Last checked at 13 Oct 2017 14:35
Volvere plc
("Volvere" or the "Company")
Result of Buy-back, PDMR Dealing and Total Voting Rights
Volvere plc, the growth and turnaround investment company, is pleased to announce that further to the announcement of 11 October 2017, the Buy-back was fully taken up. The Company has repurchased into treasury 407,595 ordinary shares of 0.00001 pence in the capital of the Company ("Ordinary Shares") at a purchase price of 835 pence per Ordinary Share, returning approximately £3.4 million to shareholders in accordance with the approval granted by shareholders at the general meeting of the Company held on 19 November 2012.
Directors' Dealings and Related Party Transactions
As previously indicated, Jonathan Lander, CEO, and Nicholas Lander, COO, participated in the Buy-back, selling in aggregate 157,195 Ordinary Shares at a price of 835 pence per Ordinary Share, as detailed below:
Director | Shareholding prior to Buy-back | % of TVR prior to Buy-back | Shares sold in Buy-back | Shareholding following Buy-back | % of TVR following Buy-Back |
Jonathan Lander | 1,023,677 | 25.12% | 102,367 | 921,310 | 25.12% |
Nicholas Lander | 548,277 | 13.45% | 54,828 | 493,449 | 13.45% |
Total | 1,571,954 | 38.57% | 157,195 | 1,414,759 | 38.57% |
In addition, Andrew Cohen, a substantial shareholder and director of a subsidiary of the Company, also participated in the Buy-back, selling 231,689 Ordinary Shares at a price of 835 pence per Ordinary Share.
David Buchler, the sole independent director, considers, having consulted with the Company's nominated adviser, N+1 Singer, that the terms of the participation of each of Jonathan Lander, Nicholas Lander and Andrew Cohen in the Buy-back are fair and reasonable insofar as the Company's shareholders are concerned.
Total Voting Rights
Following completion of the Buy-back, the Company has 6,207,074 Ordinary Shares in issue and admitted to trading on AIM and will hold 2,538,711 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 3,668,363 Ordinary Shares.
Capitalised terms not otherwise defined in this announcement shall have the meaning given to them in the announcement of 11 October 2017.
For further information, contact:
Volvere plc David Buchler, Non-executive Chairman Jonathan Lander, CEO Nick Lander, COO
| Tel: +44 20 7634 9707 |
N+1 Singer (Nominated Adviser and Broker) Aubrey Powell Liz Yong James Hopton | Tel: + 44 20 7496 3000 |
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Jonathan Lander | |||
2
| Reason for the notification
| ||||
a)
| Position/status
| CEO | |||
b)
| Initial notification /Amendment
| Initial | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Volvere plc | |||
b)
| LEI
| 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)
| Description of the financial instrument, type of instrument | Ordinary shares of 0.00001 pence each | |||
Identification code | GB0032302688 | ||||
b)
| Nature of the transaction | Sale of Ordinary Shares via Buy-back | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
(i) 835 pence (ii) 835 pence | (i) 18,367 (ii) 84,000 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 102,367 Ordinary Shares | ||||
- Price | 835 pence | ||||
e)
| Date of the transaction
| 13 October 2017 | |||
f)
| Place of the transaction
| London Stock Exchange (XLON) | |||
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name
| Nicholas Lander | |||
2
| Reason for the notification
| ||||
a)
| Position/status | COO | |||
b)
| Initial notification /Amendment
| Initial | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name | Volvere plc | |||
b)
| LEI | 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)
| Description of the financial instrument, type of instrument | Ordinary shares of 0.00001 pence each | |||
Identification code | GB0032302688 | ||||
b)
| Nature of the transaction
| Sale of Ordinary Shares via Buy-back | |||
c)
| Price(s) and volume(s) | ||||
Price(s) | Volume(s) | ||||
835 pence | 54,828 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | N/A | ||||
- Price | |||||
e)
| Date of the transaction | 13 October 2017 | |||
f)
| Place of the transaction | London Stock Exchange (XLON) | |||