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16 Jan 2017 17:24
16 January 2017
SOCO International plc
('SOCO' or 'the Company')
DIRECTORS/PDMR SHAREHOLDING
Notification of Transactions of Directors/Persons Discharging Managerial Responsibilityand their Closely Associated Persons
The Company announces an increase in Directors' shareholdings pursuant to the settlement of share awards ("Awards") under the Company's Long Term Incentive Plan.
On 13 January 2017, Ed Story, Roger Cagle and Cynthia Cagle - the Chief Executive Officer, Deputy Chief Executive Officer and Company Secretary, respectively, and all Executive Directors of the Company and participants in the Company's Long Term Incentive Plan ("LTIP Participants") - became interested in a total of 185,171 SOCO International plc ordinary shares of £0.05 each ("Shares").
The Board had determined that, in this instance, it serves the best interest of the Company and its shareholders, and with the agreement of the LTIP Participants, to deliver only the net number of Shares to the LTIP Participants after deducting the number of Shares that otherwise would be sold in the market to settle the tax liabilities associated with the settlement of these Awards. Therefore, no Shares will be sold and the associated tax liabilities will be settled by the Company.
Further details of the number of Shares referenced in the above are shown in the following table:
LTIP Participant | Ed Story | Roger Cagle | Cynthia Cagle |
Date of original grant | 06-Dec-13 | 06-Dec-13 | 06-Dec-13 |
Awards vested | 145,509 | 109,265 | 74,620 |
Shares to be deducted for associated tax | 62,392 | 47,849 | 33,982 |
Shares to be delivered to LTIP Participant | 83,117 | 61,416 | 40,638 |
Following these transactions, interests held are as follows:
Ed Story is interested in 13,716,384 Shares, representing 4.13% of the issued share capital of the Company, of which 12,041,384 (3.63%) Shares are held personally by Ed Story and 1,675,000 (0.50%) Shares are held through The Story Family Trust, a closely associated person to Ed Story.
Individually, Roger Cagle is interested in 5,476,659 Shares, representing 1.65% of the issued share capital of the Company, of which 556,074 (0.17%) Shares are held personally by Roger Cagle and 4,920,585 (0.11%) Shares are held through C Minor Limited, a closely associated person to Roger Cagle.
Individually, Cynthia Cagle is interested in 3,175,864 Shares, representing 0.96% of the issued share capital of the Company, of which 371,825 (0.11%) Shares are held personally by Cynthia Cagle and 2,804,039 (0.84%) Shares are held through C Major Limited, a closely associated person to Cynthia Cagle.
Roger Cagle and Cynthia Cagle are closely associated persons to each other and are jointly interested in their combined holdings of 8,652,523 Shares, representing 2.61% of the issued share capital of the Company and Share options. Additionally, as they both act as Directors of the Roger and Cynthia Cagle Family Foundation Limited ("the Charity"), it is considered to be a closely associated person of both Roger Cagle and Cynthia Cagle and they are deemed to have a non-beneficial interest in 1,148,129 (0.35%) Shares held by the Charity.
The Company was notified on 16 January 2017 by the Trustee of the SOCO Employee Benefit Trust (the "EBT") that following the above transactions, its shareholding in the Company had decreased by 185,171 Shares. The EBT is now interested in 2,114,596 Shares representing 0.64% of the share capital of the Company. The Executive Directors, as potential beneficiaries, are technically deemed to have an interest in all ordinary shares held by the EBT.
Contact: Carol Fan, SOCO International plc, tel. 020 7747 2000
1
| Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Ed Story | ||||
2 | Reason for the notification | |||||
a) | Position/status | CEO/Director | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | SOCO International plc | ||||
b) | LEI | 549300DDKLXYLLO4N524 | ||||
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 £0.05 Each
GB00B572ZV91 | ||||
b)
| Nature of the transaction | Acquisition of shares following settlement of share awards under the Company's Long Term Incentive Plan. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price |
83,117 Nil | ||||
e) | Date of the transaction | 13/01/2017 | ||||
f) | Place of the transaction | Outside of a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Roger Cagle | ||||
2 | Reason for the notification | |||||
a) | Position/status | Deputy CEO/Director | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | SOCO International plc | ||||
b)
| LEI | 549300DDKLXYLLO4N524 | ||||
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 £0.05 Each
GB00B572ZV91 | ||||
b) | Nature of the transaction | Acquisition of shares following settlement of share awards under the Company's Long Term Incentive Plan. | ||||
c) | Price(s) and volume(s) |
| ||||
d)
| Aggregated information - Aggregated volume - Price |
61,416 Nil | ||||
e) | Date of the transaction | 13/01/2017 | ||||
f) | Place of the transaction | Outside of a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Cynthia Cagle | ||||
2 | Reason for the notification | |||||
a) | Position/status | Company Secretary/Director | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | SOCO International plc | ||||
b) | LEI | 549300DDKLXYLLO4N524 | ||||
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 £0.05 Each
GB00B572ZV91 | ||||
b)
| Nature of the transaction
| Acquisition of shares following settlement of share awards under the Company's Long Term Incentive Plan. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price |
40,638 Nil | ||||
e) | Date of the transaction | 13/01/2017 | ||||
f) | Place of the transaction | Outside of a trading venue | ||||
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