26 Nov 2019 07:00
26 November 2019
WEY EDUCATION PLC
("Wey" or "the Company")
Director Dealings
Following the Company's preliminary announcement and meetings with existing and potential investors, the Company's broker received indications of interest in share purchases from a number of institutional investors. The Board believes that a wider spread of supportive investors is beneficial for public companies in general and consulted existing shareholders who held shares in sufficient numbers as to whether they could assist in satisfying this demand. Accordingly, the Company has received notification that Jacqueline Daniell, CEO and Paul Daniell, a Director of Interhigh Education Limited, a subsidiary company, have jointly agreed the sale of 2,750,000 Ordinary Shares in the Company to an institutional shareholder at a price of 11.25 pence per share.
Following these transactions Jacqueline and Paul Daniell's interest in the share capital of the Company is 10,316,490 Ordinary Shares, representing 7.5 per cent. of the Company's issued share capital.
Comment
Barrie Whipp, Chairman, commented "I am delighted that we have experienced strong institutional demand for our shares which has enabled this transaction. I am encouraged that further institutional shareholders are supportive of our strategy and the Board is pleased that our shareholder base has been broadened."
The information below, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Jacqueline & Paul Daniell | ||||
2 | Reason for the notification | |||||
a) | Position/status | PDMR | ||||
b) | Initial notification/ Amendment | Initial Notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Wey Education plc | ||||
b) | LEI | 2138009M9659SXKA3I32 | ||||
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 1 pence each
ISIN: GB00B54NKM12 | ||||
b) | Nature of the transactions | Sale of shares | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
2,750,000 £309,375 | ||||
e) | Date of the transaction | 25 November 2019 | ||||
f) | Place of the transaction | Off market | ||||
Enquiries: |
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Wey Education Plc |
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Barrie Whipp (Chairman) | +44 (0) 7778 367 999 |
Barry Nichols-Grey (Executive Director - Finance) | +44 (0) 1873 813 900
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WH Ireland Limited (Nominated Advisor and Broker) |
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James Joyce (Corporate Finance) | +44 (0) 20 7220 1666 |