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Portmeirion RNS Release

Exercise of Options and PDMR Shareholdings


RNS Number : 4966N
Portmeirion Group PLC
09 August 2017
 

9 August 2017

 

 

 

 

Portmeirion Group PLC

(the "Company")

 

Exercise of Options and PDMR Shareholdings

 

 

The Portmeirion 2012 Approved Share Option Plan and The Portmeirion 2012 Unapproved Share Option Plan (the "Option Plans") Exercises

 

The Company announces that, on 8 August 2017, the following persons discharging managerial responsibilities ("PDMRs") exercised options over ordinary shares of 5 pence each in the Company ("Ordinary Shares") which were granted pursuant to the Option Plans as detailed below:

 


Date of Grant

Exercise Price

per Ordinary Share in pence

Number of

options exercised

Philip Atherton

2 May 2013

610

30,000

Philip Atherton

30 April 2014

740

30,000

Lawrence Bryan

2 May 2013

610

45,000

Lawrence Bryan

30 April 2014

740

45,000

Michael Knapper

30 April 2014

740

10,000

Moira MacDonald

30 April 2014

740

4,0000



Total

164,000

 

Subsequently the Company was notified on 8 August 2017 that The Portmeirion Employees' Share Trust (the "Trust"), on 8 August 2017, transferred 78,929 Ordinary Shares to the Executive Directors following the exercise of certain options as detailed above.  In addition, on 8 August 2017, the Company issued 85,071 Ordinary Shares for the balance of the exercise of certain options as detailed above.

 

Application has been made for the issued 85,071   Ordinary Shares to be admitted to trading on AIM ("Admission") and trading of these Ordinary Shares is expected to commence on or around 15 August 2017.

 

Following Admission, the total number of Ordinary Shares held by the Company in treasury is 237,743, and the Company will have 11,090,104 Ordinary Shares in issue and 10,852,361 Ordinary Shares with voting rights. The figure of 10,852,361 Ordinary Shares may be used by shareholders of Portmeirion Group PLC as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

 

PDMR Shareholdings

 

Furthermore, on 8 August 2017, the PDMRs sold the following number of Ordinary Shares immediately upon the exercise of certain options, and in the case of Philip Atherton and Michael Knapper, who are building their shareholding in the Company, the amount being sufficient to pay the balance of associated costs and liabilities of exercise:

 


Number of Ordinary Shares received upon exercise of options

Number of Ordinary Shares sold

Sale Price

per Ordinary Share in pence

Total number of Ordinary Shares held at Admission

Percentage of Company's issued share capital at Admission

Philip Atherton

60,000

49,843

£9.65

10,549

0.10

Lawrence Bryan

90,000

90,000

£9.65

143,667

1.32

Michael Knapper

10,000

8,663

£9.65

1,337

0.01

Moira MacDonald

4,000

3,347

£9.65

2,153

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

 

Philip Atherton - Group Sales & Marketing Director

Lawrence Bryan - Chief Executive

Michael Knapper - Operations 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 instrument

Ordinary Shares of 5 pence each

b)

Identification code

GB0006957293

c)

Nature of the transactions

(A) Exercise of options over Ordinary Shares

(B) Sale of Ordinary Shares

 

d)

Price(s) and volume(s)

In respect of (A):

Price

Exercise price of 610 pence per Ordinary Share for options granted on 2 May 2013 and 740 pence per Ordinary Share for options granted on 30 April 2014

Volume(s)

Philip Atherton - Options over 30,000 Ordinary Shares at 610 pence per Ordinary Share and 30,000 Ordinary Shares at 740 pence per Ordinary Share.

Lawrence Bryan - Options over 45,000 Ordinary Shares at 610 pence per Ordinary Share and 45,000 Ordinary Shares at 740 pence per Ordinary Share.

Michael Knapper - Options over 10,000 Ordinary Shares at 740 pence per Ordinary Share.

Moira MacDonald - Options over 4,000 Ordinary Shares at 740 pence per Ordinary Share.

 

In respect of (B):

Price - 965 pence per Ordinary Share

Volume(s)

Philip Atherton - 49,843 Ordinary Shares

Lawrence Bryan - 90,000 Ordinary Shares

Michael Knapper - 8,663 Ordinary Shares

Moira MacDonald - 3,347 Ordinary Shares

 

e)

Aggregated information

-     Aggregated volume

-     Price

 

In respect of (A):

 


Aggregated cost of exercise

Philip Atherton

£405,000

Lawrence Bryan

£607,500

Michael Knapper

£74,000

Moira MacDonald

£29,600

 

In respect of (B):

 


Aggregated sales proceeds

Philip Atherton

£480,984.95

Lawrence Bryan

£868,500.00

Michael Knapper

£83,597.95

Moira MacDonald

£32,298.55

f)

Date of the transactions

8 August 2017

f)

Place of the transactions

(A) Off-market

(B) London Stock Exchange, AIM Market (XLON)

 

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


David Banks

Sales


 


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