Last checked at 20 Sep 2021 07:00
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
Tatton Asset Management plc
(the "Company" or "Tatton")
PDMR Dealings, Exercise of Options & TVR
Tatton Asset Management PLC (AIM: TAM), the on-platform discretionary fund management (DFM) and IFA support services business announces that it has received notice that certain Directors, PDMRs and employees have elected to exercise their options ("Option Exercise") under each of the 2017 EMI Scheme and 2018 EMI Scheme, over an aggregate 1,741,703 ordinary shares ("Option Shares") of £0.20 each ("Ordinary Shares") in the Company.
The Company has today issued 966,546 ordinary shares to the Company's Employee Benefit Trust ("EBT"). Application for these shares to be admitted to trading on 23 September 2021 ("Admission"). To satisfy the Option Exercise, 1,741,703 ordinary shares are to be awarded from the EBT.
The participants of the Option Exercise include Paul Hogarth (Chief Executive Officer), Paul Edwards (Chief Financial Officer), four other PDMRs and eleven further employees (the "Share Option Participants"). Details in relation to the Option Shares issued to the two directors and the four other PDMRs are contained in the PDMR disclosure tables below.
Concurrent with the Option Exercise, certain Share Option Participants have today sold, in aggregate, 835,194 Option Shares at a price of £5.25 per Option Share in order to either finance the cost of exercising the options and certain tax liabilities arising on the exercise of options, or for some participants, to sell their Option Shares in full for cash.
Following the exercise and sale of Option Shares by the Share Option Participants, the below directors have increased their aggregate holdings from 18.42% to 19.22% of the issued share capital of the Company. The table below details their interests in the share capital of the Company:
Director | Position | Ordinary Shares held previously | % of total issued share capital | Number of Ordinary Shares over which Options exercised | Number of Ordinary Shares sold* | Resulting total number of Ordinary Shares held | % of enlarged issued share capital |
Paul Hogarth | Chief Executive Officer | 10,575,358 | 18.26% | 553,078 | 293,646 | 10,834,790 | 18.40% |
Paul Edwards | Chief Financial Officer | 94,864 | 0.16% | 688,500 | 297,613 | 485,751 | 0.82% |
TOTAL | 10,670,222 | 18.42% | 1,241,578 | 591,259 | 11,320,541 | 19.22% |
\* The number of shares sold by each Paul Hogarth and Paul Edwards are to satisfy the cost of exercising the shares and the tax liabilities arising on the exercise of options only
Following the above exercise of Options, unexercised options over an aggregate 1,294,675 ordinary shares have vested and are exercisable under the 2017 EMI Scheme and 2018 EMI Scheme.
Total Voting Rights
Following Admission, the Company's issued share capital will consist of 58,895,941 ordinary shares. There are no ordinary shares held in treasury. Therefore, following Admission, this figure of 58,895,941 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 Paul Hogarth (Chief Executive Officer) Paul Edwards (Chief Financial Officer) Lothar Mentel (Chief Investment Officer)
| +44 (0) 161 486 3441 |
Zeus Capital - Nomad and Broker Martin Green (Corporate Finance) Dan Bate (Corporate Finance and QE) | +44 (0) 20 3829 5000 |
Singer Capital Markets - Joint Broker Peter Steel (Investment Banking) Rachel Hayes (Investment Banking) |
+44 (0) 20 7496 3061 +44 (0) 20 7496 3189 |
Belvedere Communications - Financial PR John West / Llew Angus (media) Cat Valentine / Keeley Clarke (investors) |
+44 (0) 7407 023147 + 44 (0) 7715 769078 tattonpr@belvederepr.com |
Trade Media Enquiries Roddi Vaughan Thomas |
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 | Paul Hogarth |
2 | Reason for the notification | |
a) | Position/status | PDMR, 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 | Tatton Asset Management plc |
b) | LEI | 213800G2F8I1N7HTVP88 |
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 £0.20 each
ISIN: GB00BYX1P358 |
b) | Nature of the transaction | a) Exercise of 2017 EMI options b) Exercise of 2018 EMI options c) Sale of ordinary shares |
c) | Price(s) and volume(s) | a) Price: £1.89Volume: 382,070 b) Price: £NilVolume: 171,008 c) Price: £5.25Volume: 293,646
|
d) | Aggregated information - Aggregated volume - Price | a) Price: £1.89Volume: 382,070 b) Price: £NilVolume: 171,008 c) Price: £5.25Volume: 293,646 |
e) | Date of the transaction | a) 17 September 2021 b) 17 September 2021 c) 17 September 2021 |
f) | Place of the transaction | a) London stock Exchange, AIM b) London stock Exchange, AIM c) 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 17 September 2021 |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Paul Edwards |
2 | Reason for the notification | |
a) | Position/status | PDMR, Chief Financial Officer |
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 |
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 £0.20 each
ISIN: GB00BYX1P358 |
b) | Nature of the transaction | a) Exercise of 2018 EMI options b) Sale of ordinary shares |
c) | Price(s) and volume(s) | a) Price: £NilVolume: 688,500 b) Price: £5.25Volume: 297,613
|
d) | Aggregated information - Aggregated volume - Price | a) Price: £NilVolume: 688,500 b) Price: £5.25Volume: 297,613 |
e) | Date of the transaction | a) 17 September 2021 b) 17 September 2021 |
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 17 September 2021 |
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 |
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 £0.20 each
ISIN: GB00BYX1P358 |
b) | Nature of the transaction | a) Exercise of 2018 EMI options b) Sale of ordinary shares |
c) | Price(s) and volume(s) | a) Price: £NilVolume: 21,064 b) Price: £5.25Volume: 21,064
|
d) | Aggregated information - Aggregated volume - Price | a) Price: £NilVolume: 21,064 b) Price: £5.25Volume: 21,064 |
e) | Date of the transaction | a) 17 September 2021 b) 17 September 2021 |
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 17 September 2021 |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Robert Hunt |
2 | Reason for the notification | |
a) | Position/status | PDMR, Chief Executive Officer of Paradigm |
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 |
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 £0.20 each
ISIN: GB00BYX1P358 |
b) | Nature of the transaction | a) Exercise of 2018 EMI options b) Sale of ordinary shares |
c) | Price(s) and volume(s) | a) Price: £NilVolume: 90,000 b) Price: £5.25Volume: 19,300
|
d) | Aggregated information - Aggregated volume - Price | a) Price: £NilVolume: 90,000 b) Price: £5.25Volume: 19,300 |
e) | Date of the transaction | a) 17 September 2021 b) 17 September 2021 |
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 17 September 2021 |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Ryan Seaton |
2 | Reason for the notification | |
a) | Position/status | PDMR, Business Development Director |
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 |
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 £0.20 each
ISIN: GB00BYX1P358 |
b) | Nature of the transaction | a) Exercise of 2018 EMI options b) Sale of ordinary shares |
c) | Price(s) and volume(s) | a) Price: £NilVolume: 23,974 b) Price: £5.25Volume: 23,974
|
d) | Aggregated information - Aggregated volume - Price | a) Price: £NilVolume: 23,974 b) Price: £5.25Volume: 23,974 |
e) | Date of the transaction | a) 17 September 2021 b) 17 September 2021 |
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 17 September 2021 |
1 | Details of the person discharging managerial responsibilities / person closely associated | |
a) | Name | Claire MacNeil |
2 | Reason for the notification | |
a) | Position/status | PDMR, Office Manager |
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 |
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 £0.20 each
ISIN: GB00BYX1P358 |
b) | Nature of the transaction | a) Exercise of 2018 EMI options b) Sale of ordinary shares |
c) | Price(s) and volume(s) | a) Price: £NilVolume: 18,000 b) Price: £5.25Volume: 18,000
|
d) | Aggregated information - Aggregated volume - Price | a) Price: £NilVolume: 18,000 b) Price: £5.25Volume: 18,000 |
e) | Date of the transaction | a) 17 September 2021 b) 17 September 2021 |
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 17 September 2021 |