Last checked at 7 Aug 2020 07:00
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
Tatton Asset Management plc
(or "the Company")
Exercise of Options and PDMR Dealings
Tatton Asset Management PLC (AIM: TAM), the on-platform discretionary fund management (DFM) and IFA support services business announces that it has issued 560,364 ordinary shares of £0.20 each ("Ordinary Shares") to certain employees ("Employees") who have elected to exercise their share options pursuant to the Company's Enterprise Management Incentive ("EMI") and Unapproved schemes.
On 06 August 2020 the Employees exercised their share options over 560,364 new Ordinary Shares ("New Shares") at an average exercise price of £1.66 per share. These options were granted at the time of flotation in 2017. 437,926 of these options were qualifying options for the purpose of the Enterprise Management Incentive scheme and the remainder were unapproved.
Concurrent with exercise of the share options, the Employees agreed to sell 376,268 New Shares, in order to settle the exercise price for the options and certain tax liabilities arising on the exercise of the unapproved options, at £2.80 per share. Completion of these arrangements will occur following Admission.
As part of the above, Helen O'Neill, a PDMR, exercised options over 254,713 New Shares at an exercise price of £1.89 per share, and sold 192,420 New Shares at a price of £2.80 per share. Following this, Helen has an interest in 78,924 Ordinary Shares.
Admission
Application has been made for the New Shares to be admitted to trading on AIM, and admission is expected to take place on or around 12 August 2020 ("Admission"). The New Shares will, following Admission, rank pari passu in all respects with the existing Ordinary Shares in issue and will carry the right to receive all dividends and distributions declared, made or paid on or in respect of the Ordinary Shares after Admission.
Total Voting Rights
Following Admission, the Company's issued share capital will consist of 56,486,405 Ordinary Shares. There are no Ordinary Shares held in treasury. Therefore, following Admission, this figure of 56,486,405 should be used by shareholders as the denominator for the calculation by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
For further information, please contact:
Tatton Asset Management PLC | +44 (0) 161 486 3441 |
Paul Hogarth, Chief Executive Officer Paul Edwards, Chief Financial Officer Lothar Mentel, Chief Investment Officer |
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Zeus Capital (NOMAD and Joint Broker) | +44 (0)20 3829 5000 |
Martin Green Dan Bate |
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N+1 Singer (Joint Broker) |
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Rachel Hayes Peter Steel | +44 (0)20 7496 3000 |
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Belvedere Communications - Financial PR John West / Llew Angus (media) Cat Valentine / Keeley Clarke (investors)
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+44 (0) 7407 023147 +44 (0) 7715 769078 tattonpr@belvederepr.com
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Media Enquiries | +44 (0)20 7139 1452 |
Roddi Vaughan-Thomas |
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Notes to editors
Tatton Asset Management offers a range of services to Directly Authorised financial advisers in the UK, including on-platform only discretionary fund management, regulatory, compliance and business consulting services, and a whole of market mortgage provision.
For more information, please visit: www.tattonassetmanagement.com
The information below, set out in accordance with the requirements of the MAR, provides further detail.
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Helen O'Neill |
2 | Reason for the notification | |
a) | Position/status | PDMR, Chief Operating Officer at Tatton Investment Management Limited |
b)
| Initial notification /Amendment | Initial notification |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a) | Name | Tatton Asset Management plc |
b) | LEI | 213800G2F8I1N7HTVP88 |
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| 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 £0.20 each
ISIN: GB00BYX1P358 |
b) | Nature of the transaction | a) Exercise of Options b) Sale of Ordinary shares
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c) | Price(s) and volume(s) | a) Price: £1.89 Volume: 254,713
b) Price: £2.80 Volume: 192,420
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d) | Aggregated information - Aggregated volume - Price |
a) Price (weighted average): £1.89 Volume: 254,713
b) Price (weighted average): £2.80 Volume: 192,420
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e) | Date of the transaction | a) 06 August 2020 b) 06 August 2020 |
f) | Place of the transaction | a) London stock Exchange, AIM b) Outside normal trading venue - the transactions will take effect conditional only on formal admission of newly issued shares to AIM, but subject to this became legally binding on 06 August 2020 |