23 Mar 2018 11:46
23 March 2018
SOCO International plc
('SOCO' or 'the Company')
DIRECTOR/PDMR SHAREHOLDING
Notification of Transactions of Director
The Company announces that on 22 March 2018, Ed Story, the Chief Executive Officer of the Company became interested in a total of 357,363 SOCO International plc ordinary shares of £0.05 each ("Shares") after the vesting of contingent awards over 521,557 Shares ("Awards") under the Company's Deferred Share Bonus Plan ("DSBP").
The Board had determined that, in this instance, it serves the best interest of the Company and its shareholders, and with the agreement of Mr Story, to deliver only the net number of Shares after deducting the number of Shares that otherwise would be sold in the market to settle the tax liabilities associated with the settlement of these Awards. Therefore, no Shares will be sold and the associated tax liabilities will be settled by the Company.
Further details of the number of Shares referenced in the above are shown in the following table:
Name | Ed Story |
Date of original grant | 8 Jan 16 |
Awards vested | 521,557 |
Shares to be deducted for associated tax | 164,194 |
Shares to be delivered to Ed Story | 357,363 |
Following these transactions, interests held are as follows:
Ed Story is interested in 14,073,747 Shares, representing 4.24% of the issued share capital of the Company (excluding treasury shares), of which 12,398,747 (3.74%) Shares are held personally by Ed Story and 1,675,000 (0.50%) Shares are held through The Story Family Trust, a closely associated person to Ed Story.
Contact:
Tony Hunter, Company Secretary, SOCO International plc, tel. +44 20 7603 1515
1
| Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Ed Story | ||||
2 | Reason for the notification | |||||
a) | Position/status | CEO/Director | ||||
b) | Initial notification /Amendment | Initial notification | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | SOCO International plc | ||||
b) | LEI | 549300DDKLXYLLO4N524 | ||||
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 £0.05 Each
GB00B572ZV91 | ||||
b)
| Nature of the transaction | Acquisition of shares following settlement of share awards under the Company's Deferred Share Bonus Plan. | ||||
c)
| Price(s) and volume(s)
|
| ||||
d)
| Aggregated information - Aggregated volume - Price |
357,363 Nil | ||||
e) | Date of the transaction | 22/03/2018 | ||||
f) | Place of the transaction | Outside of a trading venue | ||||
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