14 Sep 2016 17:27
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 | Dr Stephen Wright | |||
2. | Reason for the notification | ||||
a. | Position/status | Director/Chief Medical Officer | |||
b. | Initial notification /Amendment | Initial notification | |||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||
a. | Name | GW Pharmaceuticals PLC | |||
b. | LEI |
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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 Identification code |
Ordinary shares of 0.1p each ISIN: GB0030544687 | |||
b. | Nature of the transaction | Exercise of share options to acquire ordinary shares.
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c. | Price(s) and volume(s) |
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d. | Aggregated information · Aggregated volume · Price
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n/a | |||
e. | Date of the transaction | 13 September 2016 | |||
f. | Place of the transaction | London
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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 Identification code | Ordinary shares of 0.1p each and American Depositary Shares
Ordinary Shares: ISIN: GB0030544687 American Depositary shares: ISIN: 36197T1034 | |||
b. | Nature of the transaction | Conversion of 198,288 Ordinary shares into American Depositary Shares (12 to 1 conversion ratio) to create 16,524 ADSs
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c. | Price(s) and volume(s) |
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d. | Aggregated information · Aggregated volume · Price
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n/a | |||
e. | Date of the transaction | 13 September 2016 | |||
f. | Place of the transaction | Outside a trading venue
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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 Identification code |
American Depositary Shares ISIN: 36197T1034 | |||
b. | Nature of the transaction | Sale of American Depositary shares
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c. | Price(s) and volume(s) |
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d. | Aggregated information · Aggregated volume · Price
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n/a | |||
e. | Date of the transaction | 13 September 2016 | |||
f. | Place of the transaction | Nasdaq, New York
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Explanatory note: On 13 September 2016 Dr Stephen Wright exercised options to acquire 198,288 0.1 pence Ordinary shares for an average exercise price of 28.15 pence per share. These were immediately converted into 16,524 American Depositary Shares and sold via Nasdaq for an average price of $98.75 per ADS. The sale represents less than 0.1% of shares in issue. This sale of shares by Dr Stephen Wright is in accordance with the disclosures contained within the prospectus dated 14 July 2016 whereby the sale of up to 200,000 Ordinary shares by Dr Wright was agreed by the underwriters to be specifically excluded from the lock-up arrangements entered into by the Directors of the Company.