12 Oct 2018 07:01
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon publication of this announcement, this information is now considered to be in the public domain.
| 12 October 2018 |
Gateley (Holdings) Plc
('Gateley' or the 'Company')
Allocation and sale of Gateley shares from Stock Appreciation Rights Scheme and PDMR Dealings
Gateley (Holdings) Plc (AIM:GTLY), the law-led professional services group is pleased to announce the transfer of the remaining 124,111 ordinary shares of 10 pence each in the capital of the Company ("Ordinary Shares") from the Gateley Employee Benefit Trust ("the EBT") to partner level employees who have exercised their remaining rights pursuant to the Company's Stock Appreciation Rights ("SAR") Scheme. As announced by the Company on 17 July 2018, a total of 2,425,024 Ordinary Shares had previously been issued to the EBT to satisfy the vesting of share options under the SAR Scheme. Whilst the majority of option holders exercised their options earlier this year two partners delayed their exercise until now.
Of the 124,111 Ordinary Shares transferred, an aggregate of 75,460 have been sold on behalf of these two remaining partners in order to reimburse them for their personal tax liabilities resulting from the exercise of their SAR Scheme awards. The 75,460 shares were purchased by the EBT.
Highlights
· The Group's incentivisation plan is now, 3 years post IPO, generating real, tangible rewards for "partners" lower down the equity ranks at the time of the IPO
· 2,425,024 aggregate Ordinary Shares, represents 2.19% of the current issued share capital
· Free float remains at 38.3%
PDMR Dealings
The Company announces that it has received the following notification of sales of Ordinary Shares from Victoria Garrad, being a PDMR of Gateley. The notification set out below is provided in accordance with the requirements of the EU Market Abuse Regulation.
Further information on Executive Director and PDMR dealings are provided below:
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Victoria Walker (nee Garrad) | ||||||
2 | Reason for notification |
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a. | Position/Status | Executive Director of Gateley Plc | ||||||
b. | Initial notification/ Amendment | Initial Notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Gateley (Holdings) PLC | ||||||
b. | LEI | N/A | ||||||
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 | |||||||
1. a. | 2. Description of the financial instrument, type of instrumentIdentification Code | Ordinary Shares of 10 pence each
ISIN: GB00BXB07J71 | ||||||
3. b. | 4. Nature of the transaction | Sale of Ordinary Shares to reimburse tax liability on SARS | ||||||
c. | Price(s) and volume(s) |
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| Price(s) | Volume(s) |
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£1.575p
| 20,031 |
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d. | Aggregated information - Aggregated Volume - Price |
20,031
£1.575p | ||||||
e. | Date of the transaction | 10 October 2018 | ||||||
f. | Place of the transaction | London Stock Exchange | ||||||
Ends -
Enquiries: |
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Gateley (Holdings) Plc Neil Smith, Finance Director |
Tel: +44 (0) 121 234 0196 |
Nick Smith, Acquisitions Director and Head of Investor Relations | Tel: +44 (0) 20 7653 1665 |
Cara Zachariou, Head of Communications | Tel: +44 (0) 121 234 0074 or +44 (0) 7703 684 946 |
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Cantor Fitzgerald Europe - Nominated Adviser and Broker | Tel: +44 (0) 20 7894 7000 |
David Foreman, Marc Milmo, Michael Boot (Corporate Finance) |
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Caspar Shand Kydd (Sales) |
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Arden Partners - Broker | Tel: +44 (0) 20 7614 5900 |
John Llewellyn-Lloyd, Benjamin Cryer (Corporate Finance) |
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James Reed-Daunter (Corporate Broking) |
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IFC Advisory - Financial PR Adviser |
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Tim Metcalfe, Miles Nolan | Tel: +44 (0) 20 3934 6630
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Gateley Holdings (GTLY)