Exercise of Options and PDMR Shareholdings

RNS Number : 4966N

Portmeirion Group PLC

09 August 2017

 

9 August 2017

Portmeirion Group PLC

(the "Company")

Exercise of Options and PDMR Shareholdings

The Portmeirion 2012 Approved Share Option Plan and The Portmeirion 2012 Unapproved Share Option Plan (the "Option Plans") Exercises

The Company announces that, on 8 August 2017, the following persons discharging managerial responsibilities ("PDMRs") exercised options over ordinary shares of 5 pence each in the Company ("Ordinary Shares") which were granted pursuant to the Option Plans as detailed below:

	Date of Grant	Exercise Price per Ordinary Share in pence	Number of options exercised
Philip Atherton	2 May 2013	610	30,000
Philip Atherton	30 April 2014	740	30,000
Lawrence Bryan	2 May 2013	610	45,000
Lawrence Bryan	30 April 2014	740	45,000
Michael Knapper	30 April 2014	740	10,000
Moira MacDonald	30 April 2014	740	4,0000
		Total	164,000

Subsequently the Company was notified on 8 August 2017 that The Portmeirion Employees' Share Trust (the "Trust"), on 8 August 2017, transferred 78,929 Ordinary Shares to the Executive Directors following the exercise of certain options as detailed above.  In addition, on 8 August 2017, the Company issued 85,071 Ordinary Shares for the balance of the exercise of certain options as detailed above.

Application has been made for the issued 85,071 Ordinary Shares to be admitted to trading on AIM ("Admission") and trading of these Ordinary Shares is expected to commence on or around 15 August 2017.

Following Admission, the total number of Ordinary Shares held by the Company in treasury is 237,743, and the Company will have 11,090,104 Ordinary Shares in issue and 10,852,361 Ordinary Shares with voting rights. The figure of 10,852,361 Ordinary Shares may be used by shareholders of Portmeirion Group PLC as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

PDMR Shareholdings

Furthermore, on 8 August 2017, the PDMRs sold the following number of Ordinary Shares immediately upon the exercise of certain options, and in the case of Philip Atherton and Michael Knapper, who are building their shareholding in the Company, the amount being sufficient to pay the balance of associated costs and liabilities of exercise:

	Number of Ordinary Shares received upon exercise of options	Number of Ordinary Shares sold	Sale Price per Ordinary Share in pence	Total number of Ordinary Shares held at Admission	Percentage of Company's issued share capital at Admission
Philip Atherton	60,000	49,843	£9.65	10,549	0.10
Lawrence Bryan	90,000	90,000	£9.65	143,667	1.32
Michael Knapper	10,000	8,663	£9.65	1,337	0.01
Moira MacDonald	4,000	3,347	£9.65	2,153	0.02

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	Philip Atherton - Group Sales & Marketing Director Lawrence Bryan - Chief Executive Michael Knapper - Operations Director Moira MacDonald - Group Company Secretary
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	(A) Exercise of options over Ordinary Shares (B) Sale of Ordinary Shares
d)	Price(s) and volume(s)	In respect of (A): Price Exercise price of 610 pence per Ordinary Share for options granted on 2 May 2013 and 740 pence per Ordinary Share for options granted on 30 April 2014 Volume(s) Philip Atherton - Options over 30,000 Ordinary Shares at 610 pence per Ordinary Share and 30,000 Ordinary Shares at 740 pence per Ordinary Share. Lawrence Bryan - Options over 45,000 Ordinary Shares at 610 pence per Ordinary Share and 45,000 Ordinary Shares at 740 pence per Ordinary Share. Michael Knapper - Options over 10,000 Ordinary Shares at 740 pence per Ordinary Share. Moira MacDonald - Options over 4,000 Ordinary Shares at 740 pence per Ordinary Share. In respect of (B): Price - 965 pence per Ordinary Share Volume(s) Philip Atherton - 49,843 Ordinary Shares Lawrence Bryan - 90,000 Ordinary Shares Michael Knapper - 8,663 Ordinary Shares Moira MacDonald - 3,347 Ordinary Shares
e)	Aggregated information -     Aggregated volume -     Price	In respect of (A): Aggregated cost of exercise Philip Atherton £405,000 Lawrence Bryan £607,500 Michael Knapper £74,000 Moira MacDonald £29,600 In respect of (B): Aggregated sales proceeds Philip Atherton £480,984.95 Lawrence Bryan £868,500.00 Michael Knapper £83,597.95 Moira MacDonald £32,298.55
f)	Date of the transactions	8 August 2017
f)	Place of the transactions	(A) Off-market (B) London Stock Exchange, AIM Market (XLON)

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
David Banks	Sales

 

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