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Portmeirion Group (PMP)

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Monday 04 May, 2020

Portmeirion Group

Executive Share Option Grants

RNS Number : 8327L
Portmeirion Group PLC
04 May 2020
 

4 May 2020

 

 

 

 

Portmeirion Group PLC

(the "Company")

 

Executive Share Option Grants

 

The Company announces that, on 4 May 2020, it granted options to Directors and senior managers over a total of 200,500 ordinary shares of 5 pence each in the Company ("Ordinary Shares") pursuant to The Portmeirion 2012 Approved Share Option Plan and The Portmeirion 2012 Unapproved Share Option Plan (the "2012 Plans").

 

The options are subject to the achievement of performance criteria as determined by the Remuneration Committee, and as required under the 2012 Plans.  The options granted on 4 May 2020 are normally only exercisable if t he increase in the average of the Group's basic adjusted earnings per share (as adjusted for changes in accounting standards and exceptional items) for each of the two years ending 31 December 2021 and 31 December 2022 is at least 10% higher than that for the year ended 31 December 2019. The exercise price of the options is in reference to the closing middle market price of an Ordinary Share on 1 May 2020, being the latest date prior to the grant. Of the total number of options granted, 160,500 options over Ordinary Shares were granted to persons discharging managerial responsibilities ("PDMRs") of the Company, as detailed below:

 



Number options granted

Exercise price per Ordinary Share

Exercise period

Company directors/officers:

Philip Atherton

Group Sales & Marketing Director

21,000

£4.46

5 May 2023 - 3 May 2030

Michael Raybould

Chief Executive

40,000

£4.46

5 May 2023 - 3 May 2030

Michael Knapper

Operations Director

21,000

£4.46

5 May 2023 - 3 May 2030

David Sproston

Group Finance Director

29,000

£4.46

5 May 2023 - 3 May 2030

Moira MacDonald

Group Company Secretary

7,500

£4.46

5 May 2023 - 3 May 2030

Subsidiary company directors:

Robert Findler

Production Director (Portmeirion UK)

6,000

£4.46

5 May 2023 - 3 May 2030

Samantha Pearce

HR Director (Portmeirion UK)

6,000

£4.46

5 May 2023 - 3 May 2030

Jacqui Gale

Managing Director (Wax Lyrical)

10,000

£4.46

5 May 2023 - 3 May 2030

William Robedee

President (Portmeirion USA)

15,000

£4.46

5 May 2023 - 3 May 2030

Allison Bertorelli

Chief Financial Officer (Portmeirion USA)

5,000

£4.46

5 May 2023 - 3 May 2030


Total:

160,500

£4.46

5 May 2023 - 3 May 2030

 

The total number of Ordinary Shares over which each PDMR holds options following this notification is:

 


Total number of options

over Ordinary Shares

Philip Atherton

16,499

Michael Raybould

-

Michael Knapper

2,511

David Sproston

-

Moira MacDonald

2,693

Robert Findler

-

Samantha Pearce

100

Jacqui Gale

-

William Robedee

-

Allison Bertorelli

-

 

Dick Steele, Chairman commented:

 

With the challenges that Covid-19 has brought to businesses worldwide, it is as important as ever that we incentivise and retain our key directors and senior managers to drive our business through this period of uncertainty.  Performance-related s hare options are a powerful tool to do just that whilst aligning their interests with those of shareholders .

 

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

Michael Raybould

Chief Executive

Michael Knapper

Operations Director

David Sproston

Group Finance Director

Moira MacDonald

Group Company Secretary

Subsidiary company directors:

Robert Findler

Production Director (Portmeirion UK)

Samantha Pearce

HR Director (Portmeirion UK)

Jacqui Gale

Managing Director (Wax Lyrical)

William Robedee

President (Portmeirion USA)

Allison Bertorelli

Chief Financial Officer (Portmeirion USA)

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

Grant of options over Ordinary Shares

d)

Price(s) and volume(s)

Price at grant: Nil

Exercise Price:  446 pence per Ordinary Share

Volume(s)


Options over Ordinary Shares

Philip Atherton

21,000

Michael Raybould

40,000

Michael Knapper

21,000

David Sproston

29,000

Moira MacDonald

7,500

Robert Findler

6,000

Samantha Pearce

6,000

Jacqui Gale

10,000

William Robedee

15,000

Allison Bertorelli

5,000

e)

Aggregated information

-  Aggregated volume

-  Price

Nil, grant of options only

f)

Date of the transactions

4 May 2020

f)

Place of the transactions

Off-market

 

Name of authorised official of issuer responsible for making notification:

 

Moira MacDonald

Company Secretary to Portmeirion Group PLC

 

ENQUIRIES:

 

Portmeirion Group PLC:

Mike Raybould

Chief Executive Officer

+44 (0) 1782 743 444

[email protected]

David Sproston

Group Finance Director

+44 (0) 1782 743 444

[email protected]




Hudson Sandler:

Dan de Belder

Nick Moore

+44 (0) 207 796 4133

[email protected]

[email protected]




Panmure Gordon:

(Nominated Adviser and Broker) 

+44 (0) 207 886 2500


Freddy Crossley / Joanna Langley


Corporate Finance

James Stearns


Corporate Broking

 


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