24 May 2021 13:26
24 May 2021
WEY EDUCATION PLC
("Wey Education" or the "Company")
Exercise of Options
The Company announces that employees have exercised options over 5,325,371 and 3,000,000 ordinary shares of 1 pence each ("Ordinary Shares") in the share capital of the Company pursuant to the EMI option scheme and Unapproved option scheme, respectively (the "Option Exercise").
Application has been made for the 8,325,371 new Ordinary Shares to be admitted to trading on AIM, which is expected to take place on 25 May 2021. The new Ordinary Shares will rank, pari pasu, with the existing Ordinary Shares in issue.
In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the FCA, the Company confirms that, following this issue, its issued share capital will comprise 148,183,842 Ordinary Shares of 1 pence each. All Ordinary Shares shall have equal voting rights and none of the Ordinary Shares are held in treasury. Accordingly, the figure of 148,183,842 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.
As a result of the increase in the issued share capital of the Company due to the Option Exercise, Jacqueline Daniell's (Chief Executive Officer) shareholding, in conjunction with Mr Paul Daniell, has reduced as a percentage of the total issued share capital of the Company from 7.38% to 6.96%.
Included in the employees who have exercised their options are the following directors/ PDMR's.
Barry Nichols-Grey has exercised 1,591,343 options pursuant to the Wey Education EMI Option Scheme. The options were granted in June 2018 at a price of 15.71 pence per share.
Barry Nichols-Grey has also exercised 1,500,000 options pursuant to an Unapproved Option Scheme. The options were granted in May 2018 at a price of 16.70 pence per share.
Tony Knowles has exercised 1,591,343 options pursuant to the Wey Education EMI Option Scheme. The options were granted in June 2018 at a price of 15.71 pence per share.
Tony Knowles has also exercised 1,500,000 options pursuant to an Unapproved Option Scheme. The options were granted in May 2018 at a price of 16.70 pence per share.
Esther Clarke has exercised 250,000 options pursuant to the Wey Education EMI Option Scheme. The options were granted in June 2018 at a price of 23.9 pence per share.
Sara de Freitas has exercised 233,333 options pursuant to the Wey Education EMI Option Scheme. The options were granted in June 2018 at a price of 23.9 pence per share.
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 | Barry Nichols-Grey | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Director/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 | Exercise of options | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price |
3,091,343 £500,500 | ||||||
e) | Date of the transaction | 24 May 2021 | ||||||
f) | Place of the transaction | Off market | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Tony Knowles | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Director/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 | Exercise of options | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price |
3,091,343 £500,500 | ||||||
e) | Date of the transaction | 24 May 2021 | ||||||
f) | Place of the transaction | Off market | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Esther Clarke | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Director/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 | Exercise of options | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price |
250,000 £59,750 | ||||||
e) | Date of the transaction | 24 May 2021 | ||||||
f) | Place of the transaction | Off market | ||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a) | Name | Sara de Freitas | ||||||
2 | Reason for the notification | |||||||
a) | Position/status | Director/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 | Exercise of options | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price |
233,333 £55,767 | ||||||
e) | Date of the transaction | 24 May 2021 | ||||||
f) | Place of the transaction | Off market | ||||||
Enquiries:
Wey Education | |
Barrie Whipp Barry Nichols-Grey Jacqueline Daniell | +44 (0) 77 7836 7999 +44 (0) 77 3060 8766 +44 (0) 75 1587 8389
|
WH Ireland (Financial Adviser, Nominated Adviser and Broker to Wey Education) | +44 (0) 20 7220 1666 |
James Joyce Chris Savidge James Sinclair-Ford
| |
Alma PR (Public Relations adviser to Wey Education)
Josh Royston | +44 (0) 7780 901 979 |