Director/PDMR Shareholding

RNS Number : 1407A

Bakkavor Group PLC

24 May 2019

 

Bakkavor Group PLC

24 May 2019

Bakkavor Group plc

Director / PDMR Shareholding

Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMR") and persons closely associated ("PCA") with them.

Bakkavor Group plc (the "Company") was notified on 23 May 2019, that:

(i)       Carrion Enterprises Limited, the corporate holding structure and PCA of Agust Gudmundsson, a Director/PDMR of the Company, has sold 3,229,625 Ordinary shares in the Company; and

(ii)      Umbriel Ventures Limited, the corporate holding structure and PCA of Lydur Gudmundsson, a Director/PDMR of the Company, has sold 3,229,625 Ordinary shares in the Company;

to Lixaner Co Limited (a company registered in Larnaca, Cyprus, registered number: HE348295).

Lixaner Co Limited is a company owned and controlled by Sigurdur Valtysson, who runs the family office for Agust and Lydur Gudmundsson. 

Following these transactions, Lixaner Co Limited owns 6,459,250 shares in the Company (representing 1.11% of the issued share capital of the Company). The number of shares held by Carrion Enterprises Limited is now 142,103,505 (representing 24.52% of the issued share capital of the Company), and the number of shares held by Umbriel Ventures Limited is now 142,103,505 (representing 24.52% of the issued share capital of the Company). 

Given the close relationship between the parties, Sigurdur Valtysson is to be considered as acting in concert with Agust and Lydur Gudmundsson for the purposes of the definition in the Takeover Code. 

The aggregate shareholding in the Company of Carrion Enterprises Limited and Umbriel Ventures Limited and their concert party group following the sale of shares to Lixaner Co Limited will therefore remain unchanged at 50.16%. 

The Notification of Dealing Forms, under the Market Abuse Regulation, can be found below.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Carrion Enterprises Limited
2	Reason for the notification
a)	Position/status	Corporate holding structure and PCA of Agust Gudmundsson (Director/PDMR)
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Bakkavor Group plc
b)	LEI	213800COL7AD54YU9949
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	Bakkavor Group plc Ordinary Shares of 2 pence each GB00BF8J3Z99
b)	Nature of the transaction	Sale of 3,229,625 Ordinary shares of 2 pence each by Carrion Enterprises Limited to Lixaner Co Limited
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£1.224	3,229,625
d)	Aggregated information - Aggregated volume - Price	3,229,625 £1.224
e)	Date of the transaction	23 May 2019
f)	Place of the transaction	Outside a Trading Venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Umbriel Ventures Limited
2	Reason for the notification
a)	Position/status	Corporate holding structure and PCA of Lydur Gudmundsson (Director/PDMR)
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Bakkavor Group plc
b)	LEI	213800COL7AD54YU9949
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	Bakkavor Group plc Ordinary Shares of 2 pence each GB00BF8J3Z99
b)	Nature of the transaction	Sale of 3,229,625 Ordinary Shares of 2 pence each by Umbriel Ventures Limited to Lixaner Co Limited
c)	Price(s) and volume(s)	Price(s)	Volume(s)
		£1.224	3,229,625
d)	Aggregated information - Aggregated volume - Price	3,229,625 £1.224
e)	Date of the transaction	23 May 2019
f)	Place of the transaction	Outside a Trading Venue

-Ends-

Enquiries

Company Secretarial:

Simon Witham, General Counsel and Company Secretary                                [phone]

Institutional investors and analysts:

Sally Barret-Jolley, Head of Corporate Affairs                                                       [phone]

Media enquiries:

Tulchan Communications                                                                                      [phone]

Will Smith, Jessica Reid

ABOUT BAKKAVOR

Bakkavor is the leading provider of fresh prepared food ("FPF") in the UK, with a growing international presence in the United States and China. The Group is the number one by market share in the UK in the four FPF product categories of Meals, Salads, Desserts and Pizza & Bread, providing high-quality, fresh, healthy and convenient food. Its customers include all the well-known UK grocery retailers as well as some of the world's best-known international food brands.

The Group's International segment operates in the US and China. As these FPF markets continue to grow, Bakkavor seeks to leverage its UK expertise in order to build its presence in these territories.

Bakkavor was founded in 1986 and has its headquarters in London. The Group has over 19,000 employees and operates 25 factories in the UK, 5 in the US and 9 in China.

LEI number: 213800COL7AD54YU9949

 

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