Director/PDMR Shareholding

RNS Number : 5292G

Premier Foods plc

08 August 2016

 

Premier Foods plc (the Company)

Notification of transactions by persons discharging managerial responsibilities and persons closely associated

The Company announces that on 5 August 2016 Gavin Darby, Chief Executive Officer, acquired 662,058 ordinary shares of 10 pence each in the share capital of the Company ("Shares") and in addition received 397,752 Shares following the exercise of the final tranche of his Co-Investment Award. Following these transactions Mr Darby now beneficially holds 5,213,336 Shares representing 0.63% of the Company's issued share capital.

Acquisition of shares

On 5 August 2016 Mr Darby acquired 662,058 Shares at a price of 51.3634p. In addition to the 25% of any annual bonus awarded to Mr Darby in the form of Shares, Mr Darby elected to receive the balance of his annual bonus in the form of Shares and the above acquisition represents Mr Darby's entire annual bonus net of income tax and employee national insurance.

Co-Investment Award

The final tranche of Mr Darby's Co-Investment Award ("Award"), representing 751,814 Shares, vested on 1 May 2016. The Award is structured as a nil cost option. Mr Darby exercised the Award on 5 August 2016 and then sold sufficient Shares to cover income tax and employee national insurance on 5 August 2016 at a price of 51.375p per Share.

Award Shares exercised	Number of Shares sold to cover income tax and employee NI	Number of Shares retained
751,814	354,062	397,752

Following these transactions Mr Darby's holding is as follows:

Name	Total number of Shares acquired/received	Total beneficial holding of Shares following the transactions	Total percentage of issued share capital following the transactions
Gavin Darby	1,059,810	5,213,336	0.63%

The notifications set out below are provided in accordance with the requirements of the Market Abuse Regulation.

8 August 2016

ENQUIRIES:

For further information please contact:

Andrew McDonald
General Counsel & Company Secretary

[phone]          

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Gavin Darby
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Premier Foods plc
b)	LEI	N/A
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 10p each ("Shares") ISIN: GB00B7N0K053
b)	Nature of the transaction	Acquisition of Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 51.3634p 662,058
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	5 August 2016
f)	Place of the transaction	London Stock Exchange
5	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 10p each ("Shares") ISIN: GB00B7N0K053
b)	Nature of the transaction	Acquisition of Shares following the exercise of the final tranche of the CEO's Co-Investment Award. The Award is structured as a nil cost option.
c)	Price(s) and volume(s)	Price(s) Volume(s) N/A 751,814
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	5 August 2016
f)	Place of the transaction	London Stock Exchange
6	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 10p each ("Shares") ISIN: GB00B7N0K053
b)	Nature of the transaction	Sale of Shares to cover income tax and employee national insurance following exercise of CEO's Co-Investment Award
c)	Price(s) and volume(s)	Price(s) Volume(s) 51.375p 354,062
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	5 August 2016
f)	Place of the transaction	London Stock Exchange

 

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