Director/PDMR Shareholding

RNS Number : 6508F

musicMagpie plc

22 March 2022

 

22 March 2022

musicMagpie plc 

("musicMagpie" or "the Group")

Director/PDMR Shareholding

musicMagpie, a leading re-commerce business in the UK and US specialising in refurbished consumer technology,  announces that on 22 March 2022 Catherine Oliver, spouse of Steve Oliver, Chief Executive Officer, purchased 476,190 ordinary shares of 1p each in the Company ("Ordinary Shares"), at a price of 52.5p.  On the same date, Ian Storey, Chief Operating Officer, purchased 95,238 Ordinary Shares, also at a price of 52.5p.

The information below (set out in accordance with the requirements of EU Market Abuse Regulation) provides further detail:

1.	Details of the person discharging managerial responsibilities / person closely associated
a.	Name	1.  Catherine Oliver 2.  Ian Storey
2.	Reason for the notification
a.	Position/status	1.  Person closely associated with Steve Oliver, Chief Executive Officer 2.  Chief Operating Officer
b.	Initial notification /Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	musicMagpie plc
b.	LEI	213800QMKTKSDMQIR327
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
b.	Nature of the transaction	Ordinary shares of £0.01 each ISIN:  GB00BKY4XG48
c.	Price(s) and volume(s)	Price(s) Volume(s) 1. 52.5p 476,190 2. 52.5p 95,238
d.	Aggregated information · Aggregated volume · Price	Price(s) Volume(s) 1. 52.5p 476,190 2. 52.5p 95,238
e.	Date of the transaction	22 March 2022
f.	Place of the transaction	London Stock Exchange (XLON); AIM

Enquiries

musicMagpie plc Steve Oliver, CEO Ian Storey, COO	Tel: [phone]
Peel Hunt (Nominated Adviser and Joint Broker) Edward Knight Paul Gillam Tom Ballard James Smith	Tel: [phone]
Shore Capital (Joint Broker) Malachy McEntyre Mark Percy Daniel Bush John More	Tel: [phone]
Powerscourt (Financial Public Relations) Rob Greening Genevieve Ryan Sam Austrums	Tel: [phone]

Notes to Editors

musicMagpie is a leader in the re-commerce of consumer technology (including smartphones, tablets, consoles and wearables), disk media (including CDs, DVDs and games) and books, with sustainability running to the very heart of its operations.

Founded in 2007, the Group has an established presence in the UK, with operations in Stockport, Greater Manchester, and in the US in Atlanta, Georgia. Operating through its two trusted brands - musicMagpie in the UK and Decluttr in the US, the Group's core business model is simple: to provide consumers with a smart, trusted and sustainable way to buy, rent and sell refurbished consumer technology and physical media products.

It has a strong environmental and social focus, as demonstrated by its trademarked 'smart for you, smart for the planet' ethos. Over 400,000 consumer technology products were resold to consumers in the year ended 30 November 2021 by the Group. In addition, the Directors estimate that the Group re-sells approximately 2,500 tonnes of books and disc media each year that could have ended up as waste. As a result, the Company has received the London Stock Exchange's Green Economy Mark, which recognises companies that derive 50 per cent. or more of their total annual revenue from products and services that contribute to the global 'Green Economy'.

When selling to musicMagpie, the customer is offered a fixed valuation via the website, provided with free logistics to ship the products and (subject to it being 'as described') receives payment for their product on the day of arrival at the Group's warehouse.

Customers purchasing from musicMagpie receive branded refurbished product for a fraction of the price of buying new. All consumer technology products sold by the Group are sold with a free 12-month warranty.

The Group has the highest number of seller reviews on both Amazon and eBay and has consistently achieved extremely positive feedback scores. The Group also has a 4.6* rating on UK Trustpilot with over 200,000 reviews.

For further information please visit: www.musicmagpieplc.com/

 

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