24 May 2017 18:22
24 May 2017
SEPURA PLC
Cash cancellation of entitlements under the Sepura Deferred Bonus Plan (the "DBP")
Sepura PLC (LSE: SEPU) (the "Company") announces that today the accrued entitlements of Gordon Watling, the Chief Executive Officer of the Company currently on extended leave of absence, to acquire 103,031 ordinary shares in the Company pursuant to the DBP (the "DBP Shares") have been cancelled in return for a single payment to Gordon Watling of £25,290.93 (the "Cash Cancellation"), payable within 14 days.
The payment of £25,290.93 consists of:
· 20 pence for each of the DBP Shares; and
· a total dividend award of £4,684.73, representing the total dividend award accrued to the DBP Shares in accordance with the DBP rules.
The Cash Cancellation is pursuant to a proposal under Rule 15 of the Takeover Code made to the DBP participants in connection with the recommended cash offer made by Project Shortway Limited, a wholly-owned subsidiary of Hytera Communications Corporation Limited, for the entire issued and to be issued share capital of the Company implemented by way of a scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"). As announced separately, the Scheme today became effective.
This announcement is made in accordance with Article 19(3) of the Market Abuse Regulation (European Union Regulation No. 596/2014).
1. | Details of the person discharging managerial responsibilities / person closely associated | |||||||
a) | Name | Gordon Watling | ||||||
2. | Reason for the Notification | |||||||
a) | Position/status | Chief Executive Officer (on extended leave of absence) | ||||||
b) | Initial notification/amendment | Initial notification | ||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a) | Name | Sepura plc | ||||||
b) | LEI | 213800OJ7SKW13ASAN04 | ||||||
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 | Award over ordinary shares of £0.0005 each in Sepura plc pursuant to the Sepura Deferred Bonus Plan | ||||||
Identification code | GB00B1ZBLD47 | |||||||
b) | Nature of the Transaction | Cash cancellation of awards under the Sepura Deferred Bonus Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price | (Single transaction)
| ||||||
e) | Date of the transaction | 2017-05-24 | ||||||
f) | Place of the transaction | Outside a trading venue
| ||||||
Notes
(1) The amount shown here is an effective price per share (rounded to 4 decimal places). This has been calculated by dividing the single payment of £25,290.93 payable to Gordon Watling (comprised of £0.20 for each of the DBP Shares and the total dividend award accrued of £4,684.73, representing the total dividend award accrued to the DBP Shares in accordance with the DBP rules) by the 103,031 DBP Shares referred to above.
For further information please contact:
Sepura plc Tony Hunter Company Secretary
| + 44 (0) 20 7 603 1515 |
Instinctif Partners Adrian Duffield/Kay Larsen/Chantal Woolcock | +44 (0) 20 7 457 2020 |