking

Cantor Fitzgerald Europe (Joint Broker):	[phone]
Catherine Leftley /Marc Milmo	Corporate Finance
Mark Westcott	Sales

 

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