27 Nov 2017 07:00
27 November 2017
Touchstone Innovations plc
Exercise of share options and acceptance of IP Group offer in respect of resulting shares
The notification set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.
Touchstone Innovations plc (AIM: IVO, "Touchstone" or "the Company") has, on 24 November 2017, allotted ordinary shares in the capital of the Company ("Award Shares") to the following persons discharging managerial responsibilities ("PDMRs"), in satisfaction of the exercise of options granted under the Company's 2016 Long Term Incentive Plan ("LTIP").
Number of Award Shares
Russ Cummings 83,619
Nigel Pitchford 25,131
Tony Hickson 14,622
Anjum Ahmad 11,994
The options, which have an exercise price of 31/33 (three and one thirty-third) pence per Award Share, became exercisable as a result of the offer by IP Group plc for the entire issued share capital of the Company ("the Offer") being declared unconditional.
The PDMRs listed above have accepted the Offer in respect of the Award Shares.
For further information contact:
Touchstone Innovations plc | 020 3053 8834 |
Russ Cummings, Chief Executive Officer |
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William Rayner, General Counsel and Company Secretary |
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Jon Davies, Director of Communications |
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Instinctif Partners | 020 7457 2020 |
Adrian Duffield/Mel Toyne-Sewell/Chantal Woolcock |
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J.P. Morgan Cazenove (Nominated adviser) | 020 7742 4000 |
Michael Wentworth-Stanley/Alec Pratt |
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RBC Capital Markets (Joint corporate broker) | 020 7653 4000 |
Marcus Jackson |
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | RUSS CUMMINGS | ||||
2. | Reason for the notification | |||||
a) | Position / status | CHIEF EXECUTIVE OFFICER | ||||
b) | Initial notification/amendment | INITIAL NOTIFICATION | ||||
3. | Details of issuer | |||||
a) | Name | touchstone Innovations plc | ||||
b) | LEI | 213800D4RUIF3HLITE31 | ||||
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
Identification Code | NOMINAL VALUE OPTIONS OVER ORDINARY SHARES OF 3 1/33 PENCE EACH IN THE CAPITAL OF THE COMPANY GB00B170L953 | ||||
b) | Nature of the transaction | exercise of options held under the long term incentive plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume price | N/A
| ||||
e) | Date of the transaction
| 24 NOVEMBER 2017 | ||||
f) | Place of the transaction | OUTSIDE A TRADING VENUE | ||||
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
Identification Code | ORDINARY SHARES OF 3 1/33 PENCE EACH IN THE CAPITAL OF THE COMPANY
GB00B170L953 | ||||
b) | Nature of the transaction | ACCEPTANCE OF TAKEOVER OFFER - DISPOSAL OF ORDINARY SHARES | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume price | N/A
| ||||
e) | Date of the transaction
| 24 NOVEMBER 2017 | ||||
f) | Place of the transaction | OUTSIDE A TRADING VENUE | ||||
g) | Additional information | No price information included in section (c) above as the disposal was not for cash consideration. Consideration for the disposal was 2.2178 ordinary shares in the capital of IP Group plc for each ordinary share in the capital of Touchstone Innovations plc. | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | NIGEL PITCHFORD | ||||
2. | Reason for the notification | |||||
a) | Position / status | CHIEF INVESTMENT OFFICER | ||||
b) | Initial notification/amendment | INITIAL NOTIFICATION | ||||
3. | Details of issuer | |||||
a) | Name | touchstone Innovations plc | ||||
b) | LEI | 213800D4RUIF3HLITE31 | ||||
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
Identification Code | NOMINAL VALUE OPTIONS OVER ORDINARY SHARES OF 3 1/33 PENCE EACH IN THE CAPITAL OF THE COMPANY GB00B170L953 | ||||
b) | Nature of the transaction | exercise of options held under the long term incentive plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume price | N/A
| ||||
e) | Date of the transaction
| 24 NOVEMBER 2017 | ||||
f) | Place of the transaction | OUTSIDE A TRADING VENUE | ||||
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
Identification Code | ORDINARY SHARES OF 3 1/33 PENCE EACH IN THE CAPITAL OF THE COMPANY
GB00B170L953 | ||||
b) | Nature of the transaction | ACCEPTANCE OF TAKEOVER OFFER - DISPOSAL OF ORDINARY SHARES | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume price | N/A
| ||||
e) | Date of the transaction
| 24 NOVEMBER 2017 | ||||
f) | Place of the transaction | OUTSIDE A TRADING VENUE | ||||
g) | Additional information | No price information included in section (c) above as the disposal was not for cash consideration. Consideration for the disposal was 2.2178 ordinary shares in the capital of IP Group plc for each ordinary share in the capital of Touchstone Innovations plc. | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | TONY HICKSON | ||||
2. | Reason for the notification | |||||
a) | Position / status | MANAGING DIRECTOR - TECHNOLOGY TRANSFER | ||||
b) | Initial notification/amendment | INITIAL NOTIFICATION | ||||
3. | Details of issuer | |||||
a) | Name | touchstone Innovations plc | ||||
b) | LEI | 213800D4RUIF3HLITE31 | ||||
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
Identification Code | NOMINAL VALUE OPTIONS OVER ORDINARY SHARES OF 3 1/33 PENCE EACH IN THE CAPITAL OF THE COMPANY GB00B170L953 | ||||
b) | Nature of the transaction | exercise of options held under the long term incentive plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume price | N/A
| ||||
e) | Date of the transaction
| 24 NOVEMBER 2017 | ||||
f) | Place of the transaction | OUTSIDE A TRADING VENUE | ||||
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
Identification Code | ORDINARY SHARES OF 3 1/33 PENCE EACH IN THE CAPITAL OF THE COMPANY
GB00B170L953 | ||||
b) | Nature of the transaction | ACCEPTANCE OF TAKEOVER OFFER - DISPOSAL OF ORDINARY SHARES | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume price | N/A
| ||||
e) | Date of the transaction
| 24 NOVEMBER 2017 | ||||
f) | Place of the transaction | OUTSIDE A TRADING VENUE | ||||
g) | Additional information | No price information included in section (c) above as the disposal was not for cash consideration. Consideration for the disposal was 2.2178 ordinary shares in the capital of IP Group plc for each ordinary share in the capital of Touchstone Innovations plc. | ||||
1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | anjum ahmad | ||||
2. | Reason for the notification | |||||
a) | Position / status | TREASURY AND FINANCE DIRECTOR | ||||
b) | Initial notification/amendment | INITIAL NOTIFICATION | ||||
3. | Details of issuer | |||||
a) | Name | touchstone Innovations plc | ||||
b) | LEI | 213800D4RUIF3HLITE31 | ||||
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
Identification Code | NOMINAL VALUE OPTIONS OVER ORDINARY SHARES OF 3 1/33 PENCE EACH IN THE CAPITAL OF THE COMPANY GB00B170L953 | ||||
b) | Nature of the transaction | exercise of options held under the long term incentive plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume price | N/A
| ||||
e) | Date of the transaction
| 24 NOVEMBER 2017 | ||||
f) | Place of the transaction | OUTSIDE A TRADING VENUE | ||||
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
Identification Code | ORDINARY SHARES OF 3 1/33 PENCE EACH IN THE CAPITAL OF THE COMPANY
GB00B170L953 | ||||
b) | Nature of the transaction | ACCEPTANCE OF TAKEOVER OFFER - DISPOSAL OF ORDINARY SHARES | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
Aggregated volume price | N/A
| ||||
e) | Date of the transaction
| 24 NOVEMBER 2017 | ||||
f) | Place of the transaction | OUTSIDE A TRADING VENUE | ||||
g) | Additional information | No price information included in section (c) above as the disposal was not for cash consideration. Consideration for the disposal was 2.2178 ordinary shares in the capital of IP Group plc for each ordinary share in the capital of Touchstone Innovations plc. | ||||