Last checked at 30 Oct 2018 11:00
Volvere plc
("Volvere" or the "Company")
Result of Buy-back, PDMR Dealing and Total Voting Rights
Volvere is pleased to announce that further to its announcement of 25 October 2018, the Buy-back was fully taken up. The Company has repurchased into treasury 550,254 ordinary shares of 0.00001 pence in the capital of the Company ("Ordinary Shares") at a purchase price of 1102 pence per Ordinary Share, returning approximately £6.06 million to shareholders in accordance with the approval granted by shareholders at the general meeting of the Company held on 25 June 2018.
Directors' Dealings and Related Party Transactions
As previously indicated, Jonathan Lander, CEO, and Nicholas Lander, COO, participated in the Buy-back, selling in aggregate 487,419 Ordinary Shares at a price of 1102 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 | 921,310 | 25.12% | 317,414 | 603,896 | 19.37% |
Nicholas Lander | 493,449 | 13.45% | 170,005 | 323,444 | 10.37% |
Total | 1,414,759 | 38.57% | 487,419 | 927,340 | 29.74% |
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 and Nicholas Lander 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 3,088,965 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 3,118,109 Ordinary Shares.
Capitalised terms not otherwise defined in this announcement shall have the meaning given to them in the announcement of 25 October 2018.
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 Lauren Kettle | 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) | ||||
1102 pence | 317,414 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | N/A | ||||
- Price | |||||
e)
| Date of the transaction
| 30 October 2018 | |||
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) | ||||
1102 pence | 170,005 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | N/A | ||||
- Price | |||||
e)
| Date of the transaction | 30 October 2018 | |||
f)
| Place of the transaction | London Stock Exchange (XLON) | |||