TIDMABF

RNS Number : 5245U

Associated British Foods PLC

23 November 2023

Associated British Foods plc

Director/PDMR Shareholdings

23 November 2023

Vesting and sale of shares

Ordinary shares of 5(15/22) pence in Associated British Foods plc (the 'Company'), awarded on 20 November 2020 under the terms of the Associated British Foods plc 2016 Long-Term Incentive Plan (the 'LTIP Plan') and the Associated British Foods plc 2016 Short-Term Incentive Plan (the 'STIP Plan'), vested and were released on 20 November 2023 to the Company's Chief Executive, George Weston, as follows:

 
 Director         No. of shares acquired       No. of shares acquired 
                   on vesting under the LTIP    on vesting under the 
                   Plan                         STIP Plan 
 George Weston    63,063                       13,484 
                 ---------------------------  ----------------------- 
 

On 21 November 2023, George Weston sold 36,086 shares at an average price of 2349.5488 p per share for the purpose of meeting his tax liabilities on the shares acquired in respect of the above.

Conditional allocation of shares

A conditional allocation of ordinary shares of 5(15/22) pence in the Company was made to each of the following directors of the Company on 23 November 2023 under the terms of the Restricted Share Plan 2022 (RSP) and the STIP Plan (together the 'Plans'):

 
 Director         No. of shares conditionally   No. of shares conditionally 
                   allocated under the RSP       allocated under the STIP 
                                                 Plan 
 George Weston    61,293                        24,517 
                 ----------------------------  ---------------------------- 
 Eoin Tonge       38,374                        15,350 
                 ----------------------------  ---------------------------- 
 

The allocation was made on the basis of an allocation price of 2361.6 p (being the average of the daily closing mid-market prices for the shares over the five consecutive business days 16 to 22 November 2023 inclusive) in accordance with the terms of the Plans.

The notifications for the directors below, which are made in accordance with the requirements of Article 19 of the Market Abuse Regulation, provide further detail.

ASSOCIATED BRITISH FOODS PLC

DIRECTOR/PDMR SHAREHOLDING

 
      Details of the person discharging managerial responsibilities/person 
  1    closely associated 
 a)   Name                       George Weston 
     =========================  ================================================= 
      Reason for the notification 
  2 
     ============================================================================ 
 a)   Position/status            Chief Executive 
     =========================  ================================================= 
 b)   Initial notification/      Initial notification 
       Amendment 
     =========================  ================================================= 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ============================================================================ 
 a)   Name                       Associated British Foods plc 
     =========================  ================================================= 
 b)   LEI                        GBQKSY6W7G0OHCQ8OQ72 
     =========================  ================================================= 
      Details of the transaction(s): section to be repeated for 
  4    (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             Ordinary shares of 5(15/22) p 
       the financial 
       instrument, type 
       of instrument 
                                  GB0006731235 
       Identification 
       code 
     =========================  ================================================= 
 b)   Nature of the              Acquisition of shares on the vesting and release 
       transaction                of an award under the terms of the Associated 
                                  British Foods plc Long--Term Incentive Plan. 
     =========================  ================================================= 
 c)   Price(s) and                 Price(s)    Volume(s) 
       volume(s)                    Nil         63,063 
                                               ---------- 
     =========================  ================================================= 
 d)   Aggregated information     N/A 
        *    Aggregated volume 
 
 
        *    Price 
     =========================  ================================================= 
 e)   Date of the transaction    2023-11-20 
       [YYYY-MM-DD] 
     =========================  ================================================= 
 f)   Place of the               Outside a trading venue 
       transaction 
     =========================  ================================================= 
 
 
      Details of the person discharging managerial responsibilities/person 
  1    closely associated 
 a)   Name                       George Weston 
     =========================  ============================================ 
      Reason for the notification 
  2 
     ======================================================================= 
 a)   Position/status            Chief Executive 
     =========================  ============================================ 
 b)   Initial notification/      Initial notification 
       Amendment 
     =========================  ============================================ 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ======================================================================= 
 a)   Name                       Associated British Foods plc 
     =========================  ============================================ 
 b)   LEI                        GBQKSY6W7G0OHCQ8OQ72 
     =========================  ============================================ 
      Details of the transaction(s): section to be repeated for 
  4    (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             Ordinary shares of 5(15/22) p 
       the financial 
       instrument, type 
       of instrument 
                                  GB0006731235 
       Identification 
       code 
     =========================  ============================================ 
 b)   Nature of the              Acquisition of shares on the vesting and 
       transaction                release of an award under the terms of the 
                                  Associated British Foods plc Short--Term 
                                  Incentive Plan. 
     =========================  ============================================ 
 c)   Price(s) and                 Price(s)    Volume(s) 
       volume(s)                    Nil         13,484 
                                               ---------- 
     =========================  ============================================ 
 d)   Aggregated information     N/A 
        *    Aggregated volume 
 
 
        *    Price 
     =========================  ============================================ 
 e)   Date of the transaction    2023-11-20 
       [YYYY-MM-DD] 
     =========================  ============================================ 
 f)   Place of the               Outside a trading venue 
       transaction 
     =========================  ============================================ 
 
 
      Details of the person discharging managerial responsibilities/person 
  1    closely associated 
 a)   Name                         George Weston 
     ===========================  ========================================== 
      Reason for the notification 
  2 
     ======================================================================= 
 a)   Position/status              Chief Executive 
     ===========================  ========================================== 
 b)   Initial notification/        Initial notification 
       Amendment 
     ===========================  ========================================== 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ======================================================================= 
 a)   Name                         Associated British Foods plc 
     ===========================  ========================================== 
 b)   LEI                          GBQKSY6W7G0OHCQ8OQ72 
     ===========================  ========================================== 
      Details of the transaction(s): section to be repeated for 
  4    (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               Ordinary shares of 5(15/22) p 
       the financial 
       instrument, type 
       of instrument 
                                    GB0006731235 
       Identification 
       code 
     ===========================  ========================================== 
 b)   Nature of the                Sale of shares to cover tax liabilities 
       transaction 
     ===========================  ========================================== 
 c)   Price(s) and                   Price(s)     Volume(s) 
       volume(s)                      2349.5488p   36,086 
                                                  ---------- 
     ===========================  ========================================== 
 d)   Aggregated information       N/A 
        *    Aggregated volume 
 
 
        *    Price 
     ===========================  ========================================== 
 e)   Date of the transaction      2023-11-21 
       [YYYY-MM-DD] 
     ===========================  ========================================== 
 f)   Place of the                 London Stock Exchange (XLON) 
       transaction 
     ===========================  ========================================== 
 
 
      Details of the person discharging managerial responsibilities/person 
  1    closely associated 
 a)   Name                       George Weston 
     =========================  ================================================ 
      Reason for the notification 
  2 
     =========================================================================== 
 a)   Position/status            Chief Executive 
     =========================  ================================================ 
 b)   Initial notification/      Initial notification 
       Amendment 
     =========================  ================================================ 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     =========================================================================== 
 a)   Name                       Associated British Foods plc 
     =========================  ================================================ 
 b)   LEI                        GBQKSY6W7G0OHCQ8OQ72 
     =========================  ================================================ 
      Details of the transaction(s): section to be repeated for 
  4    (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             Ordinary shares of 5(15/22) p 
       the financial 
       instrument, type 
       of instrument 
                                  GB0006731235 
       Identification 
       code 
     =========================  ================================================ 
 b)   Nature of the              Grant of conditional award under the terms 
       transaction                of the Associated British Foods plc Restricted 
                                  Share Plan 2022, vesting in 2026, subject 
                                  to certain performance underpins. 
     =========================  ================================================ 
 c)   Price(s) and                 Price(s)    Volume(s) 
       volume(s)                    Nil         61,293 
                                               ---------- 
     =========================  ================================================ 
 d)   Aggregated information     N/A 
        *    Aggregated volume 
 
 
        *    Price 
     =========================  ================================================ 
 e)   Date of the transaction    2023-11-23 
       [YYYY-MM-DD] 
     =========================  ================================================ 
 f)   Place of the               Outside a trading venue 
       transaction 
     =========================  ================================================ 
 
 
      Details of the person discharging managerial responsibilities/person 
  1    closely associated 
 a)   Name                       George Weston 
     =========================  ============================================= 
      Reason for the notification 
  2 
     ======================================================================== 
 a)   Position/status            Chief Executive 
     =========================  ============================================= 
 b)   Initial notification/      Initial notification 
       Amendment 
     =========================  ============================================= 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ======================================================================== 
 a)   Name                       Associated British Foods plc 
     =========================  ============================================= 
 b)   LEI                        GBQKSY6W7G0OHCQ8OQ72 
     =========================  ============================================= 
      Details of the transaction(s): section to be repeated for 
  4    (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             Ordinary shares of 5(15/22) p 
       the financial 
       instrument, type 
       of instrument 
                                  GB0006731235 
       Identification 
       code 
     =========================  ============================================= 
 b)   Nature of the              Grant of conditional award under the terms 
       transaction                of the Associated British Foods plc 2016 
                                  Short-Term Incentive Plan, vesting in 2026, 
                                  subject to certain performance conditions. 
     =========================  ============================================= 
 c)   Price(s) and                 Price(s)    Volume(s) 
       volume(s)                    Nil         24,517 
                                               ---------- 
     =========================  ============================================= 
 d)   Aggregated information     N/A 
        *    Aggregated volume 
 
 
        *    Price 
     =========================  ============================================= 
 e)   Date of the transaction    2023-11-23 
       [YYYY-MM-DD] 
     =========================  ============================================= 
 f)   Place of the               Outside a trading venue 
       transaction 
     =========================  ============================================= 
 
 
      Details of the person discharging managerial responsibilities/person 
  1    closely associated 
 a)   Name                       Eoin Tonge 
     =========================  ================================================ 
      Reason for the notification 
  2 
     =========================================================================== 
 a)   Position/status            Finance Director 
     =========================  ================================================ 
 b)   Initial notification/      Initial notification 
       Amendment 
     =========================  ================================================ 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     =========================================================================== 
 a)   Name                       Associated British Foods plc 
     =========================  ================================================ 
 b)   LEI                        GBQKSY6W7G0OHCQ8OQ72 
     =========================  ================================================ 
      Details of the transaction(s): section to be repeated for 
  4    (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             Ordinary shares of 5(15/22) p 
       the financial 
       instrument, type 
       of instrument 
                                  GB0006731235 
       Identification 
       code 
     =========================  ================================================ 
 b)   Nature of the              Grant of conditional award under the terms 
       transaction                of the Associated British Foods plc Restricted 
                                  Share Plan 2022, vesting in 2026, subject 
                                  to certain performance underpins. 
     =========================  ================================================ 
 c)   Price(s) and                 Price(s)    Volume(s) 
       volume(s)                    Nil         38,374 
                                               ---------- 
     =========================  ================================================ 
 d)   Aggregated information     N/A 
        *    Aggregated volume 
 
 
        *    Price 
     =========================  ================================================ 
 e)   Date of the transaction    2023-11-23 
       [YYYY-MM-DD] 
     =========================  ================================================ 
 f)   Place of the               Outside a trading venue 
       transaction 
     =========================  ================================================ 
 
 
      Details of the person discharging managerial responsibilities/person 
  1    closely associated 
 a)   Name                       Eoin Tonge 
     =========================  ============================================= 
      Reason for the notification 
  2 
     ======================================================================== 
 a)   Position/status            Finance Director 
     =========================  ============================================= 
 b)   Initial notification/      Initial notification 
       Amendment 
     =========================  ============================================= 
      Details of the issuer, emission allowance market participant, 
  3    auction platform, auctioneer or auction monitor 
     ======================================================================== 
 a)   Name                       Associated British Foods plc 
     =========================  ============================================= 
 b)   LEI                        GBQKSY6W7G0OHCQ8OQ72 
     =========================  ============================================= 
      Details of the transaction(s): section to be repeated for 
  4    (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             Ordinary shares of 5(15/22) p 
       the financial 
       instrument, type 
       of instrument 
                                  GB0006731235 
       Identification 
       code 
     =========================  ============================================= 
 b)   Nature of the              Grant of conditional award under the terms 
       transaction                of the Associated British Foods plc 2016 
                                  Short-Term Incentive Plan, vesting in 2026, 
                                  subject to certain performance conditions. 
     =========================  ============================================= 
 c)   Price(s) and                 Price(s)    Volume(s) 
       volume(s)                    Nil         15,350 
                                               ---------- 
     =========================  ============================================= 
 d)   Aggregated information     N/A 
        *    Aggregated volume 
 
 
        *    Price 
     =========================  ============================================= 
 e)   Date of the transaction    2023-11-23 
       [YYYY-MM-DD] 
     =========================  ============================================= 
 f)   Place of the               Outside a trading venue 
       transaction 
     =========================  ============================================= 
 

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END

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(END) Dow Jones Newswires

November 23, 2023 12:32 ET (17:32 GMT)

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