Last checked at 20 Apr 2017 09:30
20 April 2017
SHEARWATER GROUP PLC
(the "Company")
Director/PDMR Shareholdings
Shearwater Group plc (AIM: SWG), was notified of the following transactions in ordinary shares of 1 pence each in the Company ("Ordinary Shares") by Directors of the Company.
Certain Directors have signed commitments in respect of new Ordinary Shares pursuant to the conditional placing announced earlier today. David Williams, Chairman has subscribed for 12,500,000 new Ordinary Shares. In addition, Mo Stevens, Chief Executive Officer, and Non-executive Directors Robin Southwell, Stephen Ball and Giles Willits, have subscribed for 625,000 new Ordinary shares each. The new Ordinary Shares are to be issued to those Directors at the issue price of 4 pence per share.
The Directors' participation in the Placing constitutes a related party transaction under the AIM Rules for Companies. Chris Eadie is an independent director for the purposes of this transaction, and considers, having consulted with WH Ireland Limited, the Company's nominated adviser, that the terms of the Directors' subscription are fair and reasonable insofar as the shareholders of the Company are concerned.
The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | David Williams | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chairman | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Shearwater Group 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
Identification code | Ordinary shares of 1p each
GB00B00T3528 | ||||
b) | Nature of the transaction | Subscription for cash | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
12,500,000 £500,000 | ||||
e) | Date of the transaction | 20 April 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Mo Stevens | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Executive Officer | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Shearwater Group 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
Identification code | Ordinary shares of 1p each
GB00B00T3528 | ||||
b) | Nature of the transaction | Subscription for cash | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
625,000 £25,000 | ||||
e) | Date of the transaction | 20 April 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Robin Southwell | ||||
2 | Reason for the notification | |||||
a) | Position/status | Non-executive Director | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Shearwater Group 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
Identification code | Ordinary shares of 1p each
GB00B00T3528 | ||||
b) | Nature of the transaction | Subscription for cash | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
625,000 £25,000 | ||||
e) | Date of the transaction | 20 April 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Stephen Ball | ||||
2 | Reason for the notification | |||||
a) | Position/status | Non-executive Director | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Shearwater Group 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
Identification code | Ordinary shares of 1p each
GB00B00T3528 | ||||
b) | Nature of the transaction | Subscription for cash | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
625,000 £25,000 | ||||
e) | Date of the transaction | 20 April 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Giles Willits | ||||
2 | Reason for the notification | |||||
a) | Position/status | Non-executive Director | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Shearwater Group 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
Identification code | Ordinary shares of 1p each
GB00B00T3528 | ||||
b) | Nature of the transaction | Subscription for cash | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
625,000 £25,000 | ||||
e) | Date of the transaction | 20 April 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM | ||||
Contacts: | |
Shearwater Group plc | www.theshearwatergroup.co.uk |
David Williams Michael Stevens | +44 (0) 797 014 8016 +44 (0) 780 171 2582 |
WH Ireland Limited - Nominated Adviser & Broker | www.whirelandplc.com |
Mike Coe, Ed Allsopp | +44 (0) 117 945 3470 |
Powerscourt - Financial PR | shearwater@powerscourt-group.com |
Ben Griffiths, Andy Jones | +44 (0) 20 7250 1446 |