4 Nov 2020 16:42
FALANX GROUP LIMITED
("Falanx" or the "Company")
Director subscriptions/PDMR dealing and Total Voting Rights
Falanx Group Limited (AIM:FLX), the global cyber security and intelligence services provider, announces that following the release of its annual results on Friday 30 October 2020, certain members of the Board of Directors and senior management have conditionally subscribed for a total of £75,000 (the "Subscription"). The Subscription was highlighted in the Company's recent equity fundraising, further details of which were first announced on 29 September 2020 (the "Fundraise").
The Subscription will result in the issue and allotment of a total of 7,500,000 new ordinary shares in the Company (the "Subscription Shares") and is being carried out at the same issue price of 1 penny per ordinary share and on identical terms as those of the Fundraise.
Director subscriptions
The following members of the Board of Directors and senior management have subscribed for shares in the Company in the amounts set out in the table below:
Director | Current Holding | % of Existing Ordinary Shares | Number of Subscription Shares | Holding post Fundraise | % of Enlarged Share Capital | |
Michael David Read (CEO) | 11,813,940 | 2.28% | 3,500,000 | 15,313,940 | 2.91% | |
Alex Hambro (Non-Executive Chairman) | 1,250,000 | 0.24% | 1,500,000 | 2,750,000 | 0.52% | |
Ian Selby (CFO) | 1,069,348 | 0.21% | 1,000,000 | 2,069,348 | 0.39% | |
Emma Shaw (NED) | 866,666 | 0.17% | 500,000 | 1,366,666 | 0.26% | |
Rick Flood (MD of Cyber, PDMR)
| 499,702 | 0.10% | 1,000,000 | 1,499,702 | 0.29% | |
Total | 154,999,656 | 2.99% | 7,500,000 | 22,999,656 | 4.38% | |
The participation by Michael Read, Alex Hambro, Ian Selby, Emma Shaw and Rick Flood in the Fundraising constitutes a related party transaction for the purposes of the AIM Rules. In the absence of any independent director, the Company's nominated adviser, Stifel, consider that the terms of the related party transaction are fair and reasonable insofar as shareholders are concerned.
An application has been made for the Subscription Shares to be admitted on the AIM Market on or around 6 November 2020.
Total voting rights
Following admission of the Subscription Shares the number of Ordinary Shares in issue and number of voting rights will be 525,401,185. The above figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Enquiries:
Falanx Group Limited Alex Hambro - Chairman Mike Read - CEO Ian Selby - CFO
| Via IFC |
Stifel Nicolaus Europe Limited, Nomad and Broker Alex Price / Fred Walsh / Luisa Orsini Baroni | + 44 (0) 207 710 7600 |
IFC Advisory Ltd, Financial PR & IR Graham Herring / Zach Cohen |
+44 (0) 203 934 663 |
About Falanx
Falanx Group Limited is a global intelligence and cyber defence provider working with blue chip and government clients. For more information: http://www.falanx.com/
Falanx Cyber Defence specialises in providing offensive and defensive cyber security services, bringing enterprise-class solutions to the entire market, including to Small and Medium sized Businesses. For more information: http://www.falanxcyber.com/
Notification and public disclosure of transactions by persons discharging managerial responsibilities ("PDMRs") and persons closely associated ("PCA") with them.
1
| . Details of the person discharging managerial responsibilities / person closely associated | |
a)
| Names | Michael David Read |
2.
| Reason for the notification | |
a)
| Position/status
| CEO |
b)
| Initial notification / Amendment
| Initial notification |
3.
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a)
| Name
| Falanx Group Limited |
b)
| LEI | 213800YO4F9CUQLALV19 |
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
| Ordinary Shares of nil par value |
b) | Identification code
| VGG3338A1075 |
c)
| Nature of the transaction
| Subscription for Ordinary Shares |
d)
| Price(s) and volume(s) | Volume(s): 3,500,000 Ordinary Shares Price: 1 pence per Ordinary Share |
d)
| Aggregated information - Aggregated volume - Price | N/A
|
e)
| Date of the transactions | 4 November 2020 |
f)
| Place of the transaction | Outside of a trading venue |
1
| . Details of the person discharging managerial responsibilities / person closely associated | |
a)
| Names | Alex Hambro
|
2.
| Reason for the notification | |
a)
| Position/status
| Non-Executive Chairman |
b)
| Initial notification /Amendment
| Initial notification |
3.
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a)
| Name
| Falanx Group Limited |
b)
| LEI | 213800YO4F9CUQLALV19 |
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
| Ordinary Shares of nil par value |
b) | Identification code
| VGG3338A1075 |
c)
| Nature of the transaction
| Subscription for Ordinary Shares |
d)
| Price(s) and volume(s) | Volume(s): 1,500,000 Ordinary Shares Price: 1 pence per Ordinary Share |
d)
| Aggregated information - Aggregated volume - Price | N/A
|
e)
| Date of the transactions | 4 November 2020 |
f)
| Place of the transaction | Outside of a trading venue |
1
| . Details of the person discharging managerial responsibilities / person closely associated | |
a)
| Names | Ian Selby |
2.
| Reason for the notification | |
a)
| Position/status
| CFO |
b)
| Initial notification /Amendment
| Initial notification |
3.
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a)
| Name
| Falanx Group Limited |
b)
| LEI | 213800YO4F9CUQLALV19 |
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
| Ordinary Shares of nil par value |
b) | Identification code
| VGG3338A1075 |
c)
| Nature of the transaction
| Subscription for Ordinary Shares |
d)
| Price(s) and volume(s) | Volume(s): 1,000,000 Ordinary Shares Price: 1 pence per Ordinary Share |
d)
| Aggregated information - Aggregated volume - Price | N/A
|
e)
| Date of the transactions | 4 November 2020 |
f)
| Place of the transaction | Outside of a trading venue |
1
| . Details of the person discharging managerial responsibilities / person closely associated | |
a)
| Names | Emma Shaw |
2.
| Reason for the notification | |
a)
| Position/status
| NED |
b)
| Initial notification /Amendment
| Initial notification |
3.
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a)
| Name
| Falanx Group Limited |
b)
| LEI | 213800YO4F9CUQLALV19 |
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
| Ordinary Shares of nil par value |
b) | Identification code
| VGG3338A1075 |
c)
| Nature of the transaction
| Subscription for Ordinary Shares |
d)
| Price(s) and volume(s) | Volume(s): 500,000 Ordinary Shares Price: 1 pence per Ordinary Share |
d)
| Aggregated information - Aggregated volume - Price | N/A
|
e)
| Date of the transactions | 4 November 2020 |
f)
| Place of the transaction | Outside of a trading venue |
1
| . Details of the person discharging managerial responsibilities / person closely associated | |
a)
| Names | Rick Flood |
2.
| Reason for the notification | |
a)
| Position/status
| Managing Director at Falanx Cyber |
b)
| Initial notification /Amendment
| Initial notification |
3.
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a)
| Name
| Falanx Group Limited |
b)
| LEI | 213800YO4F9CUQLALV19 |
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
| Ordinary Shares of nil par value |
b) | Identification code
| VGG3338A1075 |
c)
| Nature of the transaction
| Subscription for Ordinary Shares |
d)
| Price(s) and volume(s) | Volume(s): 1,000,000 Ordinary Shares Price: 1 pence per Ordinary Share |
d)
| Aggregated information - Aggregated volume - Price | N/A
|
e)
| Date of the transactions | 4 November 2020 |
f)
| Place of the transaction | Outside of a trading venue |