TIDMPMP
RNS Number : 2876Y
Portmeirion Group PLC
03 May 2023
3 May 2023
Portmeirion Group PLC
("Portmeirion" or the "Company")
Grant of Options
The Portmeirion Group 2022 Approved Share Option Plan and The
Portmeirion Group 2022 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 2 May 2023, the
following transactions occurred for the persons discharging
managerial responsibilities ("PDMRs") as shown below:
Option Plans number Deferred Plan number
of options granted of options granted
at an exercise price at an exercise price
of GBP4.69 per Ordinary of GBP1.00 (B)
Share (A)
Company directors/officers:
Michael Raybould Chief Executive 50,000 5,275
Michael Knapper Group Operations Director 35,000 2,686
William Robedee Global Sales Director 35,000 3,864
David Sproston Group Finance Director 35,000 2,087
Moira MacDonald Group Company Secretary 15,000 -
------------------------ ---------------------
Total: 170,000 13,912
Note:
(A) Grant of options under Option Plans.
(B) Grant of new options under Deferred Plan against 2022
performance and incentive arrangements (further detail below).
The Company granted 170,000 options over Ordinary Shares to the
PDMRs shown above and a further 153,000 options over Ordinary
Shares to other senior managers pursuant to the Option Plans. T he
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 2 May 2023 are normally only
exercisable if t he increase in the average of the Company's basic
adjusted (for changes in accounting standards and exceptional
items) earnings per share for each of the three years ending 31
December 2023, 31 December 2024 and 31 December 2025 is at least
10% higher than that for the year ended 31 December 2022. The
calculation of basic adjusted earnings per share shall take account
of the number of shares in issue and effective tax rates at the
date of grant.
In addition, the Company granted 13,912 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
2022.
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 Total number Ordinary Shares
of options of Ordinary percentage
over Ordinary Shares with of Company's
Shares voting rights Ordinary Shares
with voting
rights
Michael Raybould 156,088 11,886 0.08%
Michael Knapper 98,192 8,191 0.06%
William Robedee 100,915 - -
David Sproston 96,366 3,815 0.03%
Moira MacDonald 38,500 2,693 0.02%
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 Michael Raybould
------------------------------- -------------------------------------------------------------------------
2. Reason for the notification
----------------------------------------------------------------------------------------------------------
a) Position/status Chief Executive
------------------------------- -------------------------------------------------------------------------
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 Ordinary Shares of 5 pence each
instrument
------------------------------- -------------------------------------------------------------------------
b) Identification code GB0006957293
------------------------------- -------------------------------------------------------------------------
c) Nature of the transactions (A) Performance related, Grant of
options under Option Plans. Exercise
period 3 May 2026 - 1 May 2033.
(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: GBP4.69 per Ordinary
Share
Volume(s)
Options over Ordinary
Shares
Michael Raybould 50,000
----------------------
In respect of (B) Grant of options
under Deferred Plan
Price at grant: Nil
Exercise Price (per PDMR in respect
of all options granted): GBP1 Options over Ordinary
Shares
Michael Raybould 5,275
----------------------
------------------------------- -------------------------------------------------------------------------
e) Aggregated information In respect of (A) Grant of options
* Aggregated volume under Option Plans
Nil, grant of options only
In respect of (B) Grant of options
* Price under Deferred Plan
Nil, grant of options only
------------------------------- -------------------------------------------------------------------------
f) Date of the transactions
In respect of (A) Grant of options
under Option Plans - 2 May 2023
In respect of (B) Grant of options
under Deferred Plan 2 May 2023
------------------------------- -------------------------------------------------------------------------
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
------------------------------- -------------------------------------------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name Michael Knapper
------------------------------- ------------------------------------------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------------------------------------
a) Position/status Group Operations Director
------------------------------- ------------------------------------------------------------------------
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 Ordinary Shares of 5 pence each
instrument
------------------------------- ------------------------------------------------------------------------
b) Identification code GB0006957293
------------------------------- ------------------------------------------------------------------------
c) Nature of the transactions (A) Performance related, Grant of
options under Option Plans. Exercise
period 3 May 2026 - 1 May 2033.
(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: GBP4.69 per Ordinary
Share
Volume(s)
Options over Ordinary
Shares
Michael Knapper 35,000
----------------------
In respect of (B) Grant of options
under Deferred Plan
Price at grant: Nil
Exercise Price (per PDMR in respect
of all options granted): GBP1 Options over Ordinary
Shares
Michael Knapper 2,686
----------------------
------------------------------- ------------------------------------------------------------------------
e) Aggregated information In respect of (A) Grant of options
* Aggregated volume under Option Plans
Nil, grant of options only
In respect of (B) Grant of options
* Price under Deferred Plan
Nil, grant of options only
------------------------------- ------------------------------------------------------------------------
f) Date of the transactions
In respect of (A) Grant of options
under Option Plans - 2 May 2023
In respect of (B) Grant of options
under Deferred Plan 2 May 2023
------------------------------- ------------------------------------------------------------------------
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
------------------------------- ------------------------------------------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name William Robedee
------------------------------- ------------------------------------------------------------------------
2. Reason for the notification
---------------------------------------------------------------------------------------------------------
a) Position/status Global Sales Director
------------------------------- ------------------------------------------------------------------------
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 Ordinary Shares of 5 pence each
instrument
------------------------------- ------------------------------------------------------------------------
b) Identification code GB0006957293
------------------------------- ------------------------------------------------------------------------
c) Nature of the transactions (A) Performance related, Grant of
options under Option Plans. Exercise
period 3 May 2026 - 1 May 2033.
(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: GBP4.69 per Ordinary
Share
Volume(s)
Options over Ordinary
Shares
William Robedee 35,000
----------------------
In respect of (B) Grant of options
under Deferred Plan
Price at grant: Nil
Exercise Price (per PDMR in respect
of all options granted): GBP1 Options over Ordinary
Shares
William Robedee 3,864
----------------------
------------------------------- ------------------------------------------------------------------------
e) Aggregated information In respect of (A) Grant of options
* Aggregated volume under Option Plans
Nil, grant of options only
In respect of (B) Grant of options
* Price under Deferred Plan
Nil, grant of options only
------------------------------- ------------------------------------------------------------------------
f) Date of the transactions
In respect of (A) Grant of options
under Option Plans - 2 May 2023
In respect of (B) Grant of options
under Deferred Plan 2 May 2023
------------------------------- ------------------------------------------------------------------------
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
------------------------------- ------------------------------------------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name David Sproston
------------------------------- -----------------------------------------------------------------------
2. Reason for the notification
--------------------------------------------------------------------------------------------------------
a) Position/status Group Finance Director
------------------------------- -----------------------------------------------------------------------
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 Ordinary Shares of 5 pence each
instrument
------------------------------- -----------------------------------------------------------------------
b) Identification code GB0006957293
------------------------------- -----------------------------------------------------------------------
c) Nature of the transactions (A) Performance related, Grant of
options under Option Plans. Exercise
period 3 May 2026 - 1 May 2033.
(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: GBP4.69 per Ordinary
Share
Volume(s)
Options over Ordinary
Shares
David Sproston 35,000
----------------------
In respect of (B) Grant of options
under Deferred Plan
Price at grant: Nil
Exercise Price (per PDMR in respect
of all options granted): GBP1 Options over Ordinary
Shares
David Sproston 2,087
----------------------
------------------------------- -----------------------------------------------------------------------
e) Aggregated information In respect of (A) Grant of options
* Aggregated volume under Option Plans
Nil, grant of options only
In respect of (B) Grant of options
* Price under Deferred Plan
Nil, grant of options only
------------------------------- -----------------------------------------------------------------------
f) Date of the transactions
In respect of (A) Grant of options
under Option Plans - 2 May 2023
In respect of (B) Grant of options
under Deferred Plan 2 May 2023
------------------------------- -----------------------------------------------------------------------
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
------------------------------- -----------------------------------------------------------------------
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name Moira MacDonald
------------------------------- -------------------------------------------
2. Reason for the notification
----------------------------------------------------------------------------
a) Position/status Group Company Secretary
------------------------------- -------------------------------------------
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 Ordinary Shares of 5 pence each
instrument
------------------------------- -------------------------------------------
b) Identification code GB0006957293
------------------------------- -------------------------------------------
c) Nature of the transactions (A) Performance related, Grant of
options under Option Plans. Exercise
period 3 May 2026 - 1 May 2033.
------------------------------- -------------------------------------------
d) Price(s) and volume(s) In respect of (A) Grant of options
under Option Plans
Price at grant: Nil
Exercise Price: GBP4.69 per Ordinary
Share
Volume(s)
Options over Ordinary
Shares
Moira MacDonald 15,000
----------------------
------------------------------- -------------------------------------------
e) Aggregated information In respect of (A) Grant of options
* Aggregated volume under Option Plans
Nil, grant of options only
* Price
------------------------------- -------------------------------------------
f) Date of the transactions
In respect of (A) Grant of options
under Option Plans - 2 May 2023
------------------------------- -------------------------------------------
g) Place of the transactions In respect of (A) Grant of options
under Option Plans - - 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 mraybould@portmeiriongroup.com
743 443
David Sproston, Group Finance +44 (0) 1782 dsproston@portmeiriongroup.com
Director 743 443
Hudson Sandler:
Dan de Belder +44 (0) 207 796 portmeirion@hudsonsandler.com
4133
Nick Moore
Emily Brooker
Shore Capital:
(Nominated Adviser and Joint +44 (0) 207 408
Broker): 4090
Patrick Castle Corporate Advisory
Lucy Bowden
Malachy McEntyre Corporate Broking
Singer Capital Markets +44 (0) 207 496
(Joint Broker): 3000
Peter Steel Investment Banking
Asha Chotai
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END
DSHSSIFSDEDSEDI
(END) Dow Jones Newswires
May 03, 2023 06:39 ET (10:39 GMT)
Portmeirion (LSE:PMP)
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