Last checked at 5 Jul 2023 09:30
5 July 2023
Ten Lifestyle Group plc
(the "Company" or "Ten")
PDMR Dealing, EBT Disposal and Admission of New Shares
Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled global concierge platform for the world's wealthy and mass affluent, announces that it received notice that on 4 July 2023 Andrew Long, Group COO, sold 900,000 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at a price of 95p per Ordinary Share. On the same day, 400,000 options held by the Ten Employee Benefit Trust were exercised, with the resulting shares sold on the same day at a price of 95p per share.
Following the sale, Mr. Long has a total interest in the Company of 3,100,000 Ordinary Shares, representing 3.67% of the total voting rights of the Company. The purpose of the sale was to fund a previously agreed payment plan for a new build property purchase.
The Ten Group Employee Benefit Trust, established on 22 February 2012 (the "EBT"), was granted an option for NWH (Guernsey) Limited to subscribe for 400,000 Ordinary Shares with an exercise price of 70p on 27 March 2020 as part of the Company's COVID-19 cost saving initiatives. The EBT is primarily intended to reward employees, not management, who have shown commitment to the Company and the cash generated by this exercise and sale will be used to fund employee loyalty programmes aimed at improving employee retention.
Following this transaction, the EBT holds a total of 42,186 Ordinary Shares, representing 0.05% of the Company's total voting rights.
Pursuant to the exercise of options described above, the Company has issued 400,000 new Ordinary Shares. Applications have been made for the 400,000 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will occur at 8.00 a.m. on or around 11 July 2023.
The total number of Ordinary Shares in issue following Admission will be 84,387,671. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
The notification below, made in accordance with the Market Abuse Regulation, provides further details in relation to the sale of Ordinary Shares.
End
For further information, please visit https://www.tengroup.com/ or contact:
Ten Lifestyle Group Plc Alex Cheatle, Chief Executive Officer Alan Donald, Chief Financial Officer
| +44 (0)20 7850 2796
|
Peel Hunt LLP, Nominated Advisor and Broker Paul Gillam James Smith | +44 (0) 20 7418 8900 |
1
| Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Andrew Long | ||||
2 | Reason for the notification | |||||
a) | Position/status | Group COO | ||||
b) | Initial notification /Amendment | Initial Notification | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Ten Lifestyle Group Plc | ||||
b) | LEI | 213800YK94ZUOJUMN686 | ||||
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 0.1p each | ||||
Identification code | ISIN: GB00BF188X60 | |||||
b) | Nature of the transaction | Sale of Ordinary Shares | ||||
c) | Price(s) and volume(s) | Price(s) | Volume(s) | |||
95p | 900,000 | |||||
d)
| Aggregated information | |||||
- Aggregated volume | 900,000 | |||||
- Price | 95p | |||||
e) | Date of the transaction | 4 July 2023 | ||||
f) | Place of the transaction | London Stock Exchange (XLON); AIM | ||||