Last checked at 18 Aug 2020 12:21
For immediate release
AO World plc (the "Company")
Director / PDMR Shareholding
AO World plc announces that it received notification today that on 17 August 2020 Mark Higgins, Chief Financial Officer of the Company, exercised nil cost options over a total of 309,537 ordinary shares of 0.25p each ("Ordinary Shares") comprising 57,537 and 252,000 options granted under the Company's Performance Share Plan ("PSP") in July 2016 and in July 2017 respectively. Following these exercises Mr Higgins has no further options outstanding under the PSP scheme.
The Company was further notified that following the exercise of these options on 17 August 2020 Mr Higgins subsequently sold 227,974 Ordinary Shares at a price of 195.0p per share, of which 146,411 Ordinary Shares were sold to cover tax and national insurance obligations with 81,563 Ordinary Shares retained.
As a result of these transactions Mr Higgins now holds a total of 85,336 Ordinary Shares in the Company, representing 0.02% of the current issued share capital.
The Notification of Dealing Forms provided in accordance with the requirements of MAR in relation to the transactions listed above are set out below.
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 | Mark Higgins | ||||||||
2 | Reason for the notification | |||||||||
a) | Position/status | Chief Financial Officer | ||||||||
b) | Initial notification/Amendment | Initial Notification | ||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
a) | Name | AO World PLC | ||||||||
b) | LEI | 2138005FFOAJIUZY4375 | ||||||||
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 | 1. Options over Ordinary shares of 0.25p each 2. Ordinary shares of 0.25p each GB00BJTNFH41 | ||||||||
b) | Nature of the transaction | 1. Exercise of options over 309,537 Ordinary Shares of 0.25p each comprising 57,537 and 252,000 options granted under the Company's Performance Share Plan ("PSP") in July 2016 and July 2017 respectively. 2. Subsequent sale of 227,974 Ordinary Shares, of which 146,411 Ordinary Shares were sold to cover tax and national insurance obligations, with 81,563 Ordinary Shares retained. | ||||||||
c) | Price(s) and volume(s) | 1. Exercise
2. Sale
| ||||||||
d) | Aggregated information - Aggregated volume - Price | As above
| ||||||||
e) | Date of the transaction | 17 August 2020 | ||||||||
f) | Place of the transaction | London, England | ||||||||
Enquiries:
AO World plc
Company Secretary
cosec@ao.com