Director/PDMR Shareholding

RNS Number : 4355O

Mattioli Woods PLC

28 May 2015

 



28 May 2015

Mattioli Woods plc

("Mattioli Woods" or "the Company")

Director/PDMR shareholding

The Company was notified on 27 May 2015 that as part of his divorce settlement, Mr Bob Woods (Executive Chairman) of Mattioli Woods plc and his former wife, Mrs Sally Woods, have agreed to the terms of a Consent Order that contains provisions in respect of Mr Woods' current holding of 3,073,703 ordinary shares of 1 pence each in Mattioli Woods plc (the "Shareholding") which represents approximately 15.1 per cent. of the Company's existing issued share capital.  The Consent Order, as agreed between the Executive Chairman and Mrs Woods, remains subject to approval by the Family Court (the "Court"), before it takes effect. 

If the Consent Order is approved by the Court, while the Shareholding will remain under the full control of Mr Woods, it will become subject to an equitable charge (the "Charge") in favour of Mrs Woods. 

The Charge provides that at 20 July 2019 (the "Specified Date"), Mr Woods will be required to transfer 50% of the monetary value of the Shareholding as at the Specified Date to Mrs Woods.  Subject to Mrs Woods' agreement at that time, the Charge may be satisfied by transfer in specie of property, including ordinary shares in the Company.  The Consent Order does not contain provisions requiring any specific sale or transfer of shares prior to the Specified Date. 

A further announcement will be made following the Court's decision. 

- Ends -

For further information please contact:

Mattioli Woods plc
Nathan Imlach, Finance Director	Tel: [phone]
[e-mail]	www.mattioli-woods.com

Canaccord Genuity Limited
Martin Green, Investment Banking	Tel: [phone]
Sunil Duggal, Investment Banking	www.canaccordgenuity.com

 

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