Portmeirion Group (PMP)

 

LSE:PMP: Executive Share Option Grants

Portmeirion Group

11 Aug 2017 12:41:21

Portmeirion Group

RNS Number : 8068N
Portmeirion Group PLC
11 August 2017
 

11 August 2017

 

 

 

 

Portmeirion Group PLC

(the "Company")

 

Executive Share Option Grants

 

The Company announces that, on 11 August 2017, it granted options to Directors and senior managers over a total of 193,000 ordinary shares of 5 pence each in the Company ("Ordinary Shares") pursuant to The Portmeirion 2012 Approved Share Option Plan and The Portmeirion 2012 Unapproved Share Option Plan (the "2012 Plans").

 

The options are subject to the achievement of performance criteria as determined by the Remuneration Committee, and as required under the 2012 Plans.  The options granted on 11 August 2017 are normally only exercisable if the increase in the average of the Group's basic adjusted earnings per share (as adjusted for changes in accounting standards and exceptional items) for each of the three years ending 31 December 2017, 31 December 2018 and 31 December 2019 is at least 13% higher than that for the year ended 31 December 2016. The exercise price of the options is in reference to the closing middle market price of an Ordinary Share on 10 August 2017, being the latest date prior to the grant. Of the total number of options granted, 145,000 options over Ordinary Shares were granted to persons discharging managerial responsibilities ("PDMRs") of the Company, as detailed below:

 

 

 

Number options granted

Exercise price per Ordinary Share

Exercise period

Company directors/officers:

Philip Atherton

Group Sales & Marketing Director

25,000

£9.60

12 August 2020 - 10 August 2027

Lawrence Bryan

Chief Executive

40,000

£9.60

12 August 2020 - 10 August 2027

Michael Raybould

Group Finance Director

30,000

£9.60

12 August 2020 - 10 August 2027

Michael Knapper

Operations Director

20,000

£9.60

12 August 2020 - 10 August 2027

Moira MacDonald

Group Company Secretary

7,500

£9.60

12 August 2020 - 10 August 2027

Subsidiary company directors:

Joanne Barber

Wax Lyrical Managing Director

7,500

£9.60

12 August 2020 - 10 August 2027

Samantha Pearce

HR Director

7,500

£9.60

12 August 2020 - 10 August 2027

Nigel Spencer

Production Director

7,500

£9.60

12 August 2020 - 10 August 2027

 

Total:

145,000

 

 

 

The total number of Ordinary Shares over which each PDMR holds options following this notification is:

 

 

Total number of options

over Ordinary Shares

Philip Atherton

60,467

Lawrence Bryan

94,394

Michael Raybould

30,000

Michael Knapper

31,000

Moira MacDonald

11,900

Joanne Barber

7,500

Samantha Pearce

11,900

Nigel Spencer

34,288

 

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:

Philip Atherton

Group Sales &

Marketing Director

Lawrence Bryan

Chief Executive

Michael Raybould

Group Finance Director

Michael Knapper

Operations Director

Moira MacDonald

Group Company Secretary

Subsidiary company directors:

Joanne Barber

Wax Lyrical Managing Director

Samantha Pearce

HR Director

Nigel Spencer

Production Director

 

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

Grant of options over Ordinary Shares

d)

Price(s) and volume(s)

Price at grant: Nil

Exercise Price:  960 pence per Ordinary Share

Volume(s)

 

Options over Ordinary Shares

Philip Atherton

25,000

Lawrence Bryan

40,000

Michael Raybould

30,000

Michael Knapper

20,000

Moira MacDonald

7,500

Joanne Barber

7,500

Samantha Pearce

7,500

Nigel Spencer

7,500

 

e)

Aggregated information

-     Aggregated volume

-     Price

Nil, grant of options only

f)

Date of the transactions

11 August 2017

f)

Place of the transactions

Off-market

 

Name of authorised official of issuer responsible for making notification:

 

Moira MacDonald

Company Secretary to Portmeirion Group PLC

 

ENQUIRIES:

 

Portmeirion Group PLC:

 

 

Dick Steele

+44 (0) 1782 744 721

[email protected]

Non-executive Chairman

Mike Raybould

 

+44 (0) 1782 744 721

 

[email protected]

Group Finance Director

 

 

 

Bell Pottinger:

 

 

Dan de Belder

Robert McGowan Stuart

+44 (0) 203 772 2561

+44 (0) 203 772 2553

[email protected]

[email protected]

 

 

 

Panmure Gordon

(Nominated Adviser and Broker):

 

+44 (0) 207 886 2500

 

Freddy Crossley/ Duncan Monteith

Corporate Finance

 

Tom Salvesen

Corporate Broking

 

 

Cantor Fitzgerald Europe

(Joint Broker):

 

+44 (0) 207 894 7000

 

Catherine Leftley /Marc Milmo

Corporate Finance

 

Mark Westcott

Sales

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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