29 Nov 2017 13:41
Nasstar plc
("Nasstar", "Company" or "Group")
PDMR Dealings
29th November 2017
Nasstar (stock code: NASA), a provider of hosted managed and cloud computing services, announces that Lord Daresbury, Chairman of the Company, has sold 3,200,000 ordinary shares of 1p each in the capital of the Company ("Ordinary Shares") at a price of 9.97 pence per Ordinary Share (the "Sale") in order to satisfy a personal tax liability. Included in the Sale are 2,274,042 Ordinary Shares held by Daresbury SWE9501 Limited, a Trust, of which Lord Daresbury is the sole beneficiary. Lord Daresbury remains committed to the Company and has no intention of selling any further Ordinary Shares in the foreseeable future.
The Company also announces that Brownwood LLP ("Brownwood"), a partnership beneficially owned by the Redwood family and other PDMRs of the Company, has today purchased 925,958 Ordinary Shares at a price of 10.0 pence per Ordinary Share (the "Purchase"). Following the Purchase, Brownwood is interested in 925,958 Ordinary Shares. The disclosable shareholders of Brownwood are as follows:
Individual | Position | Percentage Shareholding in Brownwood |
Nigel Redwood (and his partner) | CEO of the Company | 25.00% |
Niki Redwood | FD of the Company | 25.00% |
Stephen Brown (and his wife) | Technical Director of the Company (and PDMR) | 25.00% |
Following the Sale and Purchase, the revised shareholdings of the relevant Directors of the Company are as follows:
Individual | Ordinary Shares held | Percentage of total voting rights of the Company |
Nigel Redwood *† | 10,706,920 | 1.86% |
Niki Redwood*‡ | 10,716,883 | 1.87% |
Lord Daresbury** | 1,588,562 | 0.28% |
* Includes their pro-rata allocation of Ordinary Shares owned by Brownwood.
† Includes 571,459 Ordinary Shares held in trust for the benefit of Nigel Redwood's minor daughter.
‡ Includes 1,714,378 Ordinary Shares held in trust for the benefit of Niki Redwood's minor children.
** Includes 1,003,564 Ordinary Shares held by Lord Daresbury's Family Trust.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").
For further information, please contact:-
Nasstar plc +44 (0) 1952 225 000
Nigel Redwood, Chief Executive Officer
Niki Redwood, Finance Director
finnCap Limited (Nominated Adviser & Broker) +44 (0) 20 7220 0500
Julian Blunt, James Thompson (Corporate Finance)
Stephen Norcross (Corporate broking)
About Nasstar plc
Nasstar (www.nasstar.com) and its wholly owned operating businesses provide hosted managed and cloud computing services, integrating private and public clouds supplying a robust, secure and stable hosted Information Technology service to business customers. The Group provides a true end to end service for clients providing them with enhanced IT performance and greater cost control over their IT function. The Group owns its primary data centre, is head quartered in Telford with regional offices in Northampton, London and Bournemouth whilst 24 x 7 support is delivered from its Auckland office in New Zealand. Nasstar is an accredited Microsoft Gold Partner, is the 2016 Citrix Networking Partner of the Year and is certified to ISO 27001.
Nasstar specialises in building bespoke cloud hosted services to manage a client's entire application set, tailor made to suit specific industries, designing public, private and hybrid cloud solutions to meet the objectives of the client. The solution is a highly scalable service that provides benefits including "Anywhere Access" to computing; a standardised corporate solution that can be accessed globally in multiple languages; generating cost savings when compared to the traditional IT ownership model whilst replacing capital expenditure with a simple usage based payment model.
Nasstar (AIM:NASA) was founded in 1998, admitted to AIM in December 2005, acquired e-know.net Limited in a reverse takeover in January 2014, Kamanchi Limited in July 2014, VESK in October 2015 and Modrus Limited in September 2016.
1) | Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated with them ('PCA') | |||||
a) | Name | Daresbury SWE9501 Limited | ||||
2. | Reason for notification | |||||
b) | Position / status | PCA to the Chairman | ||||
c) | Initial notification / amendment | Initial Notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
b) | Name | Nasstar Plc | ||||
c) | LEI |
| ||||
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 1p each
GB00B0T1S097 | ||||
b) | Nature of the transaction | Sale of ordinary shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
| n/a | ||||
e) | Date of the transaction | 27 November 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM (XLON) | ||||
1) | Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated with them ('PCA') | |||||
a) | Name | Lord Peter Daresbury | ||||
2. | Reason for notification | |||||
b) | Position / status | Chairman | ||||
c) | Initial notification / amendment | Initial Notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
b) | Name | Nasstar Plc | ||||
c) | LEI |
| ||||
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 1p each
GB00B0T1S097 | ||||
b) | Nature of the transaction | Sale of ordinary shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
| n/a | ||||
e) | Date of the transaction | 29 November 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM (XLON) | ||||
1) | Details of Persons Discharging Managerial Responsibilities "PDMR" / person closely associated with them ('PCA') | |||||
a) | Name | Brownwood LLP | ||||
2. | Reason for notification | |||||
b) | Position / status | PCA to CEO, FD & Technical Director | ||||
c) | Initial notification / amendment | Initial Notification | ||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
b) | Name | Nasstar Plc | ||||
c) | LEI |
| ||||
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 1p each
GB00B0T1S097 | ||||
b) | Nature of the transaction | purchase of ordinary shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information
| n/a | ||||
e) | Date of the transaction | 29 November 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM (XLON) | ||||