22 Sep 2023 11:27
22 September 2023
Begbies Traynor Group plc
("Group")
Additional Allotment and New Issue including director/PDMR shareholder
Begbies Traynor Group plc, announces that it has today applied to the AIM market of the London Stock Exchange for an additional listing of 297,382 fully paid up ordinary 5 pence shares in the Group ("Ordinary Shares") to satisfy the exercise by staff of certain share options. Incorporated within the additional listing are Ordinary Shares which have been allotted to Mark Fry, head of business recovery and advisory, who has exercised share options over 400,000 Ordinary Shares at an exercise price of 36.69 pence ("Options"). Settling the Options net of the relevant option price has resulted in the additional issue and allotment of 273,483 Ordinary Shares to him.
Admission of these shares is expected to occur on Wednesday 27 September 2023 following which the total number of shares in issue and total voting rights will be 157,291,760.
In addition to exercising the Options Mark Fry has also sold 135,000 Ordinary Shares from his beneficial holding in the Group at a sale price of 116 pence per share to meet his taxation obligation in respect of the new share issue.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1. | Details of PDMR / person closely associated with them ("PCA") | |||||||||
a) | Name | Mark Fry | ||||||||
2. | Reason for the notification | |||||||||
a) | Position / status | Head of Business Recovery and Advisory | ||||||||
b) | Initial notification / amendment | Initial Notification | ||||||||
3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||
a) | Name | Begbies Traynor Group plc | ||||||||
b) | LEI | 21380075TB4ROF7KWK30 | ||||||||
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 | Ordinary Shares at 5 pence each and share options granted at option prices of 36.69 pence over 400,000 Ordinary Shares. | ||||||||
b) | Nature of the transactions | The exercise of share options over 400,000 Ordinary Shares at an exercise price of 36.69 pence. The Options have been exercised net of the relevant option prices, in each case using the closing share price on 19 September 2023 of 116.00 pence. This has resulted in the issue and allotment of 273,483 fully paid Ordinary Shares for which the Company has applied to AIM for listing and which upon admission will rank pari passu with the Company's other Ordinary Shares. Sale of 135,000 Ordinary Shares on 21 September 2023. | ||||||||
c) | Price(s) and volume(s) |
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e) | Dates of the transaction | 19 September 2023 and 21 September 2023 | ||||||||
f) | Place of the transaction | London Stock Exchange (AIM) | ||||||||
Enquiries please contact:
Begbies Traynor Group plc 0161 837 1700
John Humphrey - Company Secretary
Canaccord Genuity Limited 020 7523 8350
(Nominated Adviser and Joint Broker)
Emma Gabriel / Harry Pardoe
Shore Capital 020 7408 4090
(Joint Broker)
Malachy McEntyre / Mark Percy / Anita Ghanekar / James Thomas
MHP Communications 020 3128 8572
Reg Hoare / Katie Hunt / Pauline Guenot begbies@mhpc.com
Begbies (BEG)