RNS Number : 8471C
Bakkavor Group PLC
13 October 2022
 


13 October 2022

 

Bakkavor Group plc

 

(the "Company" or "Bakkavor")

 

NOTIFICATION DEALING WITH GRANT OF AWARDS TO PDMRS


Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them in accordance with the Market Abuse Regulations.


LTIP Awards


On 13 October 2022 the following awards over ordinary shares of 2 pence in Bakkavor Group plc were granted under the Bakkavor Group plc Long Term Incentive Plan to the following persons discharging managerial responsibilities:


PDMR

No. of shares under Award

Type of Award

Pete Laport

137,573

Performance Share Award

Pete Laport

68,786

Restricted Share Award



The awards are structured as conditional awards.


The awards will ordinarily vest on the third anniversary of grant subject to the grantee's continued service and, in the case of the Performance Share Award, only to the extent to which the performance conditions set for the award are satisfied.


The performance conditions for the Performance Share Award relate to financial targets set for the Bakkavor USA business for the 2024 financial year.


Notifications


Details of the full notifications received by the Company are set out below.


1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Pete Laport

2

Reason for Notification

a)

Position/status

President and Chief Executive Officer of Bakkavor USA

b)

Initial notification/Amendment

Initial Announcement

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

Ordinary Shares of 2 pence each in Bakkavor Group plc

 

 

GB00BF8J3Z99

b)

Nature of the transaction

Grant of conditional share awards under the Bakkavor Group plc Long Term Incentive Plan. One award is a Performance Share Award and the other a Restricted Share Award both of which will ordinarily vest three years from the date of grant, subject to continued service. The Performance Share Award will only vest to the extent to which performance conditions are met. No performance conditions apply to the Restricted Share Award.

c)

Price(s) and volume(s)

Price(s)

Volume(s)

Nil

 

 

Nil

137,573 Performance Share Award under LTIP

 

68,786 Restricted Share Award under LTIP


d)

Aggregated information

 

-       Aggregated volume

-     Price

 

 

206,359

Nil

e)

Date of the transaction

13 October 2022

f)

Place of the transaction

Outside a trading venue

 

 

 

 

-Ends-

Enquiries

Company Secretarial:

Annabel Tagoe-Bannerman, Group General Counsel and Company Secretary                       +44 (0) 20 7908 6130

 

Institutional investors and analysts:

Emily Daw, Head of Investor Relations                                                                                      +44 (0) 20 7908 6114

About Bakkavor

We are the leading provider of fresh prepared food ("FPF") in the UK, and our presence in the US and China positions the Group well in these high-growth markets. We leverage our consumer insight and scale to provide innovative food that offers quality, choice, convenience, and freshness. Our c.19,000 colleagues operate from 46 sites across our three markets supplying a portfolio of over 3,200 products across meals, pizza & bread, salads and desserts to leading grocery retailers in the UK and US, and international food brands in China.

 

LEI number: 213800COL7AD54YU9949

 

 

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