15 Aug 2017 16:45
7digital Group plc
("7digital" or "the Company")
Issue of Equity
Director/PDMR Shareholding
7digital (AIM:7DIG), the B2B digital music and radio services company, announces that it has applied to the London Stock Exchange for 257,630 ordinary shares of 1 pence each in the Company ("Ordinary Shares") to be admitted to trading on AIM ("Admission"). The new Ordinary Shares are being issued subsequent to exercises of options over Ordinary Shares ("Options") by employees of the Company.
Of the Options, 155,556 were exercised by Paul Langworthy, a person discharging managerial responsibilities ("PDMR") of the Company. Mr Langworthy subsequently sold 155,556 Ordinary Shares at a price of 5.75 pence per Ordinary Share to cover personal commitments, including the income tax payable on the exercise of his Options. Further information is set out in the PDMR disclosure table below.
It is expected that Admission will become effective and trading will commence in the new Ordinary Shares at 8.00 a.m. on 21 August 2017. On Admission the Company's issued share capital will comprise 183,268,928 Ordinary Shares, of which 28,336 are held in treasury. Therefore the total number of Ordinary Shares in the Company with voting rights will be 183,240,592. Accordingly, the figure of 183,240,592 may 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 FCA's Disclosure Guidance and Transparency Rules.
Enquiries
7digital Group | 020 7099 7777 |
Simon Cole, Chief Executive | |
Matt Honey, Chief Financial Officer Holly Ashmore, PR Manager | |
finnCap (nominated adviser and broker) |
020 7220 0500 |
Geoff Nash / Carl Holmes / Simon Hicks - Corporate Finance | |
Mia Gardner - Corporate Broking | |
About 7digital (http://about.7digital.com) |
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7digital is the global leader in end-to-end digital music solutions. The core of its business is the provision of robust and scalable technical infrastructure and extensive global music rights used to create music streaming and radio services for a diverse range of customers - including consumer brands, mobile carriers, broadcasters, automotive systems, record labels and retailers. 7digital also offers radio production and music curation services, editorial strategy and content management expertise.
7digital fosters industry growth and innovation by simplifying access to music for clients such as Onkyo, Global Radio and musical.ly. From years of being the largest independent producer of programming for the BBC, launching Radioplayer in multiple territories, and powering services for partners like HMV, Electric Jukebox and Panasonic, 7digital is perfectly positioned to lead innovation at the intersection of digital music and next-generation radio services.
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||||
a) | Name | Paul Langworthy | ||||||||
2. | Reason for the Notification | |||||||||
a) | Position/status | Chief Operating Officer / PDMR | ||||||||
b) | Initial notification/Amendment | Initial notification | ||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
a) | Name | 7digital Group plc | ||||||||
b) | LEI | 213800Z18A7JGS54KF43 | ||||||||
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 | ordinary shares of 1p each ("Ordinary Shares") | ||||||||
Identification code | GB00B0P1RP10 | |||||||||
b) | Nature of the transaction | Exercise of Options over Ordinary Shares Sale of Ordinary Shares | ||||||||
c) | Price(s) and volume(s) | Exercise of Options
Sale of Ordinary Shares
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d) | Aggregated information: · Aggregated volume · Price | See 4 (c) above
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e) | Date of the transaction | 14 August 2017 | ||||||||
f) | Place of the transaction | Outside a trading venue | ||||||||