Finsbury Food Group PLC Executive LTIP Option Exercises - PDMR Dealings (5023Z)
10 Gennaio 2020 - 6:02PM
UK Regulatory
TIDMFIF
RNS Number : 5023Z
Finsbury Food Group PLC
10 January 2020
Date: 10 January 2020
On behalf Finsbury Food Group Plc ('Finsbury', 'the
of: Company' or 'the Group')
For immediate release
Finsbury Food Group Plc
Executive LTIP Option Exercises - PDMR Dealings
Finsbury Food Group Plc (AIM: FIF), a leading UK specialty
bakery manufacturer of cake, bread and morning goods for both the
retail and foodservice channels, announces the following
transactions which took place on 9 January 2020:
- John Duffy, Chief Executive Officer, exercised nil-cost
options over 1,137,395 ordinary shares of 1 pence each in the
Company ("Shares"). In line with the approach previously followed
in the settlement of vested options, Mr Duffy sacrificed 534,576 of
the resulting Shares to settle income tax and national insurance
liabilities.
- Steve Boyd, Group Finance Director, exercised nil-cost options
over 720,898 ordinary shares. Mr Boyd sacrificed 338,823 of the
resulting shares to settle income tax and national insurance
liabilities.
In each case, the options were originally granted on 26 June
2015 pursuant to the Finsbury Food Group Plc 2015 Performance Share
Plan (the "Plan") and vested in 2017 subject to the satisfaction of
performance conditions over a three year period. The options were
subject to a two-year holding period which has now expired. The
number of Shares Mr Duffy and Mr Boyd acquired on exercise of their
options include 28,514 and 18,073 additional Shares, respectively,
which the Remuneration Committee of the Board determined to be paid
to the option holders as dividend equivalents in recognition of
dividends which have arisen since options became exercisable.
Following the above exercises, the Company has been informed by
Mr Duffy and Mr Boyd that they have sold all of the Shares
acquired. The Shares were acquired by the Finsbury Food Group Plc
Employee Benefit Trust ("EBT") at a price per Share of 98.35
pence.
Following completion of these transactions, Mr Duffy and Mr Boyd
hold 2,612,166 and 1,866,160 options over Shares respectively. Mr
Duffy also holds 10,781 Shares and is further interested in
2,432,898 Shares owned by his wife, Alice Duffy, representing in
aggregate approximately 1.9% of the Company's ordinary issued share
capital. Mr Boyd holds no Shares but is interested in 1,095,543
Shares owned by his wife, Nicola Boyd, representing approximately
0.8% of the Company's ordinary issued share capital.
The Company confirms that it intends to release its routine
pre-close interim trading update on 16 January 2020.
The Company's issued share capital comprises 130,383,361 Shares,
each with voting rights. The figure of 130,383,361 Shares may
therefore be used by shareholders in the Company as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in, the share capital of the Company under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.
-S -
For further information:
Finsbury Food Group www.finsburyfoods.co.uk 029 20 357 500
John Duffy (Chief Executive Officer)
Steve Boyd (Finance Director)
Cenkos Securities
Max Hartley (Corporate Finance)
Alma PR finsbury@almapr.co.uk 020 3405 0205
Rebecca Sanders-Hewett
Sam Modlin
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name: John Duffy
-------------------------------- ---------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------
a) Position/Status: Chief Executive Officer
-------------------------------- ---------------------------------------------
b) Initial Notification/Amendment: Initial Notification
-------------------------------- ---------------------------------------------
3 Details of the issuer, emission allowance market participation,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name: Finsbury Food Group Plc
-------------------------------- ---------------------------------------------
b) LEI: 213800NP5Y3DYJM1MF44
-------------------------------- ---------------------------------------------
4. Details of 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 Ordinary Shares of 1 pence
instrument: each
Identification code: ISIN: GB0009186429
-------------------------------- ---------------------------------------------
b) Nature of the transaction: 1. Acquisition of shares for
nil cost in connection with
the Finsbury Food Group Plc
2015 Performance Share Plan
2. Sacrifice of shares in satisfaction
of tax liabilities
3. Sale of shares
-------------------------------- ---------------------------------------------
c) Price(s) and volume(s): Acquisition of Shares Price Volume
Nil-cost 1,137,395
----------
Sacrifice of Shares Price Volume
Nil-cost 534,576
--------
Sale of Shares Price Volume
98.35 602,819
--------
---------------------------------------------
d) Aggregated volume: N/A
Price:
---------------------------------------------
e) Date of the Transaction: 9 January 2020
-------------------------------- ---------------------------------------------
f) Place of the Transaction: Outside a trading venue
-------------------------------- ---------------------------------------------
1 Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Stephen Boyd
-------------------------------- ---------------------------------------------
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 participation,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------
a) Name: Finsbury Food Group Plc
-------------------------------- ---------------------------------------------
b) LEI: 213800NP5Y3DYJM1MF44
-------------------------------- ---------------------------------------------
4. Details of 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 Ordinary Shares of 1 pence each
instrument: ISIN: GB0009186429
Identification code:
-------------------------------- ---------------------------------------------
b) Nature of the transaction: 1. Acquisition of shares for
nil cost in connection with
the Finsbury Food Group Plc
2015 Performance Share Plan
2. Sacrifice of shares in satisfaction
of tax liabilities
3. Sale of shares
-------------------------------- ---------------------------------------------
c) Price(s) and volume(s): Acquisition of Shares Price Volume
Nil-cost 720,898
--------
Sacrifice of Shares Price Volume
Nil-cost 338,823
--------
Sale of Shares Price Volume
98.35 382,075
--------
-------------------------------- ---------------------------------------------
d) Aggregated volume: N/A
Price:
-------------------------------- ---------------------------------------------
e) Date of the Transaction: 9 January 2020
-------------------------------- ---------------------------------------------
f) Place of the Transaction: Outside a trading venue
-------------------------------- ---------------------------------------------
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END
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January 10, 2020 12:02 ET (17:02 GMT)
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