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14 Sep 2016 07:00
14 September 2016
Gear4music (Holdings) plc
Notification of transaction by Persons Discharging Managerial Responsibilities and persons closely associated with them
The board of Gear4music (Holdings) plc ("the Company") announces that on 13 September 2016, the Company was notified that Key Capital Partners (Nominees) Limited ("KCP") had sold 1,760,000 ordinary shares of 10 pence each in the capital of the Company. KCP is classified as a Person Closely Associated with Peter Armitage, a Non-Executive Director of the Company and KCP director. KCP acts as nominee for certain funds of Key Capital Partners LLP, a partnership of which Mr Armitage is a member.
This transaction took place on 12 September 2016 and was completed at a price of 210 pence per Ordinary Share. KCP's interest following the transaction is now in 3,069,482 Ordinary Shares, representing approximately 15.2% of the Company's issued share capital.
The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
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 | Key Capital Partners (Nominees) Limited |
2
| Reason for the notification | |
a)
| Position/status
| Person Closely Associated Peter Armitage, a Non-Executive Director of the Company and KCP director. KCP acts as nominee for certain funds of Key Capital Partners LLP, a partnership of which Mr Armitage is a member.
|
b)
| Initial notification /Amendment
| Initial Notification |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a)
| Name
| Gear4music (Holdings) plc |
b)
| LEI |
|
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 10 pence each in the capital of the Company |
b) | Identification code
| GB00BW9PJQ87 |
c)
| Nature of the transaction
| Sale of Ordinary Shares |
d)
| Price(s) and volume(s) | Price: £2.10 Volume(s) - 1,760,000
|
d)
| Aggregated information - Aggregated volume - Price | N/a
|
e)
| Date of the transaction | 12 September 2016 |
f)
| Place of the transaction | London Stock Exchange, AIM (XLON) |
Name of authorised official of issuer responsible for making notification.
Chris Scott
Company Secretary to Gear4music (Holdings) plc
- Ends -
For further information please contact
Gear4music +44 843 155 0800
Andrew Wass, Chief Executive Officer
Chris Scott, Chief Financial Officer
Panmure Gordon +44 20 7886 2500
(Financial Adviser, Nominated Adviser and Broker)
Fred Walsh / Peter Steel - Investment Banking
Erik Anderson / Tom Salvesen - Corporate Broking
MHP Communications (Financial PR) +44 20 3128 8100
Andrew Leach
Simon Hockridge
Isabelle Grainger
Background to Gear4music
Operating from an office, showroom and distribution centre in York, the Group sells own-brand musical instruments and music equipment alongside premium third party brands including Fender, Yamaha and Gibson, to customers ranging from beginners to musical enthusiasts and professionals, in the UK and, more recently, into Europe.
Having developed its own ecommerce platform, with multilingual, multicurrency and fully responsive design websites covering 19 countries, the Group has rapidly expanded its database and continues to build its overseas presence.
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