REG - Portmeirion Group - Exercise of Options and PDMR Shareholdings <Origin Href="QuoteRef">PMGR.L</Origin>
RNS Number : 4966NPortmeirion Group PLC09 August 20179 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 85,071Ordinary 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
steele_clan@msn.com
Non-executive Chairman
Mike Raybould
+44 (0) 1782 744 721
mraybould@portmeiriongroup.com
Group Finance Director
Bell Pottinger:
Dan de Belder
Robert McGowan Stuart
+44 (0) 203 772 2561
+44 (0) 203 772 2553
rmcgowanstuart@bellpottinger.com
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 RNSThe company news service from the London Stock ExchangeENDDSHEAXPNEFSXEEF
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