Last checked at 13 Apr 2017 11:31
13 April 2017
Restore plc
("Restore" or the "Company")
Exercise of Options
Directors' Dealing
The Company has applied for 586,358 new ordinary shares of 5 pence each ("New Ordinary Shares") to be admitted to trading on AIM ("Admission"). The New Ordinary Shares are being issued in relation to the exercise today of nil-cost options granted in 2016 under the terms of the 2013 Executive Incentive Plan ("EIP") to the executive directors of the Company. It is expected that Admission will become effective and that dealings will commence in the New Ordinary Shares at 8.00 a.m. on 21 April 2017.
Of the 2,345,431 nil-cost options being exercised, the Company has elected to settle 75% of the value in cash, calculated according to the closing price on Wednesday 12th April 2017 of 379.5p. As a result of this, 1,759,073 nil-cost options granted under the EIP have been cancelled, thereby reducing the amount of ongoing share dilution. The executive directors will use part of the cash settlement to fund the tax liability on the remainder of the option exercise referred to in the previous paragraph.
Following the exercise of the options, the executive directors' beneficial shareholdings are now:
Directors' Holdings | Number of Ordinary Shares held prior to exercise of options | Number of New Ordinary Shares received as a result of exercise of options | Interest in Ordinary Shares following the issue of New Ordinary Shares | Percentage of total voting rights following the issue of New Ordinary Shares |
Charles Skinner | 1,098,792 | 439,768 | 1,538,560 | 1.36% |
Adam Councell | 145,623 | 146,590 | 292,213 | 0.26% |
Following admission of the New Ordinary Shares there will be 112,729,615 ordinary shares in issue and admitted to trading on AIM.
Contact:
Restore plc |
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Charles Skinner, Chief Executive | 07966 234 075 |
Adam Councell, Group Finance Director | 07860 402 434
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Cenkos Securities plc | 020 7397 8900 |
Nicholas Wells |
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Elizabeth Bowman
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FTI Consulting | 020 3727 1340 |
Nick Hasell |
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Alex Le May |
Template for 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
| Charles Skinner | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Executive | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Restore plc | |||
b)
| LEI
| N/A | |||
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 | Ordinary Shares of 5 pence each | |||
Identification code | GB00B5NR1S72 | ||||
b)
| Nature of the transaction
| Exercise of nil cost share options | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
- | 439,768 | ||||
d)
| Aggregated information | N/A | |||
- Aggregated volume | |||||
- Price | |||||
e)
| Date of the transaction
| 13 April 2017 | |||
f)
| Place of the transaction | Outside trading venue | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Charles Skinner | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Chief Executive | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Restore plc | |||
b)
| LEI
| N/A | |||
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 | Ordinary Shares of 5 pence each | |||
Identification code | GB00B5NR1S72 | ||||
b)
| Nature of the transaction
| Cancellation of nil cost share options | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
379.5 pence | 1,319,305 | ||||
d)
| Aggregated information | N/A | |||
- Aggregated volume | |||||
- Price | |||||
e)
| Date of the transaction
| 13 April 2017 | |||
f)
| Place of the transaction | Outside trading venue | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Adam Councell | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Group Finance Director | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Restore plc | |||
b)
| LEI
| N/A | |||
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 | Ordinary Shares of 5 pence each | |||
Identification code | GB00B5NR1S72 | ||||
b)
| Nature of the transaction
| Exercise of nil cost share options | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
- | 146,590 | ||||
d)
| Aggregated information | N/A | |||
- Aggregated volume | |||||
- Price | |||||
e)
| Date of the transaction
| 13 April 2017 | |||
f)
| Place of the transaction
| Outside trading venue | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Adam Councell | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| Group Finance Director | |||
b)
| Initial notification /Amendment
| Initial notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Restore plc | |||
b)
| LEI
| N/A | |||
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 | Ordinary Shares of 5 pence each | |||
Identification code | GB00B5NR1S72 | ||||
b)
| Nature of the transaction
| Cancellation of nil cost share options | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
379.5 pence | 439,768 | ||||
d)
| Aggregated information | N/A | |||
- Aggregated volume | |||||
- Price | |||||
e)
| Date of the transaction
| 13 April 2017 | |||
f)
| Place of the transaction
| Outside trading venue | |||