Last checked at 27 Sep 2018 07:00
ALTITUDE GROUP PLC
(the "Company" or "Altitude")
Director Shareholding
Altitude Group plc (AIM: ALT), the operator of a leading marketplace for personalised products, announces that the Company has been notified that Martin Varley, Non-Executive Director, sold 500,000 ordinary shares of 0.4 pence each ("Ordinary Shares") in the Company at an average price of 70.89 pence per Ordinary Share ("Share Sale").
Mr. Varley has been a longtime supporter of the Company and his support for and belief in the opportunity that is now crystalizing, and the ability of the Executive management team to deliver on it, remains undiminished. The Share Sale represents a small part of his significant holding in Altitude and is a necessity due to the requirement for him to settle an existing obligation.
Following the Share Sale Mr. Varley will remain interested in 12,132,559 Ordinary Shares representing approximately 22.22 per cent of the issued share capital of the Company.
Commenting on the Share Sale Mr. Varley said:
"I do not feel that in relation to my overall holding such a modest share sale needs any apology or detailed explanation, but with the inevitable negative comments from posters on bulletin boards that I believe have no place in a professional and regulated investment community, I thought it best to make a small comment.
As such, I want to remind shareholders that 95% of my resources are invested in the Group that I founded and there are inevitable times in life when some personal liquidity is needed or wanted to satisfy existing obligations.
This statement does give me a chance though to thank the Executive Directors of Altitude for the incredible business that they have created from the entrepreneurial base that I handed over when I stepped down to a Non-Executive role. The team, culture, technology, innovation and momentum that Nikki and her leadership team have created exceeds my wishes and dreams for the business.
I am entirely confident and very excited about the exponential growth opportunity as evidenced by the KPI data reported by the Company in the interim results statement on 25 September 2018 that clearly demonstrates the traction that is being achieved on our disruptive ChannlPro offering in the US.
It goes without saying that I remain a long-term significant shareholder in the Company and look forward to the future with excitement and great confidence."
Enquiries:
| Altitude Group plc Nikki Stella, Chief Executive Officer Graeme Couturier, Chief Financial Officer Peter Hallett, Non-Executive Chairman |
+1 (215) 534 1350 07973 683234 07887 987469 | |
|
|
| |
| finnCap ltd | 020 7220 0500 | |
| Jonny Franklin-Adams/Scott Mathieson (Corporate Finance) |
| |
| Richard Chambers (ECM) |
| |
|
|
|
|
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 | Martin Varley | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Non-Executive Director | ||||
| b) | Initial notification/Amendment |
| ||||
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a) | Name | Altitude Group plc | ||||
| b) | LEI | 213800VACSTYYSI39R89 | ||||
| 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 | GB00B0LSFV82 | |||||
| b) | Nature of the transaction | Selling of Ordinary Shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: · Aggregated volume · Price |
As above | ||||
| e) | Date of the transaction | 25 September 2018 | ||||
| f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||