Last checked at 12 Apr 2017 18:28
Mortgage Advice Bureau (Holdings) plc ("MAB" or the "Company")
12 April 2017
Exercise of Options and Sale of Ordinary Shares
Mortgage Advice Bureau (Holdings) plc (AIM: MAB1.L), announces that options to subscribe for 325,745 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares" and the "Options") have today been exercised by certain employees, including certain Directors and persons discharging managerial responsibilities. The Options were issued pursuant to the Mortgage Advice Bureau Executive Share Option Plan, under the Company's existing block listing. Following the exercise of Options, certain employees, including certain Directors and persons discharging managerial responsibilities, have sold Ordinary Shares. The details of the exercise of Options and sale of Ordinary Shares by certain Directors and persons discharging managerial responsibilities are set out below.
Initial holding (1)
| Options exercised(2) | Ordinary Shares sold(3) | Resultant holding(1)
| |||
Director | Number of Ordinary Shares | Percentage of issued share capital | Number of Ordinary Shares | Percentage of issued share capital | ||
Peter Brodnicki(4) | 14,110,910 | 27.96 | 81,250 | - | 14,192,160 | 27.94 |
David Preece(5) | 1,524,800 | 3.02 | 68,749 | 29,687 | 1,563,862 | 3.08 |
Lucy Tilley(6) | 6,037 | 0.01 | 18,836 | 9,778 | 15,095 | 0.03 |
(1) Including those shares held by members of the shareholder's family as defined in the AIM Rules for Companies and those held in the Company's Share Incentive Plan.
(2) Pursuant to the Mortgage Advice Bureau Executive Share Option Plan.
(3) By the Director and/or his/her connected persons.
(4) Peter Brodnicki also holds options over 417,055 Ordinary Shares.
(5) Immediately prior to sale of Ordinary Shares, David Preece has gifted for nil consideration 49,600 Ordinary Shares to his wife, a family member for the purposes of the AIM Rules, which therefore remain disclosable as a beneficial interest in Ordinary Shares. David Preece also holds options over 348,808 Ordinary Shares.
(6) Lucy Tilley has only sold sufficient shares to cover her exercise price of £2.19 per Ordinary Share in respect of the 18,836 options over Ordinary Shares that she has exercised. Immediately prior to sale of Ordinary Shares, Lucy Tilley has gifted for nil consideration 5,512 Ordinary Shares to her husband, a family member for the purposes of the AIM Rules, which therefore remain disclosable as a beneficial interest in Ordinary Shares. Lucy Tilley also holds options over 162,724 Ordinary Shares.
Donna Brenchley, Commercial Director, a person discharging managerial responsibilities, has exercised 19,531 Options and has gifted for nil consideration 4,300 Ordinary Shares to her husband. Donna Brenchley and her connected persons subsequently sold 19,531 Ordinary Shares.
Following the exercise of Options and sale of Ordinary Shares today by members of the Concert Party (as defined in the Company's Admission Document but excluding Michelle Draycott, who as announced by the Company on 27 April 2016 is no longer considered to be acting in concert with Peter Brodnicki, David Preece and Paul Robinson), members of the Concert Party have a combined interest of 16,546,306 Ordinary Shares, representing 32.58 per cent of the Company's issued share capital.
Under the Mortgage Advice Bureau Executive Share Option Plan, the total number of Ordinary Shares now under option is 1,783,577, representing 3.5% of the Company's issued share capital. This excludes the 255,000 options over Ordinary Shares in the Company granted to MAB's Appointed Representatives in May 2015.
Following today's issue of shares, the Company has a total of 50,787,345 Ordinary Shares in issue. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company. The Company does not hold any shares in treasury.
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 | 1) Peter Brodnicki 2) David Preece 3) Lucy Tilley 4) Donna Brenchley | ||||
2 | Reason for the notification | |||||
a) | Position/status | 1) Chief Executive Officer 2) Chief Operating Officer 3) Finance Director 4) Person Discharging Managerial Responsibilities
| ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Mortgage Advice Bureau (Holdings) plc | ||||
b) | LEI | 2138008AY1RA61T6W960 | ||||
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 0.1 pence each
ISIN: GB00BQSBH502 | ||||
b) | Nature of the transaction | Exercise of options | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Volume: 188,366 Price: 166 pence per share (weighted average) | ||||
e) | Date of the transaction | 12 April 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | 1) David Preece 2) Lucy Tilley 3) Donna Brenchley | ||||
2 | Reason for the notification | |||||
a) | Position/status | 1) Chief Operating Officer 2) Finance Director 3) Person Discharging Managerial Responsibilities | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Mortgage Advice Bureau (Holdings) plc | ||||
b) | LEI | 2138008AY1RA61T6W960 | ||||
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 0.1 pence each
ISIN: GB00BQSBH502 | ||||
b) | Nature of the transaction | Transfer of shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Volume: 59,412 Price: Nil | ||||
e) | Date of the transaction | 12 April 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | 1) David Preece 2) Lucy Tilley 3) Bruce Tilley 4) Donna Brenchley 5) Jonathan Worsley | ||||
2 | Reason for the notification | |||||
a) | Position/status | 1) Chief Operating Officer 2) Finance Director 3) Person closely associated with Director (Lucy Tilley, Finance Director) 4) Person Discharging Managerial Responsibilities 5) Person closely associated with Person Discharging Managerial Responsibilities (Donna Brenchley, Commercial Director) | ||||
b)
| Initial notification /Amendment | Initial notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Mortgage Advice Bureau (Holdings) plc | ||||
b) | LEI | 2138008AY1RA61T6W960 | ||||
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 0.1 pence each
ISIN: GB00BQSBH502 | ||||
b) | Nature of the transaction | Sale of shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | Volume: 58,996 Price: 424 pence per share | ||||
e) | Date of the transaction | 12 April 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||
Enquiries:
Mortgage Advice Bureau (Holdings) plc +44 (0)1332 525007
Peter Brodnicki, Chief Executive Officer
David Preece, Chief Operating Officer
Lucy Tilley, Finance Director
Nominated Adviser and Joint Broker: |
Zeus Capital +44 (0)20 3829 5000 Martin Green Nicholas How Pippa Underwood
Joint Broker: Canaccord Genuity +44 (0)20 7523 8350 Roger Lambert Kit Stephenson Richard Andrews
Media Enquiries: investorrelations@mab.org.uk |