Director/PDMR Shareholding

RNS Number : 7187X

Premier Foods plc

19 August 2009

 



Premier Foods plc (the 'Company')

19 August 2009

NOTIFICATION OF TRANSACTIONS OF DIRECTORS AND OTHER PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES

We wish to notify the following, in accordance with DTR 3.1.4(1)(a) of the Disclosure Rules and Transparency Rules.

On 19 August 2009, following the completion of the Placing and Open Offer and Firm Placing ('the Open Offer') proposed by the Company on 5 March 2009 and pursuant to the rules of the Company's share schemes, adjustments have been made to awards and options granted under those schemes to participants in the schemes to take account of the variation of the Company's share capital resulting from the Open Offer on the basis described below. In accordance with the rules of the Company's share schemes, the Company's auditors have confirmed, where necessary, that the calculations used to make the adjustments are fair and reasonable and HM Revenue & Customs and the Irish Revenue Commissioners have approved the adjustments to options outstanding under those of the Company's share schemes that have been approved by them.

The adjustments operate so as to increase the number of shares subject to options and awards by a factor of 5.12% and, in the case of options (other than those exercisable for nil or nominal consideration), to reduce the exercise price per share by a factor of 4.87%. The adjustments to the awards and options held by the Directors of the Company and persons discharging managerial responsibilities ('PDMR') under each scheme are set out below.

1.  The options granted under the Premier Foods Sharesave ('Sharesave'), a HM Revenue & Customs approved all-employee share plan, over ordinary shares of the Company have been adjusted for the following Directors/PDMR's:

Director/PDMR	No. of shares under option before adjustment	Number of shares under option following adjustment	Exercise Price of option before adjustment	Exercise price of option following adjustment	Maturity date
Robert Schofield	9,760	10,259	72p	68.49p	01/12/2011
Paul Thomas	2,938	3,088	196p	186.45p	01/12/2010
Paul Thomas	4,853	5,101	72p	68.49p	01/12/2011
Tim Kelly	9,760	10,259	72p	68.49p	01/12/2011
Brian Carlton	9,760	10,259	72p	68.49p	01/12/2011
Mark Hughes	9,760	10,259	72p	68.49p	01/12/2011
Andrew Peeler	9,760	10,259	72p	68.49p	01/12/2011
Bob Spooner	9,760	10,259	72p	68.49p	01/12/2011
Mark Vickery	9,760	10,259	72p	68.49p	01/12/2011
Suzanne Wise	9,760	10,259	72p	68.49p	01/12/2011
Ian York	9,760	10,259	72p	68.49p	01/12/2011

2.  The nil-cost options granted under the Company's Deferred Bonus Plan ('Deferred Bonus Plan') have been adjusted for the following Directors/PDMR:

Dire Director/PDMR	No. of shares under option before adjustment	No. of shares under option following adjustment
Robert Schofield	33,255	34,958
Paul Thomas	24,254	25,495

3.  The options granted under the Premier Foods plc Executive Share Option Scheme ('ESOS') in 2004, over ordinary shares of the Company have been adjusted for the following Directors/PDMR's:

Director/ PDMR	No. of shares under option before adjustment	No. of shares under option following adjustment	Exercise price of Option before adjustment	Exercise price of Option following adjustment
Robert Schofield	1,108,910	1,165,686	169.65 pence	161.38pence
Paul Thomas	660,188	693,990	169.65 pence	161.38 pence
Brian Carlton	46,419	48,795	169.65 pence	161.38pence
Ian York	166,078	174,581	169.65 pence	161.38 pence

4. The awards granted under the Premier Foods Co-Investment Plan ('CIP') over ordinary shares of the Company have been adjusted for the following Directors/PDMR's. 

Director/PDMR	Award	Maximum number of shares under award before adjustment	Maximum number of shares under award following adjustment
Robert Schofield	2007	1,170,489	1,230,418
	2008	3,302,478	3,187,741
Paul Thomas	2007	590,163	620,379
	2008	1,528,980	1,607,264
Tim Kelly	2007	300,000	315,360
	2008	800,091	841,056
Brian Carlton	2007	147,540	155,094
	2008	387,864	407,723
Will Carter	2008	749,499	787,873
Mark Hughes	2007	186,885	196,454
	2008	491,295	516,449
Andrew Peeler	2008	499,665	525,248
Bob Spooner	2007	245,901	258,491
	2008	655,812	689,390
Mark Vickery	2007	157,377	165,435
	2008	415,722	437,007
Suzanne Wise	2008	499,665	525,248
Ian York	2007	206,556	217,132
	2008	534,642	562,016

Suzanne Wise

General Counsel & Company Secretary

Premier Foods plc

Tel: [phone]

 

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