RNS Number : 4061J
Portmeirion Group PLC
26 April 2022
 

26 April 2022

 

 

Portmeirion Group PLC

(the "Company")

 

Grant of Options

 

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 25 April 2022, the following transactions occurred for the persons discharging managerial responsibilities ("PDMRs") as shown below:

 

 

 

Option Plans number of options granted at an exercise price of 570 pence per Ordinary Share (A)

Deferred Plan number of options granted at an exercise price of £1.00 (B)

Company directors/officers:

 

 

Michael Raybould

Chief Executive

40,000

10,813

Jacqui Gale

Chief Commercial Officer

25,000

5,706

Michael Knapper

Group Operations Director

25,000

5,506

William Robedee

President of North America

25,000

7,051

David Sproston

Group Finance Director

25,000

4,279

Moira MacDonald

Group Company Secretary

11,000

-

 

Total:

151,000

33,355

Note:

(A)    Grant of options under Option Plans. 

(B)     Grant of new options under Deferred Plan against 2021 performance and incentive arrangements (further detail below).

The Company granted 151,000 options over Ordinary Shares to the PDMRs shown above and a further 144,500 options over Ordinary Shares to other senior managers pursuant to the Option Plans.  The options are subject to the achievement of performance targets as determined by the Remuneration Committee, and as required under the Option Plans.  The options granted on 25 April 2022 are normally only exercisable if the increase in the average of the Group's basic adjusted (for changes in accounting standards and exceptional items) earnings per share for each of the three years ending 31 December 2022, 31 December 2023 and 31 December 2024 is at least 20% higher than that for the year ended 31st December 2021. The calculation of basic adjusted earnings per share shall take account of the number of shares and effective tax rates at the date of grant.

In addition, the Company granted 33,355 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 2021.

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

 

Michael Raybould

145,171 

5,548

0.04%

Jacqui Gale

70,706

-

-

Michael Knapper

84,121 

5,576

0.04%

William Robedee

 77,051

-

-

David Sproston

 88,279

1,315

0.01%

Moira MacDonald

 31,000

2,693

0.02%

         

 

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:

Michael Raybould

Chief Executive

Jacqui Gale

Chief Commercial Officer

Michael Knapper

Group Operations Director

William Robedee

President of North America

David Sproston

Group Finance Director

Moira MacDonald

Group Company Secretary

 

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 26 April 2025 - 24 April 2032.

(B)   Grant of new options under The Portmeirion Group 2018 Deferred Incentive Share Option Plan (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:  £5.70 pence per Ordinary Share

 

Volume(s)

 

 

Options over Ordinary Shares

Michael Raybould

40,000

Jacqui Gale

25,000

Michael Knapper

25,000

William Robedee

25,000

David Sproston

25,000

Moira MacDonald

11,000

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

Michael Raybould

10,813

Jacqui Gale

5,706

Michael Knapper

5,506

William Robedee

7,051

David Sproston

4,279

 

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

f)

Date of the transactions

 

In respect of (A) Grant of options under Option Plans - 25 April 2022

 

In respect of (B) Grant of options under Deferred Plan 25 April 2022

 

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

 

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

+44 (0) 1782 743 443

mraybould@portmeiriongroup.com

David Sproston, Group Finance Director

+44 (0) 1782 743 443

dsproston@portmeiriongroup.com

 

 

 

Hudson Sandler:

Dan de Belder

+44 (0) 207 796 4133

ddebelder@hudsonsandler.com

Nick Moore

 

nmoore@hudsonsandler.com

 

Panmure Gordon

 

 

(Nominated Adviser and Broker):

 

 

+44 (0) 207 886 2500

 

 

Freddy Crossley

Rupert Dearden

Corporate Broking

 

 

 

 

Singer Capital Markets

(Joint Broker):

 

+44 (0) 207 496 3000

 

Peter Steel / Asha Chotai

Investment Banking

 

Rachel Hayes

 

 

       

 

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