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Portmeirion Group (PMP)

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Friday 09 August, 2019

Portmeirion Group

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  

+44 (0) 1782 744721

[email protected]

Mike Raybould,

Group Finance Director  

+44 (0) 1782 744721

[email protected]




Hudson Sandler:

Dan de Belder

Nick Moore

Oenone Potter

+44 (0) 207 796 4133

[email protected]

[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

 

Cantor Fitzgerald Europe:

(Joint Broker)                                           

+44 (0) 207 894 7000


Phil Davies / Rick Thompson


Corporate Finance

Casper Shand Kydd


Sales

 

 


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