Last checked at 20 Jun 2019 16:34
Volvere plc
("Volvere" or the "Company")
Transaction in Own Shares, Related Party Transaction and Directors' Dealings
Volvere plc (AIM: VLE), the growth and turnaround investment company, announces that it purchased today 70,319 ordinary shares of 0.00001 pence each in the capital of the Company ("Ordinary Shares") at a price of 1215 pence per Ordinary Share as further detailed below. All of the repurchased shares will be held in treasury.
Price (pence) | Date | Quantity | Venue |
1,215 | 20/06/2019 | 70,319 | LSE |
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Following the above transaction, the Company will have 6,207,074 Ordinary Shares in issue and admitted to trading on AIM and will hold 4,372,892 Ordinary Shares in treasury. The number of shares in issue (excluding treasury shares), and the figure to be used as the denominator for calculations of interests in the Company's voting rights, is 1,834,182.
Directors' Dealings
David Buchler, Chairman of the Company has notified the Company that he has sold today 84,893 Ordinary Shares at a price of 1215 pence per Ordinary Share. Jonathan Lander and Nicholas Lander, both directors of the Company, have notified the Company that they have each acquired today 7,287 Ordinary Shares at a price of 1215 pence per Ordinary Share.
The interests of the directors in Ordinary Shares before and after these transactions are set out below:
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Director | Shareholding prior to trade | % of TVR prior to trade | Shares bought(sold) Â | Shareholding following trade | % of TVR following trade | |
David Buchler | 129,893 | 6.82 | (84,893) | 45,000 | 2.45 | |
Jonathan Lander | 232,750 | 12.22 | 7,287 | 240,037 | 13.09 | |
Nicholas Lander | 124,660 | 6.55 | 7,287 | 131,947 | 7.19 | |
Related Party Transaction
The purchase of the Ordinary Shares by the Company and the sale of Ordinary Shares by David Buchler is being treated as a related party transaction ("Transaction") for the purposes of Rule 13 of the AIM Rules for Companies. Jonathan Lander and Nicholas Lander, both directors of the Company independent of the Transaction, consider, having consulted with the Company's nominated adviser, Cairn Financial Advisers LLP, that the terms of the Transaction are fair and reasonable insofar as the Company's shareholders are concerned.
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This announcement is inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information contact:
Volvere plc | |
Jonathan Lander, CEO | Tel: + 44 (0) 20 7634 9707 |
  | www.volvere.co.uk  |
Cairn Financial Advisers LLP Sandy Jamieson/James Lewis | Â Tel: + 44 (0) 20 7213 0880 Â |
Hobart Capital Markets LLP Lee Richardson | Â Tel: + 44 (0) 20 7070 5691 |
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1  | Details of the person discharging managerial responsibilities / person closely associated  | ||||
a)  | Name  | a) David Buchler b) Jonathan Lander c) Nicholas Lander | |||
2  | Reason for the notification  | ||||
a)  | Position/status  | a) Chairman b) CEO c) COO | |||
b)  | Initial notification /Amendment  | Initial notification | |||
3  | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor  | ||||
a)  | Name  | Volvere plc | |||
b) Â | LEI Â | 213800GWXPMU8DUJ9G34 | |||
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) Â | Description of the financial instrument, type of instrument | Ordinary shares of 0.00001 pence each | |||
Identification code | GB0032302688 | ||||
b) Â | Nature of the transaction | a) Disposal of shares b) Purchase of shares c) Purchase of shares | |||
c) Â | Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
a) 1215 pence b) 1215 pence c) 1215 pence | a) 84,893 b) 7,287 c) 7,287 | ||||
d) Â | Aggregated information | ||||
- Aggregated volume | N/A | ||||
- Price | |||||
e)  | Date of the transaction  | 20 June 2019 | |||
f)  | Place of the transaction  | London Stock Exchange (XLON) | |||
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