Sale of Shares from SAR Scheme & PDMR dealing

RNS Number : 8159D

Gateley (Holdings) PLC

12 October 2018

 

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
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 instrument Identification 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)
			Price(s)	Volume(s)
			£1.575p	20,031
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:
Gateley (Holdings) Plc Neil Smith, Finance Director	Tel: [phone]
Nick Smith, Acquisitions Director and Head of Investor Relations	Tel: [phone]
Cara Zachariou, Head of Communications	Tel: [phone] or [phone]
Cantor Fitzgerald Europe - Nominated Adviser and Broker	Tel: [phone]
David Foreman, Marc Milmo, Michael Boot (Corporate Finance)
Caspar Shand Kydd (Sales)
Arden Partners - Broker	Tel: [phone]
John Llewellyn-Lloyd, Benjamin Cryer (Corporate Finance)
James Reed-Daunter (Corporate Broking)
IFC Advisory - Financial PR Adviser
Tim Metcalfe, Miles Nolan	Tel: [phone]

 

END

 

 

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