17 Nov 2023 17:54
[17] November 2023
Cirata plc
("Cirata" or the "Company")
Director/PDMR Shareholdings
Notification and public disclosure of transactions by persons discharging managerial responsibilities
Cirata plc (LSE: CRTA) provides the following notification of a transaction by persons discharging managerial responsibilities ("PDMR").
On 17 November 2023, Mr Stephen Kelly, Chief Executive Officer, purchased 248,600 Ordinary Shares in Cirata at a price of 48 pence per Ordinary Share. Following this purchase and on completion of the Allotment Award share matching transaction, Mr Stephen Kelly will be the beneficial owner of 2,032,600 Ordinary Shares representing approximately 1.76% of the Company's "when issued" share capital.
The total beneficial shareholding of 2,032,600 Ordinary Shares is comprised of open market purchases by Mr Stephen Kelly totalling 1,182,680 Ordinary Shares, plus the company's share Allotment Award of 850,000[1] Ordinary Shares, giving a total beneficial ownership post allotment of 2,032,600 Ordinary Shares.
The following represents the Director dealing
Buying PMDR | Ordinary shares purchased | Price of Ordinary Shares acquired, 17 November 2023 | Total beneficial interest post purchase |
Mr Stephen Kelly, CEO | 248,600 | 48 pence | 1,182,680
|
The following represents the Directors beneficial interest post the "Allotment Award" Shares
Transaction | Shares / % |
Shareholding as of COB 16 Nov 23 | 1,182,680 |
Allotment Award Shares | 850,000 |
Total beneficial Interest post Allotment Award | 2,032,680 |
% beneficial Ordinary Share ownership post Allotment Award | 1.76% |
"Allotment Award"/Allotment Award Shares"
As previously disclosed on 3 July "Launch of Fund Fundraise" under the terms of Mr Stephen Kelly's service agreement, the Company has agreed (up to a capped limit) that during the 12-month period from the commencement of service, for every Ordinary Share purchased by Mr Stephen Kelly in the open market the Company will issue and allot on a 1-1 basis a match to this purchase. This shall be limited to a maximum value of 1 times £425,000 (based on the price per Ordinary Share paid) (the "Allotment Award Shares").
The number of shares purchased by Mr Stephen Kelly that are eligible for a match have exceeded the capped limit of £425,000 (The book value of open market purchases to date is approximately £545,000). As a result, under the terms of the Allotment Award, Mr Stephen Kelly will be issued a further 850,000 Ordinary Shares. The Allotment Award Shares will be issued by the financial year end 2023.[2]
The Notification of Dealing Form for this transaction is included at the end of this announcement.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.
This announcement contains information that qualifies or may qualify as inside information. The person responsible for arranging the release of this announcement on behalf of Cirata plc is Larry Webster, Company Secretary.
Cirata plc | Via FTI Consulting |
Stephen Kelly, Chief Executive Officer | |
Ijoma Maluza, Chief Financial Officer | |
Daniel Hayes, Investor Relations | |
FTI Consulting | +44 (0)20 3727 1137 |
Matt Dixon / Kwaku Aning / Usama Ali
| |
Stifel (Nomad and Joint Broker) | +44 (0)20 7710 7600 |
Fred Walsh / Richard Short / Tom Marsh | |
Liberum (Joint Broker) |
+44 (0)20 3100 2000 |
Max Jones / Ben Cryer / Miquela Bezuidenhoudt
|
About Cirata
Cirata accelerates data-driven revenue growth by automating data transfer and integration to modern cloud analytics and AI platforms without downtime or disruption. With Cirata, data leaders can leverage the power of AI and analytics across their entire enterprise data estate to freely choose analytics technologies, avoid vendor, platform, or cloud lock-in while making AI and analytics faster, cheaper, and more flexible. Cirata's portfolio of products and technology solutions make strategic adoption of modern data analytics efficient and automated. For more information about Cirata, visit www.cirata.com
1
| Details of the person discharging managerial responsibilities / person closely associated | |||||
a)
| Name
| Stephen Kelly
| ||||
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
| Cirata 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 10 p each
ISIN: JE00B6Y3DV84 | ||||
b)
| Nature of the transaction
| Purchase of Ordinary Shares
| ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price |
248,600
48 pence | ||||
e)
| Date of the transaction | 17 October 2023 | ||||
f) | Place of the transaction | London Stock Exchange (XLON)
| ||||
[1] The number of shares allocated (850,00) is derived by taking the agreed value cap of £425,000 and dividing by the purchase price per share (50 pence per share) of Mr Stephen Kelly's open market trades.
[2] The Company's issued share capital at 1 November 2023 consisted of 114,898,711 ordinary shares of ten pence each with voting rights admitted to trading. The Company holds no ordinary shares in Treasury. Upon completion of the Allotment Share Awards the issued share capital will increase by 850,000 shares leading to a total of 115,748,711 issued share capital.
Cirata (CRTA)