24 Jul 2020 07:00
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE OR ACQUIRE ANY SECURITIES IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA (UNLESS AN EXEMPTION UNDER THE RELEVANT SECURITIES LAWS IS AVAILABLE) OR IN ANY OTHER JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.
24 July 2020
WANdisco plc
("WANdisco" or the "Company")
Results of Director Dealings and Issue of Equity
Further to yesterday's announcement, certain Directors and employees of the Company (together, the "Selling Shareholders"), announce that, subject to completion, they have sold in aggregate 993,758 ordinary shares in the Company (together, the "Vendor Placing Shares") at a price of 500 pence per share following the release of Restricted Stock Units ("RSUs") vesting under the Company's options schemes, raising aggregate gross proceeds of approximately £5 million (together, the "Vendor Placing").
The trade date for the Vendor Placing share sale was 23 July 2020 and settlement is expected to occur on a T+5 basis on 30 July 2020.
Following the Vendor Placing, the Selling Shareholders that are persons discharging managerial responsibilities ("PDMR") will have the following resultant shareholdings:
Selling PDMR | Ordinary shares sold under RSU | Price of Ordinary shares sold | Ordinary shares retained under RSU | Holding - number of Ordinary Shares | |
David Richards (Chairman, CEO and Co-founder) | 243,536 | 500p | 32,031 | 2,151,264 | |
Yeturu Aahlad (Chief Scientist, Inventor & Co-Founder | 217,961 | 500p | 28,512 | 2,471,016 | |
Erik Miller (Chief Financial Officer) | 13,520 | 500p | 1,820 | 1,820 | |
Bob Corey (Non-executive Director) | 13,002 | 500p | 17,170 | 17,170 | |
Karl Monaghan (Non-executive Director) | 26,085 | 500p | 4,087 | 57,629 |
Total voting rights
The Vendor Placing Shares will, when issued under the Company's existing block listing, rank pari passu in all respects with, and will carry the same voting and dividend rights as the existing ordinary shares. Following admission of the Vendor Placing Shares, the Company's enlarged issued share capital will comprise 52,503,554 voting ordinary shares. The aforementioned figure of 52,503,554 voting ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change in the interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
For further information, please contact:
WANdisco plc | Via FTI Consulting |
David Richards, Chief Executive Officer and Chairman | |
Erik Miller, Chief Financial Officer | |
FTI Consulting | +44 (0)20 3727 1137 |
Matt Dixon / Chris Birt / Kwaku Aning | |
Stifel (Nomad) | +44 (0)20 7710 7600 |
Fred Walsh / Rajpal Padam | |
About WANdisco
WANdisco is the LiveData company for machine learning and AI. WANdisco solutions enable enterprises to create an environment where data is always available, accurate and protected, creating a strong backbone for their IT infrastructure and a bedrock for running consistent, accurate machine learning applications. With zero downtime and zero data loss, WANdisco Fusion keeps geographically dispersed data at any scale consistent between on-premises and cloud environments allowing businesses to operate seamlessly in a hybrid or multi-cloud environment. WANdisco has over a hundred customers and significant go-to-market partnerships with Microsoft Azure, Amazon Web Services, Google Cloud, Oracle, and others as well as OEM relationships with IBM and Alibaba.
For additional information, please visit www.wandisco.com
IMPORTANT NOTICES
This Announcement or any part of it does not constitute or form part of any offer to issue or sell, or the solicitation of an offer to acquire, purchase or subscribe for, any securities in the United States (including its territories and possessions, any state of the United States and the District of Columbia). The Vendor Placing Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or with any securities regulatory authority of any state or jurisdiction of the United States, and may not be offered, sold or transferred, directly or indirectly, in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no public offering of securities in the United States.
This Announcement may contain and the Company may make verbal statements containing "forward-looking statements" with respect to certain of the Company's plans and its current goals and expectations relating to its future financial condition, performance, strategic initiatives, objectives and results. By their nature, all forward-looking statements involve risk and uncertainty because they relate to future events and circumstances which are beyond the control of the Company, including amongst other things, United Kingdom domestic and global economic business conditions, market-related risks such as fluctuations in interest rates and exchange rates, the policies and actions of governmental and regulatory authorities, the effect of competition, inflation, deflation, the timing effect and other uncertainties of future acquisitions or combinations within relevant industries, the effect of tax and other legislation and other regulations in the jurisdictions in which the Company and its respective affiliates operate, the effect of volatility in the equity, capital and credit markets on the Company's profitability and ability to access capital and credit, a decline in the Company's credit ratings; the effect of operational risks; and the loss of key personnel. As a result, the actual future financial condition, performance and results of the Company may differ materially from the plans, goals and expectations set forth in any forward-looking statements. Any forward-looking statements made in this Announcement by or on behalf of the Company speak only as of the date they are made. Except as required by applicable law or regulation, the Company expressly disclaims any obligation or undertaking to publish any updates or revisions to any forward-looking statements contained in this Announcement to reflect any changes in the Company's expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.
Solely for the purposes of Article 9(8) of Commission Delegated Directive 2017/593 (the "Delegated Directive") regarding the responsibilities of Manufacturers under the Product Governance requirements contained within: (a) Directive 2014/65/EU on markets in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of the Delegated Directive; and (c) local implementing measures (the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise which any "manufacturer" (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the Ordinary Shares have been subject to a product approval process, which has determined that the Ordinary Shares are (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "Target Market Assessment"). Notwithstanding the Target Market Assessment, Distributors (as defined within the MiFID II Product Governance Requirements) should note that: the price of the Ordinary Shares may decline and investors could lose all or part of their investment; the Ordinary Shares offer no guaranteed income and no capital protection; and an investment in Ordinary Shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the proposed vendor placing. Furthermore, it is noted that, notwithstanding the Target Market Assessment, the Bookrunners will only procure investors who meet the criteria of professional clients and eligible counterparties. For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability of appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the Ordinary Shares. Each distributor is responsible for undertaking its own target market assessment in respect of the Ordinary Shares and determining appropriate distribution channels.
Stifel is regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom and is acting exclusively for the Company, and Stifel will not be responsible to anyone (including any purchasers of the Vendor Placing Shares) other than the Company for providing the protections afforded to its clients or for providing advice in relation to the Vendor Placing or any other matters referred to in this Announcement.
No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Stifel or by any of its respective affiliates or agents as to, or in relation to, the accuracy or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.
The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation.
1 | Details of the person discharging managerial responsibilities/person closely associated | ||||||||||
a) | Name | David Richards | |||||||||
2 | Reason for the notification | ||||||||||
a) | Position/status | 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 | WANdisco plc | |||||||||
b) | LEI | 213800Y1A75RSC698O04 | |||||||||
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 10p each
ISIN: JE00B6Y3DV84 | |||||||||
b) | Nature of the transaction | Sales of shares | |||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information
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e) | Date of the transaction | 23 July 2020 | |||||||||
f) | Place of the transaction | London Stock Exchange (XLON) | |||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||||||||||
a) | Name | Yeturu Aahlad | |||||||||
2 | Reason for the notification | ||||||||||
a) | Position/status | Director | |||||||||
b) | Initial notification/Amendment | Initial notification | |||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | WANdisco plc | |||||||||
b) | LEI | 213800Y1A75RSC698O04 | |||||||||
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 10p each
ISIN: JE00B6Y3DV84 | |||||||||
b) | Nature of the transaction | Sales of shares | |||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information
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e) | Date of the transaction | 23 July 2020 | |||||||||
f) | Place of the transaction | London Stock Exchange (XLON) | |||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||||||||||
a) | Name | Erik E Miller | |||||||||
2 | Reason for the notification | ||||||||||
a) | Position/status | Director | |||||||||
b) | Initial notification/Amendment | Initial notification | |||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | WANdisco plc | |||||||||
b) | LEI | 213800Y1A75RSC698O04 | |||||||||
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 10p each
ISIN: JE00B6Y3DV84 | |||||||||
b) | Nature of the transaction | Sales of shares | |||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information
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e) | Date of the transaction | 23 July 2020 | |||||||||
f) | Place of the transaction | London Stock Exchange (XLON) | |||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||||||||||
a) | Name | Bob Corey | |||||||||
2 | Reason for the notification | ||||||||||
a) | Position/status | Director | |||||||||
b) | Initial notification/Amendment | Initial notification | |||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | WANdisco plc | |||||||||
b) | LEI | 213800Y1A75RSC698O04 | |||||||||
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 10p each
ISIN: JE00B6Y3DV84 | |||||||||
b) | Nature of the transaction | Sales of shares | |||||||||
c) | Price(s) and volume(s) |
| |||||||||
d) | Aggregated information
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e) | Date of the transaction | 23 July 2020 | |||||||||
f) | Place of the transaction | London Stock Exchange (XLON) | |||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | ||||||||||
a) | Name | Karl Monaghan | |||||||||
2 | Reason for the notification | ||||||||||
a) | Position/status | Director | |||||||||
b) | Initial notification/Amendment | Initial notification | |||||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
a) | Name | WANdisco plc | |||||||||
b) | LEI | 213800Y1A75RSC698O04 | |||||||||
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 10p each
ISIN: JE00B6Y3DV84 | |||||||||
b) | Nature of the transaction | Sales of shares | |||||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information
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e) | Date of the transaction | 23 July 2020 | |||||||||
f) | Place of the transaction | London Stock Exchange (XLON) | |||||||||