Last checked at 22 Oct 2019 07:00
22 October 2019
Gateley (Holdings) Plc
("Gateley" or the "Company")
Allocation and sale of Gateley shares from Stock Appreciation Rights Scheme and PDMR dealings
Gateley (AIM: GTLY), the legal and professional services group, is pleased to announce the transfer of 1,624,648 ordinary shares of 10 pence each in the capital of the Company ("Ordinary Shares") from the Gateley Employee Benefit Trust ("the EBT") to partner level employees who have exercised their rights pursuant to the Company's Stock Appreciation Rights ("SAR") Scheme. As announced by the Company on 8 October 2018, a total of 1,631,588 Ordinary Shares had previously been issued to the EBT to satisfy the vesting of share options under the SAR Scheme.
Of the 1,624,648 Ordinary Shares transferred, 747,007 have been sold at a price of £1.55 per Ordinary Share on behalf of partners in order to reimburse them for their personal tax liabilities resulting from the exercise of their SAR Scheme awards. The buyers primarily comprised a number of existing institutional investors.
Alongside the sale of Ordinary Shares sold following the exercise of rights pursuant to the SAR scheme the EBT sold 402,993 Ordinary Shares, also at a price of £1.55 per Ordinary Share, taking the aggregate number of Ordinary Shares sold to 1,150,000, representing 1.01% of the issued share capital of the Company. Following the sale of Ordinary Shares, the Company's free float is now 46.3%.
The Ordinary Shares were successfully placed by finnCap and N+1 Singer.
PDMR Dealings
The Company announces that it has received the following notification of sales of Ordinary Shares to fund related tax liabilities from George Parker-Fuller, Katie Chester, Thomas Durrant and Rafe Courage, being PDMRs of Gateley. The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
Further information on all Executive Director and PDMR dealings are provided below:
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | George Parker-Fuller | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Director of Gateley Plc | ||||||
b. | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Gateley (Holdings) Plc | ||||||
b. | LEI | N/A | ||||||
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 instrumentIdentification Code | Ordinary Shares of 10p each
ISIN: GB00BXB07J71 | ||||||
b. | Nature of the transaction | Sale of Ordinary Shares to reimburse tax liability on SARS | ||||||
c. | Price(s) and volume(s) |
|
|
|
|
| ||
| Price(s) | Volume(s) |
| |||||
£1.55 | 19,953 |
| ||||||
| ||||||||
d. | Aggregated information - Aggregated Volume - Price |
19,953 £30,927.15 | ||||||
e. | Date of the transaction | 18 October 2019 | ||||||
f. | Place of the transaction | London Stock Exchange | ||||||
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Thomas Durrant | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Director of Gateley Plc | ||||||
b. | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Gateley (Holdings) Plc | ||||||
b. | LEI | N/A | ||||||
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 instrumentIdentification Code | Ordinary Shares of 10p each
ISIN: GB00BXB07J71 | ||||||
b. | Nature of the transaction | Sale of Ordinary Shares to reimburse tax liability on SARS | ||||||
c. | Price(s) and volume(s) |
|
|
|
|
| ||
| Price(s) | Volume(s) |
| |||||
£1.55 | 17,362 |
| ||||||
| ||||||||
d. | Aggregated information - Aggregated Volume - Price |
17,362 £26,911.10 | ||||||
e. | Date of the transaction | 18 October 2019 | ||||||
f. | Place of the transaction | London Stock Exchange | ||||||
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Katie Chester | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Member of the Operations Board of Gateley Plc | ||||||
b. | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Gateley (Holdings) Plc | ||||||
b. | LEI | N/A | ||||||
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 instrumentIdentification Code | Ordinary Shares of 10p each
ISIN: GB00BXB07J71 | ||||||
b. | Nature of the transaction | Sale of Ordinary Shares to reimburse tax liability on SARS | ||||||
c. | Price(s) and volume(s) |
|
|
|
|
| ||
| Price(s) | Volume(s) |
| |||||
£1.55 | 13,174 |
| ||||||
| ||||||||
d. | Aggregated information - Aggregated Volume - Price |
13,174 £20,419.70 | ||||||
e. | Date of the transaction | 18 October 2019 | ||||||
f. | Place of the transaction | London Stock Exchange | ||||||
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Rafe Courage | ||||||
2 | Reason for notification |
| ||||||
a. | Position/Status | Member of the Operations Board of Gateley Plc | ||||||
b. | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Gateley (Holdings) Plc | ||||||
b. | LEI | N/A | ||||||
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 instrumentIdentification Code | Ordinary Shares of 10p each
ISIN: GB00BXB07J71 | ||||||
b. | Nature of the transaction | Sale of Ordinary Shares to reimburse tax liability on SARS | ||||||
c. | Price(s) and volume(s) |
|
|
|
|
| ||
| Price(s) | Volume(s) |
| |||||
£1.55 | 14,134 |
| ||||||
| ||||||||
d. | Aggregated information - Aggregated Volume - Price |
14,134 £21,907.70 | ||||||
e. | Date of the transaction | 18 October 2019 | ||||||
f. | Place of the transaction | London Stock Exchange | ||||||
Enquiries
Gateley (Holdings) Plc |
|
Neil Smith, Finance Director | Tel: +44 (0) 121 234 0196 |
Nick Smith, Acquisitions Director and Head of Investor Relations | Tel: +44 (0) 20 7653 1665 |
Cara Zachariou, Head of Corporate Communications | Tel: +44 (0) 121 234 0074 Mob: +44 (0) 7703 684 946 |
|
|
finnCap - Nominated adviser and broker | Tel: +44 (0) 20 7220 0575 |
Matt Goode / James Thompson (Corporate Finance) |
|
Andrew Burdis (ECM) |
|
|
|
N+1 Singer - Joint broker | Tel: +44 (0) 20 7496 3000 |
Richard Lindley / Peter Steel (Corporate Finance) |
|
Rachel Hayes (Corporate Broking) |
|
|
|
Belvedere Communications Limited - Financial PR |
|
Cat Valentine (cvalentine@belvederepr.com) | Mob: +44 (0) 7715 769 078 |
Keeley Clarke (kclarke@belvederepr.com) | Mob: +44 (0) 7967 816 525 |