Last checked at 22 May 2014 16:35
For immediate release
22 May 2014
CARD FACTORY PLC ("Card Factory")
NOTIFICATION OF TRANSACTIONS OF DIRECTORS AND PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs")
In accordance with the UK Financial Conduct Authority's Disclosure Rules and Transparency Rules ("DTRs"), Card Factory announces that as of 22 May 2014 the Directors of the Company and Persons Discharging Managerial Responsibilities ("PDMRs") have the following interests in Card Factory's ordinary shares ("Shares"):
Name of Director | Number of Shares prior to Admission | Number of Shares sold pursuant to the Offer | Issue of Residual Management Equity immediately following Admission | Number of Shares immediately following Admission |
Geoffrey Cooper | 0 | 0 | 0 | 146,666 |
Richard Hayes | 20,794,251 | 6,238,275 | 0 | 14,555,976 |
Darren Bryant | 8,260,866 | 3,040,759 | 1,875,000 | 7,095,107 |
Octavia Morley | 0 | 0 | 0 | 13,333 |
David Stead | 0 | 0 | 0 | 22,222 |
Graeme Coulthard | 0 | 0 | 0 | 0 |
These interests include Shares acquired and then, if applicable, immediately sold in connection with the offer of the Shares in accordance with the Company's prospectus dated 15 May 2014 (the "Prospectus") (the "Offer") and the admission of the Shares to the premium listing segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities on 20 May 2014 ("Admission").
On 20 May 2014, as disclosed in the Prospectus, Geoffrey Cooper, Octavia Morley and David Stead, Non-Executive Directors of Card Factory, were issued and allotted ordinary shares in Card Factory at a price of £2.25 per share.
On 20 May 2014, immediately following Admission and as disclosed in the Prospectus, Darren Bryant, Chief Financial Officer of Card Factory, was issued and allotted 1,875,000 ordinary shares in Card Factory at a price of £0.01 per share as part of the residual management equity (the "Residual Management Equity"). Darren Bryant currently holds 7,095,107 ordinary shares in Card Factory, totalling 2.1 per cent. of the total issued share capital of Card Factory. Included in this holding are 2,500,000 ordinary shares which Darren Bryant and Lene Jordt Bryant hold as trustees of The Darren Bryant Settlement, of which Darren Bryant is not a beneficiary.
In addition to the interests set out above, on 20 May 2014, Richard Hayes, Chief Executive Officer of Card Factory, and Darren Bryant, Chief Financial Officer of Card Factory, were granted awards over ordinary shares of Card Factory under the Card Factory Long Term Incentive Plan ("LTIP") as follows:
PDMR | Value of shares under awards at IPO offer price of £2.25 per share |
Darren Bryant | £510,000 |
Richard Hayes | £787,500 |
· The grant of awards under the LTIP was for nil consideration.
· The vesting of such awards is subject to the satisfaction of a performance condition. The awards will be subject to a holding period which will end two years after vesting.
· Dividend equivalents will be paid on the amount of dividends payable on each share under the awards, the record date for which falls between 20 May 2014 and the date of vesting.
This notification is made pursuant to DTR 3.1.4. Card Factory was notified of the above transactions on 20 May 2014.
Enquiries:
Shiv Sibal General Counsel and Company Secretary Card Factory plc | Tel: 01924 839150 |