Last checked at 11 Aug 2016 14:45
11 August 2016
ADVFN PLC
("ADVFN" or the "Company")
Director dealing and issue of equity
ADVFN announces that it has today issued 100,000 new ordinary shares of 0.2 pence each ("Ordinary Shares"), representing 0.39 per cent. of its issued share capital, at a price of 25.5 pence per share to Clem Chambers, the Company's Chief Executive Officer, for total consideration of £25,500.
Due to the limited availability of ADVFN shares in the secondary market at this volume, the Company agreed to issue new shares at 25.5 pence per share, being the mid-market price as at market close on 10 August 2016. The proceeds will be used for general working capital purposes.
Accordingly, Clem Chambers' aggregate beneficial interest (direct and indirect) has increased by 100,000 Ordinary Shares to 1,437,520 Ordinary Shares, representing 5.61 per cent. of the issued share capital and total voting rights of the Company. Clem Chambers' indirect interest is through On-Line PLC of which he holds a 19.96 per cent. beneficial interest.
Application will be made to the London Stock Exchange for admission of 100,000 Ordinary Shares to trading on AIM (the "Admission") and it is expected that Admission will take place and that trading will commence on AIM on or around 17 August 2016.
The issued share capital of the Company following the issue of the new Ordinary Shares is 25,623,846 Ordinary Shares of 0.2 pence each. The Company does not hold any Ordinary Shares in Treasury.
Following Admission, the above figure of 25,623,846 Ordinary Shares 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 change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
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
| Clement Chambers
| ||||
2
| Reason for the notification
| |||||
a)
| Position/status
| CEO | ||||
b)
| Initial notification /Amendment
| Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
a)
| Name
| ADVFN PLC | ||||
b)
| LEI
| |||||
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
| ADVFN PLC Ordinary shares of 0.2 pence
GB00BPT24C10
| ||||
b)
| Nature of the transaction
| Placing of Ordinary Shares | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information
- Aggregated volume
- Price
|
N/A - single transaction
| ||||
e)
| Date of the transaction
| 11 August 2016 | ||||
f)
| Place of the transaction
| London Stock Exchange, AIM | ||||
For further information, please contact:
Clem Chambers,
ADVFN PLC CEO
0207 0700 909
Salmaan Khawaja
Jen Clarke
Jamie Barklem
Grant Thornton UK LLP (Nominated Adviser)
0207 383 5100
The information contained within this RNS is considered to be inside information prior to its release.