Exercise of Options and PDMR Shareholdings

RNS Number : 4710I

Portmeirion Group PLC

09 August 2019

 

9 August 2019

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") and The Portmeirion Group 2018 Deferred Incentive Share Option Plan (the "Deferred Plan")

As part of its long term employee remuneration and retention incentives, the Company announces that, on 8 August 2019, the following transactions occurred for the persons discharging managerial responsibilities ("PDMRs") as shown below:

		Option Plans number options granted (A)	Deferred Plan number options granted (B)	Exercise  Price over Deferred Plan options	Deferred Plan existing options exercised (C)
Company directors/officers:
Philip Atherton	Group Sales & Marketing Director	-	4,173	£1.00	1,365
Lawrence Bryan	Chief Executive	-	10,007	£1.00	2,860
Michael Knapper	Operations Director	-	2,615	£1.00	-
Moira MacDonald	Company Secretary	4,600	-	-	-
Michael Raybould	Group Finance Director	-	4,358	£1.00	-
Subsidiary Company directors:
Robert Findler	Production Director (Portmeirion UK)	7,500	-	-	-
Jacqui Gale	Managing Director (Wax Lyrical)	10,000	-	-	-
Samantha Pearce	HR Director (Portmeirion UK)	4,600	-	-	-
David Sproston	Finance Director (Portmeirion UK)	4,600	-	-	-
	Total:	31,300	21,153		4,225

Note:

(A)     Grant of options under Option Plans. 

(B)      Grant of new options under Deferred Plan against 2018 performance and incentive arrangements (further detail below).

(C)     Exercise of existing options under the Deferred Plan.

The Company granted 31,300 options over Ordinary Shares to the PDMRs shown above and a further 46,000 options over Ordinary Shares to other senior managers pursuant to the Option Plans, including the amounts shown above. 

In addition, the Company granted 21,153 options to Executive Directors shown above over Ordinary Shares pursuant to the Deferred Plan.  In accordance with the rules of the Deferred Plan, the number of options granted is based on the gross incentive payment earned by the relevant Director in respect of the year ended 31 December 2018.

As a result of the exercise of Deferred Plan options detailed above, the Company transferred 4,225 Ordinary Shares from those held in treasury by the Company. Consequently, the Company has made an application to the London Stock Exchange for 4,225 new Ordinary Shares to be admitted to trading on AIM and trading of these Ordinary Shares is expected to commence on or around 14 August 2019 ("Admission").

Following Admission, the total number of Ordinary Shares held by the Company in treasury is 230,382 and the Company will have 11,107,483 Ordinary Shares in issue and 10,877,101 Ordinary Shares with voting rights. The figure of 10,877,101 Ordinary Shares may be used by shareholders of the Company 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

The total number of Ordinary Shares over which each PDMR holds options and the total number of Ordinary Shares with voting rights held following this Admission is:

	Total number of options over Ordinary Shares		Total number  of Ordinary Shares with voting rights	Ordinary Shares percentage of Company's Ordinary Shares with voting rights
Philip Atherton	56,965	16,499		0.15%
Lawrence Bryan	96,947	98,561		0.91%
Michael Knapper	49,365	2,511		0.02%
Moira MacDonald	19,600	2,693		0.02%
Michael Raybould	67,275	-		-
Robert Findler	10,500	-		-
Jacqui Gale	10,000	-		-
Samantha Pearce	19,600	100		0.00%
David Sproston	17,100	-		-

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).

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 Knapper Operations Director Moira MacDonald Group Company Secretary Michael Raybould Group Finance Director Subsidiary Company directors: Jacqui Gale Managing Director (Wax Lyrical) Robert Findler Production Director (Portmeirion UK) Samantha Pearce HR Director (Portmeirion UK) David Sproston Finance Director (Portmeirion UK)
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)   Performance related, Grant of options under Option Plans. Exercise period 9 August 2022 - 7 August 2029. (B)   Grant of new options under The Portmeirion Group 2018 Deferred Incentive Share Option Plan (the "Deferred Plan"). (C)   Exercise of Existing options under the Deferred Plan.
d)	Price(s) and volume(s)	In respect of (A) Grant of options under Option Plans Price at grant: Nil Exercise Price:  £9.80 pence per Ordinary Share Volume(s) Options over Ordinary Shares Moira MacDonald 4,600 Robert Findler 7,500 Jacqui Gale 10,000 Samantha Pearce 4,600 David Sproston 4,600 In respect of (B) Grant of options under Deferred Plan Price at grant: Nil Exercise Price (per PDMR in respect of all options granted): £1 Options over Ordinary Shares Philip Atherton 4,173 Lawrence Bryan 10,007 Michael Knapper 2,615 Michael Raybould 4,358 In respect of (C) Exercise of options under the Deferred Plan Exercise Price (per PDMR in respect of all options exercised): £1 Options over Ordinary Shares Philip Atherton 1,365 Lawrence Bryan 2,860
e)	Aggregated information -     Aggregated volume -     Price	In respect of (A) Grant of options under Option Plans Nil, grant of options only In respect of (B) Grant of options under Deferred Plan Nil, grant of options only In respect of (C) Exercise of options under the Deferred Plan £1.00 £1.00
f)	Date of the transactions	In respect of (A) Grant of options under Option Plans - 8 August 2019 In respect of (B) Grant of options under Deferred Plan 8 August 2019 In respect of (C) Exercise of options under the Deferred Plan - 8 August 2019
g)	Place of the transactions	In respect of (A) Grant of options under Option Plans - - Off-market In respect of (B) Grant of options under Deferred Plan - Off-market In respect of (C) Exercise of options under the Deferred Plan - 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, Non-executive Chairman	[phone]	[e-mail]
Mike Raybould, Group Finance Director	[phone]	[e-mail]
Hudson Sandler:
Dan de Belder Nick Moore Oenone Potter	[phone]	[e-mail] [e-mail] [e-mail]
Panmure Gordon:
(Nominated Adviser and Broker)	[phone]
Freddy Crossley / Joanna Langley		Corporate Finance
James Stearns		Corporate Broking
Cantor Fitzgerald Europe:
(Joint Broker)	[phone]
Phil Davies / Rick Thompson		Corporate Finance
Casper Shand Kydd		Sales

 

END

 

 

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