TIDMPMP

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   Deferred Plan number 
                                                       of options granted     of options granted 
                                                     at an exercise price   at an exercise price 
                                                of 570 pence per Ordinary         of GBP1.00 (B) 
                                                                Share (A) 
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 
                           President of North 
William Robedee                       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. 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 25 April 2022 are normally only exercisable if t he 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     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           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 
                                                           -------------------------- 
                                                                   President of North 
                                         William Robedee                      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     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 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: GBP5.70 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): GBP1                     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      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 - 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           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        ddebelder@hudsonsandler.com 
                                   4133 
 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               +44 (0) 207 
  (Joint Broker):                     496 3000 
 Peter Steel / Asha Chotai          Investment Banking 
 Rachel Hayes 
 
 

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END

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April 26, 2022 08:49 ET (12:49 GMT)

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