28 Oct 2019 10:25
Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). Upon publication of this Announcement, this information is considered to be in the public domain.
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28 October 2019
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Bidstack Group Plc
('Bidstack' or the 'Company')
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Directors' dealings
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Bidstack Group Plc (AIM: BIDS.L), the in-game advertising group, announces that it has been informed today that James Draper, CEO, and Francesco Petruzzelli, CTO, on Friday 25 October 2019, each sold 1,500,000 ordinary shares at a price of 20 pence per share to realise gross sale proceeds of £300,000 each. The sale represents an aggregate of 1.23% of the Company's issued share capital.
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On completion of the reverse takeover of Bidstack Limited by Bidstack Group Plc on 19 September 2018, both Mr Draper and Mr Petruzzelli entered into lock-in agreements which prevented them from selling any shares for 12 months following completion of the reverse takeover. These hard lock-ins expired on 19 September 2019.
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Following the share sale, the remaining interests of Mr Draper and Mr Petruzzelli in the share capital of the Company will be as follows:
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Number of Ordinary Shares | % of current total voting rights†| Number of options | Aggregate number of shares and options | % of diluted share capital* | |
James Draper | 39,760,562 | 16.26% | 5,000,000 | 44,760,562 | 16.47% |
Francesco Petruzzelli | 5,750,000 | 2.35% | 22,299,500 | 28,049,500 | 10.32% |
†current total voting rights are 244,540,312
* represents current total voting rights plus the aggregate number of options owned by Mr Draper and Mr Petruzzelli
James Draper, CEO, commented:
"Both Francesco and I have supported Bidstack financially for over four years during the early stage growth phase of the business and, given the progress made to date, for personal reasons we have taken this decision to sell a small proportion of our holdings. We both still have a significant financial interest in Bidstack and are confident in and excited by the Company's prospects. In respect of the balance of our holdings, we both remain subject to the orderly market undertakings contained in our lock-in agreements until September 2020."
The information contained in this notification is disclosed in accordance with Article 19 of the EU Market Abuse Regulation.
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FORM FOR NOTIFYING DEALINGS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
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1. | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Â Name | James Draper |
2. | Reason for the notification | |
a) | Position/status | Chief Executive |
b) | Initial notification/Amendment | Initial Notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Bidstack Group Plc |
b) | LEI | 213800Q47UWF61LMRR02 |
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 | Ordinary Shares of 0.5 pence each |
b) | Identification code | GB00BZ7M6059 |
c) | Nature of the transactions | Disposal |
d) | Price(s) and volume(s) | Price: 20 pence per share Volume: 1,500,000 shares |
e) | Aggregated information - Aggregated volume - Price | As for d) above |
f) | Date of the transactions | 25 October 2019 |
g) | Place of the transactions | London Stock Exchange |
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1. | Details of the person discharging managerial responsibilities/person closely associated | |
a) | Â Name | Francesco Petruzzelli |
2. | Reason for the notification | |
a) | Position/status | Chief Technical Officer |
b) | Initial notification/Amendment | Initial Notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Bidstack Group Plc |
b) | LEI | 213800Q47UWF61LMRR02 |
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 | Ordinary Shares of 0.5 pence each |
b) | Identification code | GB00BZ7M6059 |
c) | Nature of the transactions | Disposal |
d) | Price(s) and volume(s) | Price: 20 pence per share Volume: 1,500,000 shares |
e) | Aggregated information - Aggregated volume - Price | As for d) above |
f) | Date of the transactions | 25 October 2019 |
g) | Place of the transactions | London Stock Exchange |
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- Ends -
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Contacts:
 Bidstack Group Plc James Draper, CEO |   via Buchanan |
 SPARK Advisory Partners Limited (Nomad) Mark Brady/Neil Baldwin/James Keeshan |   +44 (0) 203 368 3550 |
 Stifel Nicholas Europe Limited (Broker) Fred Walsh/Neil Shah |   +44 (0) 20 7710 7600 |
 Buchanan Communications Limited Chris Lane / Stephanie Watson / Kim van Beeck bidstack@buchanan.uk.com  |   +44 (0) 20 7466 5000 |
Notes to editors
Bidstack is an advertising technology company which provides dynamic, targeted and automated native in-game advertising for the global video games industry across multiple platforms. Its proprietary API technology is capable of inserting adverts into natural advertising space within video games across multiple video games platforms (mobile, PC and console).
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Bidstack's customers are games publishers and developers and advertising agencies, brands and programmatic advertising platforms. Bidstack contracts exclusive access to the native in-game advertising space within video games from their developers or publishers and sells that advertising space either direct to specific brands and their agencies or through programmatic advertising platforms.