Bakkavor Group PLC
Transaction by PDMR
26 March 2024
Bakkavor Group plc
(the 'Company' or 'Bakkavor')
Notification and public disclosure of transaction by PDMR
Bakkavor Group plc (LON: BAKK) announces that on 22 March 2024 ordinary shares of 2 pence each in the Company ('Shares') were acquired by the following person discharging managerial responsibilities ('PDMR') in connection with the exercise/settlement of vested awards held under the Company's Long Term Incentive Plans ("LTIP") as noted in the table below.
The table also notes the related same day sale by the PDMR of a number of the Shares to satisfy the related income tax and employees' national insurance liabilities ('Tax Liability') and Exercise Price (where relevant), together with the resulting net number of Shares retained.
| PDMR | Award | Number of Shares acquired | Number of Shares sold for Tax Liability and Exercise Price | Number of Shares retained |
| Dave Selleck | 2017 LTIP Award
| 106,167 at an Exercise Price of 76.4p per Share | 91,910 | 14,257 |
| Dave Selleck | 2020 LTIP Awards
| 239,001 for nil cost | 112,714 | 126,287 |
The information set out below is provided in accordance with the requirements of Article 19(3) of the UK Market Abuse Regulation.
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Dave Selleck | ||||
| 2 | Reason for Notification | |||||
| a) | Position/status | Managing Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 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 | 1. Shares acquired for 76.4p per Share on the exercise of a vested option held under the Company's pre-IPO LTIP. 2. Shares acquired for nil consideration on the exercise of vested nil cost options held under the Company's LTIP. | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information - Aggregated volume - Price |
Not applicable - single transaction | ||||
| e) | Date of the transaction | 22 March 2024 | ||||
| f) | Place of the transaction | Outside of a trading venue | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Dave Selleck | ||||
| 2 | Reason for Notification | |||||
| a) | Position/status | Managing Director | ||||
| b) | Initial notification/Amendment | Initial notification | ||||
| 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 | Disposals to cover Tax Liability and exercise costs (where relevant). | ||||
| c) | Price(s) and volume(s)
|
| ||||
| d) | Aggregated information - Aggregated volume - Price |
Not applicable - single transaction Not applicable - single transaction | ||||
| e) | Date of the transaction | 22 March 2024 | ||||
| f) | Place of the transaction | London Stock Exchange (XLON) | ||||
ENQUIRIES
Institutional investors and analysts:
Ben Waldron, Chief Financial Officer
Richard Wooldridge, Interim Head of Investor Relations +44 (0) 20 7908 6114
Annabel Tagoe-Bannerman, Group General Counsel & Company Secretary +44 (0) 20 7908 6130
Financial media: bakkavor@mhpgroup.com
Katie Hunt, MHP +44 (0) 20 3128 8100
+44 (0) 7884 494 112
Rachel Farrington, MHP +44 (0) 7801 894 577
Oliver Hughes, MHP +44 (0) 7885 224 532
About Bakkavor
We are the leading provider of fresh prepared food 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. Around 18,000 colleagues operate from 44 sites across our three markets, supplying a portfolio of over 3,000 products across meals, pizza & bread, salads and desserts to leading grocery retailers in the UK and US, and international food brands in China. Find out more at www.bakkavor.com.
LEI number: 213800COL7AD54YU9949
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