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3 Apr 2020 17:08
AIM: KBT
3 April 2020
K3 Business Technology Group plc
("K3" or "Company")
PDMR Announcement
K3, which provides mission‐critical business software, cloud solutions and managed services, has received notifications from Oliver Scott (non-executive director of the Company, and a partner in Kestrel Partners LLP) of the following transactions in respect of ordinary shares of 25p each in the capital of the Company ("Ordinary Shares")
a. As announced by the Company on 1 April 2020, clients of Kestrel Partners LLP acquired on 31 March 2020 an aggregate total of 600,000 warrants to subscribe for Ordinary Shares, exercisable at a price of £0.25 per Ordinary Share and within a period of 10 years ("Warrants");
b. Kestrel Partners LLP further acquired 270,000 Ordinary Shares at a price of £0.75 per Ordinary Share on 1 April 2020, and 50,000 Ordinary Shares at a price of £0.80 per Ordinary Share on 3 April 2020 (the "Purchases").
Following the Purchases Kestrel Partners LLP is now interested in 10,354,591 Ordinary Shares representing 24.11% of the total voting rights of the Company, and 600,000 Warrants.
The Company makes the below announcement and notification in accordance with the EU Market Abuse Regulation (No 596/2014) in respect of the Purchases:
Enquiries:
K3 Business Technology Group plc | Adalsteinn Valdimarsson, CEO Rob Price, CFO | T: 0161 876 4498 |
finnCap Limited (NOMAD & Broker)
| Julian Blunt/James Thompson (Corporate Finance) Camille Gochez (Corporate Broking)
| T: 020 7220 0500 |
KTZ Communications | Katie Tzouliadis/Dan Mahoney | T: 020 3178 6378 |
1. | Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated with them ('PCA') | |
a) | Name | Oliver Scott |
2. | Reason for notification | |
b) | Position / status | Non-executive director |
c) | Initial notification / amendment | Initial Notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
b) | Name | K3 Business Technology Group plc |
c) | LEI | 213800QOJ9OF2AV81748 |
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
| Warrants over ordinary shares of 25p each, exercisable at nominal value
n/a
|
b) | Nature of the transaction | grant of warrants to Kestrel Partners LLP clients in connection with loan funding arrangement
|
c) | Price(s) and volume(s) | Volume: 600,000 Price: n/a
|
d) | Aggregated information Aggregated volume Price | n/a |
e) | Date of the transaction | 31 March 2020 |
f) | Place of the transaction | Outside a trading venue |
1. | Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated with them ('PCA') | |
a) | Name | Oliver Scott |
2. | Reason for notification | |
b) | Position / status | Non-executive director |
c) | Initial notification / amendment | Initial Notification |
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
b) | Name | K3 Business Technology Group plc |
c) | LEI | 213800QOJ9OF2AV81748 |
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 25p each
GB00B00P6061 |
b) | Nature of the transaction | Acquisition of ordinary shares of 25p each by Kestrel Partners LLP
|
c) | Price(s) and volume(s) | Volume: 320,000 Price: 270,000 Ordinary Shares at 75p per Ordinary Shares and 50,000 Ordinary Shares at 80p per Ordinary Share
|
d) | Aggregated information Aggregated volume Price | n/a |
e) | Date of the transaction | 1 April 2020 and 3 April 2020 |
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) |
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