Associated British Foods plc
Director/PDMR Shareholdings
25 November 2020
VESTING AND SALE OF STIP SHARES
Ordinary shares of 515/22 pence in Associated British Foods plc (the 'Company'), awarded under the terms of the Associated British Foods Short Term Incentive Plan on 20 November 2017 at an allocation price of 3076.2p per share vested and were released on 20 November 2020 to the Company's two executive directors as follows:
|
Director |
No. of shares acquired on vesting |
|
George Weston |
8,378 |
|
John Bason |
5,518 |
Over the period 20 to 23 November 2020, George Weston sold 3,950 shares at an average price of 2007.1p per share for the purpose of meeting his tax liability on the shares acquired on vesting. Over the same dates, John Bason sold 1,518 shares at an average price of 2007.1p per share, for the purpose of meeting part of his tax liability on the shares acquired on vesting.
CONDITIONAL ALLOCATION OF LTIP SHARES AND STIP SHARES
A conditional allocation of ordinary shares of 515/22 pence in the Company was made to each of the following directors of the Company 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'), (together the '2016 Plans'):
|
Director |
No. of shares conditionally allocated under the LTIP Plan |
No. of shares conditionally allocated under the STIP Plan |
|
George Weston |
107,873 |
26,968 |
|
John Bason |
71,255 |
17,814 |
The allocation was made on the basis of an allocation price of 2020.9 pence (being the average of the daily closing mid-market prices for the shares over the five business days from Friday 13 November to Thursday 19 November 2020 inclusive) in accordance with the terms of the 2016 Plans.
The notifications for each director 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
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name
|
George Weston
|
||||
|
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 |
Associated British Foods plc
|
||||
|
b) |
LEI |
GBQKSY6W7G0OHCQ8OQ72
|
||||
|
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
Identification code |
Ordinary shares of 515/22p
GB0006731235 |
||||
|
b) |
Nature of the transaction
|
Acquisition of shares on the vesting and release of an award under the terms of the Associated British Foods Short Term Incentive Plan |
||||
|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction [YYYY-MM-DD] |
2020-11-20
|
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
ASSOCIATED BRITISH FOODS PLC
DIRECTOR/PDMR SHAREHOLDING
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name
|
George Weston
|
||||
|
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 |
Associated British Foods plc
|
||||
|
b) |
LEI |
GBQKSY6W7G0OHCQ8OQ72
|
||||
|
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
Identification code |
Ordinary shares of 515/22p
GB0006731235 |
||||
|
b) |
Nature of the transaction
|
Sale of a proportion of the shares acquired on the vesting and release of an award under the terms of the Associated British Foods Short Term Incentive Plan to cover tax liability. |
||||
|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction [YYYY-MM-DD] |
2020-11-23
|
||||
|
f) |
Place of the transaction |
London Stock Exchange (XLON) |
||||
ASSOCIATED BRITISH FOODS PLC
DIRECTOR/PDMR SHAREHOLDING
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name
|
George Weston
|
||||
|
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 |
Associated British Foods plc
|
||||
|
b) |
LEI |
GBQKSY6W7G0OHCQ8OQ72
|
||||
|
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
Identification code |
Ordinary shares of 515/22p
GB0006731235 |
||||
|
b) |
Nature of the transaction
|
Grant of conditional award under the terms of the Associated British Foods plc "2016 Long Term Incentive Plan", vesting in 2023, subject to certain performance conditions. |
||||
|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction [YYYY-MM-DD] |
2020-11-20
|
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
ASSOCIATED BRITISH FOODS PLC
DIRECTOR/PDMR SHAREHOLDING
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name
|
George Weston
|
||||
|
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 |
Associated British Foods plc
|
||||
|
b) |
LEI |
GBQKSY6W7G0OHCQ8OQ72
|
||||
|
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
Identification code |
Ordinary shares of 515/22p
GB0006731235 |
||||
|
b) |
Nature of the transaction
|
Grant of conditional award under the terms of the Associated British Foods plc "2016 Short Term Incentive Plan", vesting in 2023, subject to certain performance conditions. |
||||
|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction [YYYY-MM-DD] |
2020-11-20
|
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
ASSOCIATED BRITISH FOODS PLC
DIRECTOR/PDMR SHAREHOLDING
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name
|
John Bason
|
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
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 |
Associated British Foods plc
|
||||
|
b) |
LEI |
GBQKSY6W7G0OHCQ8OQ72
|
||||
|
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
Identification code |
Ordinary shares of 515/22p
GB0006731235 |
||||
|
b) |
Nature of the transaction
|
Acquisition of shares on the vesting and release of an award under the terms of the Associated British Foods Short Term Incentive Plan |
||||
|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction [YYYY-MM-DD] |
2020-11-20
|
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
ASSOCIATED BRITISH FOODS PLC
DIRECTOR/PDMR SHAREHOLDING
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name
|
John Bason
|
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
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 |
Associated British Foods plc
|
||||
|
b) |
LEI |
GBQKSY6W7G0OHCQ8OQ72
|
||||
|
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
Identification code |
Ordinary shares of 515/22p
GB0006731235 |
||||
|
b) |
Nature of the transaction
|
Sale of a proportion of the shares acquired on the vesting and release of an award under the terms of the Associated British Foods Short Term Incentive Plan to cover part of the tax liability. |
||||
|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction [YYYY-MM-DD] |
2020-11-23 |
||||
|
f) |
Place of the transaction |
London Stock Exchange (XLON) |
||||
ASSOCIATED BRITISH FOODS PLC
DIRECTOR/PDMR SHAREHOLDING
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name
|
John Bason
|
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
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 |
Associated British Foods plc
|
||||
|
b) |
LEI |
GBQKSY6W7G0OHCQ8OQ72
|
||||
|
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
Identification code |
Ordinary shares of 515/22p
GB0006731235 |
||||
|
b) |
Nature of the transaction
|
Grant of conditional award under the terms of the Associated British Foods plc "2016 Long Term Incentive Plan", vesting in 2023, subject to certain performance conditions. |
||||
|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction [YYYY-MM-DD] |
2020-11-20
|
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
ASSOCIATED BRITISH FOODS PLC
DIRECTOR/PDMR SHAREHOLDING
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
|||||
|
a) |
Name
|
John Bason
|
||||
|
2 |
Reason for the notification |
|||||
|
a) |
Position/status |
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 |
Associated British Foods plc
|
||||
|
b) |
LEI |
GBQKSY6W7G0OHCQ8OQ72
|
||||
|
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
Identification code |
Ordinary shares of 515/22p
GB0006731235 |
||||
|
b) |
Nature of the transaction
|
Grant of conditional award under the terms of the Associated British Foods plc "2016 Short Term Incentive Plan", vesting in 2023, subject to certain performance conditions. |
||||
|
c) |
Price(s) and volume(s)
|
|
||||
|
d) |
Aggregated information - Aggregated volume - Price |
N/A |
||||
|
e) |
Date of the transaction [YYYY-MM-DD] |
2020-11-20
|
||||
|
f) |
Place of the transaction |
Outside a trading venue |
||||
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