28th March 2024
Macfarlane Group PLC
("Macfarlane" or the "Company")
Director/PDMR Shareholding
On 27th March 2024, Peter Atkinson (Chief Executive), Ivor Gray (Group Finance Director), James Macdonald (Company Secretary) and David Mansfield (Distribution Managing Director) were granted conditional share awards over Macfarlane Group PLC ordinary shares of 25p ("Shares") as set out below, under the terms of the Company's Performance Share Plan ('PSP').
The conditional share award is subject to the achievement of performance conditions and if it vests will be released in accordance with the PSP rules. The award is also subject to an additional holding period of two years from the date on which the award vests.
PDMR Shareholdings and Share Interests
| Name | Awards | Vesting Date | Total Options Following Grant | Total number of Shares held in the Company* |
| Peter Atkinson | 337,746 | March 2027 | 1,204,028 | 1,477,649 |
| Ivor Gray | 175,443 | March 2027 | 593,067 | 287,169 |
| James Macdonald | 68,732 | March 2027 | 216,775 | 30,093 |
| David Mansfield | 104,818 | March 2027 | 104,818 | 0 |
*including connected persons
The PSP award made by Macfarlane represents awards over shares worth 100% of the Executive Directors' base salaries, as permitted by the Directors' remuneration policy.
The PSP awards made to Mr. Macdonald and Mr. Mansfield represent an award over shares worth 75% of base salary.
The Company makes the following disclosures in accordance with Article 19 of the Market Abuse Regulation ("MAR") relating to certain transactions by persons discharging managerial responsibilities ("PDMR") in the shares of the Company:
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | Peter 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 PSP. |
| c) | Price(s) and volume(s) | Award over 337,746 conditional shares at nil cost under the Company's PSP. |
| d)
| Aggregated information | |
| | | |
| - Aggregated volume | N/A - single transaction | |
| | | |
| - Price | | |
| | | |
| e)
| Date of the transaction
| 27th March 2024 |
| 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 | 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 PSP. |
| c) | Price(s) and volume(s) | Award over 175,443 conditional shares at nil cost under the Company's PSP. |
| d)
| Aggregated information | |
| | | |
| - Aggregated volume | N/A - single transaction | |
| | | |
| - Price | | |
| | | |
| e)
| Date of the transaction
| 27th March 2024 |
| 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 | James Macdonald |
| 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 PSP. |
| c) | Price(s) and volume(s) | Award over 68,732 conditional shares at nil cost under the Company's PSP. |
| d)
| Aggregated information | |
| | | |
| - Aggregated volume | N/A - single transaction | |
| | | |
| - Price | | |
| | | |
| e)
| Date of the transaction
| 27th March 2024 |
| 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 | David Mansfield |
| 2
| Reason for the notification
| |
| a) | Position/status | Distribution Managing 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 PSP. |
| c) | Price(s) and volume(s) | Award over 104,818 conditional shares at nil cost under the Company's PSP. |
| d)
| Aggregated information | |
| | | |
| - Aggregated volume | N/A - single transaction | |
| | | |
| - Price | | |
| | | |
| e)
| Date of the transaction
| 27th March 2024 |
| f)
| Place of the transaction | Grant of share awards occurred outside a trading venue. |
Further enquiries: | Macfarlane Group | Tel: 0141 333 9666 |
| | Aleen Gulvanessian Chair | |
| | | |
| | Spreng Thomson | |
| | Callum Spreng | Mob: 07803 970103 |
Legal Entity Identifier (LEI): 213800LVRYDERSJAAZ73
Notes to Editors:
· Macfarlane Group PLC has been listed on the Premium segment of the Main Market of the London Stock Exchange (LSE: MACF) since 1973 with over 70 years' experience in the UK packaging industry.
· Through its two divisions, Macfarlane Group services a broad range of business customers, supplying them with high quality protective packaging products which help customers reduce supply chain costs, improve operational efficiencies and sustainability and enhance their brand presentation. The divisions are:
o Packaging Distribution - Macfarlane Packaging Distribution is the leading UK distributor of a comprehensive range of protective packaging products; and
o Manufacturing Operations - Macfarlane Design and Manufacture is a UK market leader in the design and production of protective packaging for high value and fragile products.
· Headquartered in Glasgow, Scotland, Macfarlane Group employs over 1,000 people at 40 sites, principally in the UK, as well as in Ireland, Germany and the Netherlands.
· Macfarlane Group supplies more than 20,000 customers, principally in the UK and Europe.
· In partnership with 1,700 suppliers, Macfarlane Group distributes and manufactures 600,000+ lines supplying to a wide range of sectors, including: retail e-commerce; consumer goods; food; logistics; mail order; electronics; defence; medical; automotive; and aerospace.
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