18 Aug 2020 15:56
For immediate release | 18 August 2020 |
Watkin Jones plc
('Watkin Jones', the 'Group' or the 'Company')
Director/PDMR Shareholding
Total Voting Rights
Watkin Jones plc (AIM: WJG), the UK's leading developer and manager of residential for rent with a focus on the build to rent and purpose built student accommodation sectors , announces that on 17 August 2020, Richard Simpson, Chief Executive Officer, exercised 441,360 awards granted over ordinary shares of 1 penny each in the Company (the "Ordinary Shares") under the Watkin Jones Recruitment Plan (the "Awards").
Accordingly, application has been made for 441,360 new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings will commence in the New Ordinary Shares at 8.00 a.m. on 21 August 2020.
In conjunction with the exercise of the Awards, Mr Simpson sold 209,883 Ordinary Shares in order to pay the option price for the shares of 1 penny per share and to discharge the tax liabilities arising as the table below summarises:
Award | Number of Ordinary Shares exercised under the Awards | Number of Ordinary Shares sold to pay the option price and discharge tax liabilities | Balance of Ordinary Shares retained |
2017 Buyout Award
| 441,360 | 209,883 | 231,477 |
The 2017 Awards are subject to a two year holding period from their vesting date of 10 April 2020. In addition, Mr Simpson is required to hold a value of Ordinary Shares equivalent to 200% of his salary before a further sale of the retained Ordinary Shares relating to the Awards referenced above will be permitted.
Following the transactions, Mr Simpson has an interest in 516,987 Ordinary Shares representing 0.2 per cent. of the issued share capital of the Company.
In accordance with the Disclosure Guidance and Transparency Rules (DTR 5.6.1R) the Company hereby notifies the market that immediately following this transaction its issued share capital will consist of 256,163,459 ordinary shares of 1 penny each. Shareholders may use this figure 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.
For further information:
Watkin Jones plc |
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Richard Simpson, Chief Executive Officer | Tel: +44 (0) 1248 362 516 | |
Philip Byrom, Chief Financial Officer | www.watkinjonesplc.com | |
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Peel Hunt LLP (Nominated Adviser & Joint Corporate Broker) | Tel: +44 (0) 20 7418 8900 | |
Mike Bell / Ed Allsopp | www.peelhunt.com | |
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Jefferies Hoare Govett (Joint Corporate Broker) | Tel: +44 (0) 20 7029 8000 | |
Max Jones / Will Soutar | www.jefferies.com | |
Media enquiries:
Buchanan |
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Henry Harrison-Topham / Richard Oldworth Jamie Hooper / Steph Watson |
Tel: +44 (0) 20 7466 5000 |
watkinjones@buchanan.uk.com | www.buchanan.uk.com |
The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:
1
| Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Richard Simpson | |||
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 | Watkin Jones plc
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b) | LEI | 2138009X19O21NU5SG79
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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 | Awards over ordinary shares of 1 pence each | |||
Identification code | ISIN: GB00BD6RF223 | ||||
b) | Nature of the transaction | Exercise of awards over Ordinary Shares of 1 pence each | |||
c)
| Price(s) and volume(s) |
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| Price(s) | Volume(s) |
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| 1 penny | 441,360 |
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d)
| Aggregated information |
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- Aggregated volume | 441,360 | ||||
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- Price | £4,413.60 | ||||
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e)
| Date of the transaction
| 17 August 2020 | |||
f)
| Place of the transaction
| Outside trading venue | |||
1
| Details of the person discharging managerial responsibilities / person closely associated | ||||
a) | Name | Richard Simpson | |||
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 | Watkin Jones plc
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b) | LEI | 2138009X19O21NU5SG79
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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 | Ordinary shares of 1 pence each | |||
Identification code | ISIN: GB00BD6RF223 | ||||
b) | Nature of the transaction | Sale of Ordinary Shares of 1 pence each | |||
c)
| Price(s) and volume(s) |
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| Price(s) | Volume(s) |
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| 145.6 pence | 208,209 |
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| 145.6 pence | 1,674 |
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d)
| Aggregated information |
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- Aggregated volume | 209,883 | ||||
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- Price | £305,589.64 | ||||
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e)
| Date of the transaction
| 18 August 2020 | |||
f)
| Place of the transaction
| London Stock Exchange, AIM | |||
Notes to Editors
Watkin Jones is the UK's leading developer and manager of residential for rent, with a focus on the Build to Rent and student accommodation sectors. The Group has strong relationships with institutional investors, and a reputation for successful, on-time-delivery of high quality developments. Since 1999, Watkin Jones has delivered 41,000 student beds across 123 sites, making it a key player and leader in the UK purpose-built student accommodation market. In addition, the Fresh Property Group, the Group's specialist accommodation management company, manages nearly 18,000 student beds and Build to Rent apartments on behalf of its institutional clients. Watkin Jones has also been responsible for over 80 residential developments, ranging from starter homes to executive housing and apartments. The Group is increasingly expanding its operations into the Build to Rent sector.
The Group's competitive advantage lies in its experienced management team and business model, which enables it to offer an end-to-end solution for investors, delivered entirely in-house with minimal reliance on third parties, across the entire life cycle of an asset.
Watkin Jones was admitted to trading on AIM in March 2016 with the ticker WJG.L. For additional information please visit www.watkinjonesplc.com
Watkin Jones (WJG)