19 Oct 2017 14:37
19 October 2017
Air Partner plc
Share Option Exercise / PDMR Notification
As required by Article 19 of the Market Abuse Regulation and the Disclosure and Transparency Rules, Air Partner plc ('Air Partner', the 'Company') announces that Mark Briffa has exercised share options granted under the Air Partner unapproved share option plan 2003 (the 'Plan') being;
- 200,000 ordinary shares of 1p each in the Company (each an Ordinary Share) purchased at an exercise price of 109p per share (in connection with an option granted under the Plan on 27th November 2008); and
- 25,000 Ordinary Shares purchased at an exercise price of 78.5p per share (in connection with an option granted under the Plan on 26th October 2010);
from the Company's Employee Benefit Trust.
The 2008 award was not subject to any performance criteria. The 2010 award was subject to performance conditions which were partly achieved during the period 2010 - 2013, resulting in the vesting of 20% of the original grant.
Mr Briffa subsequently sold sufficient shares to cover the option cost and any other costs associated with the service and transferred the 45,065 Ordinary Shares retained (at a trade price of 132.46 pence per share), to his wife.
The net effect of the transaction, after costs, is that Mr Briffa's total interest in the Company including his wife's holding, has increased.
The notification below is made in accordance with the requirements of the EU Market Abuse Regulation:
Air Partner plc
Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMR") and persons closely associated with them ("PCA").
1 1 | Details of the person discharging managerial responsibilities ("PDMR") or persons closely associated with them ("PCA") | |||||
a) | Name
| Mark Briffa | ||||
b) | Position/status
| Chief Executive Officer
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c) | Initial notification/ Amendment
| Initial notification | ||||
2 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name
| Air Partner plc | ||||
b) | LEI
| 213800JLR6YIRMSCUS98 | ||||
3 | 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 share of 1 pence ('Ordinary Share')
GB00BD736828 | ||||
b) | Nature of the transaction
| Exercise of share options granted under the Air Partner plc unapproved share option plan 2003 (the 'Plan'). On 18 October 2017: i) 200,000 Ordinary Shares were purchased at an exercise price of 109p per share (in connection with an option granted under the Plan on 27th November 2008); and ii) 25,000 Ordinary Shares were purchased at an exercise price of 78.5p per share (in connection with an option granted under the Plan on 26th October 2010); from the Company's Employee Benefit Trust. Mr Briffa subsequently sold sufficient shares to cover the option cost and any other costs associated with the service and transferred the 45,065 Ordinary Shares retained (at a trade price of 132.46 pence per share), to his wife.
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c) | Price(s) and volume(s)
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d) | Aggregated information
- Aggregated volume
- Price
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225,000 Ordinary Shares
132.46 pence per share
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e) | Date of the transaction
| 18 October 2017
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f) | Place of the transaction
| London Stock Exchange | ||||
Ends
Enquiries:
Air Partner | 01293 844 788 |
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Mark Briffa, Chief Executive Officer Neil Morris, Chief Financial Officer Kate Patrick, Investor Relations
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Temple Bar Advisory (PR Advisor to Air Partner) | 020 7002 1080 |
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Tom Allison | 07789 998 020 |
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Alycia MacAskill | 07876 222 703 |
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About Air Partner:
Founded in 1961, Air Partner is a global aviation services group that provides worldwide solutions to industry, commerce, governments and private individuals. The Group has two divisions: Broking division, comprising air charter broking and remarketing; and the Consulting & Training division, comprising the aviation safety consultancies, Baines Simmons, Clockwork Research and SafeSkys, as well as Air Partner's Emergency Planning Division. For reporting purposes, the Group is structured into four divisions: Commercial Jets, Private Jets, Freight (Broking) and Consulting & Training (Baines Simmons, Clockwork Research, SafeSkys and Air Partner's Emergency Planning Division). The Commercial Jet division charters large airliners to move groups of any size. Air Partner Remarketing, which is within the Commercial Jet division, provides comprehensive remarketing programmes for all types of commercial and corporate aircraft to a wide range of international clients. Private Jets offers the Company's unique pre-paid JetCard scheme and on-demand charter. Freight charters aircraft of every size to fly almost any cargo anywhere, at any time. Baines Simmons is a world leader in aviation safety consulting specialising in aviation regulation, compliance and safety management. Clockwork Research is a leading fatigue risk management consultancy. SafeSkys is a leading Environmental and Air Traffic Control services provider to UK and International airports. Air Partner is headquartered alongside Gatwick airport in the UK. Air Partner operates 24/7 year-round and has 20 offices globally. Air Partner is listed on the London Stock Exchange (AIR) and is ISO 9001:2008 compliant for commercial airline and private jet solutions worldwide. www.airpartner.com