RNS
Macfarlane Group PLC

Macfarlane Group PLC - Director/PDMR Shareholding

RNS Number : 8456X
Macfarlane Group PLC
02 September 2020
 

 

2nd September 2020

 

Macfarlane Group PLC

Director/PDMR Shareholding

 

On 2nd September 2020, Peter D. Atkinson (Chief Executive), John Love (Group Finance Director) and Ivor Gray (Company Secretary) were granted conditional share awards over Macfarlane Group PLC ordinary shares of 25p as set out below, under the terms of the Company's Performance Share Plan ('PSP').

After consideration, the Remuneration Committee determined that the 2020 grants would be maintained at the standard levels. We acknowledge that, in common with many other companies we have seen a fall in our share price due to external factors. Under the LTIP rules, the Remuneration Committee has full discretion to ensure that the final outcome of the awards reflects all relevant factors, including shareholders' feedback and consideration of any potential windfall gains.

The conditional share award is subject to the achievement of performance conditions and if it vests will be released in accordance with the Plan rules. The award is also subject to an additional holding period of two years from the date on which the award vests.

Directors' Shareholdings and Share Interests

Name

Awards

Vesting Date

Total Options Following Grant

Beneficial*

Peter D. Atkinson

395,672

September 2023

725,795

854,172

John Love

195,999

September 2023

359,524

800,000

Ivor Gray

124,726

September 2023

181,992

54,836

*including connected persons

The PSP awards made by Macfarlane represent awards over shares worth 100% of the Executive Directors' base salaries, as permitted by the Directors' remuneration policy.

The PSP awards made to Mr. Gray represent an award over shares worth 75% of base salary.

The forms required under the EU Market Abuse Regulation follow.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Peter D. Atkinson

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

Macfarlane Group PLC

b)

LEI

213800LVRYDERSJAAZ73

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

Conditional awards over ordinary shares of 25p each

 

 

 

Identification code

N/A

 

 

b)

 

Nature of the transaction

 

Conditional share awards made under the Company's Performance Share Plan.

c)

Price(s) and volume(s)

Award over 395,672 conditional shares at nil cost under the Company's Performance Share Plan.

d)

 

Aggregated information

 

 

 

- Aggregated volume

N/A - single transaction

 

 

- Price

 

 

 

e)

 

Date of the transaction

 

2nd September 2020

f)

 

Place of the transaction

Grant of share awards occurred outside a trading venue.

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

John Love

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

Macfarlane Group PLC

b)

LEI

213800LVRYDERSJAAZ73

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

Conditional awards over ordinary shares of 25p each

 

 

 

Identification code

N/A

 

 

b)

 

Nature of the transaction

 

Conditional share awards made under the Company's Performance Share Plan.

c)

Price(s) and volume(s)

Award over 195,999 conditional shares at nil cost under the Company's Performance Share Plan.

d)

 

Aggregated information

 

 

 

- Aggregated volume

N/A - single transaction

 

 

- Price

 

 

 

e)

 

Date of the transaction

 

2nd September 2020

f)

 

Place of the transaction

Grant of share awards occurred outside a trading venue.

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Ivor Gray

2

 

Reason for the notification

 

a)

Position/status

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

Macfarlane Group PLC

b)

LEI

213800LVRYDERSJAAZ73

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

Conditional awards over ordinary shares of 25p each

 

 

 

Identification code

N/A

 

 

b)

 

Nature of the transaction

 

Conditional share awards made under the Company's Performance Share Plan.

c)

Price(s) and volume(s)

Award over 124,726 conditional shares at nil cost under the Company's Performance Share Plan.

d)

 

Aggregated information

 

 

 

- Aggregated volume

N/A - single transaction

 

 

- Price

 

 

 

e)

 

Date of the transaction

 

2nd September 2020

f)

 

Place of the transaction

Grant of share awards occurred outside a trading venue.

 

 

Further enquiries:

Macfarlane Group

Tel: 0141 333 9666

 

Stuart Paterson                                Chairman

 

 

 

 

 

Spreng Thomson

 

 

Callum Spreng

Mob: 07803 970103

 

Legal Entity Identifier (LEI):  213800LVRYDERSJAAZ73

Notes to Editors:

·      Macfarlane Group PLC is listed on the London Stock Exchange (LSE: MACF) in the Industrials Sector

·      The company is headquartered in Glasgow, Scotland and has more than 70 years' experience in the UK packaging industry.  Macfarlane Group's businesses are:

Packaging Distribution is the leading UK distributor of a comprehensive range of protective packaging products;

Manufacturing Operations which includes Labels who design and print high quality self-adhesive and resealable labels, principally for FMCG companies, and Packaging Design and Manufacture who design and produce protective packaging for high value, fragile products.

·      Macfarlane Group employs over 900 people at 31 sites, principally in the UK, but also in Ireland and Sweden.

·      The company has 15,000+ customers in the UK, Europe and the USA providing 600,000+ lines to a wide range of industry sectors including: consumer goods; food manufacturing; logistics; internet retail; mail order; electronics; defence and aerospace.

 

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