Exercise of Options and Sale of Ordinary Shares

RNS Number : 3864C

Mortgage Advice Bureau(Holdings)PLC

12 April 2017

 

Mortgage Advice Bureau (Holdings) plc ("MAB" or the "Company")

12 April 2017

Exercise of Options and Sale of Ordinary Shares

Mortgage Advice Bureau (Holdings) plc (AIM: MAB1.L), announces that options to subscribe for 325,745 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares" and the "Options") have today been exercised by certain employees, including certain Directors and persons discharging managerial responsibilities. The Options were issued pursuant to the Mortgage Advice Bureau Executive Share Option Plan, under the Company's existing block listing. Following the exercise of Options, certain employees, including certain Directors and persons discharging managerial responsibilities, have sold Ordinary Shares.  The details of the exercise of Options and sale of Ordinary Shares by certain Directors and persons discharging managerial responsibilities are set out below.

	Initial holding (1)		Options exercised(2)	Ordinary Shares sold(3)	Resultant holding(1)
Director	Number of Ordinary Shares	Percentage of issued share capital			Number of Ordinary Shares	Percentage of issued share capital
Peter Brodnicki(4)	14,110,910	27.96	81,250	-	14,192,160	27.94
David Preece(5)	1,524,800	3.02	68,749	29,687	1,563,862	3.08
Lucy Tilley(6)	6,037	0.01	18,836	9,778	15,095	0.03

(1)           Including those shares held by members of the shareholder's family as defined in the AIM Rules for Companies and those held in the Company's Share Incentive Plan.

(2)           Pursuant to the Mortgage Advice Bureau Executive Share Option Plan.

(3)           By the Director and/or his/her connected persons.

(4)           Peter Brodnicki also holds options over 417,055 Ordinary Shares.

(5)           Immediately prior to sale of Ordinary Shares, David Preece has gifted for nil consideration 49,600 Ordinary Shares to his wife, a family member for the purposes of the AIM Rules, which therefore remain disclosable as a beneficial interest in Ordinary Shares. David Preece also holds options over 348,808 Ordinary Shares.

(6)           Lucy Tilley has only sold sufficient shares to cover her exercise price of £2.19 per Ordinary Share in respect of the 18,836 options over Ordinary Shares that she has exercised. Immediately prior to sale of Ordinary Shares, Lucy Tilley has gifted for nil consideration 5,512 Ordinary Shares to her husband, a family member for the purposes of the AIM Rules, which therefore remain disclosable as a beneficial interest in Ordinary Shares. Lucy Tilley also holds options over 162,724 Ordinary Shares.

Donna Brenchley, Commercial Director, a person discharging managerial responsibilities, has exercised 19,531 Options and has gifted for nil consideration 4,300 Ordinary Shares to her husband. Donna Brenchley and her connected persons subsequently sold 19,531 Ordinary Shares.

Following the exercise of Options and sale of Ordinary Shares today by members of the Concert Party (as defined in the Company's Admission Document but excluding Michelle Draycott, who as announced by the Company on 27 April 2016 is no longer considered to be acting in concert with Peter Brodnicki, David Preece and Paul Robinson), members of the Concert Party have a combined interest of 16,546,306 Ordinary Shares, representing 32.58 per cent of the Company's issued share capital.

Under the Mortgage Advice Bureau Executive Share Option Plan, the total number of Ordinary Shares now under option is 1,783,577, representing 3.5% of the Company's issued share capital.  This excludes the 255,000 options over Ordinary Shares in the Company granted to MAB's Appointed Representatives in May 2015.

Following today's issue of shares, the Company has a total of 50,787,345 Ordinary Shares in issue. This figure may be used by shareholders 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.  The Company does not hold any shares in treasury.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	1)    Peter Brodnicki 2)    David Preece 3)    Lucy Tilley 4)    Donna Brenchley
2	Reason for the notification
a)	Position/status	1)    Chief Executive Officer 2)    Chief Operating Officer 3)    Finance Director 4)    Person Discharging Managerial Responsibilities
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mortgage Advice Bureau (Holdings) plc
b)	LEI	2138008AY1RA61T6W960
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 0.1 pence each ISIN: GB00BQSBH502
b)	Nature of the transaction	Exercise of options
c)	Price(s) and volume(s)	Price No. of shares 1)    160 pence 2)    160 pence 3)    219 pence 4)    160 pence 1)    81,250 2)    68,749 3)    18,836 4)    19,531
d)	Aggregated information - Aggregated volume - Price	Volume: 188,366 Price: 166 pence per share (weighted average)
e)	Date of the transaction	12 April 2017
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	1)    David Preece 2)    Lucy Tilley 3)    Donna Brenchley
2	Reason for the notification
a)	Position/status	1)    Chief Operating Officer 2)    Finance Director 3)    Person Discharging Managerial Responsibilities
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mortgage Advice Bureau (Holdings) plc
b)	LEI	2138008AY1RA61T6W960
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 0.1 pence each ISIN: GB00BQSBH502
b)	Nature of the transaction	Transfer of shares
c)	Price(s) and volume(s)	Price No. of shares 1)    Nil 2)    Nil 3)    Nil 1)    49,600 2)    5,512 3)    4,300
d)	Aggregated information - Aggregated volume - Price	Volume: 59,412 Price: Nil
e)	Date of the transaction	12 April 2017
f)	Place of the transaction	London Stock Exchange, AIM

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	1)    David Preece 2)    Lucy Tilley 3)    Bruce Tilley 4)    Donna Brenchley 5)    Jonathan Worsley
2	Reason for the notification
a)	Position/status	1)    Chief Operating Officer 2)    Finance Director 3)    Person closely associated with Director (Lucy Tilley, Finance Director) 4)    Person Discharging Managerial Responsibilities 5)    Person closely associated with Person Discharging Managerial Responsibilities (Donna Brenchley, Commercial Director)
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Mortgage Advice Bureau (Holdings) plc
b)	LEI	2138008AY1RA61T6W960
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 0.1 pence each ISIN: GB00BQSBH502
b)	Nature of the transaction	Sale of shares
c)	Price(s) and volume(s)	Price No. of shares 1)    424 pence 2)    424 pence 3)    424 pence 4)    424 pence 5)    424 pence 1)    29,687 2)    4,266 3)    5,512 4)    15,231 5)    4,300
d)	Aggregated information - Aggregated volume - Price	Volume: 58,996 Price: 424 pence per share
e)	Date of the transaction	12 April 2017
f)	Place of the transaction	London Stock Exchange, AIM

Enquiries:

Mortgage Advice Bureau (Holdings) plc                            [phone]

Peter Brodnicki, Chief Executive Officer

David Preece, Chief Operating Officer

Lucy Tilley, Finance Director

Nominated Adviser and Joint Broker:

Zeus Capital                                                                              [phone] Martin Green Nicholas How Pippa Underwood Joint Broker: Canaccord Genuity                                                                  [phone] Roger Lambert Kit Stephenson Richard Andrews Media Enquiries:   [e-mail]

 

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